MassMutual Retirement Services Simplifies Plan Solutions To Help Advisors, TPAs Win in $5 Million and Under Market

SPRINGFIELD, Mass., April 29 /PRNewswire/ -- MassMutual Retirement Services today announced a number of enhancements to make it as easy as possible for advisors and TPAs to capture and retain retirement plans with up to $5 million in assets.

According to Eric Wietsma, senior vice president and head of investments and product development for MassMutual's Retirement Services Division, the company has implemented product, pricing and process improvements designed to accomplish several important goals for advisors and TPAs in the $5 million and under market (fully bundled and TPA service models).

• Make the product easy to understand and explain to prospects to enable a more efficient sales process
• Offer straightforward and flexible pricing up front with a "quick quote" system based on a simple, three-step process for faster turnaround
• Banded pricing enables pricing reductions as plan grows

"Our goal is to make it as easy as possible for advisors and TPAs to be successful and profitable in the under $5 million market," says Hugh O'Toole, senior vice president and head of sales and client management for MassMutual's Retirement Services Division. "Our streamlined sales process and product design make it easier to explain and quote more plans in less time, allowing for more sales opportunities, better plan retention and the opportunity for more profitable growth."

MassMutual's enhanced product for the $5 million and under market offers a broad selection of group annuity and registered mutual fund investment options for 401(k) and 403(b) plans including stable value and multiple target date options from a variety of fund families on MassMutual's Smart Architecture(SM) investment platform. Investments are backed by MassMutual's fiduciary warranty. Valued-added services include MassMutual's RetireSmart(SM) participant education tools such as RetireSmart(SM) Academy and automated participant education campaigns among others.

MassMutual has developed a suite of materials to assist retirement plan advisors and TPAs in presenting the product to plan sponsors and supporting them on an ongoing basis. For more information, please contact your MassMutual sales representative or call MassMutual at 1-866-444-2601, www.massmutual.com/retire.

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.

SOURCE MassMutual Retirement Services

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