1. THE ECONOMY AND THE MARKET
The 4th Quarter in Review
Good morning/afternoon/evening! [Introduce yourself]
Welcome to The Economy and the Market seminar.
It seems that now, more than ever before, we’re all focusing on the economy and the performance of the financial markets, including the stock market. Just turn on the news or pick up a newspaper and you’ll see a story about how the current recession is affecting us in one way or another.
And, as a participant in [your employer’s] retirement plan, you may have seen that the current economy is affecting your retirement plan account. For some of you, this may be the first time you’ve seen as much volatility in your account returns or the overall value of your account. The good news is that these uncertain times don’t have to derail your retirement savings strategy.
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© 2010 Transamerica Corporation. All rights reserved.
FOR EDUCATIONAL USE ONLY

2. Capital Markets Review – 4th Quarter 2009
Despite the best quarterly returns in a decade, the economy remains fragile
All major domestic equity indices posted
double-digit gains for 2009
The U.S. Treasury curve ended
the year higher and steeper
Emerging Market stocks led
global performance for the year
Financial markets, backed by the intensive rescue efforts of governments around the world, had a strong recovery in 2009, bouncing back from the unprecedented crisis of the previous year. After falling 25.4% to a twelve-year low from January through March 9th, 2009, the Dow Jones Industrial Average (DJIA) ended the year up 18.8%. The broader-based S&P 500 Index increased 26.5% for the year, while the technology-heavy NASDAQ Composite Index returned an even better 45.3%. Many of the sectors hit the hardest in the decline of 2008, led the rebound in 2009.
A higher yield curve represents a greater difference between short-term and long-term treasury yields. This effect can be seen when the Federal Reserve lowers short-term interest rates.
Overall December performance in the Fixed Income market was a reflection of the year, as a whole, as treasuries underperformed the corporate and high yield sectors. A selloff in treasuries in December caused yields to rise, which resulted in long-term treasuries suffering the most in the 4th quarter, while short-term treasuries were mostly flat. High yield bonds led performance during the 4th quarter, as they have for the entire year, with the Merrill Lynch US High Yield Master II Index posting gains of 6.2% for the period.
Global equity market performance was also positive for the fourth quarter of 2009, with emerging market stocks as the best performers. The MSCI EAFE Index, a broad global equity market index, gained 2.19% during the final quarter of 2009, while the MSCI Emerging Markets Index returned 8.37%. Emerging market stocks, as measured by the MSCI Emerging Markets Index, climbed 78.51% for the year, mostly driven by the 93.12% gain in the BRIC (Brazil, Russia, India, and China) economies with a 10.20% gain in the fourth quarter alone. Asia is the first region to exit the global economic decline due to a surprising, though welcome, increase in consumer consumption. Specifically, China, India, and South Korea are leading the charge with businesses bringing in profits and unemployment rates falling.
Disclosures:
Transamerica Retirement Services does not provide investment advice. Clients and other interested parties must consult and rely solely upon their own independent advisors regarding their particular situation. Transamerica Retirement Services does not act as a fiduciary.
One cannot invest directly in an index. An index is unmanaged and does not take into account the fees and expenses associated with an actively managed fund, so performance may differ. Past performance is not a guarantee of future performance.
Source: Morningstar Direct. Data as of December 31, Please see slide 32 for additional disclosures. 2

3. 4th Quarter 2009 Economic Review
Indicators
Economic Impact
GDP Growth
Real gross domestic product (GDP) for Q4 increased 5.7%
Corporate
Profits
Corporate profits continue to improve
As we discussed earlier, a review of the investment markets often begins with a review of economic indicators. Here we see several major indicators, noting their status and their impact on the stock and bond markets.
GDP: The economy returned to positive growth during third quarter increasing 2.2% and the Bureau of Economic Analysis (BEA) places the fourth quarter increase at 5.7%. According to the BEA, the increase in the fourth quarter was driven in part by a reduction in the rate at which businesses are reducing inventory, an upturn in business spending on equipment and software, and an increase of 18.1% in exports with a lower increase in imports (lower imports increase GDP because it is a subtraction in the calculation of GDP).
Corporate Profits: The BEA reported that Corporate profits increased $132.4 billion in the third quarter with domestic profits of financial corporations increasing 31.1 percent and domestic non-financial corporations increasing 4.2%.
The U.S. Bureau of Labor Statistics (BLS), reported that during the fourth quarter of 2009, labor productivity increased at a 6.2% annual rate reflecting an increase of 7.2% in output and 1% in hours worked. According to the BLS, this was the first quarterly increase in hours worked since the second quarter of 2007.
Source: , 3

