According to the announcement, PASS by Transamerica offers capabilities not previously available to sponsors such as tracking new employees’ eligibility to enroll in the retirement plan, preparing enrollment materials and notices, and mailing to employees’ homes at the appropriate eligibility date. Other duties that can be delegated to the Transamerica plan administrative team include plan maintenance and mailings, loans, and distributions.
Under guidance from the sponsor or the sponsor’s third party administrator, Transamerica’s PASS representatives can assume a full suite of tasks and help sponsors ensure consistency in the way the plan is administered, the announcement said.
PASS can be used for single employer plans and multi-employer plans. Interested sponsors can visit www.TA-Retirement.com or call (888) 401-5826 Monday-Friday from 7 a.m. to 5 p.m. ET.
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