BALTIMORE, Sept. 8, 2016 /PRNewswire/ -- Transamerica has published "The Defined Benefit Plan Continuum," a white paper geared to help plan sponsors, retirement advisors and plan consultants evaluate their defined benefit plans and explore ways to mitigate costs and risks associated with sponsoring a plan.
"The Defined Benefit Plan Continuum" provides guidelines and direction to organizations, advisors and consultants in effectively evaluating options and choosing a course that lowers their defined benefit plan costs while mitigating risks that might potentially affect their company's bottom line.
"Employers are striving to provide meaningful employee benefits while maintaining strong financial performance," said Transamerica chief operations officer Blake Bostwick. "The 'Defined Benefit Plan Continuum' help sponsors and retirement professionals navigate the best course for their pension plan and better manage the plan's costs over time."
Transamerica emphasizes that high quality data management is a necessity for quality reporting, in addition to refined budgeting and forecasting.
"Quality reporting allows a plan sponsor to better review the plan's demographics and financials, and enables the actuaries to provide more precise forecasts for review," Bostwick explained. "A thorough plan review using high quality data can allow plan sponsors to better manage the plan, fine tune reporting and help refine budgeting."
"The Defined Benefit Plan Continuum" is available to financial professionals on Transamerica's New Age of Advice website at http://newageofadvice.com/insights/transamerica-insights/transamerica-insights-articles/lowering-costs-reducing-risks-defined-benefit-plans/ and to plan sponsors by calling Transamerica at 800-770-6797.
With a history that dates back more than 100 years, the Transamerica companies are recognized as leading providers of life insurance, savings, retirement and investment solutions, serving millions of customers throughout the United States. Transamerica works to Transform Tomorrow® for those who entrust its dedicated professionals with their financial needs, helping them take the necessary steps to achieve their long-term goals and aspirations. Transamerica's 10,000 employees serve nearly every customer segment, providing a broad range of quality life insurance and savings products, individual and group pension plans, as well as asset management services. In 2015, Transamerica fulfilled its promises to customers, paying more than $6.9 billion in insurance and annuity benefits, including return of annuity premiums paid by the customer. Transamerica's corporate headquarters is located in Baltimore, Maryland, with other major operations in Cedar Rapids, Iowa. Transamerica is part of the Aegon group of companies. Aegon is one of the world's largest providers of life insurance, pension solutions and asset management products, operating in more than 20 markets worldwide. For the full year of 2015, Aegon managed $768 billion in revenue generating investments. For more information, please visit www.transamerica.com.
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