What is the (k)larity Plan™?
The (k)larity Plan™ is a pooled employer plan (PEP) that offers a unique retirement plan structure that can help you attract and retain talented employees while maximizing plan management efficiencies.
What is a Pooled Employer Plan (PEP)?
PEP is a type of multiple employer plan consisting of a collection of unrelated single employers, which share a common pooled plan provider, named fiduciary, investment advisor, investment menu, plan year, and trustee.
What are the benefits of joining a PEP?
When you adopt the PEP, your employees gain access to a valuable retirement benefit. And you may gain the benefits that come with economies of scale. These can include easing your administrative burden, reducing your fiduciary risk, and potentially lowering your overall plan expense.
- Simplified
administration →You are able to offload the majority of administrative tasks, such as processing distributions, participant enrollment/communications, eligibility tracking, and compliance testing/reporting - Reduced
fiduciary liability →The PEP offers substantial
fiduciary support. - Flexible plan
design →You’ll have the flexibility to tailor your plan based on your employee data; e.g., eligibility, vesting schedule, loans, withdrawals, matches, and more - Potential cost
savings →Economies of scale allow for group pricing, lower-cost investment options, and potentially lower fees for compliance testing, audits, document preparation, and Form 5500 filings. - Easy adoption
process →You’ll receive hands-on guidance throughout the process. A dedicated service team is available to answer questions for you and your employees, ensuring seamless integration of your plan - Eliminate
Individual Plan
Audits →As a part of a Pooled Employer Plan (PEP), the need for individual plan audits is eliminated.
The (k)larity Plan™ Participant Experience
Every step of the journey, Transamerica will be there to help your employees. Our easy-to-use tools and action-oriented education can help them move forward with confidence
- 24/7 Online Account Access
Through our fully responsive participant website or mobile app, your employees can enroll in your retirement plan and make changes to their account whenever, wherever, and however they want. - Your Retirement Outlook®
Using easy-to-understand weather icons, Transamerica’s OnTrack® tool helps participants see how they’re doing on the road to retirement. These personalized forecasts also offer actionable suggestions they can take to improve their chances of meeting their retirement income goals. - Personalized Support
Your employees will also have access to our professional support team along their journey to retirement readiness. Our customer care representatives can help with account questions, while our retirement planning consultants and retirement advisors are available to help them navigate larger financial decisions and life events. - Financial Wellness Center
All your employees can access Transamerica’s Financial Wellness Center. Designed to enhance financial literacy, this online resource features 20 self-
Access to the (k)larity @ Work™ team
As a part of this plan, your employees will have access to our team of financial planners to receive personalized, one-on-one financial advice. Learn more about each of these team members by clicking on their picture below.
