Transamerica Honored as a Top Retirement Plan Provider in Annual PLANSPONSOR[R] Defined Contribution Survey.
LOS ANGELES -- Transamerica Retirement Services was again honored by retirement plan sponsors for its ongoing commitment to excellent customer service, according to the results from the 2009 Defined Contribution (DC) Survey conducted by PLANSPONSOR([R]) Magazine. Transamerica has consistently performed well in the survey, averaging over 40 cups for the last three years.
Transamerica received 43 "Best in Class" cups for sponsor and participant services in PLANSPONSOR([R]) magazine's annual 2009 DC Survey of retirement plans. The 43 Best in Class designations--23 in the micro (<$5 million) and 20 in the small ($5 million to $50 million) markets--rank Transamerica among the top cup recipients of the 46 providers evaluated in the small- and micro-plan markets. The new DC survey also ranks Transamerica's overall service scores in the top quartile for both participant and sponsor services in both of the market segments that the company serves.
Ninety-eight percent of Transamerica's plan sponsor clients who responded indicated that they would recommend the firm to a colleague - the highest recommendation rate in the survey. Anonymous responses from clients include:
"The services provided by our representative and all of the Transamerica staff are of superior quality. I would recommend Transamerica to any company interested in quality service."
"Transamerica makes my job as administrator very easy. Their materials are clear and concise and the Web site is often updated to assist both me and my employees."
"Quick response time, a great online service and call center, along with good participant education opportunities help make Transamerica a great service provider."
"We have received basically flawless and timely execution of transactions, and a wide range of services available to the participants, including willingness to provide on-site trainings and enrollment events."
"Despite the tough economic environment, Transamerica continues to introduce leading solutions for our clients that are often only made available to larger plans by most providers," said Stig Nybo, president of Transamerica Retirement Services. "Our determined client management team works hard to ensure that our clients are extremely satisfied with the services offered by Transamerica. Our solutions are designed to help our sponsors improve the way they do business. The results of the annual PLANSPONSOR survey again validate these efforts."
BEST IN CLASS CUPS
Transamerica received 43 "Best in Class" cups, covering all 23 categories:
* Communications materials (micro- and small-plan markets)
* Education program (micro- and small-plan markets)
* Statement clarity (micro- and small-plan markets)
* Enrollment assistance (micro- and small-plan markets)
* Asset allocation focus (micro- and small-plan markets)
* Statement accuracy (micro- and small-plan markets)
* Reporting timeliness (micro- and small-plan markets)
* Turnaround time-loans (micro- and small-plan markets)
* Participant Internet services (micro- and small-plan markets)
* Call center (micro- and small-plan markets)
* Range of investments (micro- and small-plan markets)
* Retiree services (micro-plan market)
* Participant service fees (micro-plan market)
* Sponsor Internet services (micro- and small-plan markets)
* Form 5500 accuracy (micro- and small-plan markets)
* Reporting (micro- and small-plan markets)
* Compliance (micro- and small-plan markets)
* Fee fairness (micro-plan market)
* Fee disclosure (micro-plan market)
* Account representative knowledge (micro- and small-plan markets)
* Responsiveness (micro- and small-plan market)
* Regulation updates (micro- and small-plan markets)
* Staff consistency (micro- and small-plan markets)
About the November 2009 PLANSPONSOR[R] Magazine Survey
The results of the Defined Contribution (DC) Survey were announced in the November issue of PLANSPONSOR([R]) Magazine. The survey polled 5,635 clients of 48 defined contribution plan providers. "Best in Class" cups are awarded to plan providers that score in the top quartile of a specific category. Transamerica was awarded 23 cups in all 23 categories surveyed in the micro-plan market, and 20 cups in 20 categories in the small-plan market.
About Transamerica Retirement Services
Transamerica Retirement Services ("Transamerica"), a marketing unit of Transamerica Financial Life Insurance Company, 4 Manhattanville Road, Purchase, New York 10577, and other of its affiliates, designs customized retirement plan solutions to meet the unique needs of small- to mid-sized businesses. Transamerica Retirement has more than 15,0001 retirement plans totaling more than $13.21 billion in assets. For more information about Transamerica, please refer to www.TA-Retirement.com.
1 As of December 31, 2008.
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|Date:||Nov 24, 2009|
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