Plan Trustee
/ˈplæn ˈtruːsti/
Definitions
- (n.) An individual or institution appointed to administer and manage the assets and obligations of an employee benefit plan, such as a pension or retirement plan, in accordance with the plan documents and applicable law.
The plan trustee is responsible for investing the pension fund prudently and distributing benefits to eligible participants.
Forms
- plan trustee
- plan trustees
Related terms
See also
Commentary
The plan trustee holds a fiduciary role distinct from other fiduciaries by focusing on plan asset management and compliance with plan documents and ERISA requirements.
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.