Transamerica Grows Retirement Plan Business With Newly Created Pooled Employer Plans

BALTIMORE, Oct. 14, 2020 /PRNewswire/ — Transamerica announced today that the company has been selected to be a retirement plan recordkeeper of the Lockton Northeast (NE) Series pooled employer plan. Lockton is a global professional services firm and the world’s largest privately held independent insurance broker. Pinnacle, an NPPG Company, will serve as the third party administrator and NPPG Fiduciary Services as the Pooled Plan Provider (PPP). This collaboration is a new milestone in Transamerica’s pioneering history in pooled retirement benefit plans, encompassing nearly two decades of advocacy and specialization.

To support the new Lockton NE Series pooled employer plan, Transamerica will leverage its pooled retirement plan experience. Transamerica can offer a flexible plan design to each adopting employer in the pooled plan, enabling employers to customize their retirement plan’s design elements based on employees’ needs. Transamerica also offers specialized recordkeeping specific to each adopting employer in the pooled

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Tesco’s online business grows 90% in three months, driving profits up 29%, as habits shift again – Industry

Tesco: online and local stores drive growth

Tesco: online and local stores drive growth

Tesco’s online business has grown by a whopping 90% across the three months to the end of August, driving overall food sales up by 9% and seeing pre-tax profits for the half year hit £551 million.

 

The shift to online is part of a wider change in shopping habits, which has seen consumers doing a large weekly shop online, then heading to local Tesco stores for a top up.

 

This has seen large store sales grow by just 1.4%, while the retailer’s local store portfolio has seen a 7.6% rise in sales across the period. Average basket sizes in large stores have, however, risen by 56% as shoppers make fewer trips.

 

However, with the surge in online happing more rapidly than expected and with these changes in shopper habits coming down the pipe, Tesco has also incurred a hefty £553 million bill for

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