Plan Participant

A Plan Participant is someone who is enrolled in a retirement plan or benefits program provided by their employer, such as a pension or 401(k). They contribute money, either through payroll deductions or employer contributions, to save for retirement. Participants have rights to their funds, can manage their investments within the plan, and must follow the plan's rules. Essentially, a participant is a person actively involved in or entitled to the benefits of the employer-sponsored retirement or benefit plan.