Transamerica Expands Financial Education Program for Retirement Plan Participants with Online Financial Wellness Center

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Jun 18, 2020, 09:03 ET

BALTIMORE, June 18, 2020 /PRNewswire/ -- Transamerica today announces its new online Financial Wellness Center offering enhanced education resources for retirement plan participants and sponsors. This interactive education platform features insight on a wide range of topics, from budgeting to preparing for retirement. This self-paced, digital learning experience is now available to all Transamerica retirement plan sponsors and their participants.

Transamerica's Financial Wellness Center arrives at a moment of financial stress for many. According to a recent survey conducted by the nonprofit National Endowment for Financial Education, 88 percent of Americans say the COVID-19 crisis is causing stress on their personal finances, with more than half saying their top cause of financial stress right now is not having enough in savings. Financial knowledge can be an effective tool to help mitigate stress and manage unexpected events. Even in less volatile times, relevant and tailored financial education is a valuable benefit for participants to help them plan for a secure future. Transamerica's Financial Wellness Center is a digital financial education resource powered by EVERFI, a leading education technology company.

Transamerica's Financial Wellness Center complements its growing array of educational resources and is part of Transamerica's holistic approach to financial wellbeing. In addition to the educational suite Transamerica already provides, the Financial Wellness Center incorporates specialized education playlists to guide plan participants through multiple stages of their financial journey.

This new online resource helps plan participants learn about the financial topics that matter most to them on their own time. Each playlist contains short videos, lessons, and other tools to make it easy to learn about financial fitness. Users have the ability to create a personalized playlist from more than 30 topics, including interactive learning modules such as creating a budget, building emergency savings, and cultivating healthy financial habits. Courses are available in English and Spanish, and are mobile and tablet enabled. Many items can be completed in three to six minutes, so learning can fit into any schedule on most devices.

"Financial education is a key component to making smart decisions now and for the future. Transamerica's new Financial Wellness Center helps participants plan to meet their goals today and to improve expected retirement outcomes in the future," said Kent Callahan, Chief Executive Officer for Transamerica's Workplace Solutions division. "Especially during these uncertain times, education is critically important in helping people build financial security. We anticipate that this new online tool will help plan participants navigate complex financial issues and prepare them for a more secure future."

About Transamerica
With a history that dates back more than 100 years, Transamerica is recognized as a leading provider of life insurance, retirement and investment solutions, serving millions of customers throughout the United States. Recognizing the necessity of health and wellness during peak working life, Transamerica's dedicated professionals work to help people take the steps necessary to live better today so they can worry less about tomorrow. Transamerica serves nearly every customer segment, providing a broad range of quality life insurance and investment products, individual and group pension plans, as well as asset management services. In 2019, Transamerica fulfilled its promises to customers, paying more than $50 billion in insurance, retirement, and annuity claims and benefits, including return of annuity premiums paid by the customer. Transamerica's corporate headquarters is located in Baltimore, Maryland, with other major operations in Cedar Rapids, Iowa. Transamerica is part of the Aegon group of companies. Based in the Netherlands, Aegon is one of the world's largest providers of life insurance, pension solutions and asset management products, operating in more than 20 markets worldwide. For the full year of 2019, Aegon managed over $1 trillion in revenue generating investments. For more information, please visit www.transamerica.com.

Transamerica is sponsoring financial education programs developed by EVERFI, a third party unaffiliated with Transamerica that is responsible for the content of the financial education program.

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Hank Williams
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Julie Quinlan
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SOURCE Transamerica