Frequently Asked Questions
Answers to the most commonly asked questions about Multiple Employer Plans
#1 Transamerica Center for Retirement Studies (TCRS), 17th Annual Transamerica Retirement Survey of workers 2016. This survey was conducted online within the U.S. by Harris Poll on behalf of TCRS between April 11-May 12,2016 among 4,1616 full-time and part-time workers, age 18 or older in for-profit companies of 10 or more employees, TCRS is a division of Transamerica Institute, a nonprofit, private foundation that is funded by contributions from Transamerica Life Insurance Company and its affiliates and may receive funds from unaffiliated third parties. For more information and full survey methodology, visit www.transamericacenter.org.
#2 #3 #4 This is also a benefit of a retirement plan in general.
#5 Please see service agreement to find out the specific service standards that apply to the Greater Bakersfield Chamber 401(k) Plan.
#6 Adopting employers will need to handle these functions if they are not part of a PEO arrangement.
#7 Adopting employers will need to handle these functions if they are not part of a PEO arrangement.
#8 The Fiduciary Warranty provides that the investment lineup made available by Transamerica provides sponsors with a broad range of investment alternatives to offer to participants, that such investment choices are selected in accordance with applicable prudence standards, and that investment options are suitable for long-term investing. The Fiduciary Warranty applies to the general due diligence conducted through the Transamerica Investment Monitor and does not apply to the performance of the underlying investment choices, nor does this Indemnification extend to claims that any expense paid directly or indirectly by the plan are reasonable, and it is still possible to lose money despite this warranty. Transamerica is not a fiduciary with respect to any plan nor is it responsible for any selection, monitoring, or de-selection of investment choices. See the Fiduciary Warranty for complete terms, limitations, and requirements.
#9 The Transamerica investment Monitor provides investment selection and monitoring due diligence related to the investment choices to clients so they may leverage it as they select and monitor the investments for their own plan. Clients and other interested parties must consult and rely solely upon their own independent advisors regarding their particular situation. All investments involve risk, including loss of principal and there is no guarantee of profits. Investors should carefully consider their objectives, risk tolerance, and time horizon before investing. This is not meant to be construed as investment advice. Transamerica is not a fiduciary with respect to the plan as defined by ERISA including sections 3(21), 3(38), or 3(16), nor is it responsible for a plan’s selection, monitoring, or de-selection of investments. Although the investment choices may meet the “significantly exceeds,” “meets/exceeds,” or “below” criteria, there are no guarantees of a profit and it is still possible to lose The quarterly Investment Scorecards help you fulfill this part of your fiduciary responsibility, and are provided as resources.