TPA Forum Leecea Johnson Vice President Operations The

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TPA Forum Leecea Johnson Vice President Operations The Ritz-Carlton, South Beach, Miami • June TPA Forum Leecea Johnson Vice President Operations The Ritz-Carlton, South Beach, Miami • June 6 - 8, 2005

Overview § Recordkeeping Overview § TPA Services § Sponsor Services § Participant Services § Overview § Recordkeeping Overview § TPA Services § Sponsor Services § Participant Services § Service Guarantees Transamerica TPA Forum • Transamerica Retirement Services 2

Recordkeeping Overview § 100+ Benefits Professionals located in New York § Recordkeeping over 3, Recordkeeping Overview § 100+ Benefits Professionals located in New York § Recordkeeping over 3, 000 Plans § Defined Contribution, Daily Valuation Proprietary Recordkeeping System § 24 -hour telephone Voice Response System § Participant Call Center - Monday through Friday, 8 am to 8 pm EST § Participant and Plan Sponsor transactional Websites Transamerica TPA Forum • Transamerica Retirement Services 3

TPA Services - Our goal is to make your job easier Transamerica TPA Forum TPA Services - Our goal is to make your job easier Transamerica TPA Forum • Transamerica Retirement Services 4

TPA Services Keep you informed: § Plan installation & reconciliation data § Quarterly Activity TPA Services Keep you informed: § Plan installation & reconciliation data § Quarterly Activity Statements & Valuation Reports § TPA web site and data download for year end testing § Year-end Audit Package Transamerica TPA Forum • Transamerica Retirement Services 5

TPA Services Keep you informed: § Payroll Remittance confirmation notices § Loan documentation, promissory TPA Services Keep you informed: § Payroll Remittance confirmation notices § Loan documentation, promissory notes, amortization schedules § Loan Default letters § RMD & QDRO activity Transamerica TPA Forum • Transamerica Retirement Services 6

TPA Services TPA Single Point of Contact: § TPAConnect 1 -877 -398 -7526 Team TPA Services TPA Single Point of Contact: § TPAConnect 1 -877 -398 -7526 Team Leader: Mark Villanueva Transamerica TPA Forum • Transamerica Retirement Services 7

Plan Sponsor Services Transamerica TPA Forum • Transamerica Retirement Services 8 Plan Sponsor Services Transamerica TPA Forum • Transamerica Retirement Services 8

Plan Sponsor Services § § § § Employee Enrollment Contribution Processing Distribution Processing Loan Plan Sponsor Services § § § § Employee Enrollment Contribution Processing Distribution Processing Loan Administration Daily Reconciliation Audit Packages Quarterly Statements Transamerica TPA Forum • Transamerica Retirement Services 9

Employee Enrollment On-line or by Form § Select Deferral % (Maintained by Sponsor) § Employee Enrollment On-line or by Form § Select Deferral % (Maintained by Sponsor) § Select Investment Allocations (Future changes via VRU / Web) § Stop Pre-tax & Catch-up contributions § Designate Beneficiary (Maintained by Sponsor) Transamerica TPA Forum • Transamerica Retirement Services 10

Contribution Processing § Data Remittance Methods § Internet Upload preferred method § 3 -1/2” Contribution Processing § Data Remittance Methods § Internet Upload preferred method § 3 -1/2” Diskette § Contribution Remittance Method § Automatic Clearing House (ACH) § Wire Transfer § Check Transamerica TPA Forum • Transamerica Retirement Services 11

Contribution Processing § Contributions invested in “Default” fund in the event of missing or Contribution Processing § Contributions invested in “Default” fund in the event of missing or incomplete participant investment elections § Default fund selected by Sponsor § Default confirmations provided to Sponsor and Participant Transamerica TPA Forum • Transamerica Retirement Services 12

Payroll Upload Transamerica TPA Forum • Transamerica Retirement Services 13 Payroll Upload Transamerica TPA Forum • Transamerica Retirement Services 13

Data Validation Transamerica TPA Forum • Transamerica Retirement Services 14 Data Validation Transamerica TPA Forum • Transamerica Retirement Services 14

