You are meeting with the principles of a new group plan sponsor, HPC Solar Corp., to define the objectives for the group plan. They will offer a Defined Contribution Pension Plan (DCPP) which will not be a condition of an employment contract or collective bargaining agreement. They appoint the plan administrator who you will be coordinating with in order to implement the plan. Which of the following is a correct statement about the plan administrator?
a)		The administrator will be responsible for the management of the sponsor's contributions to the plan since it will be a non-contributory plan.
b)		The role of an administrator may be assumed by the plan sponsor, a board of trustees, a financial institution, or a pension committee.
c)		Final decisions concerning the design and structure of the plan will be the responsibility of the plan administrator.
d)		The plan administrator will be charged with the duty for the matching formula for sponsor contributions which cannot be terminated or changed.

Answer rating: 100% (QA)

Solution b The role of administrator may be assumed by the plan s... View the full answer