4. 4th Quarter 2009 Economic Review
Indicators
Economic Impact
Employment
The fourth quarter ended with an unemployment rate of 10%
Federal Funds Rate
The Federal Reserve plans to keep the Federal Funds Rate at % for an extended period
Inflation
Despite rising energy prices over 2009, measures of core inflation remain historically low
Employment - Unemployment levels remained at the highest rate seen in 26 years ending December at 10%. The Bureau of Labor Statistics reported that unemployment fell to 9.7% in January of 2010.
Federal Funds Rate (A common indicator of short term rates): On January 27, 2010, the Federal Open Market Committee reiterated their December decision to keep the federal funds rate at a historically low range of % for an extended period of time.
Inflation: The Fed reports that economic activity continues to strengthen and the labor market deterioration is beginning to abate and projects a gradual economic recovery with inflation remaining subdued for some time. The Bureau of Economic Analysis estimated the annual inflation rate for 2009 at just 1.4% with an increase in December of just 0.1%.
Source: 4

5. Stock Index Returns
U.S. equity markets continued on their positive streak during the fourth quarter of 2009*
Many of the sectors hit the hardest in 2008, had the strongest performances in 2009*
During 2009, U.S. stocks outperformed European stocks, while emerging markets’ stocks out-performed domestic stocks*
U.S. stocks continued to rebound during the final quarter of 2009, extending the rally which began after March 9th, 2009.
Major stock indices reflected the overall consumer sentiment that the worst part of the recession may be behind us, with the S&P 500 Index gaining 6.04% for the quarter. At the end of 2009, the S&P 500 posted gains of 26.5% for the year. In a change from the ‘low quality’ rally seen in the last two quarters, large capitalization stocks outperformed mid-cap stocks and small-cap stocks for the fourth quarter. Mid-cap stocks closely followed behind large-cap stocks, with gains of 5.9% for the period. Small-cap stocks lagged further with a 3.9% return for the quarter. On an annual basis, mid-cap stocks remained king with a 20.5% return. Large-cap stocks and small-cap stocks had similar annual returns of 26.5% and 27.2%, respectively.
The persistent rebound was not confined to the United states, as both foreign developed markets and emerging markets saw positive returns in the final quarter also. As typical of what was seen in 2009, emerging markets’ stocks were the top performers in the quarter again. The MSCI World-Ex US Index underperformed domestic stocks across all capitalization sectors with a 2% return for the quarter, though it outperformed all domestic stocks, except mid-cap stocks, on an annual basis.
Disclosures:
Transamerica Retirement Services does not provide investment advice. Clients and other interested parties must consult and rely solely upon their own independent advisors regarding their particular situation. Transamerica Retirement Services does not act as a fiduciary.
One cannot invest directly in an index. An index is unmanaged and does not take into account the fees and expenses associated with an actively managed fund, so performance may differ. Past performance is not a guarantee of future performance.
Source: *Morningstar Direct. Data as of December 31, Please see slide 32 for additional disclosures. 5

6. Annual Stock Returns vs. Long-Term Average
Here we see the annual S&P 500 returns from 1989 through The red line indicates the 20-year average return for the Index, 10.11%. Remember, “normal” averages are made up of many “abnormal” periods such as the volatile market conditions we are currently experiencing.
Disclosures:
Transamerica Retirement Services does not provide investment advice. Clients and other interested parties must consult and rely solely upon their own independent advisors regarding their particular situation. Transamerica Retirement Services does not act as a fiduciary.
One cannot invest directly in an index. An index is unmanaged and does not take into account the fees and expenses associated with an actively managed fund, so performance may differ. Past performance is not a guarantee of future performance.
Source: Morningstar Direct. Data as of December 31, Please see slide 33 for additional disclosures. 6

