What is a Plan Sponsor

What is a Plan Sponsor

Retirement Plan Consultants assist a variety of people with retirement planning, including financial advisors, plan participants and plan sponsors. In this post, we’ll take a closer look at plan sponsors. A plan sponsor is essentially the company that offers a retirement plan to its employees. 

Plan Sponsor Responsibilities

If you’re the designated plan sponsor at your company, you might have varying responsibilities. Some plan sponsors make important decisions to determine the retirement’s plan design and employee eligibility. You also may also be responsible for regularly reviewing, updating and revising the plan. 

Some companies enroll the help of a third-party company, like Retirement Plan Consultants, to handle the company’s retirement plan. If that’s the case, we can provide resources to help guide you: 

• Enrollment assistance resources, such as guides to walk employees through completing common actions on participant and plan sponsor websites
• Web guides on how to select and adjust contributions
• Calculators to help employees plan for retirement
• Investment term glossary to help explain investment and retirement planning terminology
• Helpful FAQs
• Easy to complete forms for the plan sponsor and employee participants
• Questionnaires about “how to invest” to help participants plan
• Informational quarterly newsletters
• Educational webinars

Feel free to contact us if you’re a plan sponsor and have additional questions. We’re passionate about what we do and enjoy helping with all of your investment questions!