MassMutual Retirement Services Welcomes Paradigm to Its Growing Client Roster
SPRINGFIELD, Mass., Sept. 11, 2012 /PRNewswire/ -- MassMutual's Retirement Services Division has been selected by Paradigm™ as the new recordkeeper for the company's 401(k) retirement plan, today serving approximately 250 U.S.-based participants. Assets added to MassMutual's platform from the company's retirement plan total more than $18 million.
Paradigm is the largest multi-national software company exclusively focused on the delivery of analytical and information management solutions for the discovery and extraction of subsurface natural resources. Paradigm technologies and workflows enable customers to create more value from data, better understand complex geology, better identify optimal drilling locations, assess risk and maximize asset value.
"MassMutual stood out as a top candidate following our thorough due diligence process, due to their strong focus and innovative tools aimed to help increase plan health and participant retirement readiness, both key drivers in the industry today," says Gary Jurney, CLU, ChFC, AIF® and president with Kainos Partners, Inc., who assisted with the search. "The transition to MassMutual was seamless and our transition manager was outstanding. The decision to transition Paradigm's plan to MassMutual is a win-win for all parties and we look forward to increasing the value of the company's 401(k) plan to each employee," adds Jurney.
"We understand that transitioning a retirement plan to another provider is an important decision and one that directly impacts our employees," says Elaine Carrasco, human resources business partner with Paradigm. "We were impressed by the dedication of the MassMutual team to helping participants reach their retirement goals, and we look forward to utilizing MassMutual's wide array of plan health and retirement readiness solutions to further inspire and engage Paradigm's employees," adds Carrasco.
"MassMutual is happy to welcome Paradigm as a valued new retirement services client," says Elaine Sarsynski, executive vice president, MassMutual's Retirement Services Division and chairman and CEO of MassMutual International LLC. "We look forward to helping Paradigm simplify their overall retirement plan administration while helping each employee more effectively plan and save for retirement," adds Sarsynski.
For more information about MassMutual Retirement Services, please contact your retirement plan advisor or call MassMutual at 1-866-444-2601.
About MassMutual
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.
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'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 1.6 million participants.
For more information, visit www.massmutual.com or find MassMutual on Facebook, Twitter, LinkedIn, YouTube and Google+. For information regarding MassMutual's Retirement Services Division, you may also visit massmutual.com/retire or find us on Facebook.com/retiresmart and YouTube.com/retiresmart.
About Paradigm
Paradigm is an upstream oil and gas leader in digital subsurface asset management and software innovation. Its analytical and information management solutions extend across the most critical exploration and production disciplines from seismic processing and imaging, interpretation, modeling to reservoir characterization, and well planning and drilling. Serving the oil and gas, and mining industries since 1987, Paradigm operates globally through 30 customer service and technology facilities located in 25 countries. For more information, visit www.pdgm.com.
Copyright ©2012 Massachusetts Mutual Life Insurance Company (MassMutual) and affiliates, Springfield, MA 01111-0001. All rights reserved.
Contact: Jessica Barry
413-744-8334
[email protected]
SOURCE MassMutual Retirement Services
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