Thomas P. Brennan III – Director of Sales

Transamerica Retirement Services

Daniel P. Iscra – Financial Advisor

Merrill Lynch

September 21, 2009

Steel Founders’ Society of America

2

Presentation Agenda

Why is Transamerica different?

Plan Administration Service Support (PASS)

Investments & Fiduciary Support

Plan Installation & Conversion Timelines

Sales Processes, Marketing & Participant Education

Sponsor & Participant Service Center – Web Capabilities

• Sponsor & Participant Website

• Online Adoption Process

3

Western Region

Southern Region

Northeast Region

Central Region

Wherever You Need Us—Nationwide

4 Regions

49 Territories/RVPs

4

Industry-Leading Client Satisfaction Ratings

2008 PLANSPONSOR Defined Contribution Survey*• 40 Best in Class cups in the small & micro market segments

• 96% Recommendation rate

Chatham Partners 2007 Client Satisfaction Survey• Best In Class in 17 out of 20 categories

• Best Performer in 11 out of 20 categories

*Transamerica Retirement Services received 40 ―Best in Class‖ cups for sponsor and participant services in PLANSPONSOR® Magazine’s annual Defined Contribution Survey of retirement

plans. The 40 Best in Class designations—21 in the micro (<$5 million) and 19 in the small ($5 million to $50 million) markets—rank Transamerica Retirement Services among the top cup

recipients of the 47 providers evaluated in the micro- and small-plan markets. The results of the Defined Contribution Survey were announced in the November 2008 issue of

PLANSPONSOR® Magazine. The survey polled nearly 6,000 clients of 52 defined contribution plan providers. ―Best in Class‖ cups are awarded to plan providers who score in the top quartile

of a specific category. See the November 2008 issue of PLANSPONSOR® Magazine for complete results.

5

2000 2001 2002 2003 2004 2005 2006 2007

MEP

with

TPA

Corporate

Training

Program

IO

Product

Launch

Build

Product

Story

Commitment

to

Build

Special

Markets

Formed

Full

Service

Product

Dedicated

MEP

Teams

Plan

Admin

Service

Support

PASS

MEP

CRM

Team

Online

Plan

Adoption

0

50

100

150

200

250

300

2001 2002 2003 2004 2005 2006 2007 2008

YTD

Sales($M)

Multiple Employer Plans—

A History of Commitment

6

Plan Administration

Service Support

(PASS)

Reporting:

Quarterly Reports

Annual Audit

Online

Participant

Enrollment

Eligibility

Tracking

Online

Plan Adoption

Flexible

Provisions:

Vesting, Eligibility

Profit Sharing

Matching

Web Access:

Able for each

Adopting

Employer

Forfeitures:

Real Time Allocation

Recordkeeping:

Via Sub-ID

Transamerica

Platform

Platform—Critical for MEP Plan Success

Plan Administration Service Support

(PASS)

8

Why PASS Was Developed

We recognize that Sponsors find themselves spending more and more time sorting through their administrative and

fiduciary responsibilities. Our goal is to partner with you and alleviate some of your administrative tasks.

Our support enables you to focus on strategic decisions while we handle the daily operation and coordination of

your plan and its activities.

We partner with you to set up the guidelines and then operate as your agent—working directly with each group and

participant.

Transamerica will…

• Work with Steel Founders’ Society of America to establish guidelines

• Operate at the direction of SFSA

• Relieve the administrative tasks by handling many daily operational activities of the

Plan Administrator

Plan Administration Service Support (PASS)

9

• Quarterly Participant Statement

• Compliance & Discrimination Testing

• Participant & Sponsor Website

• Ongoing Enrollment Support

PLAN ADMINISTRATOR TASKS FOR THE PLAN

PAYROLL

HARDSHIPS

NOTICES

INVESTMENT CHOICES

TERMS

LOANS

QUALIFIED DOMESTIC RELATIONS ORDER

FILINGS

ELIGIBILITY

COMMUNICATIONS

PLAN DESIGN

SUMMARY PLAN DOCUMENTS

REQUIRED MINIMUM DISTRIBUTIONS

TRUSTEE DUTIES

ROLLOVERS

DISTRIBUTIONS

FIDUCIARY

PARTICIPANT SUPPORT

ENROLL

REVIEW MATERIALS

TYPICAL VENDOR(s) TASKS FOR THE PLAN

Recordkeeping & 5500 Filing

SFSA

Responsibilities

10

INVESTMENT CHOICES

PLAN DESIGN

TRUSTEE DUTIES

FIDUCIARYPAYROLL

HARDSHIPS

NOTICES

RECORDKEEPING

TERMS

LOANS

QUALIFIED DOMESTIC RELATIONS ORDER

FILINGS

ELIGIBILITY

COMMUNICATIONS

SUMMARY PLAN DOCUMENTS

REQUIRED MINIMUM DISTRIBUTIONS

ROLLOVERS

DISTRIBUTIONS

PARTICIPANT SUPPORT

ENROLL

REVIEW MATERIALS

PLAN ADMINISTRATOR PASS ADMINISTRATORWhat PASS does for

SFSA

Investments

12

A complete fiduciary packaging tool used to document your plan’s fiduciary process

Collect your most important fiduciary documents into one convenient package.

