Plan administrator

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Plan Administrator

The person or company that manages a pension. That is, the plan administrator makes investment decisions with the contributions the employer and/or employees have made. The plan administrator is responsible for keeping the pension on sound financial footing.

Plan administrator.

A plan administrator is the person or company your employer selects to manage its retirement savings plan. The administrator works with the plan provider to ensure that the plan meets government regulations.

The administrator is also responsible for ensuring employees have the information needed to enroll, select, and change investments in the plan, apply for a loan if the plan allows loans, and request distributions.

References in periodicals archive ?
M2 EQUITYBITES-April 28, 2016-US Retirement Plan Administrators URPC, MGA Consultants Merge
The following tips can help plan administrators hire an auditor who will perform a high-quality audit.
The new policy, contained in Field Assistance Bulletin (FAB) 2013-02, allows plan administrators to reset the deadline one time-for either the 2013 or the 2014 comparative chart, should the responsible plan fiduciary determine that doing so will benefit the plan's participants and beneficiaries, and provided that no more than 18 months may pass before participants receive their next comparative chart.
ERISA requires plan administrators, upon receipt of the notice from the employer, to accept an appropriately completed notice that also complies with the requirements of ERISA Section 609(a) as a QMCSO.
It remains to be seen if the Chief Justice has provided a roadmap for plan administrators to defend against these suits.
Equity Focus is a browser-based stock plan administration system that helps financial executives and stock plan administrators at venture-backed and other privately held companies make multimillion-dollar decisions concerning new investors, merger partners or any future exit strategy "with the confidence that they have a complete picture of every aspect of their companies' total capitalization," the Needham, Mass.
The plan documents argument interprets ERISA's fiduciary duties provision, [section] 1104, as requiring plan administrators to pay the beneficiary listed on the beneficiary form without consulting any other documents to determine the correct beneficiary.
Companies and plan administrators will need to understand the effects of the new law on their plans and seek professional advice and assistance in implementing the new requirements.
The Pension Benefit Guaranty Corporation (PBGC) has created a Voluntary Correction Program (VCP) that allows plan administrators to correct their failure to comply with the PBGC's participant notice requirements.
Harmonizing the state's rules with the abundant federal authority in this area will not only facilitate administration and compliance for employers, but also employees, plan administrators, and the state, the Institute noted.
netstockdirectcom), then follow the instructions by any of the 1,400 individual companies listed on the site to receive materials from their plan administrators (some enrollment forms are available on the site).