7. Bond Index Returns 7 Corporate spreads continued to narrow
The Federal Reserve maintained the fed funds rate in the % range
Barclays Capital Aggregate Bond Index was up just 0.20% for the quarter
The lower-rated, high yield bonds had the strongest performance with returns of 6.2%
What about bond funds?
Fixed Income markets saw mixed performance in the fourth quarter, with short-term Treasuries suffering the most. Prices for corporate bonds rose, while their yields fell during the period; it is thought that this trend will continue during Similar to what was seen in the equity markets, lower-quality high yield bonds were rewarded the most during the quarter, returning 6.2% for the period, as represented by Credit Suisse High Yield Index.
The Barclays Capital Aggregate Bond Index, which is designed to be representative of the overall bond market, increased 0.20% for the quarter. Corporate bonds, as represented by the Barclays Capital 1-5 Year Credit Index, had a modest increase of 1.48%. Government bonds lost 0.42% in the fourth quarter, as represented by the Barclays Capital Intermediate Government Index.
Disclosures:
Transamerica Retirement Services does not provide investment advice. Clients and other interested parties must consult and rely solely upon their own independent advisors regarding their particular situation. Transamerica Retirement Services does not act as a fiduciary.
One cannot invest directly in an index. An index is unmanaged and does not take into account the fees and expenses associated with an actively managed fund, so performance may differ. Past performance is not a guarantee of future performance.
Source: Morningstar Direct. Data as of December 31, Please see slide 33 for additional disclosure information. 7

8. Annual Bond Index Returns vs. Long-Term Average
As we did with stocks, let’s put recent bond returns in historical context.
Bond market returns were modestly positive in The Barclays Capital Aggregate Bond Index, which is designed to be representative of the overall bond market, was up 6% for the year. Compared to the double-digit gains in the equity markets for the same period, the increase in the bond markets was a sigh of relief.
Uncertainty is still a major part of the economic outlook so it’s important to note that bonds can play an important role in reducing risk of a well-diversified portfolio. Since no one can predict near-term outcomes, as always, retirement plan investors are advised to remain well diversified and retain a long-term perspective.
Disclosures:
Transamerica Retirement Services does not provide investment advice. Clients and other interested parties must consult and rely solely upon their own independent advisors regarding their particular situation. Transamerica Retirement Services does not act as a fiduciary.
One cannot invest directly in an index. An index is unmanaged and does not take into account the fees and expenses associated with an actively managed fund, so performance may differ. Past performance is not a guarantee of future performance.
Source: Morningstar Direct. Data as of December 31, Please see slide 34 for additional disclosures. 8

9. Investing Strategies for the Long Term
So, what are you supposed to do with this information? Especially now, given the economic uncertainty and volatility in the stock market?

10. Focus on the Long Term
Market ups and downs may be unsettling, but try to avoid reacting emotionally.
Selling out of funds that have under-performed may mean “locking in your losses.”
Moving into funds that have outperformed may mean “buying high.”
Instead, use this time to:
Revisit your long-term asset allocation strategy
Rebalance your portfolio to under-performing asset classes
Volatility can unnerve investors who watch the stock market too closely. As you’ve seen, history shows that it’s not advisable to use short-term results to make long-term decisions. Remember that you are saving for retirement – and assuming you have a well-balanced portfolio, you should try to avoid reacting emotionally.
Investment professionals especially advise against transferring out of weaker performing funds into ones that have performed well recently. Why? Because markets are cyclical, so there’s no guarantee that what’s been performing well will continue to do so. Hindsight is always 20/20. But, transferring out of funds after they’ve fallen means you could be locking in your losses. And, transferring into higher performing funds often results in “buying high,” meaning future performance could disappoint. People have likened this to “driving using a rear-view mirror.”
Instead, use this time to review your long-term asset allocation strategy to make sure it still makes sense for you. Rebalance your portfolio if it’s gotten out of whack, but your best bet is to stick with your long term strategy.
Disclosure:
Transamerica Retirement Services does not provide investment advice. Clients and other interested parties must consult and rely solely upon their own independent advisors regarding their particular situation. Transamerica Retirement Services does not act as a fiduciary. 10

