MassMutual Receives Record High 2009 Satisfaction and Loyalty Scores from Full-Service Retirement Services Clients

SPRINGFIELD, Mass., May 4 /PRNewswire/ -- According to new customer survey data, the Retirement Services Division of MassMutual Financial Group achieved new record-high satisfaction levels for 2009 across the largest drivers of client satisfaction including administrative services and employee education.

The data is derived from MassMutual's full-year 2009 proprietary customer satisfaction survey, conducted by Chatham Partners, of more than 400 MassMutual plans across all plan types. Questions were rated on a 7-point scale in which "7" represents the highest score of "very satisfied" and "1" represents "very dissatisfied." More than 88% of clients rated MassMutual a "6" or "7" for "processing employee transactions," and the percentage of clients who believe MassMutual's service has remained steady or improved is at an all-time high level of 94%.

Most importantly, MassMutual earned its highest-ever scores in the areas that statistical analysis has shown impacts defined contribution clients' overall satisfaction including:

• Plan sponsor administrative services, by far the largest driver of client satisfaction, up 10 points
• Employee education up 9 points
• Flexibility in meeting clients' needs up 9 points
• Relationship management up 7 points
• Benefit administration for Total Retirement Services (TRS) clients up 7 points

MassMutual earned its highest "overall impressions" ratings in the areas of "data protection," "financial strength," and "offering a full range of services." Client loyalty and retention are also at their all-time highest levels.

Plan sponsors under MassMutual's TPA service model gave their highest satisfaction scores for "services provided by the TPA," "overall satisfaction with the advisor," "processing employee contributions," "education/enrollment meetings," "participant Web site," and "participant statements."

Significantly, 100% of MassMutual's Taft-Hartley clients rated MassMutual a "6" or "7" in "offers good value for the money," "would highly recommend to colleagues," "personnel," "processing of employee transactions," and "investment options and performance." MassMutual has been serving the Taft-Hartley market for more than 30 years and continues to commit significant resources to serving its Taft-Hartley clients and plan members.

"The results suggest that MassMutual is clearly listening to its customers, and the resulting all-time-high customer satisfaction scores are indicative of their success in this regard," says Joshua Dietch, managing director, Chatham Partners.

"Here at MassMutual, we believe customer satisfaction is the responsibility of every employee," says Elaine Sarsynski, executive vice president and head of MassMutual's Retirement Services Division. "Whether you are a plan sponsor, a retirement plan advisor, a TPA, or a participant, MassMutual wants to make it easy for you to do business with us. Our customers are showing their appreciation for MassMutual's commitment to continuous improvement with record high satisfaction and loyalty scores," adds Sarsynski. "Our strong client retention levels affirm these results and we couldn't be more pleased."

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 more than 60 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 one 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, Inc., member FINRA and SIPC; OppenheimerFunds, Inc.; and The MassMutual Trust Company, FSB.

For more information, visit massmutual.com.

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,

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