Transamerica Retirement Services is launching The Plan Advisor Series I, a retirement product that has mutual funds as its core. The firm intends for there to be a great deal of fund diversity and low transaction fees.

Transamerica has had annuity-based retirement products for a number of years. The new platform will allow plan sponsors to choose up to 17 investment options from 67 funds. "We've provided group annuity-based retirement products for more than six decades, and our flagship product, The Plan, has been a hit with plan sponsors and participants for several years," opined Kent Callahan, Transamerica Retirement Services senior vice president. "Now, for those who prefer the familiarity of mutual funds in building their retirement plan, we are offering this new, cost-effective, hassle-free product."

The offering also includes: 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 online features are available in both English and Spanish. 

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