MassMutual Sees Continued Momentum in the Nonprofit Market
SPRINGFIELD, Mass., March 9 /PRNewswire/ -- MassMutual's Retirement Services Division has been selected by the Thames Valley Council for Community Action, Inc. (TVCCA) as the new provider for the organization's $5.2 million 401(a) and $4.4 million 403(b) retirement plans.
TVCCA, based in southeastern Connecticut, is a private, nonprofit corporation that has been providing social services to economically and otherwise disadvantaged citizens in New London County for over 45 years. The TVCCA's 28 programs currently reach approximately 24,000 eligible recipients annually. TVCCA is widely recognized as a community leader in advocating for and meeting the needs of the region's poor.
"MassMutual's long history of financial strength and stability, along with their comprehensive education program that complements the work of the local advisor, were key factors in their selection as our new retirement plan provider," says Deborah Monahan, executive director, TVCCA. "MassMutual and Smith Brothers have delivered a very good plan transition experience for TVCCA and we look forward to working with them to help our valued employees plan and save for retirement," adds Janine Dunn, head of human resources for TVCCA.
"After a thorough bid process, Smith Brothers Insurance was selected as TVCCA's plan adviser," says Patrick Morrissey AIF®, retirement plan consultant, Smith Brothers Insurance, Glastonbury, Conn. "Matthew Cowles and I have more than 18 years of combined experience in helping not-for-profit clients face the same challenges that organizations like TVCCA face today. We have a dual focus process to assist both the plan sponsor (TVCCA) and its employees in meeting their retirement plan goals. We are pleased to have the opportunity to deliver investment oversight and reporting tools to help TVCCA fulfill their fiduciary obligations, while helping to educate TVCCA employees about important retirement issues through group and one-on-one meetings," adds Morrissey.
"MassMutual is pleased to welcome TVCCA as a valued new retirement services client," says M. Palmer Whitney, national managing director for MassMutual's nonprofit market. "We look forward to helping this important organization streamline their retirement plan administration while adding value to every participating employee's experience as they save for retirement."
For more information about MassMutual's retirement services, please contact your retirement advisor or contact 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.
Contact: |
Lisa Reilly |
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(413) 744-0589 |
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SOURCE MassMutual's Retirement Services Division
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