Higher education retirement plans
Brighter outcomes for faculty and staff
Helping a diverse faculty and staff prepare for a retirement worth looking forward to often requires a level of complexity few providers understand. We do. With more than 60 years of not-for-profit experience, Transamerica is a leading provider of 403(b) and other defined contribution and defined benefit plans for higher education institutions. We also provide guidance to help professors, administrators, and staff make the most of their retirement benefits.
What sets us apart?
When working with higher education plan sponsors, we provide solutions tailored to their goals. We can integrate different plan types, defined benefit, and nonqualified plans, alongside pooled plans to meet the complex needs of the higher education industry.
Simplified administration
With Total Retirement Outsourcing®, you can enjoy the advantages of working with a single recordkeeper, while participants can access and manage their retirement savings in one place.
Payroll integration made easy
Transamerica receives payroll data directly and electronically from the payroll provider, reducing the risk of human errors and resulting in more accurate, efficient recordkeeping.
Focus on education and engagement
Our OnTrack® communications program and retirement planning consultants can help faculty and staff make the most of their retirement plans.
Workplace wellness programs
We offer workplace wellness solutions like health savings accounts, flexible spending accounts, student loan assistance, and emergency savings accounts.
Tracking trends in higher education
Our proprietary research provides insights into college and university retirement plans, including plan designs, educational offerings, and investment options.
Case study: Improving retirement readiness
Ivy Tech Community College wanted to offer a better experience for the more than 3,600 faculty and staff participating in its 403(b) and 457(b) retirement plans. With multiple vendors and programs, Ivy Tech also hoped to reduce costs and offer investment flexibility for participants. By choosing Transamerica as its single provider, Ivy Tech improved efficiency and saved money, while continuing to educate faculty and staff about making the most of their retirement benefits.
Important information
Information regarding retirement plans is general and is not intended as legal or tax advice. Retirement plans are complex, and the federal and state laws or regulations on which they are based vary for each type of plan and are subject to change. In addition, some products, investment vehicles, and services may not be available or appropriate in all workplace retirement plans. Plan sponsors and plan administrators may wish to seek the advice of legal counsel or a tax professional to address their specific situations.