SPRINGFIELD, Mass., Jan. 6, 2014 /PRNewswire/ -- MassMutual's Retirement Services Division has received 41 "Best in Class" honors and three "Top 10" rankings in PLANSPONSOR magazine's 2013 Defined Contribution (DC) Survey. The annual survey is considered to be one of the retirement industry's leading indicators of plan sponsor satisfaction with sponsor and participant services offered by their 401(k) provider. For each designated service category aimed at plan sponsors and participants, those providers ranked most highly receive a "Best in Class" honor, illustrated by a "cup" in that category.
MassMutual's 41 cups mark the firm's highest-ever total and reflect the confidential reviews of plan sponsor clients. More than 95% of MassMutual's 308 plan sponsor clients surveyed said they would recommend MassMutual to other plan sponsors, with 70.6% saying they are "extremely likely" to do so.
MassMutual earned cups across all asset categories below $1B, garnering 24 cups for its participant services and 17 cups for its services to plan sponsors. Across all categories, MassMutual's participant call centers, statements, retiree services and loan/withdrawal processing garnered the most cups. For its plan sponsor services, account team knowledge, service team responsiveness and staff consistency garnered the most cups across all categories.
The 2013 DC Survey also provides a deeper layer of insight into providers beyond rankings of services—capabilities that can't be measured by cups alone—in its Top 10 Provider rankings. MassMutual ranked as a top 10 provider, as measured by net recommendation scores, in three asset size categories: $5MM–$25MM, $50MM–$200MM and $200MM–$1B.
"These honors reflect MassMutual's commitment to providing Best in Class services to meet our clients' retirement needs," says Elaine Sarsynski, executive vice president of MassMutual's Retirement Services Division and chairman of MassMutual International LLC. "With this recognition, employers are sending a clear message that they appreciate the services we're providing—both to them as plan sponsors and to their participating employees. It is a strong expression of confidence in MassMutual Retirement Services as a provider, and we're honored to have earned that trust," adds Sarsynski.
For more information about MassMutual's Retirement Services Division, please contact your financial professional or call MassMutual at 1-866-444-2601.
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.
PLANSPONSOR magazine, an Asset International, Inc. publication, is the USA's leading authority on retirement issues and benefits programs. PLANSPONSOR.com provides comprehensive news and commerce services dedicated solely to helping employers and financial advisers navigate the complex world of retirement plans and benefit programs on behalf of their employees or clients. For more information, see www.plansponsor.com
About Asset International
Asset International is a privately-held provider of information and technology to global pension funds, asset managers, financial advisers, banking service providers, and other financial institutions in the private and public sector. Its industry-leading brands include Strategic Insight, SIMFUND, Plan For Life, PLANSPONSOR, PLANSPONSOR Europe, PLANADVISER, aiCIO, Global Custodian, and The Trade. The company has offices in New York, Boston, Hong Kong, London, Melbourne and Stamford, CT.
Copyright ©2014 Massachusetts Mutual Life Insurance Company (MassMutual) and affiliates, Springfield, MA 01111-0001. All rights reserved.
Contact: Jessica Barry
SOURCE MassMutual Retirement Services