Transamerica Director Series II and the Transamerica Partner Series II, which is designed specifically for the third-party administrator channel, feature expanded separate account investment options, including access to American and IDEX funds, reduced fees, and more flexible fund selection guidelines for company plan sponsors. The new offerings succeed Transamerica Retirement Services’ Transamerica Director Series I and Transamerica Partner Series I.
Transamerica Retirement Services has formed new fund alliances with both American Funds and IDEX, bringing the total number of fund families accessed through the new Transamerica platforms to 18, and the total number of investment options available to 70.
Both programs come with Transamerica Retirement Services’ proprietary plan design consulting service, Transamerica Plan Maximizer, which implemented with the assistance of Transamerica’s ERISA consultants, allows any of Transamerica Retirement Services’ plans to be customized to meet specific company structure and financial goals.
Both programs also feature an enhanced enrollment program, including interactive kits and workshops that walk employees step-by-step from goal evaluation through enrollment. Other resources available via the platform include:
- Online Services via the Transamerica Retirement Services Web site ( www.ta-retirement.com ), which offers participants online enrollment and account management, as well as a number of planning tools and information on new legislation. Retirement Planning Assessments , which are an optional feature (at no added cost to sponsors or participants) that includes assessments that show current balance, determine how much participants will need to retire, analyze known sources of retirement income, and suggest possible strategies on how to reach their savings goals.
- AdviceSolutions , which is an optional online retirement planning tool that analyzes data from the participant’s retirement plan and other investments and savings information, employs a Monte Carlo simulation to forecast the future value of retirement assets, and prepares a customized asset allocation strategy. The option is available at no added cost to sponsors and participants (see Transamerica Unveils Online Advice Offering ).
- Transamerica Center for Retirement Studies , an online resource that monitors and analyzes employer and employee-related retirement issues in the small business retirement industry.