The tool can be personalized for
an individual's goals and preferences, and is being made available to all
participants on the MassMutual retirement services platform. The company says helping participants select better savings rates and asset allocation strategies may increase their
chances of achieving enough income in retirement.
The RetireSmart Ready tool is expanding the RetireSmart participant education platform that MassMutual introduced last month (see "MassMutual Retirement Launches Participant Education Solution").
And on the plan level, MassMutual also announced that it
plans to introduce the PlanSmart Analysis report this summer. PlanSmart will be a plan-level
solution that in addition to standard activity-based metrics like deferral and
participation rates and asset allocation, will also assesses the
percentage of employees who are on track to replace a specified level of
income in retirement.