Press Release

Transamerica Launches New Retirement Plan Exchange featuring UBS Retirement Plan Manager

Issued by Transamerica

Aug. 23, 2021

Transamerica announced today that the company launched a new Retirement Plan Exchange® featuring the UBS Retirement Plan Manager program. The Exchange is available solely through UBS Financial Advisors. UBS Retirement Plan Manager (RPM) is an advisory program that offers discretionary investment management, with UBS acting as an investment manager under ERISA Section 3(38). In addition, TAG Resources will serve as the plan’s 402(a) and 3(16) fiduciary and manage the plan’s day-to-day administrative duties.

“UBS is excited to introduce business owners to a powerful workplace retirement plan solution that offers similar services and economies of scale that are typically only enjoyed by large corporations,” said Gene Silverman, Executive Director, Head of Retirement Plan Services at UBS. “The services included in the Exchange enable employers to retain expert plan service providers to assist them in carrying out their fiduciary responsibilities and allow them to spend more time running their business.

For employees, the timing couldn’t be better as they are likely eager to save through a workplace retirement plan coming out of one of the most challenging economic times of their lives.” The Exchange is primarily geared for small and mid-sized businesses, and it allows employers to reduce their administrative burden, mitigate certain risks, and benefit from economies of scale. Their employees enjoy the benefits of a workplace retirement plan and the tax-deferred advantages of a typical 401(k) plan.

“Transamerica is thrilled to partner with UBS on our Retirement Plan Exchange. UBS is known for its investment expertise. Transamerica is a pioneer for pooled retirement plans with 20 years of experience. Together with TAG Resources, we share a common vision of making it possible for more companies to offer retirement plans to their employees,” said Kent Callahan, CEO of Workplace Solutions for Transamerica. “By offering this Retirement Plan Exchange, we are demonstrating our shared commitment to finding innovative solutions that meet the needs of UBS’s business owner clients and their employees.” 

Please contact your local UBS Financial Advisor to learn more about the Transamerica Retirement Plan Exchange featuring UBS Retirement Plan Manager. 

About UBS

UBS provides financial advice and solutions to wealthy, institutional and corporate clients worldwide, as well as private clients in Switzerland. UBS is the largest truly global wealth manager, and a leading personal and corporate bank in Switzerland, with a large-scale and diversified global asset manager and a focused investment bank. The bank focuses on businesses that have a strong competitive position in their targeted markets, are capital efficient, and have an attractive long-term structural growth or profitability outlook.

About TAG Resources, LLC

TAG Resources, LLC, headquartered in Knoxville, Tennessee, is the industry leader in pooled retirement structures. TAG has a culture of innovation that is unique in the retirement industry, and it is TAG’s model that is the basis of the pooled structures under the SECURE Act of 2019. TAG’s success at providing products that are easy to administer, mitigate risk and control costs have made them one of the largest fiduciary outsourcing firms in the United States today.

About Transamerica

With a history that dates back more than 100 years, Transamerica is recognized as a leading provider of life insurance, retirement, and investment solutions, serving millions of customers throughout the United States. Recognizing the necessity of health and wellness during peak working life, Transamerica’s dedicated professionals work to help people take the steps necessary to live better today so they can worry less about tomorrow. Transamerica serves nearly every customer segment, providing a broad range of quality life insurance and investment products, individual and group pension plans, as well as asset management services. In 2020, Transamerica fulfilled its promises to customers, paying more than $49 billion in insurance, retirement, and annuity claims and benefits, including return of annuity premiums paid by the customer. Transamerica’s corporate headquarters is located in Baltimore, Maryland, with other major operations in Cedar Rapids, Iowa and Denver, Colorado. Transamerica is part of the Aegon group of companies. Based in the Netherlands, Aegon is one of the world’s largest providers of life insurance, pension solutions and asset management products, operating in more than 20 markets worldwide. For the full year of 2020, Aegon managed over $1.1 trillion in revenue generating investments. For more information, please visit www.transamerica.com. 

Retirement Plan Exchange® is a registered service mark of Transamerica. The Exchange is not a multiple employer plan (MEP). Unlike a MEP, certain plan qualification and ERISA requirements are applied at the individual plan level. An employer participating in an Exchange retains certain fiduciary responsibilities, including responsibility for retaining and monitoring the 3(16) plan administrator, for determining the reasonableness of its fees, and for periodically reviewing the Exchange as a whole.

Before adopting any plan, sponsors should carefully consider all of the benefits, risks, and costs associated with a plan. Information regarding retirement plans is general and is not intended as legal or tax advice. Retirement plans are complex, and the federal and state laws or regulations on which they are based vary for each type of plan and are subject to change. In addition, some products, investment vehicles, and services may not be available or appropriate in all workplace retirement plans. Plan sponsors and plan administrators may wish to seek the advice of legal counsel or a tax professional to address their specific situations.

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