Conducting your annual plan review - DWS Investments

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INFORMATION.EVALUATION. OVERSIGHT.Conducting an annual plan review is an integral partof sponsoring a retirement plan. An annual planreview can provide your organization with a valuableopportunity to review key areas of the plan to helpensure that each area is operating effectively, and thatyou are offering a compelling retirement plan benefitfor your plan participants.
Plan snapshotIf you could photograph your retirement plan, what would it look like? This is the heart of the annualplan review process—a snapshot of your plan that enables you to understand where it has been, whereit is now, and where it should be going. Your annual plan review will also provide you with valuableinsights into how your plan compares to its peers, as well as detailed assessments of key aspects ofplan operations.MANAGING RISK AND RESPONSIBILITYCongratulations on sponsoring a DWS RetirementServices’ retirement plan. We continually strive toprovide the most useful range of quality services inthe industry. It’s all part of our effort to help makeinvesting for retirement easier for your employees,and to make your retirement plan more responsiveand beneficial for your company.To achieve fiduciary protection with respect to yourplan, you must comply with all necessary ERISAretirement plan requirements. The plan review processis essential to gaining an understanding of howwell you are addressing these responsibilities andrequirements to your participants and to the plan itself.Besides its value as a measure of your plan’soperating profile, the annual plan review shouldalso be important to you as a plan sponsor for onevery concrete reason. The fiduciary responsibilitiesthat come with being a sponsor of your company’sretirement plan means that you have responsibilitiesrelating to many plan areas, including planmanagement, plan design, administration andrecordkeeping, plan investments, participantcommunication and education.Within each of these areas you may face fiduciary riskif these responsibilities are not met—and that risk ispersonal. As a plan fiduciary, it is your duty to ensurethat you act prudently and for the exclusive benefit ofyour participants. Your effectiveness as a fiduciary ismeasured by the good sense of your decision-making,your judgment and your steadfast dedication to asound process.Conducting your annual plan review » 1
Page 5 and 6: Establishing a retirement plan comm
Page 7: Beginning the annual plan reviewAft
Page 10 and 11: PLAN ADMINISTRATIONAND RECORDKEEPIN
Page 12 and 13: InvestmentsBecause suitable investm
Page 14 and 15: SERVICE PROVIDERS AND FEESSelecting
Page 16 and 17: Some providers must be licensed suc
Page 18 and 19: Participant communication and educa
Page 20 and 21: ■■A quarterly statement under t
Page 22 and 23: Putting all togetherThe conclusion
Page 24: The information provided is for edu

Conducting your annual plan review - DWS Investments

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