LOS ANGELES--(BUSINESS WIRE)--

Transamerica Retirement Services today released a new white paper titled, Creating an Education Policy Statement, that showcases the education policy statement as an important element of retirement plan fiduciary management. The Education Policy Statement is a natural extension of the Investment Policy Statement and, while not required by ERISA, is a key component of administering a plan and measuring ongoing performance. The Education Policy Statement provides structure for the plans employee education efforts, sets parameters and establishes measurement benchmarks to gauge progress and the success of education programs.

American workers are grappling with a high degree of uncertainty when it comes to planning for their retirement. This white paper outlines how plan sponsors and financial advisors can establish a plan to help educate employees to improve their retirement readiness, said Stig Nybo, president of pension sales and distribution for Transamerica Retirement Solutions. At Transamerica, we are committed to empowering plan participants to retire with confidence, and helping plan sponsors enhance their educational efforts is a step toward that goal.

Financial advisors who offer an Education Policy Statement to clients position themselves as credible resources to help plan sponsors and their participants better prepare for a comfortable retirement.

Tackling the retirement readiness challenge head-on, this white paper details the key ingredients of a well-crafted Education Policy Statement for retirement plans, boiling it down to five key elements: Clear plan purpose; plan objectives; education goals; measurements and benchmarking; and well-defined roles and responsibilities.

For more information about creating an Education Policy Statement, along with an annual employee education plan and a campaign calendar of events, call Transamerica Retirement Services at (888) 401-5826, Monday through Friday, 9 a.m. to 7 p.m. Eastern Time.

About Transamerica Retirement Services

Transamerica Retirement Solutions Corporation (Transamerica or Transamerica Retirement Services), which is headquartered in Los Angeles, CA, designs customized retirement plan solutions to meet the unique needs of small- to mid-sized businesses. Transamerica has more than 17,0001 retirement plans totaling more than $20 billion1 in assets. For more information about Transamerica, please refer to http://www.TA-Retirement.com.

1As of December 31, 2011.

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Transamerica Retirement Services Promotes Importance of Education Policy Statements for Retirement Plans