Frequently Asked Questions
What is Transamerica PAC?
Transamerica PAC is a
Separate Segregated Fund, political action committee (PAC) organized by Transamerica Corporation for eligible employees of Transamerica Corporation and its affiliated companies.
Transamerica PAC pools contributions to support federal candidates who understand and value our business, our products, and our customers.
Transamerica PAC is funded by employee contributions.
Transamerica PAC is nonpartisan.
All contributions to the PAC are used to make contributions to campaigns and trade association PACs. Administrative costs are paid by the company.
Why does Transamerica need a PAC?
The PAC provides Transamerica with a unified voice in the federal political process.
A PAC is a vital tool in the federal government affairs process. Having the ability to participate in the federal campaign process allows us, as One Transamerica, to support candidates who understand and care about our business.
Who can contribute to the PAC?
- Employees of Transamerica and its affiliated companies who meet the FEC's definition of "solicitable class" can contribute. The FEC definition generally tracks with the "exempt" status provided by the Department of Labor.
- PAC contributors must be U.S. Citizens or have Permanent Resident status.
Why should I contribute to the PAC?
As an employee of a Transamerica company, you have a personal stake in seeing your company operate in a positive political and regulatory climate. Participation in the PAC allows you to make a difference.
The Transamerica PAC is a good example of strength in numbers. While the amount that one of us might contribute individually may seem small, the strength of our combined efforts can support a number of candidates with significant impact.
Do the MSRB G-37 Rules or SEC Pay to Play Rules restrict my ability to make a contribution to the PAC?
Transamerica's PAC Manager and PAC
Board take steps to ensure that no disbursements would trigger G-37 or
Pay to Play rules for any of our members or potential members.
- As a "clean PAC," employees who are registered investment advisors may contribute to the PAC without risk of triggering the Pay to Play rules.
If you have any question about how
those rules may affect other political contributions, outside of
Transamerica PAC, please reach out to
Who makes the contribution decisions?
The Transamerica PAC Board, with input from the government affairs team, makes decisions on which campaigns should receive contributions.
The PAC Board currently consists of Mark Mullin as Chairman, and board members Mark Bloom, Blake Bostwick, Kent Callahan, and Eric Martin.
The PAC Board meets annually to review the slate of candidates recommended by the Government Affairs staff to receive contributions.
How do the Supreme Court Rulings surrounding campaign finance affect the PAC?
The most recent campaign finance rulings have focused on doing away with the aggregate limits placed on individuals' contributions in a two-year period (McCutchen v FEC) and independent expenditures (Citizens United v FEC). Neither of these things affects Transamerica PAC because our contribution limits were not changed, and we do not participate in independent expenditures on our own or through contributions to Super PACs.