SPRINGFIELD, Mass., Sept. 8, 2011 /PRNewswire/ -- The MassMutual Retirement Services Division further strengthens its focus in the nonprofit retirement plan market with the additions of Carl Steinhilber and Roderick Toppin. Both Steinhilber and Toppin will focus on further expanding the company's success in the nonprofit market by providing product, investment, market and technical expertise for the company's distribution channel relationships and customers in that market.
Carl Steinhilber, CFS, joined MassMutual on July 25 as national nonprofit practice leader for its retirement services business. Steinhilber comes to MassMutual from ING's retirement services business, where he spent almost 23 years focusing on the public sector and nonprofit markets.
Roderick Toppin joined MassMutual Retirement Services on July 11 as managing director serving the nonprofit market in the eastern region. Toppin brings with him over 10 years of experience in the retirement services industry, primarily focused on pricing, investment and plan design in the nonprofit market. Toppin also joined MassMutual from ING's retirement services business, where he served in a variety of product development and product management initiatives.
"The 403(b) regulatory changes have created new challenges and opportunities for nonprofit plan sponsors," says Hugh O'Toole, senior vice president of sales and client management for MassMutual's Retirement Services Division. "MassMutual Retirement Services, working closely with nonprofit retirement plan advisors and third-party administrators, can help plan sponsors consolidate multiple retirement plans under one provider, simplify administration, help manage risk, minimize costs, and navigate this new arena successfully," adds O'Toole.
"MassMutual is seeing tremendous growth in the nonprofit retirement plan market driven, in part, by our ability to successfully consolidate multiple plans," says Jonathan Shuman, vice president of business development, MassMutual's Retirement Services Division. "Carl and Rod bring extensive experience specific to the nonprofit market, and the addition of these two individuals is evidence of MassMutual's serious commitment to supporting advisors and third-party administrators who have a strong focus on healthcare, education and other 501(c)(3) charitable organizations, their retirement programs and their participants," adds Shuman.
"We're hearing a lot of positive feedback from our plan sponsors that working with MassMutual's 'concierge' service team made consolidation easier and seamless for their employees," says Sean Jordan, assistant vice president of the Retirement Specialist Group at MassMutual. "In addition, they are excited MassMutual has helped them simplify the management of their 403(b) plans," adds Jordan.
Both Steinhilber and Toppin report to Shuman. Brenda Van continues to serve as managing director for the western region.
For more information about MassMutual Retirement Services, please contact your retirement plan advisor or call MassMutual at 1-866-444-2601.
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 1.3 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) 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.
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Contact: Jessica Barry
SOURCE MassMutual Retirement Services