retirement plan sponsors

Retirement plan sponsors are organizations or employers that establish and maintain retirement savings plans, like 401(k)s or pension plans, for their employees. They are responsible for selecting plan providers, setting the rules, and ensuring the plan complies with legal requirements. Essentially, they act as managers overseeing the retirement benefits program, making certain employees have a structured way to save for their future. Their role is crucial in offering a secure, well-managed savings option and ensuring the plan operates smoothly and transparently.