SPRINGFIELD, Mass., June 20, 2012 /PRNewswire/ -- MassMutual's Retirement Services Division has been selected by Soule, Blake & Wechsler (SB&W) as the new provider for the company's 401(k) retirement plan. SB&W's retirement plan has approximately $3 million in assets under management and 24 participants.
Headquartered in Stamford, Conn., SB&W is an employee owned and operated global custom component manufacturing company. Operating two offices throughout the United States and two manufacturing facilities in China, SB&W helps its clients manage the risks and requirements of manufacturing.
"The transition of SB&W's 401(k) plan to MassMutual has been easy, seamless and well communicated," says Michael O'Connor, CFO & COO of SB&W. "We interviewed many providers and MassMutual's highly effective on-site educational meetings, award-winning participant communications and dedication to plan health and retirement readiness made them a clear choice for SB&W's 401(k) Plan," adds O'Connor.
"MassMutual's participant communication and education capabilities were among the primary reasons for our selection," says Robert Dunbar and Michael Sparks, Retirement Plan Specialists with MassMutual Financial Group based in Woodbury, New York, who assisted SB&W with the search for a new retirement plan provider. "With the help of MassMutual, SB&W looks forward to simplifying their overall retirement plan administration while increasing the value of the 401(k) retirement plan to every employee," adds Dunbar.
"MassMutual's Retirement Services Division is proud to offer an outstanding participant experience to plans of all sizes," says Elaine Sarsynski, executive vice president, MassMutual's Retirement Services Division and chairman and CEO of MassMutual International LLC. "SB&W's reputation for quality extends to the employee retirement plan, and we relish the opportunity to deliver the premium level of service for which MassMutual is also recognized. Together, we will help build a stronger retirement future for each SB&W employee," adds Sarsynski.
For more information about MassMutual Retirement Services, please contact your retirement plan advisor or call MassMutual at 1-866-444-2601.
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, LLC, Member FINRA and SIPC; OppenheimerFunds, Inc.; and The MassMutual Trust Company, FSB.
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's Retirement Services Division has been serving retirement plans for 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 1.6 million participants.
About Soule, Blake & Wechsler (SB&W)
SB&W is an employee owned and operated company, founded in 1983. With international business relationships spanning both decades and continents, SB&W is able to manage the risks and requirements of manufacturing at our Chinese facilities. SB&W has two manufacturing facilities in Hangzhou and office in Beijing, China employing over 200 factory workers and 20 engineers. For more information, visit http://sbwusa.com/.
Copyright ©2012 Massachusetts Mutual Life Insurance Company (MassMutual) and affiliates, Springfield, MA 01111-0001. All rights reserved.
Contact: Jessica Barry
SOURCE MassMutual's Retirement Services Division