Transamerica Retirement Solutions has joined with Merrill Lynch to create a workplace retirement program for not-for-profit organizations. It’s the first time Transamerica has offered a 403(b) retirement plan program with Merrill Lynch.

Not-for-profit organizations such as large higher education and healthcare institutions have a broad base of employees that frequently necessitates a range of retirement plans, as well as technology that can accommodate a variety of needs and solutions.

Transamerica’s previous experience in providing retirement solutions to the not-for-profit community allows Merrill Lynch to offer its own services in the program. Merrill Lynch is also making available Transamerica’s mutual fund retirement plan product on its Advisor Alliance platform. This offering will supplement the Transamerica Group Annuity product with Merrill Lynch.

All 401(k) and 403(b) plan sponsors and their employees will now be able to avail themselves of additional Transamerica plan administration services, in addition to a broad range of mutual funds that are offered through Merrill Lynch’s investment platform.

In addition, service options include the outsourcing of administrative tasks to Transamerica, as well as a custom target date solution that is built using the plan’s core investment lineup to assist participants in diversifying their investments.

Instant Insights /

Transamerica, Merrill launch nonprofit retirement solutions

More From HR Executive

Related Stories

Recommended For You