Do You Want To Be A Great Plan Administrator? Know Your 10 Responsibilities

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As the plan administrator of an employee benefit plan, you need to understand the laws that govern these plans and your fiduciary responsibilities. As an employer, you're a fiduciary, even if you hire third-party service providers to manage certain aspects of the plan. Your basic responsibilities include depositing contributions, ensuring fees are reasonable, and sharing information with plan participants.\n \n In this post, we cover the responsibilities of plan sponsors. If an employee or internal committee manages your plan, they’re the plan administrators and should know this information too. Let’s dive in!\n \n [zone_spacer spacer=\"md\"]\n <\/p>

What are the 10 responsibilities of a plan administrator?<\/h2>

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  1. \n
  2. Deposit employee contributions<\/a><\/li>\n

Howard Cutler
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Howard Cutler is a Principal at Doeren Mayhew with over 30 years of experience in public accounting.

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