RBC Wealth Management Teams with Transamerica and FuturePlan by Ascensus to Expand Retirement Plan Access with Innovative New Pooled Plan Solution
FuturePlan is part of an exciting partnership with RBC Wealth Management (RBC) and Transamerica as RBC introduces an innovative pooled plan retirement solution for U.S. business owners called RBC Group Retirement Plan (GRP).
Many small and mid-sized business owners recognize the value of an employer-sponsored retirement plan as part of a competitive benefits package; however, the regulatory, financial, and administrative challenges associated with offering a retirement plan often deter sponsorship. RBC’s GRP helps alleviate those burdens and makes it easier for small and mid-sized employers to compete with larger employers in attracting and retaining talent.
Participating employers will enjoy access to a combined team of industry-leading plan professionals not otherwise available outside of this unique pooled arrangement. The RBC GRP also includes the FuturePlan Fiduciary Assistant® program, a proprietary 100-point payroll data integrity check designed to prevent most common plan errors flagged in U.S. Department of Labor (DOL) and IRS audits. Fiduciary Assistant works in conjunction with Transamerica’s PayStart® approved payroll vendors.
“We are proud to partner with RBC and Transamerica to help more Americans build financial security through high quality, well-managed retirement plans,” said Kasey Price, President of FuturePlan. “Investing in innovative solutions, such as RBC GRP, furthers our long-term commitment to broadening workplace retirement plan access with cost-efficient options designed to reduce both fiduciary risk and administrative burdens for employers of all sizes across all sectors of the economy."
Read more in the press release from RBC.