Omaha, Neb. – (October 11, 2011) Mutual of Omaha recognizes that no two businesses are alike, that's why the Retirement Plans Division has enhanced its flexible Third Party Administrator (TPA) retirement product platform to meet the diverse needs of TPAs. In essence, the TPAs Mutual of Omaha works with have the opportunity to customize plan recordkeeping and administration their way.
The program helps further integrate Mutual of Omaha's retirement plans product within a TPA's respective business to give their plans access to diversified investment options, personalized customer service and a three-tiered approach to fiduciary support. The services and processes are set up on a plan level basis according to the specifications of the TPA along with the help from the dedicated Mutual of Omaha support teams accessible for assistance every step of the way.
"We've seen an increasing trend in the use of TPAs for plan design and administration, specifically in the smaller to mid-size market space that we target," said Tim Bormann, 401(k) product-line director for Mutual of Omaha. "Because we continually strive to provide valuable solutions to help TPAs deepen relationships with their plan sponsors and advisors, it is important that our retirement plans product remains flexible, simple and adaptable to our TPA partners and their customers' needs."
"We also respect the relationship TPAs have with their plan sponsors and advisors, and serve as an active partner in helping them build their business," Bormann added.