2018 401(k) Transamerica Changes

We are pleased to share with you exciting updates regarding your 401(k) plan with Transamerica. As part of our ongoing effort to provide continuous value to you and your employees, we have renegotiated our fee structure with Transamerica to help you realize a net savings beginning July 2, 2018.

As you know, the total cost of your 401(k) funds is determined by two factors: Contract Asset Charge (CAC) and Expense Ratio. We have negotiated a significant Expense Ratio reduction resulting in a more transparent fee-structure and net savings for both employers and employees. For details on specific fund Expense Ratios and associated savings, please reference our July Fund Lineup document.

On May 25, 2018, Transamerica will be mailing an “Important Notice to Participants” to all eligible participants. It is important to note that your overall savings are based on both the CAC adjustment and the reduced Expense Ratios that we’ve negotiated. For more information on specific funds, please reference the July Fund Lineup.

You can also find more information in this Frequently Asked Questions document.

If you have additional questions, please don’t hesitate to contact ProService Hawaii directly by emailing [email protected], or calling the Benefits Services Team at 808-725-6783.

For your convenience, you may find the complete list of helpful documents below:

  • July Fund Lineup: This document includes a list of all current and new fund names along with associated Expense Ratio reductions to explain how savings are realized.
  • Important Notice to Participants: This is the notice that Transamerica will be mailing to all plan participants starting on May 25, 2018. It is important to note that Transamerica’s plan notice only includes one part of the fee-structure (based on the CAC ratio), which is why referencing the July Fund Lineup document is more accurate.
  • Frequently Asked Questions Document: For additional details on these plan changes, please reference our FAQ document.