Transamerica Delivers Strong Results in Retirement Plan Customer Satisfaction
Transamerica delivered superior results in customer experience in a recent, independent survey of large-market retirement plan sponsors. Transamerica exceeded the industry benchmark in overall customer experience categories and for each key performance indicator including plan sponsor services, participant services, price and value, and brand impressions.
“Transamerica is committed to helping people save and invest wisely to secure their retirement objectives, and that message resonates with plan sponsors. The analysis indicates clients are pleased with Transamerica’s ability to provide technology and best practices in employee engagement that drive better retirement outcomes,” said Peter Starr, President of Chatham Partners. “In our analyses, Transamerica continues to be a leader and demonstrates an ability to partner effectively with plan sponsors to deliver a quality retirement plan through superior customer service.”
Chatham’s Retirement Industry Customer Experience Score measures the effectiveness that retirement plan sponsors have with their providers. The process allows Transamerica to see in greater detail how top-line results are achieved, including satisfaction, loyalty and promotability. The scores are calculated by measuring four key experiences that clients have with Transamerica.
“Transamerica continually seeks client feedback that helps us drive critical product and service enhancements, including Chatham Partners’ annual client satisfaction analysis,” said Phil Eckman, President of Workplace Solutions for Transamerica. “We listen to customers so we can deliver innovative industry-leading solutions for both retirement plan sponsors and their participants. We recognize that our employees are crucial to customer satisfaction, and we strive each day to exceed customer expectations.”
Chatham’s proprietary benchmarks compare and rank Transamerica’s performance to retirement plan providers in similar markets.
About Chatham Partners’ 2021 Client Satisfaction Analysis
Chatham’s independent third-party research surveys large-market retirement plan sponsors to track Transamerica’s delivery of client services, and benchmark Transamerica’s standing relative to other large-market defined contribution providers. By identifying the most important drivers of client satisfaction, Transamerica uses these findings to help provide the best possible retirement planning solutions for its clients.
Transamerica exceeded the industry benchmark for all strategic performance indicators for customer experience with defined contribution plans, including plan sponsor services, participant services, price/value, and brand impressions. Chatham Partners, LLC is an independent third-party research firm. Chatham Partners 2021 Client Satisfaction Analysis is based on 269 large-market client responses.
About Transamerica Retirement Solutions, LLC
Transamerica Retirement Solutions, LLC (Transamerica) is a leading provider of customized retirement plan solutions for mega-, large-, and mid-market organizations. Transamerica Retirement Solutions works with financial advisors, consultants, and third party administrators to cover the entire spectrum of defined benefit and defined contribution plans, including: 401(k) and 403(b) (Traditional and Roth); 457; profit sharing; money purchase; cash balance; Taft-Hartley; multiple employer plans; nonqualified deferred compensation; and rollover and RothIRAs. For more information, visit www.transamerica.com.