MassMutual Adds $240 Million Taft-Hartley Retirement Plan
SPRINGFIELD, Mass., Oct. 22, 2013 /PRNewswire/ -- MassMutual's Retirement Services Division has been selected by the International Brotherhood of Electrical Workers Local No. 369 (Local 369) as the new provider for its Taft-Hartley retirement plan. The plan has approximately $240 million in assets under management and more than 2,800 members. Robert A. Liberto, senior vice president with Segal Rogerscasey, assisted Local 369 with the search for a new retirement plan provider.
Chartered more than 100 years ago, Local 369 represents workers in all aspects of the electrical industry, including construction, utility, maintenance, manufacturing, broadcasting and more.
"MassMutual's commitment to coordinating education meetings and one-on-one sessions with members at the union hall, Lexington office and NECA Louisville chapter office has and will make a big difference for the success our members," says Charlie P. Essex, business manager and financial secretary with Local 369. "Due to the tough economy many Americans are forced to take a job after retirement. Through the leadership of MassMutual, Local 369 members will be able to retire and stay retired!"
"MassMutual is pleased to welcome Local 369 as a valued new Taft-Hartley retirement services client, and we look forward to helping its hard-working members plan and save for retirement," says Scott Buffington, national sales manager for MassMutual's Retirement Services Division. "We are committed to delivering value and service excellence to the Trustees and members of Local 369," adds Buffington.
MassMutual has been serving the Taft-Hartley retirement plan market for more than 40 years. For more information about MassMutual's Taft-Hartley retirement services, please contact your retirement advisor or Doug DeNigris, national Taft-Hartley practice leader at MassMutual, (978) 430-4602 or (866) 444-2601.
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 consistently 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) 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.
MassMutual's Retirement Services Division has been serving retirement plans for more than 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 3 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.
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Contact: Jessica Barry
SOURCE MassMutual Retirement Services