Due Diligence Investment Review with Fiduciary Warranty

13

A powerful tool to help you satisfy the

investment portion of your fiduciary

responsibility

Includes:

• Fiduciary Warranty

• Investment Questionnaire

• Investment Policy Statement

• Due Diligence Investment Review

• Annual Retirement Plan Review

• Transamerica Investment Monitor

• Quarterly Investment Scorecards

• Standard & Poor’s Review Letter

• Co-Fiduciary Risk Management

Fiduciary Management ProgramSM

14

Quarterly Investment Scorecard

INCREASED MONITORING(Generally 2-6 Consecutive Quarters)

• Increasing communication and

reporting required from the

investment team of the

underlying investment

• Conducting an in-depth review

of the investment team and

organization, consistent with our

qualitative investment selection

criteria

WATCH LIST(Generally 6-8 Consecutive Quarters)

• Continue to closely monitor the

investment choice due to

consistent low scores

• In some cases, the investment

choice may be closed to new

investors

MANAGER CHANGE OR

COMPETE CLOSURE(8+ Consecutive Quarters)

• Consistent with investment

choice provisions, Transamerica

may elect to hire a different sub

advisor to manage existing

assets or the investment choice

may be completely closed

Transamerica Investment Monitor Process—

How Our Investment Choice Measures Up

15

Identifies managers and organizations that

have the potential to deliver consistent

performance over time.

Tracks investment choices that have lower

than average management expenses.

Continually monitors the investment choices

line-up.

Independent Endorsement of Transamerica’s

Investment Process

Transamerica Investment Monitor

16

Quarterly Investment Scorecard

Investment Choice Fact Sheets

Investment Choice Performance

Transamerica Investment Monitor

Investment Tools

17

More than 30 leading investment management companies

More than 150 investment choices

Diversification throughout various asset classes

Not an all

inclusive list

Not a complete listing. Your plan’s investment management companies may vary based on your choice of retirement product. These investment management companies are representative and

may change in the future.

Plan Installation & Conversion Timelines

19

Operational Efficiency

Designed Platform Support for Multiple Employer Plans

Quality Metrics—Measurable Results

MEP Dedicated Services

Reporting Capabilities—Future Growth Activities

Industry Leading Client Satisfaction Ratings

Institutional Expertise

Dedicated Teams throughout the Organization

Proprietary Volume Submitter Document

Multiple Employer Plan-Designed Audit Package

Continued Commitment to Innovate

Key Competitive Advantages—Converting, Servicing Growing

20

Multiple Employer Plan Sponsors 175

Multiple Employer Plan Conversions 130

Total Adopting Employers 7,800

Total Adopting Employer Conversions 4,800

Conversion Experience—Multiple Employer Plans

21

.

• Finalize contracts between all

parties

• Meeting with Steel Founders’

Society of America &

Transamerica to finalize

conversion timeline

• Sign-off on High-Level imple-

mentation strategy & timeline

• Conference Call with

Incumbent Provider

• Present / discuss timeline

& file layouts

• Asset/Data implications &

timing

• Current processing

standards &

administration

Conversion Strategy Participant Education Assets & Records Conversion On-going Support

January 2010December 2009October–November 2009October 2009

• Plan sponsor communication

• Participant communication

• Enrollment kits and materials

Cut-off transactions at

incumbent provider

Liquidate and transfer assets

Clear all transactions and

provide reconciled files

Reconciliation & quality review

Data exceptions reviewed /

resolved

Audit reporting package

generated

Web/IVR access available

• Support installation of new

Adopting Employers to the

Steel Founders’ Society of

America plan

Transamerica will take on Recordkeeping/Administration as of 01/01/2010

22

Blackout Recommendation: January 2010Program Conversion Methodology

Sunday Monday Tuesday Wednesday Thursday Friday Saturday

12/13 12/14 12/15 12/16 12/17 12/18 12/19

Prior Provider

processes all

pending transactions

& creates final

conversion files

12/20 12/21 12/22 12/23 12/24 12/25 12/26

Blackout and

liquidation at Prior

Provider

Final participant

fund/source data

files received

Holiday

12/27 12/28 12/29 12/30 12/31 1/1 1/2

Loans reconciled;

asset / records

reconciliation

Data exceptions

resolved / quality

review performed

Plan Live

Web / IVR access

enabled

Plan activity

monitored

Holiday

1/3 1/4 1/5 1/6 1/7 1/8 1/9

Plan activity

monitored

Sales Processes, Marketing &

Participant Education

24

Client receives customized

MEP Marketing Kit within

4-5 business days

Client

interested in MEP 401(k)

