Optical systems for routing light that reduce or eliminate polarization-dependent loss are provided. Such optical systems generally accommodate an optical element that has an intrinsic polarization-dependent loss and which is disposed to be encountered twice by the light being routed. In some instances, the optical element may be a dispersive element such as a diffraction grating or prism, but the invention has more general applicability. The optical system additionally includes both a reflective element and a wave plate assembly disposed to be encountered by the light between encounters with the dispersive element.