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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 administratior 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.Yahoo Finance - Cite This Source - This Definition
- Browse Related Terms: 403(b) Plan, Central Registration Depository (CRD), Conduit IRA, Funds Receivable, Guaranteed investment contract (GIC), IRA rollover, Plan administrator, Plan provider, Plan sponsor, Rollover, Rollover IRA, transfer