DOES YOUR FIRM OFFER A POOLED RETIREMENT SOLUTION WITH CHOICES FOR YOUR CLIENTS?

TRANSAMERICA CHOICE POOLED SOLUTIONS

POWERED BY TAG RESOURCES AND TRANSAMERICA

WHAT IS IT?

Transamerica Choice Pooled Solutions revolutionizes retirement planning in the industry, providing a comprehensive two-in-one pooled solution. Whatever size business your firm’s clients have, Transamerica Choice Pooled Solutions offers plans tailored to uniquely meet their needs while offering competitive pricing that generally goes hand-in-hand with large-scale setups. Plus, our fiduciary outsourcing allows your clients to concentrate on their business growth and development without worrying about the day-to-day administration of their retirement plans.

 The flexibility to meet your needs

The Transamerica Choice Pooled Solutions product is unique because it consists of two plan configurations that you can use to tailor a plan for your client:  The 401(k) Retirement Plan Exchange® and the Choice Pooled Employer Plan℠ (PEP).

PICK THE BEST OPTION FOR YOUR CLIENT

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THE EXCHANGE SOLUTION®

The Retirement Plan Exchange allows individual sponsors to select from a menu of cost-effective options to build a single employer retirement plan and configure a support team.

THE EXCHANGE SOLUTION®

  • Individual plan sponsors choose from menu of cost-effective options to build retirement plan
  • Form 5500 filed individually per plan
  • Typically, best suited for smaller businesses and organizations

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THE CHOICE PEP℠

The Choice PEP treats the plans of multiple unrelated employers as one large plan and allows employers to choose from two cost-effective investment platform options.

THE CHOICE PEP℠

  • Treats multiple plans as one large plan
  • Sponsored by a Pooled Plan Provider (PPP)
  • PPP handles administration and oversight
  • Files one combined Form 5500 for the PEP
  • Large plans benefit from reduced audit costs• Your choice of 3(38) investment managers

Transamerica Choice Pooled Solutions takes on over 90% of your firm’s Administrative Responsibilities

YOUR CLIENTS RESPONSIBILITIES WITHOUT The Transamerica Choice Pooled Solutions

  • [3(38) Investment Manager Appointment]
  • 402(g) Limit Reporting
  • 404(a)(5) Notice Distribution
  • 404(c) Notice Distribution
  • 408(b)(2) Notice Distribution
  • Annual Discrimination &
    Coverage Testing
  • Annual Fee Negotiations
    With Vendors
  • Audit Completion Support
  • Audit Firm Hiring & Monitoring
  • Auto Enrollment Notice Distribution
  • Beneficiary Designation Form Maintenance
  • Beneficiary Determinations
  • Blackout Notice Distribution
  • Census Review
  • Corrective Distributions
  • Death Benefit Approval
  • Distribution Reporting
  • DOL and IRS Issue
    Resolution Assistance
  • Eligibility Calculations
  • Eligibility Notifications
  • Employer Contribution Monitoring
  • Plan Document Preparation
  • ERISA Bond Review
  • Error Correction Monitoring
  • Fiduciary Insurance
    Coverage Review
  • Force Out Processing
  • Form 5330 Preparation
  • Form 5500 Preparation,
    Signing, & Filing
  • Form 8955 Preparation,
    Signing, & Filing
  • Fund Change Notice Distribution
  • Hardship Withdrawal Approval
  • Loan Approval & Reporting
  • Loan Default Monitoring
  • Loan Policy Administration
  • Lost Earnings Calculations
  • Participant Enrollment Assistance
  • Payroll Aggregation
  • Payroll File Aggregation
  • Plan Design Review
  • Plan Document Preparation
    & Archiving
  • Plan Irregularity Notification
  • QDIA Notice Distribution
  • QDRO Determinations
    & Reporting
  • Quarterly Investment
    Review Meetings
  • Rate Change Monitoring
    & Reporting
  • Required Minimum Distributions
  • Safe Harbor Notice Distribution
  • SAR Production & Distribution
  • SMM Notice Distribution
  • SPD Production & Distribution
  • Spousal Consent Approvals
  • Termination Date Verification
    & Maintenance
  • Termination Withdrawal Approval
  • Trustee Duties
  • Review & Process Payroll Files
  • Vesting Verification & Tracking
  • Year End Data Collection
    & Review

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YOUR CLIENTS RESPONSIBILITIES WITH The Transamerica choice pooled solutions

An employer who sponsors a retirement plan for their employees has overriding fiduciary responsibility for the plan. This solution allows the employer to outsource that responsibility to the highest degree.

