Plan Sponsor
/ˈplæn ˈspɒnsər/
Definitions
- (n.) An entity, often an employer or organization, that establishes and maintains an employee benefit plan, such as a retirement or health plan.
The plan sponsor is responsible for managing the retirement plan's fiduciary duties.
Forms
- plan sponsor
- plan sponsors
Related terms
See also
Commentary
The term 'plan sponsor' typically refers to the party legally responsible for the establishment and operation of an employee benefit plan; understanding the fiduciary duties attached to this role is essential for legal compliance.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.