According to Transamerica, the new product’s key benefits are its low investment management fees and diverse fund selection, allowing plan sponsors to select up to 17 investment options out of 67 funds offered by 16 well-known mutual fund families.
Plan sponsors also benefit from a list of administrative services offered by Transamerica Retirement Services, including:
- online enrollment,
- ERISA guidance and plan consulting,
- fund mapping,
- self-directed brokerage accounts,
- asset allocation and automatic portfolio rebalancing,
- non-discrimination and compliance testing,
- sponsor and participant Web sites, and
- employee education tools
The Plan also offers a Voice Response Unit and Web site access for both English and Spanish-speaking participants, as well as use of the AT&T language line for service in over 120 additional languages.