Products July 27, 2011

MassMutual Enhances Target-Date, Target-Risk Offerings

MassMutual's Retirement Services Division has enhanced its investment offerings in its target date (lifecycle) and lifestyle (risk aware) categories to “better serve retirement plan market needs”.  

 

Reported by

According to the announcement, MassMutual has expanded its risk-based Journey series investment options, which were formerly only available as separate investment accounts (“SIAs”) through a group annuity contract, with newly created RetireSMART mutual funds that it says employ the same investment strategy. The new RetireSMART lifestyle series is being offered for the first time as a mutual fund solution for registered plans in addition to the SIAs that MassMutual says have long been available for group annuity contract plans.  

Portfolios within both the target date and lifestyle series utilize a “fund-of-funds” approach that combines mutual funds offered by MassMutual into professionally managed strategies, which consider an investor’s expected retirement date (RetireSMART target date) or an investor’s comfort with risk (RetireSMART lifestyle).  

Never miss a story — sign up for PLANADVISER newsletters to keep up on the latest retirement plan adviser news.

According to MassMutual, the new investment offerings, implemented in June, are designed to position MassMutual’s target date and lifestyle funds more competitively and make them available to more retirement investors in a wider range of plans. MassMutual’s portfolio management team for both fund groups remains unchanged.  

As part of the initiative, MassMutual has renamed its Select Destination (target date) and Journey (lifestyle) fund series to capture the brand focus of its overall MassMutual RetireSMART(SM) participant platform. 

“These enhancements give MassMutual an even more compelling and competitively priced offering in a category critical to retirement investors and to our continued strong momentum within the retirement services industry,” noted Eric Wietsma, senior vice president, Investment Services, MassMutual’s Retirement Services Division in announcing the changes. 

A table of the changes can be found on the next page. 

MassMutual notes that their target date options do not reach their most conservative allocation until after their target date, and explains that investors should consider their own personal risk tolerance, circumstances and financial situation. 

 

 

 

Previous Select Destination Retirement  

Fund Target Date Series 

New RetireSMART(SM)  

Target Date Series 

 

Select Destination Retirement Income Fund 

RetireSMART In Retirement Fund 

 

Select Destination Retirement 2010 Fund 

RetireSMART 2010 Fund 

 

Select Destination Retirement 2015 Fund 

RetireSMART 2015 Fund 

 

Select Destination Retirement 2020 Fund 

RetireSMART 2020 Fund 

 

Select Destination Retirement 2025 Fund 

RetireSMART 2025 Fund 

 

Select Destination Retirement 2030 Fund 

RetireSMART 2030 Fund 

 

Select Destination Retirement 2035 Fund 

RetireSMART 2035 Fund 

 

Select Destination Retirement 2040 Fund 

RetireSMART 2040 Fund 

 

Select Destination Retirement 2045 Fund 

RetireSMART 2045 Fund 

 

Select Destination Retirement 2050 Fund 

RetireSMART 2050 Fund 

 

Previous Journey Lifestyle Series 

New RetireSMART Lifestyle Series 

 

Conservative Journey Fund 

RetireSMART Conservative Fund 

 

Moderate Journey Fund 

RetireSMART Moderate Fund 

 

Aggressive Journey Fund 

RetireSMART Moderate Growth Fund 

 

Ultra Aggressive Journey Fund 

RetireSMART Growth Fund 

 

 

Data & Research July 27, 2011

Financial Wellbeing a Necessity for Balanced Life

A Genworth survey has found that more women than men feel financial wellbeing is important to maintaining a balanced life.
Reported by

However, 54% of men focus on planning for their financial health at least once a week, compared to only 42% of women.  

According to the survey, respondents 55 and over were more likely to view financial wellbeing as a necessity for a balanced life, with more than 77% saying it is needed for a balanced life. Those between 18-24 are more likely (58%) to take time to focus on planning for their financial health at least once a week compared to those 35-44 (39%), 45-54 (47%), 55-64 (48%) and over 65 (39%).  

Want the latest retirement plan adviser news and insights? Sign up for PLANADVISER newsletters.

Over 66% of respondents ages 18-54 say that worries over their personal financial situation have an impact on their health, while less than 52% of respondents ages 55 and above agree.  

Genworth reports that financial wellbeing is equally important to all income groups, with more than 60% of respondents across income levels below $75,000 identifying financial wellbeing as needed for a balanced life. Over 70% of individuals making over $50,000 say they feel good about their ability to manage the balance of physical and financial stress, while 61% or less of individuals below $50,000 in household income agree. 

Households making less than $25,000 are most likely to feel like they need help but don't know where to get it (21% of respondents); 15% or less of all other income groups feel the same way.  

Respondents in larger households say that worries over their personal financial situation have an impact on their health. This compares to smaller households, which are more likely to feel good about their ability to manage and balance physical and financial stress.  

Two-thirds of respondents with households that have three or more members say worries over their personal financial situation has an impact on their health, while less than 58% of respondents with one or two household members agree.  

The supporting data for this study was collected online among a demographically representative U.S. sample of 1,046 adults (ages 18+) from June 23-26, 2011.

«