Transamerica Introduces 2 New Pooled Plans

Transamerica has debuted two new pooled plan solutions, each targeting slightly different plan sponsor needs.

The firm announced its DWC 401(k) Pooled Plan Solutions on Tuesday, a partnership with third-party administrator DWC and advisory Leavitt Retirement Partners, the 3(38) investment manager on the plans.

One of the pooled plans, the DWC 401(k) Retirement Plan Exchange, is a collection of single-employer-sponsored plans that share a common plan administrator, fiduciary, investment menu and plan year. The exchange gives plan sponsors “more control over their plan while benefiting from shared services and pricing,” says Darren Zino, Transamerica’s head of retirement distribution.

The other offering, the DWC 401(k) Pooled Employer Plan, offers full administrative and fiduciary services more in line with a traditional PEP, including an annual audit feature for 401(k) plans with at least 100 participants that will reduce administrative burden and reduce cost.

Zino says Transamerica is offering both options on the same recordkeeping platform to give plan sponsors more flexibility and the ability to switch, should their focus areas or plan size change.

“Employers can … switch between the exchange and the PEP as their needs evolve, without disrupting their employees’ experience,” he says. “For instance, as a company grows to a level that requires an annual audit, they might find the PEP’s single audit feature more cost-effective. Or a smaller firm initially drawn to the exchange’s flexibility might later prefer the centralized management of the PEP.” 

Transamerica is active in PEPs, group of plans and multiple employer plans. In June, it launched a new PEP with SageView Advisory Group, which is acting as the PEP’s 3(38). In April 2023, it partnered with Smart Retirement Solutions Inc. on a PEP offering.

Leavitt Retirement Partners is an independent advisory providing investment advisory services through Global Retirement Partners LLC.