Updated 2026-03-30
Merrill vs Transamerica 401(k) Comparison
Compare Merrill Lynch (#8, 8.0/10) and Transamerica (#11, 7.5/10) side by side across fees, ratings, features, and investment options.
Overall Comparison
| Feature | Merrill | Transamerica |
|---|---|---|
| Overall Score | 8.0/10 | 7.5/10 |
| Rank | #8 | #11 |
| AUM | $3.0 trillion | $300 billion |
| Participants | 5 million | 6 million |
| Plan Sponsors | 2,500+ | 35,000+ |
| Founded | 1914 | 1904 |
Ratings Comparison
| Category | Merrill | Transamerica |
|---|---|---|
| Fees & Costs | 3.3/5 | 3.6/5 |
| Investment Options | 4.5/5 | 3.7/5 |
| Customer Service | 4.1/5 | 3.8/5 |
| Mobile App | 4.2/5 | 3.5/5 |
Fee Comparison
| Fee Type | Merrill | Transamerica |
|---|---|---|
| Admin Fees | Varies by plan size | $750 - $3,000/year |
| Expense Ratios | 0.03% - 1.5% | 0.25% - 1.2% |
| Trading Fees | $0 - $6.95 | Plan dependent |
| Advisory Fees | 0.45% - 1.5% | 0.35% - 0.85% |
Merrill Strengths
- Bank of America Preferred Rewards benefits
- Strong advisory and guidance services
- complete financial planning
- Wide investment selection
Transamerica Strengths
- complete financial wellness programs
- Flexible plan design options
- Strong educational resources and tools
- Integrated workplace benefits platform
Rollover, Loans & Withdrawals
| Feature | Merrill | Transamerica |
|---|---|---|
| Rollover Platform | Benefits OnLine | Transamerica.com |
| Loans Available | Yes | Yes |
| Withdrawal Methods | Online via Benefits OnLine, Phone (888-968-4015), Bank of America branches | Online via Transamerica.com, Phone (800-755-5801) |
| Distribution Options | Lump sum, Partial withdrawal, Installment payments, Rollover to IRA | Lump sum, Partial withdrawal, Installment payments, Rollover to IRA |
Which Should You Choose?
Choose Merrill if you want:
- BofA customers
- Advice seekers
- Large employers
- Full-service needs
Choose Transamerica if you want:
- Mid-sized companies
- Integrated benefits seekers
- Financial wellness focus
Our Verdict: Merrill vs Transamerica
Merrill Lynch wins this comparison with a score of 8.0/10 vs 7.5/10. Merrill excels with bank of america preferred rewards benefits, making it the stronger choice for most investors in this matchup. However, the best choice ultimately depends on your specific needs, employer plan availability, and investment preferences.
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Merrill vs Transamerica: Complete 401(k) Comparison for 2026
Choosing between Merrill Lynch and Transamerica for your 401(k) is an important decision that affects your retirement savings. Merrill offers bofa integration while Transamerica is known for workplace benefits. In terms of fees, Merrill charges 0.03% - 1.5% expense ratios compared to Transamerica's 0.25% - 1.2%. Merrill manages $3.0 trillion in assets and serves 5 million participants, while Transamerica has $300 billion AUM and 6 million participants.
Key Differences: Merrill vs Transamerica
When comparing Merrill and Transamerica, consider their core strengths: Merrill excels with bank of america preferred rewards benefits, while Transamerica stands out for complete financial wellness programs. Both providers offer a wide range of investment options including target-date funds, index funds, and managed accounts. Merrill's customer service rating is 4.1/5 compared to Transamerica's 3.8/5. For mobile experience, Merrill scores 4.2/5 while Transamerica scores 3.5/5.
Which Provider is Right for You?
Choose Merrill if you prioritize bofa customers. Choose Transamerica if you're looking for mid-sized companies. Your decision should also consider your employer's plan availability, fee sensitivity, desired investment options, and customer service expectations. For detailed reviews, visit our individual Merrill and Transamerica provider pages.
Frequently Asked Questions
Merrill Lynch scores higher in our 2026 rankings with 8.0/10. Merrill is best for bofa customers, while Transamerica is best for mid-sized companies. The right choice depends on your employer's plan and your priorities.
Merrill charges expense ratios of 0.03% - 1.5% with admin fees of Varies by plan size. Transamerica charges 0.25% - 1.2% expense ratios with admin fees of $750 - $3,000/year. Merrill's fees rating is 3.3/5 compared to Transamerica's 3.6/5.
Yes, you can roll over between Merrill and Transamerica. Merrill uses Benefits OnLine for rollovers, while Transamerica uses Transamerica.com. A direct rollover avoids mandatory tax withholding. Contact your new provider to initiate the transfer.
Merrill offers 401(k) loans. Transamerica offers 401(k) loans. Both providers typically allow loans up to 50% of your vested balance or $50,000, whichever is less.
Merrill scores 4.5/5 for investment options, while Transamerica scores 3.7/5. Both offer target-date funds, index funds, and managed accounts. Merrill's investment options include Mutual Funds, ETFs, Stocks. Transamerica offers Mutual Funds, Target Date Funds, Stable Value.
For small businesses, consider plan minimums and per-participant costs. Merrill is best for bofa customers, advice seekers, large employers, full-service needs. Transamerica is best for mid-sized companies, integrated benefits seekers, financial wellness focus. Compare admin fees: Merrill charges Varies by plan size vs Transamerica's $750 - $3,000/year.
Pavlo Pyskunov
Managing Director & Investment Fund Director
Pavlo Pyskunov analyzes employer-sponsored retirement plans using IRS publications and DOL Form 5500 filings, helping workers maximize their 401(k) savings through data-driven guidance.
Last updated: 2026-03-30