Purpose

To notify agencies of the termination of payroll deductions via electronic input file from PEF for deduction code 392, Transamerica Life Insurance.

Affected Employees

Employees who previously enrolled in payroll deduction for Transamerica (voluntary) Life Insurance offered through PEF

Effective Date(s)

Institution paychecks dated March 2, 2017 and Administration paychecks dated March 8, 2017

Background

The PEF Membership Benefits Program and Univers Transamerica Financial Life Insurance Company have each sent letters to affected employees notifying them that Univers Transamerica will no longer support payroll deduction for this voluntary life insurance effective March 1, 2017. Univers Transamerica will now bill policy holders directly.

OSC Actions

OSC will monitor input files submitted by PEF to ensure deduction code 392 has been terminated for all employees.

Agency Actions

Notify affected employees and advise employees to follow the directions provided in their letters from Univers Transamerica and the PEF Membership Benefits Program.

Questions

Questions regarding how employees can set up their new payment method should be directed to Transamerica at (888)763-7474.

Other questions regarding the Transamerica Life Insurance should be directed to the Univers Customer Service Department at (800) 626-0291.

Questions regarding this bulletin may be directed to the Payroll Deduction mailbox.