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The plan sponsor (also known as the “employer” or “group”) is the entity that sponsors, crafts, offers, maintains, and funds the plan. While the duties of a plan administrator may be delegated to an entity other than the employer, the law invariably requires that the employer be considered the plan sponsor. [7]
Project sponsorship. Project sponsorship is the ownership of projects on behalf of the client organization. [1] There are two main differences between project sponsorship and project management. Firstly project sponsorship includes the identification and definition of the project whereas project management is concerned with delivering a project ...
Medicare Part D. Centers for Medicare and Medicaid Services logo. Medicare Part D, also called the Medicare prescription drug benefit, is an optional United States federal-government program to help Medicare beneficiaries pay for self-administered prescription drugs. [1] Part D was enacted as part of the Medicare Modernization Act of 2003 and ...
401 (k) In the United States, a 401 (k) plan is an employer-sponsored, defined-contribution, personal pension (savings) account, as defined in subsection 401 (k) of the U.S. Internal Revenue Code. [1] Periodic employee contributions come directly out of their paychecks, and may be matched by the employer.
Personal finance. Defined benefit (DB) pension plan is a type of pension plan in which an employer/sponsor promises a specified pension payment, lump-sum, or combination thereof on retirement that depends on an employee's earnings history, tenure of service and age, rather than depending directly on individual investment returns.
Medicare.gov logo. Medicare Advantage (Medicare Part C, MA) is a type of health plan offered by Medicare-approved private companies that must follow rules set by Medicare. Most Medicare Advantage Plans include drug coverage (Part D). Under Part C, Medicare pays a sponsor a fixed payment. The sponsor then pays for the health care expenses of ...
Solo 401 (k) A Solo 401 (k) (also known as a Self Employed 401 (k) or Individual 401 (k)) is a 401 (k) qualified retirement plan for Americans that was designed specifically for employers with no full-time employees other than the business owner (s) and their spouse (s). The general 401 (k) plan gives employees an incentive to save for ...
The Federal Employees Health Benefits (FEHB) Program is a system of "managed competition" through which employee health benefits are provided to civilian government employees and annuitants of the United States government. The government contributes 72% of the weighted average premium of all plans, not to exceed 75% of the premium for any one ...