The firm said improvements include making products easier to understand and straightforward pricing that is banded to enable pricing reductions as the plan grows. “Our streamlined sales process and product design make it easier to explain and quote more plans in less time, allowing for more sales opportunities, better plan retention, and the opportunity for more profitable growth,” said Hugh O’Toole, senior vice president and head of sales and client management for MassMutual’s Retirement Services Division, in a news release.
MassMutual offers both fully bundled and TPA service models. The enhanced products include a broad selection of group annuity and registered mutual fund investment options for 401(k) and 403(b) plans, including stable value and multiple target-date options from a variety of fund families on MassMutual’s Smart Architecture investment platform. Value-added services include MassMutual’s RetireSmart participant education tools such as RetireSmart Academy and automated participant education campaigns among others.
Furthermore, MassMutual offers a suite of materials to assist retirement plan advisers and TPAs in presenting the product to plan sponsors and supporting them on an ongoing basis.
For more information, contact your MassMutual sales representative or contact MassMutual at 1.866.444.2601 or www.massmutual.com/retire.