A press release said the new platform will include a suite of enrollment, transition, and investment change materials in a variety of themes. Plan sponsors will have the option to choose from a menu of options to support the theme best suited to their own participant population.
The RetireSmart participant engagement platform will be phased in to all existing and new retirement plans administered by MassMutual beginning in the second quarter of 2010, the announcement said.
Highlights of the RetireSmart participant engagement platform, according to the firm, include:
- streamlined, action-oriented enrollment, transition, and investment change materials focus on helping participants take smart, targeted steps toward their retirement goals.
- a variety of images that provide plan sponsors with choice, flexibility and relevance to their specific participant population;
- an enhanced process that delivers investment profiles along with enrollment, transition, and investment change materials, and the ability to include optional forms, plan highlights, and required notices;
- additional support for plan sponsors to help them meet some of their ERISA 404(c) responsibilities.
The launch of the participant engagement platform builds on the company’s RetireSmart participant education theme, which includes RetireSmart Academy, a participant education Web site introduced earlier this year (see “MassMutual Adds Education Content to Web Site”).