A retirement plan sponsor is a company or employer that offers a retirement plan as a benefit to employees. As such, if you own a business or company that offers a 401(k) plan, for example, your business qualifies as a retirement plan sponsor.
Thereof, is American funds a retirement plan?
Capital Group, home of American Funds®, offers a variety of 401(k) plan solutions and investment options to help employers and plan participants meet their needs. To find out which options are best for you, talk to your retirement plan’s financial professional.
Subsequently, what is an Erisa plan sponsor?
The plan administrator may either be: Identified in the plan documents. The plan sponsor, which is either the: employer (if the employee benefit plan is established or maintained by a single employer). employee organization (if the plan is established or maintained by an employee organization); or.
Is a plan sponsor a fiduciary?
Inside you will find valuable information on important topics that may help you make decisions about your retirement plan. One of the most important duties you have as the sponsor of your company retirement plan is your fiduciary responsibility to act in the best interests of plan participants.