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.
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.
References in periodicals archive ?
How does a plan administrator file a delinquent Form 5500 under the DFVCP?
Even if a plan administrator does not fulfill its fiduciary duties pursuant to trust law, the Tenth Circuit will still rely on those same principles to protect the company by limiting the rights of the beneficiary to present evidence and recover from wrongful conduct.
(8) If a participant in a defined benefit plan requests a statement of individual benefits under the plan, the plan administrator must provide it within 30 days.
401(k) plan participant had a right to sue the plan administrator for breach of fiduciary duty under ERISA [section] 502(a)(2) (LaRue u.
However, the IRS treats reimbursements from a nonaccountable plan as "automatic" excess benefit transactions unless they are caught quickly by the plan administrator and included as wages on the employee's W-2 or the disqualified person includes them as income on his or her tax return.
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.
The Ninth Circuit had ruled that ERISA, like the Social Security Act, imposed the "treating physician rule." The Supreme Court rejected this position and determined a plan administrator was free to give greater weight to the conclusions of a physician who conducted an independent assessment at the behest of the plan administrator than to the employee's treating physician.
Ineligibility for COBRA -- If the plan administrator receives notice of a qualifying event from an employee or family member who is not eligible for COBRA, the plan administrator must provide a notice to the individual explaining why he/she is not eligible for COBRA.
A continuing controversy on this front is the degree of freedom a benefit plan administrator (usually a health insurance company claims adjuster) has in denying such claims.
Under ERISA, an unambiguous conferral of discretion means an appellate court has to decide only whether the plan administrator's decision was unreasonable, a relatively light burden for administrators to prove.
Microsoft disagreed, and Vizcaino and colleagues asked the Savings Plus Plan administrator to exercise his authority to declare them eligible for benefits.
cannot be answered immediately by the plan administrator.