Transamerica Introduces Retirement Income Unit

Transamerica Life Insurance Company has unveiled a new business, Transamerica Retirement Management, Inc., to address workers’ needs to have money during retirement and related financial planning issues.

Marketed as The SecurePath by Transamerica, the service provides employees on the verge of retirement with the guidance, tools and resources to help turn accumulated retirement assets into a lifetime income stream, according to a news release.

The company said that as part of the service, clients receive access to a team of Transition Consultants – Investment Advisor Representatives with InterSecurities, Inc., a registered investment adviser.

Transition Consultants offer educational tools, guidance, advice, strategies and products to help guide pre-retirees in managing their retirement savings without the use of pre-set investments or retirement planning services, according to the announcement.

“Baby boomers are quickly realizing that retirement planning doesn’t stop once you reach age 65 – in many ways, it begins again, yet in another form. While they have spent years building up retirement savings, they suddenly find they are unsure about how to utilize the resulting assets to fund their new, active lifestyle,” said Phil Eckman, chief executive officer of Transamerica Retirement Management, Inc., in the release. “Our new division, along with our Transition Consultants, will help corporate plan sponsors guide boomers through the biggest challenge in retiring – ensuring assets last throughout retirement.”

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