Plan participants

Plan participants

Employees or other beneficiaries who are eligible to receive benefits from a company's employee benefit plan.

Plan Participant

One who contributes to and/or is eligible to receive benefits from an employer-sponsored retirement plan or pension. This includes person(s) contributing to a 401(k), as well as retired persons who are making withdrawals from their accounts. Plan participants' rights with regard to their plans are regulated by the Employee Retirement Income Security Act (ERISA). Covered employees have the right to see the plan's annual tax forms on demand, and the right to sue the plan. Generally, planned participants need to participate in the plan for a certain number of years before becoming eligible for the maximum allowable benefits.
References in periodicals archive ?
Without understanding basic investment concepts like dollar-cost averaging, target date funds or target risk funds, plan participants are challenged to adequately save for retirement.
The report shows also that loan activity among DC plan participants is higher than the level recorded five years ago.
The expenses 401(k) plan participants incurred for investing in long-term mutual funds declined in 2012, the Investment Company Institute (ICI) found.
Summary paragraph: Emerging best practice standards relating to financial literacy of plan participants
While we await, with varying degrees of anticipation, the latest pronouncements from Congress regarding how advice may be provided to plan participants by you (and me), let's begin with a look back.
The ExtraCare health card gives plan participants access to discounts on more than 1,300 CVS brand items.
For 401(k) plan sponsors, understanding the fees being charged helps fulfill their fiduciary responsibility to act in the best interest of plan participants. Participants should consider fees as well as the historical performance and investment risk for each plan option when investing in a 401(k) plan because fees can significantly decrease retirement savings over the course of a career.
* The Department of Labor requires employee benefit plan (EBP) audits for employers with more than 100 eligible plan participants and some smaller plans.
New monthly tables: The proposed rules would provide new mortality tables based on the tables contained in the RP-2000 Mortality Tables Report, which the IRS has determined is the best available basis for predicting mortality of pension plan participants and beneficiaries (other than disabled participants), based on plan experience and expected trends.
65), the tax-free withdrawals for qualified medical expenses at any age make them particularly attractive to many plan participants.
In addition to acting in the sole interest of plan participants and their beneficiaries, fiduciaries must carry out their duties prudently; follow the plan documents; diversify plan investments; and pay only reasonable plan expenses.
ln this way, plan participants may customize their retirement portfolios, and plan sponsors can satisfy their fiduciary responsibility to provide diversified investment alternatives.