401(k) Profit Sharing Plan and Trust

Written by True Tamplin, BSc, CEPF®

Reviewed by Editorial Team

Updated on March 13, 2023

Many 401(k) profit sharing plans still use a trust, who may also be the administrator, to oversee the assets in the plan.

The purpose of the trust is to handle the managerial aspects of the plan.

The trust has a fiduciary responsibility to act in the best interests of the participants.

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About the Author

True Tamplin, BSc, CEPF®

True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.

True is a Certified Educator in Personal Finance (CEPF®), author of The Handy Financial Ratios Guide, a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics.

To learn more about True, visit his personal website, view his author profile on Amazon, or check out his speaker profile on the CFA Institute website.

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