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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 EARN Act Clears Senate Finance Committee For the second time in a little more than a week, a key Senate committee has advanced an important piece of retirement plan reform legislation for a vote by the full chamber. Research 2021 Recordkeeping Survey Compliance Plaintiffs Rebuffed by Appeals Court in Active Management Lawsuit The defendant in the case, CommonSpirit Health, was accused of committing fiduciary breaches in the provision of an active target-date fund suit—allegations rejected both in district court and on appeal. Compliance Retirement-Focused RISE & SHINE Act Clears Senate HELP Committee Backers of the bill say it will improve retirement security by creating additional protections for workers and retirement savers at all stages of their retirement timelines. Did someone forward you this newsletter? Sign up here to get PLANSPONSOR Weekend directly in your mailbox!

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