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Planet Source decides to implement a defined contribution pension plan (DCPP) for its 75 employees. The company's president appoints Josie, the human resources director, as the plan administrator. Which of the following BEST describes Josie's responsibility as a plan administrator?
Correct Answer: A
As a plan administrator for a defined contribution pension plan (DCPP), Josie's primary responsibility is to manage the pension plan, which includes overseeing day-to-day operations, ensuring regulatory compliance, and handling communications with plan members. According to LLQP, plan administrators are tasked with ensuring the effective management and administrationof the plan, rather than setting benefit structures or addressing funding issues, which are typically responsibilities of the employer. Options B, C, and D describe responsibilities typically held by the employer or plan sponsor, not the administrator.