SPRINGFIELD, Mass., Dec. 1, 2010 /PRNewswire/ -- According to year-to-date customer satisfaction data through the third quarter of 2010, MassMutual's Retirement Services Division achieved year-over-year improvement across all service models including new record-high satisfaction levels among its Total Retirement Services (TRS), defined benefit (DB) and nonprofit market clients. MassMutual earned its highest overall scores across all service models for "is a financially strong company," "processing of employee transactions," and "personnel." Client loyalty and retention are also at record-high levels.
Significantly, satisfaction among nonprofit market clients now rivals MassMutual's stellar client satisfaction in its core and Taft-Hartley markets, with nonprofit clients also giving MassMutual top scores for "overall satisfaction," "personnel," and "treats me as important." MassMutual's Taft-Hartley clients indicated 100% satisfaction levels in "participant services," "processing of employee transactions," "personnel," "treats me as important," and "would highly recommend." MassMutual has been serving the Taft-Hartley market for more than 30 years and continues to commit significant resources to serving its Taft-Hartley clients and plan members.
The survey was conducted by Chatham Partners and covered more than 1,000 MassMutual plans across all plan types. Questions were based on a 7-point scale in which "7" represents the highest score of "very satisfied" and "1" represents "very dissatisfied."
"MassMutual has had 10 consecutive quarters of increasingly higher levels of overall customer satisfaction. This trend demonstrates that MassMutual is not just listening to its customers, but is responding based upon the voice of their client base as evidenced by strong scores in the 'treats me as important' category," says Joshua Dietch, managing director, Chatham Partners.
"A philosophy of world-class customer service is embedded in our culture here at MassMutual," says Elaine Sarsynski, executive vice president of MassMutual's Retirement Services Division and chairman and CEO of MassMutual International LLC. "Whether you are a retirement plan advisor or third-party administrator, a plan sponsor or a participant, MassMutual wants to make it easy for you to do business with us. Our customers are showing their appreciation for MassMutual's commitment to continuous improvement with record high satisfaction and loyalty scores," adds Sarsynski. "Our strong client retention levels affirm these results and we couldn't be more pleased."
For more information about MassMutual Retirement Services, please contact your retirement plan advisor or call MassMutual at (888) 626-4911.
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 1.2 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, member FINRA and SIPC; OppenheimerFunds, Inc.; and The MassMutual Trust Company, FSB.
For more information, visit massmutual.com.
About Chatham Partners
Chatham Partners is a market research and consulting firm specializing in assisting clients in maximizing the value of past, current and future customer and intermediary seller relationships through customer satisfaction, win/loss, and intermediary analysis. Chatham Partners, Inc. was founded in 1991 and is based in Waltham, Massachusetts. For additional information, please call Joshua Dietch, Managing Director of Chatham Partners, at 781-314-0600 or visit www.chathamllc.com,
Contact: Lisa Reilly
SOURCE MassMutual Retirement Services Division