MassMutual Achieves Best-in-Class Satisfaction and Loyalty Scores in Areas Critical to Retention

SPRINGFIELD, Mass., Nov. 15, 2011 /PRNewswire/ -- According to customer survey data through the first half of 2011, MassMutual's Retirement Services Division continues its positive trajectory in sponsor satisfaction across its defined contribution business. The latest results reflect year-over-year improvement in areas critical to sponsor retention and include best-in-class sponsor satisfaction ratings in key categories like relationship and account management as well as accuracy of plan level financial reports.

Overall satisfaction as reported by plan sponsors on MassMutual's platform was at its highest level since the survey process began in 2003 and has shown continued year-over-year improvement in key areas such as overall impressions, relationship manager and account manager, plan sponsor administrative services, participant statements, participant and sponsor websites, call center representatives and voice response system, investment options and performance, and employee education services.

MassMutual earned its highest sponsor satisfaction ratings for "overall satisfaction with relationship manager" and "is a financially strong company." MassMutual also reached new high overall sponsor satisfaction scores from its nonprofit and Taft-Hartley clients.

Through mid-year, a total of 830 plan sponsors completed the survey conducted by Chatham Partners. Questions were based on a 7-point scale in which "7" represents the highest score of "very satisfied" and "1" represents "very dissatisfied." A Chatham "best in class" score means 85% or more of clients rated MassMutual a "6" or a "7" for the category.

"MassMutual has achieved increasingly higher levels of overall customer satisfaction since 2008 across all service models. This trend demonstrates that MassMutual is not just listening to its customers, but is taking a responsive approach based upon feedback from their clients," says Joshua Dietch, managing director, Chatham Partners. "MassMutual's clients consistently cited best-in-class overall satisfaction with their relationship manager, account manager and processing of employee transactions which are categories that contribute significantly to high sponsor satisfaction and retention," adds Dietch.

Employee education meetings were consistently cited as a best-in-class strength across all plan sizes and in all defined contribution markets including nonprofit and Taft-Hartley. MassMutual has achieved record high sales and sponsor retention levels since 2008 and also recently earned the #1 rating in overall advisor satisfaction in Boston Research Group's 2011 Defined Contribution Plan (DCP) Retirement Advisor Satisfaction and Loyalty Study.

"World-class customer service is the responsibility of every associate here at MassMutual," says Elaine Sarsynski, executive vice president of MassMutual's Retirement Services Division and chairman and CEO of MassMutual International LLC. "Our mutual structure and financial prowess enable MassMutual to reinvest in the tools, technology and resources that are most meaningful to our customers. We conduct this survey on an uninterrupted basis so we have the most up-to-date information on the customer experience," adds Sarsynski. "This is not a 'point in time' survey but a picture of the trends year-over-year. We believe the data we extract from our ongoing client satisfaction survey program – and our willingness to respond to the information – are significant reasons why MassMutual continues to achieve new record levels of sales and customer satisfaction year-over-year."

For more information about MassMutual Retirement Services, please contact your retirement plan advisor or call MassMutual at (888) 626-4911.

About MassMutual

MassMutual's Retirement Services Division has been serving retirement plans for 65 years. It offers a full range of products and services for corporate, union, nonprofit and governmental employers' defined benefit, defined contribution and nonqualified deferred compensation plans. It serves approximately 1.3 million participants.

Founded in 1851, MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyholders. The company has a long history of financial strength and strong performance, and although dividends are not guaranteed, MassMutual has paid dividends to eligible participating policyholders every year since the 1860s. With whole life insurance as its foundation, MassMutual provides products to help meet the financial needs of clients, such as life insurance, disability income insurance, long term care insurance, retirement/401(k) plan services, and annuities. In addition, the company's strong and growing network of financial professionals helps clients make good financial decisions for the long-term.

MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. MassMutual is headquartered in Springfield, Massachusetts and its major affiliates include: Babson Capital Management LLC; Baring Asset Management Limited; Cornerstone Real Estate Advisers LLC; The First Mercantile Trust Company; MassMutual International LLC; MML Investors Services, LLC, Member FINRA and SIPC; OppenheimerFunds, Inc.; and The MassMutual Trust Company, FSB.

For more information, visit www.massmutual.com or "Like" MassMutual on Facebook and Facebook.com/retiresmart.

About Chatham Partners

Chatham Partners is a market research and consulting firm specializing in assisting clients in maximizing the value of past, current and future customer and intermediary seller relationships through customer satisfaction, win/loss, and intermediary analysis. Chatham Partners, Inc. was founded in 1991 and is based in Waltham, Massachusetts. For additional information, please call Joshua Dietch, Managing Director of Chatham Partners, at 781-314-0600 or visit www.chathamllc.com,

Copyright © 2011 Massachusetts Mutual Life Insurance Company (MassMutual) and affiliates, Springfield, MA 01111-0001.
All rights reserved.

Contact: Lisa Reilly
413-744-0589
[email protected]

SOURCE MassMutual Retirement Services

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