11 changes employers will make to 401(k)s in 2018
The economy is showing plenty of strength as we begin 2018. GDP is stronger than it has been during the majority of the recovery, equity markets worldwide have been robust and unemployment in the U.S. has been falling.
Lower unemployment has resulted in worker shortages in many cities. It’s fair to say that competition for qualified employees will be more intense in 2018. As a result, your competitors will be doing everything they can to make their compensation and benefit packages stand out from the crowd.
In response to the trends driving the 401(k) industry, I’ve identified 11 changes (listed below) that many leading-edge employers will make to their 401(k) plans in 2018. Nearly all of these changes result in little or no cost to plan sponsors. Some will even save plan sponsors money.