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 ?
As I write this, we have just selected our 2017 PLANSPONSOR Retirement Plan Sponsors of the Year.
The number of plan sponsors not matching employee contributions to their retirement plans has significantly decreased over the past five years, according to new research.
Defined contribution (DC) plan sponsors were less active in certain areas in 2013 than in 2012, according to the Callan Associates 2014 DC Trends Survey.
Plan sponsors need impartial advice when assessing and selecting investment funds and service providers for their participant-directed 401(k) plans; however, many service providers and investment brokers might recommend investment funds and provide employee education that is not in the best interest of plan participants.
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.