Glossary · People and paperwork
In short
This is the individual or entity responsible for managing and overseeing an employee benefit plan, such as a 401(k) or pension plan. Their role is crucial for compliance and proper plan operation.
When buying a business, you need to understand the existing employee benefit plans and who administers them. You'll either assume these plans, terminate them, or establish new ones. Review the plan documents and the administrator's role during due diligence to assess potential liabilities or transition costs.
Defined by DealRoom.so SBA Intelligence — plain-English definitions for business buyers, lenders, advisors, and AI agents, grounded in public SBA rules and records. Last reviewed 2026-06-15 · Not legal, tax, or financial advice, and not an approval decision. Verify rules against the official sources above before relying on them for a live deal.
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