A plan administrator is the company, committee of employees, business executive, or individual an employer selects to be responsible for its retirement plan. The administrator and plan provider ensure government regulations are met and make investment determinations with the contributions from employees and the employer. The plan administrator is responsible for ensuring the fund remains on sound financial footing. Is is also the plan administrator’s duty to provide employees with the information they need to change investments or enroll and select options in the plan, as well as request distributions and apply for a loan if the plan permits them.
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