11. Risk of Stock Market Loss Over Time
Likelihood of earning money in domestic stocks:
Here’s one reason investment professionals recommend stock fund allocations to long-term investors. History has shown that the longer you have to invest, the more likely it is to earn positive returns.
This slide shows three charts representing three time horizons: 1 year, 10 years, and 20 years. The greenish slices indicate the percentage of time we’d have positive annual returns; the red and purple slices indicate years of negative returns.
If we had invested in domestic stocks during any one year period between 1926 and 2009, we’d have had a 17% chance of earning between 0 and 10% and a 56% chance of earning more than 10%. In other words, 73% of the time, we would have had positive returns. The other 27% of time, we would have had negative returns.
While those odds are not terrible, the picture brightens considerably with longer time horizons. Over 10 year periods since 1926, there’s only been 3% of time when the stock market had a negative return. The other 97% of time, the returns were positive; with 60% having a more than 10% return. At 20 years, you can see all positive returns, with returns of 10% or more outpacing returns of less than 10% by almost a 3 to 1 margin.
No one can predict what the picture will look like going forward. This table puts volatility in perspective. Remember, volatility can be wild in both big up and big down years. The longer the holding period, the less likely investors are to lose money and the more likely investors are to earn returns closer to the long-term average.
Disclosures:
Transamerica Retirement Services does not provide investment advice. Clients and other interested parties must consult and rely solely upon their own independent advisors regarding their particular situation. Transamerica Retirement Services does not act as a fiduciary.
One cannot invest directly in an index. An index is unmanaged and does not take into account the fees and expenses associated with an actively managed fund, so performance may differ. Past performance is not a guarantee of future performance.
Earned less than -10% annually
Earned between -10% and 0% annually
Earned between 0% and 10% annually
Earned more than 10% annually
Source: Morningstar Direct. Period covered is from December 31, 1926 to December 31, Please see slide 34 for additional disclosures. 11

12. Diversification Across Asset Classes
Here’s the basic case for diversifying: Mixing your portfolio makes you less dependent on the performance and risk of any single asset class. Effective diversification requires combining assets that behave differently under various economic or market conditions. Investing in assets that have dissimilar return behavior may insulate your portfolio from major downswings.
This chart illustrates the calendar year returns of three different portfolios over the last 15 years. The first portfolio was invested 100% in long-term bonds. The second was invested 100% in large-cap stocks. And the third was invested in a mixed portfolio of 50% stocks and 50% bonds. As you can see, over time, the portfolios experience quite a bit of volatility. In 2003, the stock portfolio had a 30% return for that year, while the bond portfolio had around a 5% return for that year. Similarly, the stock portfolio lost almost 40% for 2008, while the bond portfolio gained 5%. Alternatively, a mixed portfolio would have gained approximately 20% in 2003 and would have lost less than 20% in This offsetting investment behavior helped to reduce portfolio volatility, or risk, illustrating the importance of diversification.
Disclosures:
Transamerica Retirement Services does not provide investment advice. Clients and other interested parties must consult and rely solely upon their own independent advisors regarding their particular situation. Transamerica Retirement Services does not act as a fiduciary.
Asset allocation and diversification do not assure or guarantee better performance and cannot eliminate the risk of investment losses.
One cannot invest directly in an index. An index is unmanaged and does not take into account the fees and expenses associated with an actively managed fund, so performance may differ. Past performance is not a guarantee of future performance.
Source: Morningstar Direct. Data as of December 31, Please see slide 35 for additional disclosures. 12

13. Investing Wisely Think about the long term Diversify Rebalance
Be aware of risk
Educate yourself
In summary, during a bear market, like the one we are experiencing now, you may want to invest to achieve a long-term goal rather than to avoid a short-term loss.
Consider holding a mix of stocks, bonds, and cash investments tailored to your objectives, time horizon, tolerance for risk, and financial situation. In a bear market, cash may provide stability, while bonds may offer steady income and may help dampen the swings in stock prices. On the other hand, stocks have historically provided higher long-term returns and better long-term protection against inflation.
Periodically, revisit your portfolio and rebalance, or make adjustments as necessary. Such periodic rebalancing of your portfolio will help to keep your asset allocation in-line with your goals.
Above all, stay educated when it comes to planning for your retirement.
Disclosure:
Transamerica Retirement Services does not provide investment advice. Clients and other interested parties must consult and rely solely upon their own independent advisors regarding their particular situation. Transamerica Retirement Services does not act as a fiduciary. 13

