MassMutual Teams Up with Gen Y Money Coach Farnoosh Torabi to Help Motivate Younger Retirement Plan Participants to Save

SPRINGFIELD, Mass., Jan. 26, 2011 /PRNewswire/ -- MassMutual's Retirement Services Division has joined forces with Farnoosh Torabi, independent Generation Y money coach, multiple best-selling author, and personal finance journalist, to help connect with younger plan participants and inspire them to take a more active role in planning and saving for retirement.

While the alliance is meant to benefit participants of all ages in retirement plans administered by MassMutual, the company hopes to motivate Gen Y in particular to understand the value of starting early to plan and save for retirement. Torabi's financial expertise has been featured in People, The Wall Street Journal, and The New York Times and she has appeared on NBC's Today Show, MSNBC, CNN, and Fox News.

"I'm excited to work with MassMutual to help bring a greater awareness to the importance of saving early for retirement. I hope to help participants, especially those just starting out, make smarter decisions for saving and planning," says Torabi. "Through online seminars, online video, social media interactions, and live speaking events, we hope to get participants on a solid path towards retirement readiness," she adds.

MassMutual created this program to address the findings of its own participant research as well as industry data. A recent industry analysis by Financial Engines(1) – an independent investment adviser – indicates that 53% of retirement plan participants under age 30 do not save enough to receive the full employer match.

"At MassMutual we're working hard to make sure participants have the retirement planning tools they need at every age and every stage," says E. Heather Smiley, chief marketing officer for MassMutual's Retirement Services Division. "Our alliance with Farnoosh Torabi is just another resource for our participants and will focus on topics such as the importance of starting early, and how to manage money appropriately to achieve their retirement goals. As a Gen Y money coach, we're confident she will help us connect with more of our younger participants who are just beginning to plan for retirement," says Smiley.

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

(1) 2010 National 401(k) Evaluation Report, 2010. Financial Engines. 5 Oct. 2010.

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 1.2 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 massmutual.com.

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

All rights reserved.

SOURCE MassMutual Retirement Services

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