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Understanding the Trump impact: 5 areas to watch in wake of the 2024 U.S. election results

Author

Beth Ashmore,
Jonathan Pliner, CFA,
Courtney Stubblefield, ASA MAAA ,
Emory Todd and
Lori Wisper
January 28, 2025

The 2024 election saw Republicans take full control of both chambers of Congress and the White House. Though single-party control typically offers some level of certainty, the corporate landscape in the U.S. will change. HR executives should remain aware of changes that affect investment, employee benefits, retirement and compensation.

Late last year, we hosted a webcast to discuss how the 2024 election results might impact capital markets, retirement, health insurance and compensation plans. We’ve summarized five areas to watch to help you navigate these potential changes with confidence and agility.

In today’s high-interest-rate environment, well-funded pension plans offer sponsors many derisking options.

While we are uncertain of the exact outcomes, these shifts could reshape the national health narrative.

Next steps

It’s highly likely that the incoming Trump administration will bring significant changes to total rewards, compensation, retirement, employee benefits and investment strategies in 2025. Ultimately, staying vigilant and responsive to these changes will enable organizations to manage the challenges and seize the opportunities presented by the new administration.

Disclaimer

The information included in this presentation is intended for general educational purposes only and should not be relied upon without further review with your WTW consultant. The information included in this presentation is not based on the particular investment situation or requirements of any specific trust, plan, fiduciary, plan participant or beneficiary, endowment, or any other fund; any examples or illustrations used in this presentation are hypothetical. As such, this presentation should not be relied upon for investment or other financial decisions, and no such decisions should be taken on the basis of its contents without seeking specific advice. WTW does not intend for anything in this presentation to constitute “investment advice” within the meaning of 29 C.F.R. § 2510.3-21 to any employee benefit plan subject to the Employee Retirement Income Security Act and/or section 4975 of the Internal Revenue Code.

Authors

Photo of Beth Ashmore

Beth Ashmore

Senior Managing Director, Retirement

Jonathan Pliner, CFA, Global Chief Investment Officer

Jonathan Pliner, CFA

Global Chief Investment Officer

Courtney Stubblefield, ASA MAAA. Santé et assurance collective, Amérique du Nord

Courtney Stubblefield, ASA MAAA

Health and Benefits, North America

Emory Todd

Emory Todd

Global Leader, Integrated & Global Solutions

Lori-Wisper-2

Lori Wisper

Senior Managing Director, Work and Rewards