Products January 23, 2014

MassMutual Extends Service Hours

MassMutual’s retirement services division extended its weekday call center hours to be more accessible to plan participants.
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The company’s participant information call center now stays open one hour later in the evening, with customer service representatives available from 8 a.m. to 9 p.m. EST.

“With customers across every time zone in America, we are committed to being there for them wherever they live,” says Michael McKenzie, senior vice president of operations for MassMutual’s retirement services division.

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Elaine Sarsynksi, executive vice president of MassMutual’s retirement services division and chairman of MassMutual International LLC, says her company receives millions of inquiries annually through its call center.

MassMutual’s retirement services call center is staffed with professionals trained to assist individuals in managing an array of retirement education and saving needs, the firm says in a statement. Call center associates also offer “roll-in” service so customers can consolidate savings from other qualified retirement accounts to achieve a more holistic picture of overall retirement savings.

More information about MassMutual’s retirement services can be obtained by calling 1-800-874-2502 and choosing option 4.

Deals & People January 23, 2014

Verisight Acquires DailyAccess Corporation

Verisight Inc. is acquiring retirement and benefit plan service provider DailyAccess Corporation, and its subsidiaries, InterServ, LLC and DailyAccess Health and Welfare, LLC.
Reported by

The combined entity will provide services, from 18 offices across the nation, to more than 6,500 retirement plan clients holding more than $30 billion in retirement plan assets. The acquisition particularly enhances the presence of retirement plan service and consulting solution provider Verisight in the Southeast U.S.

The combined company will operate under separate brands for the short-term. Greg Tschider will be at the helm of the combined organization and continue to serve as CEO of Verisight, with Tommy Thomasson continuing to serve as president and CEO of DailyAccess.

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The combined areas of expertise of the two companies include 401(k) and other retirement plans, recordkeeping and administration, trust and custodial services, actuarial services, employee stock ownership plans (ESOPs), compensation and employee benefits consulting, as well as third party fiduciary support and health and welfare services. The combined organization will continue to serve plan sponsors and retirement plan advisers to enhance its offerings and expertise for its advisory partners.

“The synergies gained by combining the resources of our two companies will enable us to deliver more robust solutions for our clients and advisers, in order to meet the demands of the evolving benefits industry,” Tschider says. “This strategic acquisition not only reaffirms our commitment to exceptional client service but, through expanded geographic reach and service offerings, also firmly establishes the combined entity as one of the largest and most comprehensive providers working in partnership with financial advisers in the retirement space today.”

“We believe that our combined organization will fulfill the market need for a client-centric, national independent retirement plan provider that is focused on ease and expertise for the adviser and their clients,” Thomasson adds.

Mobile, Alabama-based DailyAccess will operate as a wholly-owned subsidiary of Verisight, while InterServ and DailyAccess Health and Welfare will continue to be owned by DailyAccess.

Verisight Inc., headquartered in Walnut Creek, California, was the name given to the combined company when Pension Specialists, Inc. acquired the Human Capital Services division of RSM McGladrey, Inc. in 2011 (see “Pension Specialists Acquires RSM McGladrey’s Human Capital Services Division”).

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