WHAT IS INFLATION AND HOW IS IT MEASURED?WHY INFLATION PROTECTION IN DC?HISTORY OF INFLATION: INFLATION SPIKES UNDERSCORE NEED FOR INFLATION-HEDGING ASSETSINFLATION PROTECTION WHEN ACCUMULATING AND DECUMULATING, AND IN DIFFERENT ECONOMIC ENVIRONMENTSECONOMIC ENVIRONMENTS CHANGE UNEXPECTEDLY—AND REWARD OR PUNISH VARIOUS ASSET CLASSESCONSULTANTS FAVOR TIPS, MULTI-REAL-ASSET STRATEGIES, REITS, AND COMMODITIESHOW SHOULD PLAN SPONSORS ADDRESS INFLATION RISK IN DC PORTFOLIOS?IMPLEMENTATION CHALLENGESEVALUATING REAL ASSET STRATEGIESSUMMARY COMPARISON OF INDIVIDUAL AND MULTI-REAL-ASSET BLENDSINFLATION-HEDGING ASSETS IN TARGET-DATE GLIDE PATHSOBSERVATIONS FOR INFLATION-HEDGING ASSETS IN TARGET-DATE GLIDE PATHSIN CLOSINGQUESTIONS FOR FIDUCIARIES