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Transamerica Report: Retirement Plan Exchange Reduces Burden of Fiduciary Responsibilities

A new white paper prepared by The Wagner Law Group on behalf of Transamerica Retirement Solutions concludes that the firm’s Retirement Plan Exchange significantly reduces the burden of an employer’s fiduciary responsibilities compared to traditional retirement plans. The Retirement Plan Exchange allows employers to delegate retirement plan management to an administrative fiduciary rather than taking on this responsibility themselves, saving time and reducing costs. Furthermore, it helps plan participants prepare for retirement by auto-enrolling eligible workers at a 6% contribution rate with a 2% auto increase in each of the next two years, giving the opportunity for a minimum annual savings rate of 10%.

For more on Transamerica’s value-adds for advisors, visit their NAPA Firm Partner page.

John Adams is a writer for NAPA Net.

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