Probable regulatory subunit of serine/threonine-protein phosphatase let-92 which negatively regulates the insulin receptor signaling cascade composed of daf-2, age-1, akt-1, akt-2 and sgk-1 by promoting the dephosphorylation of akt-1 on 'Thr-350' (PubMed:19249087). Negatively regulates several functions controlled by the insulin pathway including dauer formation, lifespan, fat storage and stress resistance (PubMed:19249087). Plays a role in the asymmetric segregation of the P granule components during embryonic cell divisions but does not play an essential role in specifying germ cell fate (PubMed:21127218). Within a PP2A phosphatase complex, acts redundantly with pptr-2, to dephosphorylate P granule components including meg-1 and meg-3 to promote the assembly and accumulation of zygotic P granules in the posterior cytoplasm during zygote polarization, and thus maintain P granule distribution and segregation in early stage embryos following meiosis (PubMed:25535836). In adults, required to promote germ cell proliferation and differentiation when exposed to thermic stress (PubMed:21127218). Part of a complex consisting of a common heterodimeric core enzyme, composed of catalytic subunit let-92 and constant regulatory subunit paa-1, that associates with a variety of regulatory subunits which confer distinct properties to the holoenzyme (Probable). Interacts with akt-1 but not akt-2 (PubMed:19249087). Interacts with sgk-1 (PubMed:19249087). Interacts with P granule components meg-1, meg-3 and meg-4 (PubMed:25535836). Expressed in pharynx, vulva and spermatheca. Mutants have small gonads and the number of progeny is reduced (PubMed:21127218). At higher temperatures, 20 percent of mutants are sterile with no gametes (PubMed:21127218). Mutant embryos display several defects in P granule partitioning during the first cell divisions. Unlike in wild-type, plg-1-positive granules becomes unstable during mitosis resulting in their disassembly and in the loss of asymmetric segregation of plg-1 between somatic and germline blastomeres (PubMed:21127218). plg-1-positive granules reform during interphase but are fewer and smaller (PubMed:21127218). By the 100-cell stage, only small granules remain, and these are not enriched in Z2/Z3 primordial germ cells compared to wild-type. In addition, asymmetric segregation of cey-2 and nos-2 mRNAs, 2 components of P granules, is lost without affecting their degradation in the somatic lineage after cell division (PubMed:21127218). RNAi-mediated knockdown suppresses constitutive dauer formation, and, increases lifespan, fat storage and thermotolerance and reduces daf-16 nuclear localization in a daf-2 (e1370) mutant background (PubMed:19249087). Belongs to the phosphatase 2A regulatory subunit B56 family.