Transamerica to Provide Services for Smart’s Innovative Choice PEP

 Transamerica announced that the company will be providing recordkeeping and 3(16) plan administration services for a new pooled employer 401(k) retirement plan solution from Smart Retirement Solutions Inc., the Choice PEP. This innovative pooled employer plan (PEP) offers a streamlined and efficient workplace 401(k) retirement plan solution for employers looking to reduce their administrative burden. In addition, multiple 3(38) investment fiduciaries are available to adopting employers.
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“We are honored to work with Smart as the recordkeeper for the Choice PEP,” said   Phil Eckman , President of Workplace Solutions for Transamerica. “This collaboration underscores our commitment to providing employers with cost-efficient retirement plan solutions that simplify plan administration and deliver long-term value to their employees.”
Smart is the Choice PEP’s Pooled Plan Provider. A Pooled Plan Provider sponsors a PEP and oversees its service providers. A PEP allows unrelated employers to participate in a single retirement plan. Because many employers do not have expertise in plan fiduciary duties, a Pooled Plan Provider provides support for those fiduciary responsibilities. A PEP offers shared fiduciary responsibility for an adopting employer and potential efficiencies around investment, administration, and audit costs.
“We are delighted to be working with Transamerica to bring innovative, technology-forward PEP solutions to the marketplace in order to help more employers provide retirement plans to their employees,” said  Jodan Ledford , CEO for Smart in the U.S.
Transamerica is a leading provider of financial services, including retirement plans, insurance, and investment solutions. With a long-standing commitment to innovation and customer service, Transamerica empowers individuals and businesses to build a better financial future.
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With a history that dates back more than 100 years, Transamerica is a leading provider of life insurance, retirement, and investment solutions, serving millions of customers throughout  the United States . Transamerica’s dedicated professionals focus on helping people live well today and empowering them to create a better tomorrow through saving, investing, and protecting their loved ones. Transamerica serves nearly every customer segment, providing a broad range of quality individual life insurance policies, workplace supplemental insurance benefits, workplace retirement plans, individual retirement accounts and investment products including mutual funds,
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