Vol.2, August 2025
August Benefits Rundown: OE poll results, missing retirement plan participants + more
I recently joined the board of a university foundation’s endowment fund and was struck by how closely the experience mirrored the ERISA committees we work with at SBA, especially in areas like governance, investment oversight, and operational responsibility.
What stood out most were three practices that could translate well to the employee benefits world: thoughtful onboarding with peer mentorship, skills-based committee composition, and proactive succession planning. As an industry, we talk a lot about governance, but far less about how we equip committees to govern well. That’s a gap worth closing. If these ideas resonate—or spark some of your own—I hope you’ll carry them into your own committee conversations.
‘Til next time,
Mindy Zatto, FSA, EA, FCA, MAAA, MSPA
Founding Principal, SBA
This Month at SBA
A quick look at what’s new, noteworthy, or just plain useful from our team.
The open enrollment results are in!
We recently polled our LinkedIn network to find out what’s top of mind as they prepare for annual benefits enrollment.
Data validation beat out system testing and communication review as the #1 OE concern, with employers pointing to a shortage of team time/capacity as the primary reason data validation is so hard to pull off.
Speaking of system testing, respondents identified verifying employee/employer premiums as their top focus, followed by benefit/plan eligibility and plan changes.
The elephant in the room
Ask the Principals
Our leadership team tackles tough questions from plan sponsors like you.
A: With vendors merging, exiting, rebranding, and evolving fast, keeping up with industry changes can be overwhelming. Yet these shifts can have real consequences for your plan’s service levels, costs, and vendor alignment over time. SBA actively tracks provider movement and market trends to help you make sense of what matters for your organization.
Consolidation isn’t just about M&A headlines. It changes how vendors operate behind the scenes. Some firms re-enter the market with entirely new delivery models, while others reduce their scope of services or shift focus without formally exiting. Offshoring strategies continue to evolve, and niche providers are growing in influence, sometimes offering better cultural or operational alignment for certain plans.
Even the RFP process itself looks different than it did just a few years ago as plan sponsors rethink their requirements around reporting, data security, AI capabilities, and the participant experience.
Understanding how these shifts intersect with your specific plan structure, service expectations, and long-term goals is key. SBA can help you assess those impacts and move forward with confidence—whether that means staying the course, revisiting your vendor strategy, or preparing for change.
Recommended Reading
Each month, the SBA team curates a selection of standout articles from across the employee benefits landscape. Here’s what caught our attention this month:
The 401(k) shake-up: private equity's role and risks (Kiplinger)
Healthcare costs projected to rise 9% in 2026 (Employee Benefit News)
Social Security was established 90 years ago. It needs changes to secure its future (Investopedia)
Participants lack awareness of mental health coverage despite improved offerings (PLANSPONSOR)
DOL will maintain annuity safe harbor rule, after getting ‘significant adverse comments’ (BenefitsPRO)