14. The Transamerica Difference
Convenient services help you manage your account:
Automated Services:
TransDirect® (800)
Through the mail:
Quarterly statements and newsletters
[Speaker Notes: This slide for TAE/CSC.]
Because your employer selected Transamerica Retirement Services to provide services to your retirement plan, you have ready access to the many tools and resources that Transamerica offers to help you build
and maintain your Plan.
First of all, you always have convenient, 24/7 access to your account – by calling Transamerica or visiting us on the Web at You can monitor your account and adjust your investment strategy as your needs change over time. You can also sign up online for automatic rebalancing of your account.
We send quarterly statements detailing account activity for the period. And, you can also work one-on-one with our expert Participant Counselors – at no cost to you – who can help you design an investment strategy that suits you best.
How many of you, by show of hands, have called Transamerica, or logged on to our Web site, I encourage you to call or log on with any questions that you may have about the plan or your investment options.
Once you are enrolled, Transamerica Retirement Services provides convenient access to your account. You can contact us over the phone at (800) 401-TRAN (8726), or by visiting Transamerica Retirement Services online on the Web at
On the Web: Transamerica Retirement Services
Online –
One-on-one: Service Specialist (800) , available 8 a.m. to 8 p.m., Monday through Friday, Eastern Time. 14

15. The Transamerica Difference
Convenient services help you manage your account:
Automated Services:
TransDirect® (888)
Through the mail:
Quarterly statements and newsletters
[Speaker Notes: This slide for NAV at CSC.]
Because your employer selected Transamerica Retirement Services to provide services to your retirement plan, you have ready access to the many tools and resources that Transamerica offers to help you build
and maintain your Plan.
First of all, you always have convenient, 24/7 access to your account – by calling Transamerica or visiting us on the Web at You can monitor your account and adjust your investment strategy as your needs change over time. You can also sign up online for automatic rebalancing of your account.
We send quarterly statements detailing account activity for the period. And, you can also work one-on-one with our expert Participant Counselors – at no cost to you – who can help you design an investment strategy that suits you best.
How many of you, by show of hands, have called Transamerica, or logged on to our Web site, I encourage you to call or log on with any questions that you may have about the plan or your investment options.
Once you are enrolled, Transamerica Retirement Services provides convenient access to your account. You can contact us over the phone at (888) 637-TRAN (8726), or by visiting Transamerica Retirement Services online on the Web at
On the Web: Transamerica Retirement Services
Online –
One-on-one: Service Specialist (888) , available 8 a.m. to 8 p.m., Monday through Friday, Eastern Time. 15

16. The Transamerica Difference
Convenient services help you manage your account:
Automated Services:
TransDirect® (877)
Through the mail:
Quarterly statements and newsletters
[Speaker Notes: This slide for DIA.]
Because your employer selected Transamerica Retirement Services to provide services to your retirement plan, you have ready access to the many tools and resources that Transamerica offers to help you build
and maintain your Plan.
First of all, you always have convenient, 24/7 access to your account – by calling Transamerica or visiting us on the Web at You can monitor your account and adjust your investment strategy as your needs change over time. You can also sign up online for automatic rebalancing of your account.
We send quarterly statements detailing account activity, for the period. And, you can also work one-on-one with our expert Participant Counselors – at no cost to you – who can help you design an investment strategy that suits you best.
How many of you, by show of hands, have called Transamerica, or logged on to our Web site, I encourage you to call or log on with any questions that you may have about the plan or your investment options.
Once you are enrolled, Transamerica Retirement Services provides convenient access to your account. You can contact us over the phone at (877) , or by visiting Transamerica Retirement Services online on the Web at
On the Web: Transamerica Retirement Services
Online –
One-on-one: Service Specialist (877) available 8 a.m. to 8 p.m., Monday through Friday, Eastern Time. 16

