NU Online News Service, Jan. 14, 3:53 p.m. – Transamerica Retirement Services, Los Angeles, has added online enrollment and contribution change features to the Web site for its 401(k) group annuity program, at http://www.ta-retirement.com
Transamerica is also adding an automated system that employees can use to enroll in 401(k) plans and set contribution levels over the telephone.
Transamerica previously offered similar electronic administration tools to members of large 401(k) plans, but the new, Web-based and telephone-based tools will be aimed mainly at small and midsize plans, the company says.
Transamerica is a unit of Aegon, N.V., The Hague, Netherlands.
Transamerica is the second major 401(k) plan company to announce the expansion of Web-based enrollment features this year. Hartford Life Insurance Company, Simsbury, Conn., announced the addition of similar features to its defined contribution programs Jan. 10.