Social Security Seminar Makes an Impact on MassMutual's Participants

SPRINGFIELD, Mass., Aug. 5 /PRNewswire/ -- MassMutual Retirement Services' participant education tools are growing in popularity as demonstrated by participation in the latest web-based RetireSmart(SM) Academy participant presentation, "How Social Security Will Impact Your Retirement."

The July 20 event was this year's second national educational seminar that MassMutual has hosted for both participants and plan sponsors. Attendance more than tripled from previous online seminars -- representing clients from 43 states.

MassMutual's Retirement Services Division enlisted Daniel Moraski, public affairs specialist from the Social Security Administration, to help participants better understand how Social Security benefits are calculated, determine Social Security benefit projections, and provide an overview of Medicare coverage and eligibility. Following the presentation, Mr. Moraski answered live questions submitted from participants.

"Our goal is for MassMutual's retirement planning tools, such as the RetireSmart Academy website, to better prepare participants and help them gain a deeper understanding of their retirement needs for a successful, seamless transition into retirement," says E. Heather Smiley, chief marketing officer for MassMutual's Retirement Services Division. "We want to ensure our participants have the education and tools they need to plan a successful path to retirement using their personal savings, Social Security and, of course, their employer-sponsored retirement plan," she says.

At the close of the "How Social Security Will Impact Your Retirement" seminar, attendees took an online survey and indicated that they would take the following actions as a result:

74% Visit the Social Security Administration website

54% Try a calculator on MassMutual's participant website

39% Visit MassMutual's RetireSmart Academy website

34% Review their investment allocation

18% Increase their saving rate

12% Request contact by a MassMutual representative

10% Contact a financial planner for assistance

7% Consolidate assets

The seminar was recorded for participants and plan sponsors who were unable to attend the original presentation. The recorded session can be accessed through a link on MassMutual's participant and sponsor websites. 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.

Copyright © 2010 Massachusetts Mutual Life Insurance Company (MassMutual) and affiliates, Springfield, MA 01111-0001. All rights reserved.

SOURCE MassMutual Retirement Services

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