17. Your Successful Retirement is our Mutual Goal
Experience – Over 70 years1 helping participants with retirement planning
Sole focus on retirement plans
Tools and guidance for all life-stages
Passed rigorous due diligence by your employer to be your plan provider
Servicing billions of dollars in retirement plan assets
Transamerica is dedicated to helping you save for retirement. With over $16.5 billion in plan assets under management, Transamerica’s focus is on retirement planning. In fact we have over 70 years of experience in helping participants just like you, plan for the future. We’re here to provide assistance, guidance and SIMPLE Solutions for your retirement.
Your successful retirement is above all… our mutual goal!
1Transamerica Retirement Services (“Transamerica”), a marketing unit of Transamerica Financial Life Insurance Company (“TFLIC”), 4 Manhattanville Road, Purchase, NY 10577, and Transamerica Life Insurance Company (“TLIC”), 4333 Edgewood Road NE, Cedar Rapids, Iowa 52499, and other TFLIC and TLIC affiliates, specializes in the promotion of retirement plan products and services. TFLIC is not authorized and does not do business in the following jurisdictions: Guam, Puerto Rico, and the U.S. Virgin Islands. TLIC is not authorized in New York and does not do business in New York. 17

18. Disclosures
Transamerica Retirement Services (“Transamerica”), a marketing unit of Transamerica Financial Life Insurance Company (“TFLIC”), 4 Manhattanville Road, Purchase, NY 10577, and Transamerica Life Insurance Company (“TLIC”), 4333 Edgewood Road NE, Cedar Rapids, Iowa 52499, and other TFLIC and TLIC affiliates, specializes in the promotion of retirement plan products and services. TFLIC is not authorized and does not do business in the following jurisdictions: Guam, Puerto Rico, and the U.S. Virgin Islands. TLIC is not authorized in New York and does not do business in New York.
Transamerica Retirement Services and its representatives cannot give investment, ERISA, tax or legal advice. This material is provided for informational purposes only based on our understanding of material provided and should not be construed as ERISA, tax or legal advice. Clients and other interested parties must consult and rely solely upon their own independent advisors regarding their particular situation and the concepts presented here. Although care has been taken in preparing this material and presenting it accurately, Transamerica Retirement Services disclaims any express or implied warranty as to the accuracy of any material contained herein and any liability with respect to it.
Transamerica Financial Life Insurance Company and Transamerica Life Insurance Company are affiliates of Diversified Investors Securities Corp.
Transamerica Retirement Services does not provide investment advice. Clients and other interested parties must consult and rely solely upon their own independent advisors regarding their particular situation. Transamerica Retirement Services does not act as a fiduciary. 18

19. Disclosures 19 Slide 2: Capital Markets Review – 4th Quarter 2009
Source: Morningstar Direct. Data as of December 31, The Merrill Lynch U.S. High Yield Master II Index is a broad-based index consisting of all U.S. dollar-denominated high-yield bonds with a minimum outstanding amount of $100 and maturing over one year. The Morgan Stanley Capital International (MSCI) EAFE Index (Europe, Australasia, Far East) is a free float-adjusted market capitalization index that is designed to measure the equity market performance of developed markets, excluding the US & Canada. The Morgan Stanley Capital International (MSCI) Emerging Markets Index is a free float-adjusted market capitalization index that is designed to measure equity market performance of emerging markets. Transamerica Retirement Services is not affiliated with Morningstar Direct, Merrill Lynch, or Morgan Stanley Capital International.
One cannot invest directly in an index. An index is unmanaged and does not take into account the fees and expenses associated with an actively managed fund, so performance may differ. Past performance is not a guarantee of future performance.
Slide 5: Stock Index Returns
Source: Morningstar Direct. Data as of December 31, Indices used to represent each investment style: Large Cap, S&P 500 Index; Mid Cap, Russell Mid Cap Index; Small Cap, Russell 2000 Index; International, MSCI World Ex US Index. Standard & Poor’s S&P 500 stock market index is comprised of 500 leading companies in leading industries of the U.S. economy. The Russell Midcap Index is a weighted index representing the smallest 800 companies in the Russell 1000 Index. The average Russell Midcap Index member has a market cap of $8 billion to $10 billion, with a median value of $4 billion to $5 billion. The Russell 2000® Index is comprised of 2,000 small company stocks. The Morgan Stanley Capital International (MSCI) World Ex-U.S. Index is a free float-adjusted, market capitalization index that is designed to measure international market equity performance. Transamerica Retirement Services is not affiliated with Morningstar Direct, Standard and Poor's, Russell Investments, or Morgan Stanley Capital International. 19

