Subscribe (Free) to
Daily or Weekly Newsletters
Post a Job

Featured Jobs

DB/DC Administrator

Primark Benefits
(Remote / San Mateo CA)

Primark Benefits logo

Pension Plan Administrator

DeMars Pension Consulting Services, Inc.
(Overland Park KS / MO / NE / OK)

Retirement Plan Administrator

Nicholas Pension Consultants
(Remote / Rancho Cordova CA / Corona CA)

Nicholas Pension Consultants logo

Trust Accounting/5500 Specialist

Sentinel Benefits & Financial Group
(Remote / Wakefield MA)

Sentinel Benefits & Financial Group logo

Pension Administrator

Actuaries Unlimited, Inc.
(Remote / Los Angeles CA)

Actuaries Unlimited, Inc. logo

Retirement Operations Specialist

Fringe Benefit Group

Fringe Benefit Group logo

Customer Success Associate

Guideline, Inc.
(Remote / Austin TX / Solana Beach CA / Portland ME / San Mateo CA / CO / FL / GA)

Guideline, Inc. logo

Retirement Plan Administrator

Prime Pensions Northwest, LLC

Prime Pensions Northwest, LLC logo

Retirement Plan Administrator

Fulton Bank / Fulton Financial Advisors

Fulton Bank / Fulton Financial Advisors logo

Client Manager DB/DC

CMC Pension Professionals
(Remote / Glendale CA)

CMC Pension Professionals logo

Retirement Plan Account Manager

Aegis Retirement Partners, LLC
(Remote / CT / MA / NH / RI)

Aegis Retirement Partners, LLC logo

Plan Administrator

BlueStar Retirement Services Inc.

BlueStar Retirement Services Inc. logo

Retirement Plan Administrator

Retirement Solutions Specialists, LLC

Retirement Solutions Specialists, LLC logo

Manager, Client Relationship Management

Guideline, Inc.
(Remote / Solana Beach CA)

Guideline, Inc. logo

Conversions Specialist

BlueStar Retirement Services, Inc.

BlueStar Retirement Services, Inc. logo

Member Services Supervisor

DC Retirement Board
(Remote / Washington DC)

DC Retirement Board logo

Pension Administrator

American Pension, LLC
(Berkeley Heights NJ)

American Pension, LLC logo

Plan Administration Manager

Southern Pension Services
(Remote / Tampa FL)

Southern Pension Services logo

View More Employee Benefits Jobs

Free Newsletters

“BenefitsLink continues to be the most valuable resource we have at the firm.”

-- An attorney subscriber

Mobile App image LinkedIn icon
Twitter icon
Facebook icon

BenefitsLink > Q&A Columns >

Who's the Employer?

Answers are provided by S. Derrin Watson, JD, APM

"What are the functions of management?" and Other Homework Problems

(Posted May 4, 2005)

Question 276: What are the functions of management?

Answer: For several years I've written this Q&A column. I receive many questions from practitioners dealing with the topic of this column: employer and employee issues relating to qualified plans.

From time to time, however, I receive questions that have absolutely nothing to do with employer and employee issues relating to qualified plans-- such as the question above.

It's the most frequently asked question I receive! The question is asked the same way every time. Exact same words. Year after year. I had two people ask the question last night. And so the only thing I can conclude is that the question comes from some college course, and these are students who are looking for help with their homework.

Here's a similar example which came in recently: "How does tax control, tax free issues, tax deductions, and tax credits affect investing?"

Having given the matter due reflection, I've decided not to be a homework resource for all comers with Internet access. I think I'd rather answer questions that deal with the topic of my column.

But for those really interested in management functions, take a look at Or, for a somewhat different outlook, you might try!

Actually, the Ohio State page is relevant for this column's intended audience of retirement plan professionals. The key to a management function group is an organization which, as its principal business purpose, provides management functions for one other organization, or one organization and other organizations related to it. (Code 414(m)(5).)

Unfortunately there's no Internal Revenue Code definition of a "management function." Nor is there a regulatory definition. Nor are there any reported cases under Code 414(m)(5).

I've long said that a management function is what a manager does: hire, fire, set policies, supervise, receive stock options, etc. The website to which I've referred describes 5 specific management functions: planning, organizing, staffing, directing, and controlling. There are examples of each. I submit that's a fairly good list of "what a manager does."

Class is over.

Important notice:

Answers are provided as general guidance on the subjects covered in the question and are not provided as legal advice to the questioner or to readers. Any legal issues should be reviewed by your legal counsel to apply the law to the particular facts of this and similar situations.

The law in this area changes frequently. Answers are believed to be correct as of the posting dates shown. The completeness or accuracy of a particular answer may be affected by changes in the law (statutes, regulations, rulings, court decisions, etc.) that occur after the date on which a particular Q&A is posted.

Copyright 1999-2017 S. Derrin Watson
Related links:

(restricted access)

(restricted access)

© 2022, Inc.