SageView teams up with Transamerica on pooled retirement plan solutions

Photographer: Ron Antonelli/Bloomberg

The independent RIA is helping more employers offer retirement benefits with cost-effective 401(k) and PEP plan options.

SageView is partnering with Transamerica to help close the retirement coverage gap in the workplace.

The independent RIA announced Tuesday that it has partnered with Transamerica to offer Integrity Pooled Solutions, offered through both a 401(k) Retirement Plan Exchange and a Choice Pooled Employer Plan (PEP) option.

The collaboration between SageView Advisory Group and the national insurance and investment giant aims to provide cost-effective retirement solutions tailored to the unique needs of plan sponsors.

“SageView is excited to expand our solutions for employers who may not have the expertise or time in-house to oversee a retirement program and still want a retirement plan that doesn’t compromise service or quality,” Jon Upham, president and head of institutional retirement at SageView, said in a statement.

In this collaboration, SageView will act as the 3(38) investment manager and financial advisor for the plans involved, while Transamerica Retirement Solutions will serve as the recordkeeper.

Transamerica Fiduciary Services will be the pooled plan provider, and TAG Resources will handle over 90 percent of administrative tasks as the 3(16) plan administrator, alleviating the administrative burdens for participating plan sponsors.

The 401(k) Retirement Plan Exchange is particularly suited for companies with fewer than 100 employees, helping small employers who want to support their workers with a streamlined and cost-effective retirement plan option.

The Choice PEP is geared toward organizations of any size, aiming to deliver simplified and efficient retirement planning services through the combined efforts of SageView, Transamerica, and TAG Resources.

Participants in either the Exchange or the PEP will also have access to SageView’s financial education and engagement platform, PersonalSAGE, which provides personalized financial guidance and educational resources for employees.

“Joining forces with SageView demonstrates our joint commitment to expanding access to retirement plans,” said Darren Zino, Transamerica’s senior managing director for retirement.

“Our objective is to ensure every American worker has the opportunity live their best life and retire with dignity and retirement security,” Zino said. “This new offering is a significant step towards achieving that goal.”