Online Confirmation Transamerica TPA Forum • Transamerica Retirement Services 15 Online Confirmation Transamerica TPA Forum • Transamerica Retirement Services 15

Automated E-Mail Transamerica TPA Forum • Transamerica Retirement Services 16 Automated E-Mail Transamerica TPA Forum • Transamerica Retirement Services 16

Online Confirmation Transamerica TPA Forum • Transamerica Retirement Services 17 Online Confirmation Transamerica TPA Forum • Transamerica Retirement Services 17

Vesting §Sponsor encouraged to submit full census each payroll §Vesting calculated and updated according Vesting §Sponsor encouraged to submit full census each payroll §Vesting calculated and updated according to method in document §Vesting update request sent to plan sponsor in November to request hours by participant to update vesting in time for 4 th quarter statement (copy to TPA) §Vesting can be suppressed on statements, web, VRU Transamerica TPA Forum • Transamerica Retirement Services 18

Distribution Processing §Distributions must be approved by an authorized signor (can be TPA) §Distribution Distribution Processing §Distributions must be approved by an authorized signor (can be TPA) §Distribution forms are available on Employer web site §Beneficiary Designations maintained by Plan Sponsor § 1099 R Forms produced §Tax Notices included with Distribution Forms Transamerica TPA Forum • Transamerica Retirement Services 19

Distribution Processing - cont. § Distribution Events: § § § Total Distributions Forced Distributions Distribution Processing - cont. § Distribution Events: § § § Total Distributions Forced Distributions In-service Withdrawals Required Minimum Distributions QDRO Forfeitures Transamerica TPA Forum • Transamerica Retirement Services 20

Distribution Processing - cont. § Participant Terminations § § Lump Sum Installment Annuity Joint Distribution Processing - cont. § Participant Terminations § § Lump Sum Installment Annuity Joint & Survivor Provisions § Retirement § Death Benefit § Death Certificate Required § Disability § SSA Documentation Required Transamerica TPA Forum • Transamerica Retirement Services 21

Distribution Processing - cont. §Forced Distributions < $5, 000 § Plan sponsor sends via Distribution Processing - cont. §Forced Distributions < $5, 000 § Plan sponsor sends via priority mail: Letter, Distribution Form and Tax Notice to terminated participant with account balances less than $5, 000. § Letter from Sponsor for notification of forced distributions after 30 days for participants with confirmed receipt of notification § TRS has chosen Harrisdirect to assist plan sponsors in complying with the new automatic rollover IRA provisions. Transamerica TPA Forum • Transamerica Retirement Services 22

Distribution Processing - cont. § In Service Withdrawals § Hardships § Trustee responsibility for Distribution Processing - cont. § In Service Withdrawals § Hardships § Trustee responsibility for proof of hardship § Age 59 -½ Withdrawals § Rollover Account § After-Tax Account Transamerica TPA Forum • Transamerica Retirement Services 23

Distribution Processing - cont. § Minimum Required Distributions § § MRD amount calculated 4 Distribution Processing - cont. § Minimum Required Distributions § § MRD amount calculated 4 th Qtr mailing to Plan Sponsors and TPA can review calculation and participant data Plan sponsor provides participants with MRD forms § MRD processed for returned forms Transamerica TPA Forum • Transamerica Retirement Services 24

Distribution Processing - cont. § QDRO § Model QDRO can be obtained via TRS Distribution Processing - cont. § QDRO § Model QDRO can be obtained via TRS § TPA reviews all DRO, Plan administrator will determine if Qualified § Pending DRO – Restrictions prohibiting distributions & loans § Signed copy to TRS of final QDRO § Immediate Distribution or § Account Segregation Transamerica TPA Forum • Transamerica Retirement Services 25

Forfeitures §Forfeitures taken according to terms of the plan document §Forfeitures used after the Forfeitures §Forfeitures taken according to terms of the plan document §Forfeitures used after the close of the plan year: § Pay Plan Expenses § Reduce Employer Contributions § Reallocate to employee §Plan sponsor directs us in writing §Forfeitures invested in fund chosen by Sponsor Transamerica TPA Forum • Transamerica Retirement Services 26

