In the U.S. retirement planning and pension management space, Employee Retirement Income Security Act (ERISA) is pivotal role to the creation of robust employee benefits programs. Behind every well-managed employee benefits plan in U.S. companies lies the expertise of ERISA services providers, the unsung heroes of corporate retirement planning. As businesses navigate the intricate web of regulations and fiduciary responsibilities set forth by the ERISA, these specialists increasingly offer indispensable guidance and customized solutions.
Past figures indicate that the market size of the Retirement & Pension Plans industry in the U.S.—valued at $953.6bn in 2023— has grown 17.2 percent per year on average between 2018 and 2023. In 2024 and beyond, the global ERISA services providers market is projected to soar to unprecedented heights, driven by the increasingly complex regulation governing corporate retirement planning and the growing emphasis on ensuring financial wellness of employees.
This edition of Manage HR presents a comprehensive overview of the latest developments in the ERISA sector, highlighting key trends, innovations, and strategic insights that are reshaping the landscape.
The edition features insights from Corinne Rozon, senior manager of retirement at Cenovus Energy, who explores the challenges Canadians face in saving for retirement amid higher inflation and living costs and how to best mitigate them through early savings and investments to build a large fund corpus.
It also includes perspectives from Heather Windjue, Head of Plan Consulting and Compliance and Katie Boyer-Maloy, National TPA Channel Director at John Hancock Retirement. They discuss the advantages of using a third-party administrator (TPA) for managing retirement plans in organizations, highlighting how TPAs enhance plan customization, efficiency, compliance, and cost-effectiveness to support talent management strategies and employee retention efforts.
In this edition highlighting the Top ERISA Services Providers of 2024, we hope you find the best partner for your organization’s corporate benefits and employee retirement planning needs.
