UBS to offer Transamerica program for small-business retirement plans
The Retirement Plan Exchange, which uses TAG Resources, is designed to reduce administrative headaches related to providing a plan.
UBS advisers using the firm’s retirement plan manager advisory program now will be able to tap a Transamerica service that’s designed to reduce the administrative burdens for small businesses that offer retirement plans.
Called Retirement Plan Exchange, the service uses TAG Resources, a Knoxville, Tennessee-based firm specializing in pooled structures, to serve as a plan’s 402(a) and 3(16) fiduciary and manage the day-to-day administrative duties
The UBS retirement plan manager advisory program offers discretionary investment management, with UBS acting as an investment manager under ERISA Section 3(38).
Transamerica said that Retirement Plan Exchange is not a multiple employer plan. Unlike a MEP, certain plan qualification and ERISA requirements are applied at the individual plan level.
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