By Remy Samuels
Source: Plan Sponsor
Increased litigation; regulatory and legislative changes; and a lack of retirement confidence among participants were common themes observed by defined contribution plan sponsor panelists on a recent Mercer webinar reflecting on key trends in the first quarter of 2023.
Roughly 43 lawsuits, noted with activity, have been filed this quarter against retirement plans, including 14 settlements that totaled about $55.3 million, said Rhonda Berg, a senior principal and defined contribution consultant at Mercer and one of the speakers at the firm’s Defined Contribution Plan Sponsor Quarterly Update.