Who performs what roles under the Plan?
The employer adopts the plan and is the Plan Administrator. The Plan Administrator hires Integrity Plan Administrators LLC as the Recordkeeper, assigning to it certain mechanical functions (described in answer 2 above). Notwithstanding the delegation of these duties, the Plan Administrator retains all decision-making and discretionary functions and ultimate control over the actions of the Recordkeeper. The employer will appoint a Trustee of the Trust, which may, but need not, be an independent financial institution. The Plan Administrator remits funds to the Trustee who in turn remits premium to the insurance company. Funds do not flow through IPA.
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