The bottom line:

Your Firm’s Clients can focus on their business rather than running a retirement plan

The Marketing advantage

Transamerica is dedicated to [Advisor firm names) ongoing success. 

As an advisor working with us, you will have access to our co-branded marketing materials to help [ADVISOR FIRM NAME] kick-start your new solution. You can use these materials to market to new and existing clients. To show you our commitment to [ADVISOR FIRM NAME] choosing us, we have prepared a sample pitch deck for you to preview. Our co-branding options also include video and print materials. 

Contact[Sales Representative] for more details.  

DEPARTMENT OF LABOR AUDITS CAN BE COSTLY FOR YOUR CLIENTS BUSINESS!

The IRS penalty for late filing of a 5500-series return is $25 per day, up to a maximum of $15,000. The DOL penalty for late filing can run up to $1,100 per day, with no maximum.

Transamerica Choice Pooled Solutions and TAG Resources, as named fiduciaries on your plan, will mitigate this risk for you.

The Advantages of Transamerica Choice Pooled Solutions

Compliant

Your clients don’t want fines or penalties. TAG Resources processes are developed to administer plans to be DOL and IRS compliant.

Well Known Providers

Your clients want to work with industry leaders. Transamerica Choice Pooled Solutions combines industry-leading professional service providers for “end-to-end” retirement plan oversight, including robust tools and resources for employees.

Make It Simple

Your clients don’t want to be 401(k)/403(b) experts. TAG Resources oversees plan set-up, implementation, monitoring, enrollment, and other duties.

Business Colleagues Watching Presentation

Fiduciary Protection

Your clients don’t want to be at risk. By shifting administrative and certain named fiduciary duties to TAG Resources, employers can mitigate the most defined legal obligations and responsibilities.

Cost Effective

Your clients don’t want to overpay. Transamerica Choice Pooled Solutions is built on a pooled pricing model and often costs less than other programs offering fewer comprehensive services.

A DEDICATED TEAM BEHIND The Transamerica Choice Pooled Solutions

MEET THE TEAM

DRIVING PARTICIPANT SUCCESS

Over Twenty Years

Of Experience

Business owners trust Transamerica to help provide the right retirement plan choices for their clients.  

Many comapnies are enthusiastically working with pooled plans, such as pooled employer plans (PEPs), for the first time. TAG Resources and Transamerica have been the innovators in pooled structures for over 20 years. TAG’s experience has helped them understand how to structure the plan to get the best savings and protection available to you.

TAG & Transamerica have a proven track record of working together to understand employers’ needs and effectively meet those needs.

Additionally, retirement plans carry significant fiduciary liability and government compliance exposure for employers. The Transamerica Pooled Solutions outsources most fiduciary responsibilities and compliance to TAG Resources to the greatest extent available. While most retirement plans do not offer this level of fiduciary and compliance assistance, TAG works as your retirement department by becoming a Signatory Named Fiduciary on your client’s retirement plan.

0

Years of pooled plan experience

As of December 31, 2022

0

Plan Sponsors

0

Adopting employers

At any time, employers are easily integrated, enrolled, and tracked in the Transamerica platform.

Participant

Experience

Driving Participant Success

The Transamerica participant experience is designed to help people understand if their savings and investment strategy is in line with their retirement goals. It starts with enrollment and continues with personalized communications and financial education showing participants how they can improve their retirement readiness.

An easy-to-understand forecast generated by the underlying methodology provided by Morningstar. Using simple weather icons, it shows participants if their current investment strategy is likely to produce the income they’re seeking in retirement and offers steps to improve their chances of achieving their goals. Your Retirement Outlook® is featured prominently on the participant website, mobile app, and quarterly statements.

Would you like to learn more about working with Transamerica?

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