SPRINGFIELD, Mass., Dec. 15, 2010 /PRNewswire/ – MassMutual Retirement Services Division's recently enhanced Strategic Plan Review and Action Plan is earning high marks, not just from retirement plan sponsors and advisors, but from the industry as well.
The report, which earned two 2010 Signature Awards from the Profit Sharing/401k Council of America (PSCA) in the categories of Plan Administration Communications and Fiduciary Resources, serves as a robust, diagnostic indicator of a plan's health as well as a valuable decision-making resource for plan sponsors and their advisors.
"The Strategic Plan Review and Action Plan offers multiple features for retirement plan assessment and management including an executive summary of the plan's overall health, as well as trends that help the plan advisor and sponsor determine where the plan is effective and where plan design changes or other adjustments can be made to improve the likelihood of participant success," says Hugh O'Toole, senior vice president of sales and client management for MassMutual's Retirement Services Division. "For example, using MassMutual's Strategic Plan Review can help a plan fiduciary establish a platform that is tailored to and appropriate for their particular employee population."
"The Strategic Plan Review and Action Plan has given us the opportunity to revise our plan design and make it more custom to what our employees need," says Ed Kitz, Group Vice President, Legal Risk and Treasury, Roundy's Supermarkets, Milwaukee, Wis. "Through the use of this resource, MassMutual and our advisor have helped us to help our employees be more prepared for their retirement years," he adds.
"MassMutual's report provides retirement plan committees with the information they need to act with care, skill and prudence as they manage their retirement plans," says Jim O'Shaughnessy, Managing Partner, Sheridan Road Financial, Northbrook, Ill., who serves as an advisor on the retirement plan for Roundy's Supermarkets.
For more information about MassMutual retirement services, please call your retirement plan advisor or contact 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.
Copyright © 2010 Massachusetts Mutual Life Insurance Company (MassMutual) and affiliates, Springfield, MA 01111-0001. All rights reserved.
SOURCE MassMutual Retirement Services