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In the wake of a pandemic that highlighted the importance of being prepared for anything, plan sponsors must approach the coming months with both resiliency and an evolutionary thought process. As if the pressures and disruptions of COVID-19 were not enough, class-action lawsuits targeting 401(k) plans have skyrocketed in just two years, and a new level of regulatory activity is altering environmental, social, governance (ESG) investing, proxy voting and the fiduciary rules.
Mercer, in a new report titled "Reinventing Retirement: Defined Contribution Plans 2021 Priorities," outlines six areas defined contribution (DC) plan sponsors should prioritize this year. The report calls for plan sponsors to take participant-centric action while remaining flexible.
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