Plan provider

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Plan Provider

In IRAs and other retirement accounts, the investment company that manages the plan. That is, a brokerage that invests an IRA on behalf of its contributor is the plan provider for that account. A plan provider may be a brokerage, insurance company, mutual fund, or any other investment company.

Plan provider.

The plan provider of a retirement savings plan, such as a 401(k), 403(b), or 457 plan, is the mutual fund company, insurance company, brokerage firm, or other financial services company that creates, sells, and manages the plan your employer selects.

References in periodicals archive ?
While 38% in this segment still recommend proprietary fund offerings from the plan provider, and 46% recommend TDFs provided by external third-party managers, Cogent suggests this is a clear sign of market evolution toward greater use of customization.
The study found that two chief brand consideration drivers were critical among established DC producers -- financial advisors that partner with sponsors and help recommend plan providers to companies for their 401(k)s -- managing at least $10 million in DC assets:
The Institute recommends that plan providers keep initiating these discussions with employers and encourage advisors to do the same.
LIMRA's report "Moving Ahead With Mobile: Mobile Technology Initiatives Among Defined Contribution Plan Providers" also indicates that roughly one in two plan providers view investments in mobile technology as a way to keep pace with competitors in an increasingly mobile business environment.
Both factors are further fueling the shift to passive solutions and as a result, plan providers are increasing the number of index fund options available to plan sponsors as a means of managing total plan expenses.
One plan provider has not allowed withdrawals or transfers since last September because of a low performing fund.
As stated earlier, approaching the search for a nonqualified plan provider in the same manner as one would in the search for 401(k) services can be problem for a number of reasons.
Based on the author's research, the median universe size now offered by plan providers is over 1,000 mutual funds.
As of January 2002 pension plan providers were required to vest matching contributions more quickly, choosing from one of two schedules.
Medicash is one of the largest health cash plan providers in the UK, with a turnover of pounds 22m, and has been in existence since 1871.
The survey ranks retirement plan providers in 23 categories consisting of plan sponsor and participant services.
Most experts agree that nearly all retirement plan providers will offer apps for mobile devices with functionality beyond that available on a web site.