Plan sponsors

Plan sponsors

The entities that establish pension plans, including private business entities acting for their employees; state and local entities operating on behalf of their employees; unions acting on behalf of their members; and individuals representing themselves.

Plan Sponsor

An employer or company that offers a pension plan to employees. Plan sponsors may directly manage the pensions, but most allow third-party money managers to handle them. However, plan sponsors must determine which employees are eligible for the plan, and most contribute matching funds to each employee's pension, up to a certain point. A wide variety of pension plan types exist, and plan sponsors determine and may change the terms of what they offer. See also: 401(k), IRA.
References in periodicals archive ?
The resulting white paper, " Aligning goals, improving outcomes: 2015 Defined Contribution Plan Sponsor Survey Findings," reveals that although plan sponsors have a strong and growing sense of responsibility for helping employees achieve a financially secure retirement, several disconnects exist between the goals they identify for their defined contribution (DC) plans and how they evaluate success.
In order to continue providing effective and affordable health care to their members, plan sponsors must find ways to manage their specialty-drugs costs.
Many plan sponsors "appear to be shoring up their plans with an eye toward eventually winding them down," the firm says.
THE IRS's EMPLOYEE PLANS COMPLIANCE RESOLUTION System (EPCRS) can help plan sponsors correct qualification failures.
plan sponsors conducted by Deloitte Consulting, 45 percent of respondents reported the use of outside investment consultants, a 10 percent increase over 2003.
This may deter some plan sponsors (who currently have this requirement) from adopting these safe-harbor provisions.
Notice 98-29 represents a positive step in reducing complexity, compliance burdens, and plan operation costs for plan sponsors without disadvantaging plan participants.
Prime among its many benefits, standardized information will create a 'common language' shared by pension plan sponsors, institutional real estate consultants, and real estate investment managers.
NEW YORK -- As attention to the importance of creating retirement income grows, a new MetLife study finds that plan sponsors of the largest workplace retirement plans and their recordkeepers have taken the first steps to help participants secure retirement income - but a lot more work needs to be done to pave the way for participants to begin to take action.
AB") today announced new research showing a decline in fiduciary awareness among plan sponsors from several years ago.
Many believe the pending accounting reform of pensions and other postemployment benefits (OPEB) will be bad for all corporate plan sponsors, will contribute to a decline in the stock price of sponsors with substantial liabilities and will ultimately increase the number of plans that freeze and terminate.
Laws governing pension plans are complex, and plan sponsors will need expert advice from competent counsel to make sure they are in compliance.