MassMutual to Offer Optional Mesirow Financial Fiduciary Partnership Service

SPRINGFIELD, Mass., Aug. 25, 2011 /PRNewswire/ -- MassMutual's Retirement Services Division is introducing a new Mesirow Financial Fiduciary Partnership Service to retirement plans on the MassMutual platform. The service is being offered as an option to help retirement plan advisors and plan sponsors manage fiduciary risk.

"MassMutual's goal in offering this optional fiduciary service is to help retirement plan advisors achieve fiduciary protection for their clients and their business. Plan sponsors recognize that there's no substitute for the expertise a retirement advisor delivers on their behalf. Having the option of yet another level of due diligence can be very reassuring for both advisors and sponsors," says Hugh O'Toole, senior vice president and head of sales and client management for MassMutual's Retirement Services Division.

In addition to the new Mesirow Fiduciary Partnership Service, MassMutual plans to introduce new investment options that provide additional pricing flexibility for retirement plans with under $5 million in assets. "We expect these enhancements to be extremely well received by advisors and third-party administrators with a strong focus in the under $5 million retirement plan market," adds O'Toole.

Mesirow Financial, headquartered in Chicago, developed the service in response to heightened focus on the role of the retirement plan fiduciary and interest among advisors and plan sponsors in mitigating their risks. Under the program being offered by MassMutual, the Investment Strategies group at Mesirow Financial conducts an extensive independent analysis of investment options available for retirement plans on MassMutual's platform and creates a designated Elite List of investment options that are eligible for coverage under the program. The list includes a broad range of funds in asset classes that Mesirow Financial considers appropriate for long-term retirement investing. The service also has the flexibility to allow plans to add funds that are not part of the Elite List.

"Retirement plan advisors can serve a critical role in the selection and monitoring of investments for their retirement plan clients. The Mesirow Fiduciary Partnership service offers an added layer of due diligence that is performed prior to the selection of the funds for the plan," says Michael Annin, senior managing director of the Investment Strategies Group at Mesirow Financial. "The challenges and liabilities inherent in building and monitoring a retirement plan's investment lineup are an integral part of the overall management of a retirement plan and the role of the retirement advisor. With this service, Mesirow Financial becomes the fiduciary, delivering added peace-of-mind to both advisors and plan sponsors," adds Annin.

MassMutual's Retirement Services Division serves approximately 1.3 million participants. For more information about MassMutual Retirement Services, please call your retirement plan advisor or contact MassMutual at 1-866-444-2601.

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) [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 www.massmutual.com or 'Like" MassMutual on Facebook and Facebook.com/retiresmart.

About Mesirow Financial

Mesirow Financial is a diversified financial services firm headquartered in Chicago. Founded in 1937, it is an independent, employee-owned firm with approximately 1,200 employees in locations across the United States and in London. Mesirow Financial's Investment Management divisions advise on assets of $51 billion, which includes $24.3 billion in currencies and commodities. With expertise in investment management, global markets, insurance services and consulting, Mesirow Financial strives to meet the financial needs of institutions, public sector entities, corporations and individuals. For more information about Mesirow Financial, visit www.mesirowfinancial.com.

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

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