The past year ushered in significant changes for employers and plan sponsors, including the passage of the DOL’s finalized fiduciary rule, a surge of ERISA-related lawsuits involving excessive fees and misuse of forfeited funds, and the transition to a new presidential administration. Now that 2025 is firmly underway, plan sponsors need to plan and prepare for the year ahead.
What are the crucial considerations that should be at the forefront of plan sponsors' agenda? We spoke with Richard Clarke, Chief Insurance Officer at Colonial Surety Company, a leading direct and digital insurer, about the impact the new administration could have on 401(k)s and pensions and how plan sponsors and third party administrators (TPAs) should be preparing and if there are any additional pain points plan sponsors can expect in 2025.
Q: What will be the biggest impact the new administration could have on 401(k)s?
Richard Clarke: With the new administration just settling in, it's too early to predict specific policy shifts with certainty. However, plan sponsors and TPAs should be prepared for potential shifts that could impact 401(k) plans.Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
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