Transamerica acquires TAG Resources
Adding the retirement services company will help Transamerica expand its pooled retirement plan offerings.
Transamerica has acquired TAG Resources, a Knoxville, Tennessee-based retirement services company, to bolster its offerings of pooled employer retirement plans.
“The addition of TAG’s technology and service model will enable Transamerica to further expand its pooled retirement plan offerings to third-party administrators (TPAs), financial advisers, broker-dealers, and defined contribution investment only (DCIO) exchange partners,” the company said in a release.
[More: 401(k) balances break record in Q4: Fidelity]
Terms of the acquisition were not disclosed.
Since the SECURE Act gave the go-ahead for pooled employer plans, dozens of providers have registered with the Department of Labor to provide PEPs.
[More: Wave of PEPs hits the market]
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