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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