TriNet, a provider of HR services to small and medium-sized businesses, hired Empower Retirement as the record keeper for its $4.9 billion multiemployer 401(k) plan, TriNet announced in a news release Thursday.
The previous record keeper was Transamerica, according to TriNet's latest Form 5500 filing.
Participants in the TriNet 401(k) Plan will have expanded website capabilities, including one-click Spanish translations, as well as a designated team of Spanish-speaking service center representatives, the news release said. Empower will also have specialists available to assist with life events, including divorce, hardships, survivor support and financial wellness.
Transamerica did not immediately respond to a request for comment.
