Transamerica Defines the ‘DB Plan Continuum’
Guidelines published by Transamerica highlight the importance of clean data and careful planning when it comes to minimizing defined benefit plan costs.
“Defined Benefit Plan Continuum,” a new white paper from Transamerica, helps plan sponsors and retirement advisory professionals “navigate the best course for their pension plan and better manage the plan’s costs over time.”
The research provides guidelines and direction to plan sponsors, advisers and consultants in effectively evaluating benefit design options and choosing a course that “lowers defined benefit plan costs while mitigating risks that might potentially affect their company’s bottom line.”
“Employers are striving to provide meaningful employee benefits while maintaining strong financial performance,” explains Transamerica Chief Operations Officer Blake Bostwick. “Quality reporting allows a plan sponsor to better review the plan’s demographics and financials, and enables the actuaries to provide more precise forecasts for review.”
Bostwick adds that “a thorough plan review using high quality data can allow plan sponsors to better manage the plan, fine tune reporting and help refine budgeting.”
“The Defined Benefit Plan Continuum” is available to financial professionals on Transamerica’s New Age of Advice website and to plan sponsors by calling Transamerica at 800-770-6797.
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