Products August 20, 2010

Transamerica “Unlocks” Social Security

A new education program from Transamerica gives advisers non-product specific guidance to help them educate their clients about Social Security, according to a recent announcement. 
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The program, “Unlocking Social Security,” was designed to meet the needs of the 78 million Baby Boomers who are expected to retire over the next 20 years and their advisers. According to a recent statement, the guide provides information on Social Security, helping advisers start conversations with their clients about maximizing benefits and calculating lifetime income.  

The “Unlocking Social Security” program contains materials for individual adviser-participant meetings as well as seminars, including: 

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  • Conversation Cards:
 Break down complex topics into key talking points, divided into categories according to a client’s age; 
  • Presentation: Addresses common questions and encourages further discussion;
  • Client Guide:
 Offers clients sample questions to ask their advisers during meetings to help them better understand their benefit options. 

Financial professionals may click here for more information. 

Data & Research August 20, 2010

Retirement Plan Participants Want More Help

A new study finds that 60% of retirement plan participants want more personalized and effective communications, especially using current technologies such as Web sites, proactive e-mails, mobile, or on-demand videos.

Reported by

According to the 2nd annual DC Participant Experience Study Mathew Greenwald & Associates and KK & Company, participants want help and providers’ and sponsors’ efforts will work best if they make it as easy as possible for participants. More than half said they have used a calculator or worksheet at least once, but 44% want to spend less than half an hour on any calculation or plan.  

“Similar to last year’s findings, less than half of the participants are satisfied with the support they receive from their plan sponsor regarding their retirement plan,” said Kendall Kay, President, KK & Company, in a press release.  

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The survey also found almost 80% of participants are interested in proactive analysis and messaging that recommends how they could improve their retirement plan savings; over a third are interested in an investment option that would produce monthly income for life; and the majority of employee’s want specific retirement planning assistance.  

Information was gathered through a 17-minute interview with a total of over 1,002 participants in July 2010, and 1,049 participants in August 2009.  

For more information, go to http://www.greenwaldresearch.com.

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