Millennium Trust and Transamerica Team Up on Safe Harbor IRAs | Millennium Trust Company

Millennium Trust and Transamerica Team Up on Safe Harbor IRAs

September 7, 2022

OAK BROOK, IL – January 22, 2021 – Millennium Trust Company, LLC (Millennium Trust) and Transamerica Retirement Solutions, LLC (Transamerica) recently entered into a strategic relationship to provide Millennium Trust’s industry-leading Safe Harbor Individual Retirement Account (IRA) product to Transamerica’s retirement plan sponsors. The alliance enables Transamerica to sharpen its focus on retirement solutions while remaining committed to expanding its capabilities and growing its retirement business.

“Safe Harbor IRAs continue to be an essential component of a well-designed retirement plan,” said Peter Welsh, Managing Director, Millennium Trust Retirement Services Sales. “It’s a win-win solution that removes small balance accounts (of unconfirmed or non-responsive former employees) from retirement plans, helping to mitigate risk at the plan sponsor level. It also ensures participants’ savings remain in a tax-advantaged account.”

“Transamerica is firmly committed to serving its core IRA business. We are confident in Millennium Trust’s ability to provide excellent service to its Safe Harbor IRA account holders, which is why we chose to enter into this strategic relationship,” said Phil Eckman, President of Transamerica’s Workplace Solutions division.

As a leading provider of Safe Harbor IRAs and institutional services, Millennium Trust continues to grow its valued institutional partnerships with top recordkeepers, like Transamerica, by delivering exceptional value to Transamerica’s plan sponsor clients and participants by offering a Safe Harbor IRA solution that includes a state-of-the-art digital platform with dedicated multi-lingual client relationship resources. The Millennium Trust Safe Harbor IRA solution is considered a top choice for some of the largest recordkeepers, third party administrators (TPAs), and plan sponsors in the industry.

About Millennium Trust

Millennium Trust is a leading provider of retirement and financial services with more than 2.6 million individual and institutional clients holding more than $43 billion in assets. We are committed to meeting the evolving needs of individuals, employers, advisors, and institutional partners, by empowering clients to achieve their financial and business goals through trusted expertise, exceptional service, and access to a wide range of solutions. Whether clients are managing retirement assets, running a business, or seeking choices beyond traditional asset options, Millennium Trust provides flexible digital solutions to support our clients’ successes. For more information about Millennium Trust Company, follow us on Twitter and LinkedIn.

About Transamerica Retirement Solutions, LLC 

Transamerica Retirement Solutions, LLC (Transamerica) is a leading provider of customized retirement plan solutions for mega-, large-, and mid-market organizations. Transamerica Retirement Solutions works with financial advisors, consultants, and third party administrators to cover the entire spectrum of defined benefit and defined contribution plans, including: 401(k) and 403(b) (Traditional and Roth); 457; profit sharing; money purchase; cash balance; Taft-Hartley; multiple employer plans; non-qualified deferred compensation; and rollover and Roth IRAs. For more information, visit