Plan administrator

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 ?
Auditors of employee benefit plans should not have any financial interests in the plan or the plan administrator that would affect their ability to render an objective, unbiased opinion about the plan's financial condition.
The highest rated stock plan administrator is AST Equity Plan Solutions with an overall satisfaction rating of 91% favorable for fully outsourced service plan administration.
According to Rose Mary Abrams, corporate paralegal and stock plan administrator at AmberWave Systems Corp.
For distributions made directly to employees, the plan administrator would have to provide employees this same information on request, except the statement would not have to indicate the first year of the five-year tax period.
NovaSys Health, an Arkansas-based managed care company and health plan administrator, has been elected as a health plan administrator for the Arkansas State Employees Association (effective Jan.
HRA relies on PAI as its plan administrator for enrollment, eligibility and billing, as well as coordination of third-party administrative contracts for provider networks and claims.
Action: Employee and his wife, both of whom were covered under a self-insured group health plan subject to ERISA, brought suit against the plan administrator for alleged bad faith failure to pay benefits for wife's in vitro fertilization (IVF).
A 401(k) plan administrator who chooses the investments for a participant under an automatic enrollment plan has potential liability as a fiduciary.
Turner elected to outsource its EDC plan administration to provide ease of access and accountability for accurate recordkeeping, and it works with an independent broker for coordination with the insurance company in addition to a plan administrator.
To have a winning 401(k) plan strategy, you must come to agreement on tees, operations procedures, Investment options and employee education with your plan administrator.
In its capacity as Plan Administrator in the case, Clear Thinking Group mailed checks on August 18 to the members of the general unsecured creditors, convenience, priority and administrative creditors classes.