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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.
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