MassMutual Enhances Target Date and Lifestyle Investment Options for Retirement Plan Services Clients

SPRINGFIELD, Mass., July 27, 2011 /PRNewswire/ -- MassMutual's Retirement Services Division has enhanced its investment offerings in the popular target date (lifecycle) and lifestyle (risk aware) categories to better serve retirement plan market needs. As part of the initiative, MassMutual has renamed its Select Destination (target date) and Journey (lifestyle) fund series to capture the brand focus of its overall MassMutual RetireSMART(SM) participant platform.

MassMutual has expanded its Journey series investment options, which were formerly only available as separate investment accounts ("SIAs") through a group annuity contract, with newly created RetireSMART mutual funds that employ the same investment strategy. The new RetireSMART lifestyle series is being offered for the first time as a mutual fund solution for registered plans in addition to the SIAs that have long been available for group annuity contract plans.

Portfolios within both the target date and lifestyle series utilize a "fund-of-funds" approach that combines numerous mutual funds offered by MassMutual into professionally managed strategies, which consider an investor's expected retirement date (RetireSMART target date) or an investor's comfort with risk (RetireSMART lifestyle).

The new investment offerings, implemented in June, are designed to position MassMutual's target date and lifestyle funds more competitively and make them available to more retirement investors in a wider range of plans. MassMutual's highly experienced portfolio management team for both fund groups remains unchanged.

"These enhancements give MassMutual an even more compelling and competitively priced offering in a category critical to retirement investors and to our continued strong momentum within the retirement services industry," says Eric Wietsma, senior vice president, Investment Services, MassMutual's Retirement Services Division.

"These target date and lifestyle funds embody our management approach, while the RetireSMART name serves as the overarching brand, both of which support MassMutual's dual focus on retirement plan health and solidly preparing plan participants for retirement," says Mike Eldredge, vice president, Investment Management, MassMutual's Retirement Services Division.

Retirement plan participants may access a prospectus and summary prospectus on MassMutual's participant website, http://www.retiresmart.com. For more information about MassMutual Retirement Services, please contact your retirement plan advisor or call MassMutual at 1-866-444-2601.

The year in the target date option's name refers to the approximate year an investor would plan to retire and likely would stop making new contributions to the investment option. Target date investment options are designed for participants who plan to withdraw the value of their accounts gradually after retirement. Each of these options follows its own asset allocation path ("glide path") to progressively reduce its equity exposure and become more conservative over time. Investments in these options are not guaranteed and investors may experience losses, including losses near, at, or after the target date. Additionally, there is no guarantee that the options will provide adequate income at and through retirement.

Generally target retirement date (lifecycle) investment options are designed to be held beyond the presumed retirement date to offer a continuing investment option for the investor in retirement. However, investors may choose a date other than their presumed retirement date to be more conservative or aggressive depending on their own risk tolerance.

Target date options discussed here do not reach their most conservative allocation until after their target date. Investors should consider their own personal risk tolerance, circumstances and financial situation. These options should not be selected solely on a single factor such as age or retirement date. Please consult the prospectus (if applicable) pertaining to the options to determine if their glide path is consistent with your long-term financial plan. Target retirement date investment options' stated asset allocation may be subject to change.

Investors should consider an investment option's objectives, risks, fees and expenses carefully before investing. This and other information can be found in the applicable prospectuses or summary prospectuses for the investment options listed, which are available from MassMutual by calling 1-888-309-3539. Please read them carefully before investing.

Principal Underwriter: MML Distributors, LLC, 1295 State Street, Springfield, MA 01111.

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) 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.

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

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED