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TMCNet:  Transamerica Retirement Services Receives 39

[December 19, 2012]

Transamerica Retirement Services Receives 39 "Best in Class" Ratings in Chatham Partners' Post-Conversion Customer Satisfaction Survey

LOS ANGELES --(Business Wire)--

Transamerica (News - Alert) Retirement Services announced today that it received 39 "Best in Class" ratings from retirement plan sponsors in the Chatham Partners' third quarter post-conversion customer satisfaction survey. The survey measures the overall quality and management of Transamerica's plan installation and conversion process according to survey responses received from retirement plan sponsors.

Third quarter results show continued plan sponsor satisfaction with Transamerica's plan conversion process and customer service. All attributes related to overall impressions of Transamerica, the conversion process and customer service received "Best in Class" ratings.

"Transamerica continues to receive high praise from plan sponsors regarding their conversion experience," said Stig Nybo, president of pension sales and distribution for Transamerica Retirement Solutions. "Our consistent 'Best in Class' ratings each quarter are a direct result of our outstanding project managers who continually provide the highest levels of service to our newest clients. At Transamerica, we strive to provide 'Best in Class' service at every step of the retirement plan process, from design and installation to daily interactions."

Transamerica received "Best in Class" ratings from retirement plan sponsors in the following areas:




Overall Impressions of Transamerica

  • Is easy to do business with
  • Treats me as an important client
  • Provides high quality service
  • Has an excellent reputation as a retirement services provider
  • Would recommend to others
  • Is committed to technology
  • Is flexible in meeting my unique needs
  • Offers innovative solutions
  • Fee structures are competitive
  • Provides good value for the money

Overall Impressions of the Conversion

  • Transamerica set clear expectations of timing
  • The project manager was responsive
  • Transamerica provided high quality support
  • Transamerica is committed to efficiency
  • The information flow from the Project Manager met my needs

Conversion Project Manager

  • Overall satisfaction
  • Product knowledge
  • Frequency of contact
  • Proactive approach
  • Problem resolution skills
  • Plan knowledge
 

Management of the Conversion

  • Overall satisfaction
  • Explanation of the implementation process
  • Accessibility and relevance of information
  • Timeliness of investing funds
  • Frequency and quality of status updates
  • Accuracy of investing funds
  • Accuracy of record set-up
  • Effectiveness of the project plan/timeline
  • Accuracy of vesting
  • Explanation of roles and responsibilities
  • Timeliness of record set-up

Plan Sponsor Services

  • Overall satisfaction
  • Satisfaction with initial plan document
  • Training on the plan sponsor website

Participant Services

  • Service provided by participant contact center
  • Communication with participants

Overall Satisfaction with Transamerica

 

Overall Satisfaction with Conversion Experience

 

About Transamerica Retirement Services

"Transamerica" or "Transamerica Retirement Services" refers to Transamerica Retirement Solutions Corporation. Transamerica designs customized retirement plan solutions to meet the unique needs of small- to mid-sized businesses. Transamerica and its affiliates service more than 17,0001 retirement plans totaling more than $20 billion1 in assets. For more information about Transamerica, please refer to www.TA-Retirement.com.

About Chatham Partners Third Quarter Post-Conversion Customer Satisfaction Analysis

Chatham's independent third-party research helps isolate Transamerica's key strengths, weaknesses, and gaps in the installation process. By identifying the most important drivers of client satisfaction, Transamerica uses these findings to help provide a quality installation process.

Questions were rated on a seven-point scale with "six" and "seven" representing the highest levels of satisfaction. A "Best in Class" rating was received when 85 percent of the respondents selected a "six" or "seven" for 44 specific areas that were rated. The Chatham Partners' post-conversion survey is based on 160 client responses in Chatham Partners' most recent third quarter report. Transamerica Retirement Services is not affiliated with Chatham Partners, LLC.

1As of December 31, 2011.

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