Transamerica, Aegon Partner on Turnkey DB Solution

It aims to bring all aspects of managing a defined benefit plan together.

Transamerica, in partnership with Aegon Asset Management, has launched Transamerica DB Complete. The solution for defined benefit (DB) plans brings together all the services typically outsourced to third-party vendors, including plan administration, asset management, consulting services and actuarial support.

“Most organizations are not in the business or managing the associated complexities with a defined benefit plan,” says Kent Callahan, chief executive officer of workplace solutions at Transamerica. “They’re looking for an experienced team to help them. That’s why Transamerica and Aegon Asset Management collaborated to create a powerful solution that helps ease the burden for plan sponsors.”

Transamerica advisers can assume the responsibilities of a 3(21) or 3(28) fiduciary adviser, as delegated by the client and its investment adviser, or work with the client to select investment products. Transamerica stresses that the process streamlines the complexities of DB plan administration.