In the defined contribution market, the first quarter of 2023 saw an spike in lawsuits and a drop in retirement confidence, however, Congress' main priority now is SECURE 2.0 implementation, according to Mercer.

"Only a small and shrinking portion of patients use either physical or digital channels exclusively," the report said.

The confidence both workers and retirees have in their ability to finance their retirements dropped significantly in 2023, as inflation erodes the confidence that Americans had going into the pandemic, says a new survey.

A very strong majority of survey respondents, 81% said they would welcome benefit information outside the open enrollment period.

The report notes that by 2021, brand name prescription drugs accounted for only 14% of utilization but more than 80% of spending.

That score plunged to 72% for millennials, who have decreasing savings rates and a more cautious and conservative approach to investing, according to Fidelity.

The move by many states, like Oregon and California, to require auto-IRA retirement plans for private-sector workers has not discouraged employers from sponsoring their own retirement plan benefits, a Pew study has found.

Employers have come a long way in their support of employees' mental health, but for workers, there is a lack of awareness of the services provided by their health plan, says a new study.