20. Disclosures 20 Slide 6: Annual Stock Returns vs. Long-Term Average
Source: Morningstar Direct. Data as of December 31, Stocks represented by the S&P 500 Index. The long-term performance quoted for stocks is based on the 20-year average annual return of the S&P 500 Index from The annual stock market returns shown are represented by the S&P 500 Index and are for the 20-year period from Standard & Poor’s S&P 500 stock market index is comprised of 500 leading companies in leading industries of the U.S. economy. Transamerica Retirement Services is not affiliated with Morningstar Direct or Standard & Poor's.
One cannot invest directly in an index. An index is unmanaged and does not take into account the fees and expenses associated with an actively managed fund, so performance may differ. Past performance is not a guarantee of future performance.
Slide 7: Bond Index Returns
Source: Morningstar Direct. Data as of December 31, Total Bond, BC Aggregate Bond Index; Governments, BC Intermediate Government Bond Index; Corporates, BC 1-5 Year Credit Index; High Yield, Credit Suisse High Yield Index. Barclays Capital Aggregate Bond Index is comprised of securities from Barclays Capital Government/Corporate Bond Index, Mortgage-Backed Securities Index, and the Asset-Backed Securities Index. The Barclays Capital Intermediate Government Bond Index is comprised of all bonds covered by the Barclays Capital Government Bond Index with maturities between one and 9.99 years. The Credit Suisse First Boston Global High Yield Index is comprised of issues rated BB and below by S&P or Moody’s with par amounts greater than $75 million. The Barclays Capital 1-5 Year Credit Index is an unmanaged index of dollar-denominated, non-convertible U.S. corporate fixed income securities. Transamerica Retirement Services is not affiliated with Morningstar Direct, Barclays Capital , or Credit Suisse First Boston. 20

21. Disclosures
Slide 8: Annual Bond Index Returns vs. Long-Term Average
Source: Morningstar Direct. Data as of December 31, The long-term performance quoted for bonds is based on the 20-year average annual return of the Barclays Capital Aggregate Bond Index from The annual bond market returns shown are represented by the Barclays Capital Aggregate Bond Index and are for the 20-year period from Barclays Capital Aggregate Bond Index is comprised of securities from Barclays Capital Government/Corporate Bond Index, Mortgage-Backed Securities Index, and the Asset-Backed Securities Index. Transamerica Retirement Services is not affiliated with Morningstar Direct or Barclays Capital.
One cannot invest directly in an index. An index is unmanaged and does not take into account the fees and expenses associated with an actively managed fund, so performance may differ. Past performance is not a guarantee of future performance.
Slide 11: Risk of Stock Market Loss Over Time
Source: Morningstar Direct. Data represented covers period from December 31,1926 to December 31, Stocks are represented by the S&P 500. Transamerica Retirement Services is not affiliated with Morningstar Direct or Standard and Poor’s. 21

22. Disclosures 22 Slide 12: Diversification Across Asset Classes
Source: Morningstar Direct. Data as of December 31, Bonds represented by Barclays Capital Aggregate Bond Index. Stocks represented by Russell 1000 Index. Barclays Capital Aggregate Bond Index is comprised of securities from Barclays Capital Government/Corporate Bond Index, Mortgage-Backed Securities Index, and the Asset-Backed Securities Index. The Russell 1000® Index is comprised of the largest 1,000 stock companies in the Russell 3000® Index. Transamerica Retirement Services is not affiliated with Morningstar Direct, Barclays Capital , or Russell Investments.
One cannot invest directly in an index. An index is unmanaged and does not take into account the fees and expenses associated with an actively managed fund, so performance may differ. Past performance is not a guarantee of future performance. 22

23. The 4th Quarter In Review
THE ECONOMY
AND THE MARKET
The 4th Quarter In Review
Before I close, I’d be happy to answer any questions you may have…
Assuming there are no more questions, I’d like to thank you for taking the time today to learn more about the basics of investing and the resources available to help you.
Transamerica is dedicated to helping you save and invest wisely, as well as provide SIMPLE Solutions for your retirement.
TRS 3413ECON-0110
TRS
© 2010 Transamerica Corporation. All rights reserved.
FOR EDUCATIONAL PURPOSES ONLY.