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Broker: A Broker's primary role is to consult and present a pension/retirement plan to a Plan Sponser client that best fits the financial position and structure of their company. In addition, the Broker will usually offer investment advice to the Plan Sponsor and/or the Plan Participants, assist in participant enrollment as well as to monitor the stability and growth of the investments. The Broker also shares primary fiduciary responsibilities over the plan with the Plan Sponsor and/or appointed trustees.Financial Institution:The institution's primary role is to be the custodian of the plan's investments/assets, provide financial recordkeeping and issue financial statements/reports on the condition of the trust's assets.Plan Sponsor/Employer:The Plan Sponsor's primary role is to select a plan that best fits the financial position and structure of their company as well as a plan that offers a reasonably and secure opportinity to achieve a retirement income for their employees. The Plan Sponsor also acts as fiduciary in monitoring the plan's stability and growth, communicates with the broker and/or the third party administrator regarding plan compliance and regulation issues as well as to assist plan participants with general questions and administrative issues.Third Party Administrator:The primary role of a Third Party Administrator is to administer compliance and regulatory issues of the plan. This would include such issues as Annual Plan Document review of Compliance and Design, Compliance Testing, Participant Eligibility Determination, Calculation of Vested Amounts, Notice To Interested Parties and numerous other compliance functions. The Third Party Administrator will interact directly with Brokers and Financial Institutions as well as with the Plan Sponsor and in some cases with Plan Participants in the administration of a plan.Plan Participants/EmployeesThe primary role of Plan Participants is to contribute money to the plan and review their account statements, usually on a quarterly basis and communicate any concerns to the plan sponsor. For more information on Fiduciary Responsibilities please visit this link: http://www.dol.gov/ebsa/publications/fiduciaryresponsibility.html

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Each plan has certain key elements. These include:• A written plan that describes the benefit structure and guides day-to-day operations • A trust fund to hold the plan's assets• A recordkeeping system to track the flow of monies going to and from the retirement plan• Documents to provide plan information to employees participating in the plan and to the government

PENSION PLAN ADMINISTRATION - ROLES AND RESPONSIBILITIES

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