It projects an invisible plasma shield that repels most forms of energy, including photon and radioactive energies, and even repulses isotopic residues that normally collect on an agent during time travel. Without the shield, these residues could conceivably be used by someone with the proper technology to track an agent in another time.
The suit has also been designed to compensate for unusual biological conditions. For example, if the agent were in an extremely cold environment, the suit would generate warmth to prevent freezing.
Other features of the Suit are Telezoom, Thermal Scan and Self Diagnosis.
All of the suit's protective functions require a great deal of energy. Pegasus stores excess energy created during the particle acceleration process for this reason, but this limited supply is only enough to support the suit's protective functions for a short while.
It was replaced by the Jumpsuit.