PLANSPONSOR - February/March 2021 - 20
AWARDS | 2021 PLANSPONSOR BEST IN CLASS 401(k) PLANS
Traveled
Road
The
Less
A plan's path to peak status
can start with a few simple steps
A
s the old saying goes, " A journey of a thousand miles begins with a single
step. " So it is with a 401(k) plan. There are various steps that a plan sponsor
can take to build what PLANSPONSOR calls a " Best in Class " (BIC) plan-a
401(k) retirement vehicle meeting the highest standard of excellence, as deemed by our
research and editorial teams.
Each plan sponsor's journey to the top might be different. To continue the trekking
analogy, one does not need to have the " best " hike to spend an enjoyable day covering
ground in the wild, as not everyone will have the time or resources to attempt that absolute
best hike. Instead, what is important is to set one's course based on the time, skills
and money he has available.
It is an intricate process to operate a solidly compliant 401(k) plan, says Lori Lucas,
president and CEO of the Employee Benefit Research Institute (EBRI) in Washington,
D.C. " At the most fundamental level, you want to make sure that all of your i's are dotted
and your t's are crossed. This means there's an understanding of the investment policy
statement [IPS], of who is on the investment committee and what their responsibilities
are. [It also means being able to] train people to understand, as investment committee
members, what their obligations are. These are all good and fundamental steps. "
How the plan was established, and its regulatory requirements, might look similar
from company to company, but says Aliya Robinson, senior vice president of retirement
and compensation policy at the ERISA [Employee Retirement Income Security
Act] Industry Committee (ERIC), in Washington, D.C., the specifics of a 401(k) plan are
determined by the workforce. If a company's participants takes an interest in the plan,
20 PLANSPONSOR.COM February - March 2021 Art by Bill Mayer
http://www.PLANSPONSOR.COM
PLANSPONSOR - February/March 2021
Table of Contents for the Digital Edition of PLANSPONSOR - February/March 2021
Service for a Crowd
2020 PLANSPONSOR Best in Class 401(k) Plans
Shelter From a Storm
From Volatility to Stability
Are Annuities Good for All?
Regrowth Factor
When 'Herding' Helps
PLANSPONSOR - February/March 2021 - Cover1
PLANSPONSOR - February/March 2021 - Cover2
PLANSPONSOR - February/March 2021 - 1
PLANSPONSOR - February/March 2021 - 2
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PLANSPONSOR - February/March 2021 - 12
PLANSPONSOR - February/March 2021 - 13
PLANSPONSOR - February/March 2021 - Service for a Crowd
PLANSPONSOR - February/March 2021 - 15
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PLANSPONSOR - February/March 2021 - 19
PLANSPONSOR - February/March 2021 - 2020 PLANSPONSOR Best in Class 401(k) Plans
PLANSPONSOR - February/March 2021 - 21
PLANSPONSOR - February/March 2021 - 22
PLANSPONSOR - February/March 2021 - 23
PLANSPONSOR - February/March 2021 - 24
PLANSPONSOR - February/March 2021 - 25
PLANSPONSOR - February/March 2021 - Shelter From a Storm
PLANSPONSOR - February/March 2021 - 27
PLANSPONSOR - February/March 2021 - From Volatility to Stability
PLANSPONSOR - February/March 2021 - 29
PLANSPONSOR - February/March 2021 - 30
PLANSPONSOR - February/March 2021 - 31
PLANSPONSOR - February/March 2021 - Are Annuities Good for All?
PLANSPONSOR - February/March 2021 - 33
PLANSPONSOR - February/March 2021 - Regrowth Factor
PLANSPONSOR - February/March 2021 - 35
PLANSPONSOR - February/March 2021 - When 'Herding' Helps
PLANSPONSOR - February/March 2021 - 37
PLANSPONSOR - February/March 2021 - 38
PLANSPONSOR - February/March 2021 - 39
PLANSPONSOR - February/March 2021 - 40
PLANSPONSOR - February/March 2021 - Cover3
PLANSPONSOR - February/March 2021 - Cover4
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