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However, collect market data to establish target total compensation amounts for each job.

Grieb explains that the new rule expressly allows fiduciaries to consider what steps might increase the participation rate for their specific employees, adding that if certain investments could increase total plan assets through stronger participation or higher deferral rates, the DOL thinks that can be a relevant factor.

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Editor’s Note: Additional Content For more information and resources related to this article, see the pages below, which offer quick access to all WorldatWork content on these topics: ;Employee Compensation; ;Finance and Budgeting; ;Organizational Performance; ;Sales Compensation; #1 Total Rewards & Comp Newsletter Subscribe to Workspan Weekly and always get the latest news on compensation and Total Rewards delivered directly to you.

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