What Does A Retirement Plan Administrator Do?

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   Pete Wittman

   President, The Wittman Group, Tennessee

   The Retirement Plan Administrator typically is responsible for administering all aspects of the plan for the plan sponsor (normally a company sponsoring the plan).  Some of the duties include providing summary of the plan to participants, selecting investments for the plan, enrolling plan entrants in a timely manner.  Most plan administrators will contract with a third party to help with all the responsibilities, including filing Form 5500 (like a tax return for retirement plans) and often the testing required by the government to make sure the plan is not discriminating higher income employees over the lower income employees.

   Answered on April 7, 2014

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