2014

MassMutual Retirement Services Enhances RetireSmart(SM) Ready Tool: Now Offering Retirement Guidance for Life Firm Invites Retirement Plan Professionals and Sponsors to April 23 Informational Webcast

SPRINGFIELD, Mass., April 17, 2013 /PRNewswire/ -- MassMutual's Retirement Services Division is gearing up to launch the newest addition to its innovative suite of plan health and retirement readiness resources – the Retirement Income Strategy module. Beginning late April, plan participants age 50 years or older on MassMutual's platform will gain access to the Retirement Income Strategy module simply by logging in to their retirement plan account at www.retiresmart.com.

The module, developed as an extension to the firm's award-winning RetireSmartSM Ready tool, provides plan participants age 50 years or older with financial guidance for a lifetime. It combines participant preferences and objectives with proven financial solutions to help pre-retirees forecast and create an optimal retirement income plan by assessing the following key areas:

  • Guaranteed Income – How much money will they have annually in retirement based on their current savings?
  • Liquidity Needs – Will they have enough money for unforeseen expenses?
  • Income Growth – Will their accumulated assets last a lifetime?
  • Estate Value – Are they planning to leave any money to loved ones?

MassMutual's Retirement Services Division will unveil its new Retirement Income Strategy module via a live webcast for retirement plan professionals and sponsors entitled "DB-Like Security from a DC Plan" on Tuesday, April 23 at 12 p.m. ET. The live one-hour webcast will be moderated by Charles Ruffel, founder and director of PlanSponsor magazine, and presented by Tina Wilson, CFA, AIF, vice president of product development for MassMutual's Retirement Services Division.

The webcast will explore how a defined contribution (DC) plan can serve as the basis of a monthly retirement income stream similar to a defined benefit (DB) plan with minimal plan changes and a customized strategy. Specifically, Mr. Ruffel and Ms. Wilson will encourage advisors and plan sponsors to help participants develop a pre-retirement strategy, define an income goal and make the right asset allocations. The presentation will conclude with choices to make at retirement to ensure that accumulated assets last a lifetime. A live Q&A session will be conducted at the close of the session. There is no fee to attend but advance registration is required. Retirement plan professionals and plan sponsors may register online.

"MassMutual is pleased to expand our RetireSmart Ready tool to cover the entire participant lifecycle from hire through retirement," says Wilson. "During their working years, participants need more than a simple accumulation plan. They need a retirement income goal that's specific to their needs, their chances of reaching that goal and the steps to take to help improve their chances. As they get closer to retirement, participants need a customized approach to help ensure that they will not outlive their financial resources. This comprehensive tool helps make retirement readiness less of a mystery and financial goals more of a reality," adds Wilson.

"With the burden of funding their retirement squarely on participants, the RetireSmart Income Strategy module can help replace a participant's retirement concerns with clarity and confidence and provide a long-term plan," says Jed Collins, senior vice president of product development for MassMutual's Retirement Services Division. "The RetireSmart Income Strategy module isn't another product or DC investment menu choice. It's a life plan strategy aimed to generate a guaranteed level of retirement income that plan participants won't outlive. MassMutual participants who are age 50 or older will now have one more valuable resource to help them retire on their own terms," adds Collins.

For more information about MassMutual's Retirement Services Division, please contact your retirement plan professional or call MassMutual at 1-866-444-2601.

About MassMutual
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.

Copyright ©2013 Massachusetts Mutual Life Insurance Company (MassMutual) and affiliates, Springfield, MA 01111-0001. All rights reserved.

Contact: Jessica Barry
860-562-5095
jbarry2@massmutual.com

SOURCE MassMutual Retirement Services



RELATED LINKS
http://www.massmutual.com

More by this Source


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

 

PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.