Transamerica Releases Findings From National Listening Tour With Third Party Administrators

Head of TPA Channel Distribution Reveals Top Five Marketplace Issues Facing Retirement Plan TPAs

LOS ANGELES--(BUSINESS WIRE)--Transamerica Retirement Services today announced the results of a national listening tour with third party administrators (TPAs). Transamerica talked with TPA partners and TPA business owners to learn about the most pressing business issues they’re facing and to seek input on how Transamerica can best serve their needs.

“Over the past two years, we have renewed our commitment to the TPA business model, and we have more than tripled our business with TPAs across the country”

“Transamerica values the significant contribution our TPA relationships make to our business,” said Deb Rubin, vice president and head of TPA channel distribution for Transamerica. “To ensure we are providing for their unique business needs, we went on a listening tour across the country to find out directly from TPAs how to most effectively help drive efficiencies, increase client satisfaction and build their retirement plan business.”

As a result of TPAs’ feedback, Transamerica identified the top five TPA marketplace issues:

1. TPAs are depending on creative marketing strategies to help grow their businesses
   Economic pressures are causing TPAs to focus on marketing more than ever, and many are looking for ways to implement and maximize new marketing strategies as a means for future growth, such as joint marketing campaigns with plan providers that are committed to the TPA business model.
2. Hiring, education and training support is an ongoing need for TPAs and their employees
   In an industry facing new regulatory and legislative concerns, TPA business owners have expressed the need for current and ongoing educational opportunities for their employees.
3. As the April 1, 2012, deadline approaches for the new 408(b)(2) fee disclosure rules, plan sponsors are likely to look to TPAs to help with more fee education
   Sponsors will likely use TPAs as a resource for information on value for cost. TPAs and plan providers need to work together to help ensure that plan sponsors understand new fee disclosures.
4. Technology platforms offered by plan providers are critical to TPA efficiencies
   TPAs want a flexible business model from retirement plan providers that gives the TPA technology to ease plan administration, and choice in how to use the technology platform with their clients.
5. Integration with payroll vendors gives TPAs a competitive edge
   Simplicity in benefits management is key to plan sponsors, and integration with payroll companies gives TPAs expanded opportunities to provide streamlined service.

“Over the past two years, we have renewed our commitment to the TPA business model, and we have more than tripled our business with TPAs across the country,” said Rubin. “As our expertise with the TPA community has deepened, we’ve created new value-added services to give TPAs a competitive advantage in this market. TPAs are welcome to contact me for more information on Transamerica’s resources that address the top business issues they are facing.”

Transamerica offers TPAs flexibility on services, including qualified sales and marketing support, training, technology, payroll interface, and service fee income. For more information, TPAs can email: [e-mail].

About Transamerica Retirement Services Corporation

Transamerica Retirement Services Corporation (“Transamerica” or “Transamerica Retirement Services”), which is headquartered in Los Angeles, CA, designs customized retirement plan solutions to meet the unique needs of small- to mid-sized businesses. Transamerica and its affiliates have more than 15,500¹ retirement plans totaling more than $19.5 billion¹ in assets. For more information about Transamerica, please refer to www.TA-Retirement.com.

¹As of December 31, 2010.

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