The plan trustee is also responsible for the financial transactions involving the plan, including the payment of benefits to participants. Besides submitting plan contributions and participant information as necessary to the service administrator, the plan trustee is usually responsible for providing the service administrator with year-end census data needed to calculate funding requirements.

In certain situations, the trustee has the task of selecting the investment products to fund the plan or hiring an investment manager. These tasks put the trustee in a fiduciary capacity, which means extra care must be taken when making decisions including portfolio choices.

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