What are plan assets?

Plan assets refer specifically to the funds that are managed on behalf of employees within a long-term benefit plan, such as a pension or retirement fund. These assets are crucial in ensuring that an organization can meet its future obligations to employees who are entitled to benefits upon retirement or separation from service. The key characteristic of plan assets is that they are set aside in a separate account or fund, managed independently from the employer's general assets. This separation helps ensure that the funds are used solely for the purpose of paying employee benefits, safeguarding the interests of the employees.

In contrast, the other options do not accurately represent the concept of plan assets. Resources owned by any company do not specifically relate to employee benefits and can include various categories of assets. Personal assets of the employees pertain to the individual property of workers, which is entirely separate from the employer's obligation towards pension or benefit funds. Similarly, assets not related to employee benefits do not fall under the definition of plan assets, as they are not utilized for fulfilling retirement or other long-term benefit commitments.