MEP 401(k) Survey

Completed

(Forwarded to

Special Markets)

Client contacted

by Transamerica

Sales Consultant 2

business days after

Marketing Kit arrives

Client Checklist, AAA,

Takeover Documents

forwarded to Installation

Services at

MEPsubmissions.com

Client set up by Installation

Services Project Manager to

Begin Adoption Process

Enrollment Kits Ordered,

Enrollment Workshop Conducted,

Participants Can Enroll Online & Begin Deferrals

Logged into

tracking system

Adopting Employer Sales Process

25

Adopting Employer

Brochure

Plan Maximizer® Brochure

Safe Harbor Brochure

Nondiscrimination

Testing VideoAdopting Employer Direct Mail Campaigns

*The Investment Scorecard is the result of the Transamerica Investment Monitor’s quarterly

review of each of Transamerica Retirement Services’ investment choices. All ratings are based

on Transamerica Retirement Services’ (―Transamerica‖) proprietary rating methodology.

Transamerica reserves the right to modify, eliminate, or add criteria at any time.

Nondiscrimination

Testing Booklet

Investment Scorecards* Guide to Understanding MEP

Cost Savings & Benefits

26

Retirement.

A journey made simple.®

Enrollment kit

Enrollment Poster401(k) Day Materials

Retirement Planning

AssessmentsPayroll Stuffers Worth A Look Newsletters

Participant Education—Enrollment, Information & Guidance

Sponsor & Participant Service Center –

Web Capabilities

28

http://demo.ta-retirement.com

Principal Employer: Username: mepsponsor / Password: mepsponsor1

Adopting Employer: Username: company / Password: company1

Employee self registration (will also go into the online enrollment process):

From the Home page, select "First time user? Register here." link in the login area

Next, select "I am an employee" and click Continue

SSN: 666666666

DOB: 01/01/1950

Zip: 11717

Employee login (with online enrollment): Username: enroll / Password: enroll1

Employee login (bypasses online enrollment): Username: mepparticipant / Password: mepparticipant1

Demo Accounts

29

Online Adoption—Introduction and Background

Streamlined process of adding new adopting client into an MEP plan

Enabled online review and acceptance of the Adoption and Acceptance Agreement

(―AAA‖)

Online functionality is used by both the adopting client and SFSA

Process provides an interface via the Plan Sponsor section of www.ta-retirement.com

Adopting clients can review, accept or decline the Adoption and Acceptance Agreement

from the web site using a limited access User ID

SFSA can track the progress of the adopting client installation, review and approve or

decline the request of the adopting client into the plan

30

Online Adoption

Once an Adopting Employer has been

submitted to Transamerica and set up, an e-

mail is automatically sent to the Employer by

SFSA, informing them that the installation

process has begun and they can now log on to

review and approve the AAA.

31

Online Adoption

• After the initial Employer log in, they are

required to accept the terms of the use of the

web site.

• Directed to the Adoption and Acceptance

Agreement page where they can view the AAA

by clicking on the Click here to review the

Draft Adoption and Acceptance Agreement.

• APPROVE: ―I have Read and Approve.‖

• DECLINE: ―I Decline the AAA.‖ If this is

selected, they are prompted to enter the

reason for declining.

• Click on Next to move to the next page.

32

Online Adoption

Confirmation Page

33

Online Adoption

Once they click ―Continue,‖ they are

directed to the Installation Status page,

where they can see case Project Plan.

34

Online Adoption

An e-mail of this confirmation is sent to

the adopting client and SFSA.

35

Online Adoption

Electronic Signature

36

Installation Fee for Multiple Employer Plan• $3,500 – Waived

Initial Installation• $100 – Waived for up to 7 Adopting Employers

After Initial Installation• $100 per Adopting Employer

Annual Recordkeeping Fee• $38 ($9.50 quarterly)

Additional Services• $50 Per Distribution

• $50 Loan Set Up

• $50 Annual Loan Maintenance

• $100 De-Conversion

*Asset Charge includes:• Advisor Compensation:

0.25% Deposit Based (All Year)0.25% Asset Based (All Years)

• Full PASS Schedule

Total Plan Assets Asset Charge*

$0 – 99,999 1.70%

$100,000 – 249,999 1.40%

$250,000 – 499,999 1.35%

$500,000 – 749,999 0.70%

$750,000 – 999,999 0.50%

$1,000,000 – 1,999,999 0.40%

$2,000,000 – 2,999,999 0.30%

$3,000,000 – 3,999,999 0.20%

$4,000,000 – 5,999,999 0.15%

$6,000,000 – 7,999,999 0.10%

$8,000,000 + 0.05%

Transamerica Fee Schedule

Questions & Discussion

38