black eyeglasses on table with letters spelling 2020 visible behind them (Photo: Shutterstock)

It's safe to say that when the year started, no one could have foreseen the impact COVID-19 would have on our way of life. The workforce needed to quarantine, financial markets swung wildly and businesses across all industries were forced to adapt rapidly to an ever-changing situation. Looking back on 2020, retirement plan sponsors can learn several lessons for managing their plan, and take a few key actions now to help them better prepare for the year ahead.

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