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 The preparation and maintenance of the Investment Policy Statement (IPS) is one of the most critical functions of a plan sponsor. The IPS should be viewed as the business plan and the essential management tool for direction and communication of the activities of the plan. A formal process to create and review a company's Investment Policy Statement is executed and a plan is put in place to monitor key changes to this document. This document is then used to run an investment review and set a process in place to regularly monitor plan investments in accordance with the criteria in the IPS. Completing this step is critical to documenting fiduciary compliance. |
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