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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 SECURE Act 2.0 Passed Unanimously by Ways and Means Committee A rare unanimous affirmative voice vote by the Ways and Means Committee allows the SECURE Act 2.0 to be considered by the full House of Representatives. 2020 Recordkeeping Survey Administration Forces Come Together to Make PRTs More Attractive Increased funded status for DB plans and rising interest rates make now a good time for plan sponsors to consider implementing pension risk transfer transactions. Benefits Building Inclusivity Into Employee Benefits While it’s a crucial step, experts say promoting an inclusive workplace entails more than offering benefits to different employee demographics.  Participants DC Plan Participants Need More Than Jargon The way people view and define retirement has undergone a significant philosophical change in recent years, creating a clear and present need to update the defined contribution plan lexicon. Did someone forward you this newsletter? Sign up here to get PLANSPONSOR Weekend directly in your mailbox!

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