Loan Administration § Loan Requests: § Plan design determines number of loans, recordkeeping system Loan Administration § Loan Requests: § Plan design determines number of loans, recordkeeping system limit is 20 loans. § Request loans via Form or paperless § Paperless requests only for General Purpose loans, and no J&S requirements. § Paperless loan requests initiated by 4: 00 pm EST processed next day. Check received within 5 days Transamerica TPA Forum • Transamerica Retirement Services 27

Loan Administration - cont. § Loan Payments: § Interest & Principal applied to loan Loan Administration - cont. § Loan Payments: § Interest & Principal applied to loan payment § Loans can be paid off anytime, partial payments not permitted. § Loan delinquent report generated for participants that have not made a loan payment in the last 90 days Transamerica TPA Forum • Transamerica Retirement Services 28

Quarterly Reports § Participant Statements mailed to homes § Plan Sponsor summary reports mailed Quarterly Reports § Participant Statements mailed to homes § Plan Sponsor summary reports mailed to sponsor § Mailed within 10 business days of the end of the quarter § TPA automatically receives a copy of all sponsor summaries Transamerica TPA Forum • Transamerica Retirement Services 29

Participant Services Transamerica TPA Forum • Transamerica Retirement Services 30 Participant Services Transamerica TPA Forum • Transamerica Retirement Services 30

Participant Services PIN Letter and card § Mailed within 5 business days of completed Participant Services PIN Letter and card § Mailed within 5 business days of completed plan set-up § Includes Participant Website instructions § Includes instructions for Participant Voice Response Unit (VRU) Transamerica TPA Forum • Transamerica Retirement Services 31

Participant Services - cont. Trans. Direct – Internet & VRU § On-Line Enrollment (if Participant Services - cont. Trans. Direct – Internet & VRU § On-Line Enrollment (if plan sponsor chooses) § Change PIN § Account Balance Information § By Investment Fund § By Account Type § Investment Direction Information § Change current Investment Elections § Transfer existing balances (Fund to Fund or Rebalancing) Transamerica TPA Forum • Transamerica Retirement Services 32

Participant Services - cont. § Loan information § Outstanding loan balance § Loan modeling Participant Services - cont. § Loan information § Outstanding loan balance § Loan modeling § Amount available for withdrawal § Obtain Investment Performance § Advice. Solutions § AT&T Language Line Transamerica TPA Forum • Transamerica Retirement Services 33

Participant Services - cont. Quarterly participant statement Quarterly Worth A Look newsletter Transamerica TPA Participant Services - cont. Quarterly participant statement Quarterly Worth A Look newsletter Transamerica TPA Forum • Transamerica Retirement Services 34

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Our Services are guaranteed…. . or… your plan sponsor doesn’t pay for that service! Our Services are guaranteed…. . or… your plan sponsor doesn’t pay for that service! Transamerica TPA Forum • Transamerica Retirement Services 37

Service Standards versus Actual Performance January 1, 2004 through December 31, 2004 Service Standard-2005 Service Standards versus Actual Performance January 1, 2004 through December 31, 2004 Service Standard-2005 Contribution allocated/ACH requested within 1 Business Day Participant Distributions/Loans Processed within 3 Business Days Participant Activity Statements mailed within 10 Business Days Enrollment Kits mailed within 10 Business Days Transamerica TPA Forum • Transamerica Retirement Services Transamerica Actual-2004 98. 99 % processed within 1 business day 99. 21% processed within two business days 97. 17% processes within 10 business days 97. 4% mailed within 10 business days 38

Q&A Transamerica TPA Forum • Transamerica Retirement Services 39 Q&A Transamerica TPA Forum • Transamerica Retirement Services 39

The Ritz-Carlton, South Beach, Miami • June 6 - 8, 2005 The Ritz-Carlton, South Beach, Miami • June 6 - 8, 2005




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