TPAs working with the Mutual of Omaha will be able to customize plan recordkeeping and administration processes.
The program helps integrate Mutual of Omaha’s retirement plans product within a TPA’s respective business to give their plans access to diversified investment options, personalized customer service, and a three-tiered approach to fiduciary support, the company announced. The services and processes are set up on a plan level basis according to the specifications of the TPA, along with assistance from Mutual of Omaha support staff.
“We’ve seen an increasing trend in the use of TPAs for plan design and administration, specifically in the smaller to mid-size market space that we target,” said Tim Bormann, 401(k) product-line director for Mutual of Omaha. “It is important that our retirement plans product remains flexible, simple, and adaptable to our TPA partners and their customers’ needs.”