December 8, 2023


Future Depends on What You Do

Transamerica and Cetera Financial Team Debut New Team Retirement Plan Answer

BALTIMORE, March 8, 2023 /PRNewswire/ — Transamerica announced today the availability of a new pooled plan answer in partnership with Cetera Money Group. Under the arrangement, Transamerica will provide as the plan’s recordkeeper. Cetera Retirement Prepare Professionals, a Cetera-owned third occasion administrator, will serve as the plan’s 402(a) and 3(16) fiduciaries, and will also take care of the plan’s working day-to-day administrative duties. The Cetera Benefit(k) GPS is readily available only via Cetera-affiliated advisors.

“We have found an increase in businesses giving place of work retirement plans, expanding coverage for hundreds of thousands of People in america,” claims Adeline Wong, Head of Retirement System Technique and Methods at Cetera Economical Group. “Nevertheless, for some little business enterprise house owners, the administrative hurdles to set up and sustain a 401(k) prepare, and the investment abilities demanded to find and preserve an appropriate, higher-good quality expense menu, have been a obstacle. Our new remedy, in collaboration with Transamerica, aims to cut down the administrative duties and legal responsibility for the business enterprise house owners so they can emphasis on what matters most – jogging their company.”

The Cetera Benefit(k) GPS is generally geared toward smaller and mid-sized firms, making it possible for businesses to lessen their administrative stress, mitigate particular fiduciary hazards, and profit from price tag efficiencies. In addition, their staff members love the positive aspects of a place of work retirement prepare and the tax-deferred pros of a common 401(k) approach.

Transamerica is a pioneer in pooled program arrangements with a lot more than 20 yrs of experience in the pooled prepare marketplace and is a winner for the lead to of aiding far more Us residents attain entry to a place of work retirement plan.

“Transamerica is very pleased to partner with Cetera Economical Team, a retirement industry leader in supporting approach sponsors and empowering advisors to serve their consumers with excellence,” mentioned Phil Eckman, President of Workplace Options at Transamerica. “Jointly with Cetera, we share a vision of creating it doable for a lot more providers to provide retirement plans to their workforce. With the Cetera Benefit(k) GPS, we are demonstrating our shared commitment to finding progressive solutions that satisfy the demands of Cetera’s organization operator purchasers and their staff members.”

To understand a lot more about the Cetera Gain(k) GPS, speak to your community Cetera affiliated Economic Advisor.

About Transamerica

With a heritage that dates back again much more than 100 years, Transamerica is a leading supplier of existence insurance policies, retirement, and expenditure methods, serving thousands and thousands of buyers through the United States. Transamerica’s committed specialists target on aiding people are living very well today and empowering them to make a far better tomorrow through conserving, investing, and defending their liked ones. Transamerica serves practically every buyer phase, offering a broad variety of high quality unique lifestyle insurance guidelines, office supplemental insurance plan gains, workplace retirement options, particular person retirement accounts and expense merchandise including mutual resources, annuities, stable price answers, as properly as asset management solutions. 

In 2021, Transamerica fulfilled its guarantees to customers, paying much more than $52 billion in insurance policy, retirement, and annuity promises and gains, which includes return of annuity premiums paid out by the buyer. Transamerica’s head office environment is in Baltimore, Maryland, with other big functions in Cedar Rapids, Iowa, and Denver, Colorado. Transamerica is part of the Aegon team of providers. Just about every enterprise of the Aegon group of corporations is entirely dependable for its possess fiscal disorders and contractual obligations. Centered in the Netherlands, Aegon is a diversified, intercontinental economical companies team giving expenditure, protection, and retirement answers. For the whole calendar year of 2021, Aegon managed around $1.1 trillion in income making investments. For additional information, check out

The Group Approach Options (GPS) is not a many employer program (MEP) or a pooled employer prepare (PEP). In contrast to a MEP or PEP, particular system qualification and ERISA necessities are used at the person approach stage. An employer collaborating in the GPS retains particular fiduciary responsibilities, together with duty for retaining and monitoring the 3(16) approach administrator, for determining the reasonableness of its expenses, and for periodically reviewing the prepare as a full. Transamerica does not act as a 3(16) fiduciary.

Just before adopting any program, sponsors need to cautiously contemplate all of the advantages, pitfalls, and expenses connected with a program. Information about retirement ideas is basic and is not intended as legal or tax tips. Retirement ideas are intricate, and the federal and point out rules or polices on which they are based change for every style of prepare and are matter to change. In addition, some merchandise, expenditure vehicles, and providers may not be offered or acceptable in all workplace retirement designs. Program sponsors and system directors may well wish to find the information of lawful counsel or a tax skilled to tackle their particular situations.

About Cetera Economic Team®

An at-scale wealth hub, Cetera Economic Team (Cetera) delivers financial experts and institutions the most recent methods, help, and expert services. Breaking away from a commoditized and homogenous IBD design, Cetera as a substitute creatively addresses advisors’ and institutions’ unique demands, whether they are seeking to expand, scale, or changeover with a merger, sale, expense, or succession system. Cetera proudly serves impartial economical advisors, tax gurus, licensed administrators, large enterprises, as properly as establishments, these kinds of as banks and credit rating unions. Cetera has an founded record of serving huge enterprises and fiscal institutions, providing an established and repeatable blueprint for scalable development.

Cetera’s tactic empowers advisors to affiliate in whichever way they deem most suitable. Through the skilled lifestyle cycle of their follow, the Cetera wealth hub proactively turns – ensuring every advisor’s affiliation design identifies and ignites expansion levers, in a way that maximizes the price of their apply, folks, and legacy. Cetera delivers unbiased and impartial fiscal tips, custom made choices, growth and succession sources, an improved advisor tech stack and importantly, an experience where by economical experts never really feel like a selection, but an integral part of Cetera’s abundant and flourishing ecosystem.

Residence to a lot more than 8,000 money industry experts and their teams, Cetera oversees somewhere around $322 billion in property below administration and $115 billion in belongings below management, as of December 31, 2022. In a new advisor fulfillment study of a lot more than 14,000 assessments, Cetera’s Voice of Shopper (VoC) program vigorously actions advisor practical experience and pleasure 24/7. Presently, it’s ranked 4.7 out of 5 stars.

Pay a visit to, and observe Cetera on LinkedInYouTubeTwitter and Facebook.

“Cetera Economic Team” refers to the network of unbiased retail corporations encompassing, among other folks, Cetera Advisors LLC, Cetera Advisor Networks LLC, Cetera Investment Companies LLC (marketed as Cetera Money Institutions or Cetera Buyers), and Cetera Monetary Specialists LLC. All companies are FINRA/SIPC members. Found at: 655 W. Broadway, 11th Floor, San Diego, CA 92101.

Persons affiliated with Cetera corporations are either Registered Reps who present only brokerage services and receive transaction-based mostly payment (commissions), Expenditure Adviser Associates who present only investment advisory expert services and acquire fees centered on property, or the two Registered Reps and Expenditure Adviser Reps, who can supply both equally kinds of products and services.

Media inquiries:

[email protected]

Hank Williams
(319) 355-7789

Julie Quinlan
(303) 383-5923

Resource Transamerica