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week ending December 18th, 2020 PLANSPONSOR strives to offer information that is helpful to anyone who works in a plan sponsor role—from the most experienced to new staff. That’s why, in addition to articles regarding the latest developments, we regularly produce articles about the basic components of plan administration and compliance. In this edition of PLANSPONSOR Weekend, you will find a sampling of the 'basics' education articles we produced this year. Editor's Choice Investing Steps for Creating an Effective IPS While not required, a road map for investment selection and monitoring is a best practice, and sources now say the more detailed, the better. Compliance Remembering the Basics of Fiduciary Duties What ERISA retirement plan sponsors should know about their responsibilities as they make plan decisions or even outsource decisions to others. Administration What to Know About DB Plan Administration Plan sponsors should understand the components of administration, the interplay of providers and on what duties sources say sponsors are falling behind. Compliance Recent Acts Will Require Plan Amendments Retirement plan sponsors will need to be aware of select modifications depending on their plan type, as well as key deadlines to follow. Compliance Advisers Can Spearhead Retirement Plan Committee Setup and Training Plan sponsors can trust advisers to help with committee decisions and training and expect input from ERISA attorneys. Popular Reads Compliance DOL Offers Guidance for Locating Missing Participants Guidance in three parts offers suggested processes for DC plans and DB plans and reveals errors DOL staff should look for. 2020 Recordkeeping Survey Administration The Mechanics of Moving to a PEP With a lack of regulatory guidance, plan sponsors can rely on certain existing rules to know the steps to take if they decide to move from a single-employer plan to a pooled employer plan. Deals and People Marty Walsh Will Be Nominated as Secretary of Labor Apart from potentially reversing course on fiduciary rule-related regulations, there are many other areas where sources suggest the next DOL Secretary could drive significant changes. Investing Deciding Whether an Annuity Is Right for Your Plan Participants Plan sponsors should look at participant needs to determine whether annuities would be a fit for their plan and, if so, which types of annuities meet those needs. Did someone forward you this newsletter? Sign up here to get PLANSPONSOR Weekend directly in your mailbox!

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