Deals & People June 12, 2009
Psychiatric Care Facility Taps MassMutual as Bundled 403(b)/DB Provider
MassMutual's Retirement Services Division has been selected by The Austen Riggs Center, based in Stockbridge, Massachusetts, as the new full-service provider for the company's $7 million defined benefit plan, as well as its $5 million 403(b) plan.
Reported by Rebecca Moore
“This consolidation provides a tremendous opportunity for Austen Riggs to tap MassMutual’s nonprofit expertise while gaining efficiencies with a single provider for both our defined contribution and defined benefit plans,” said Chauncey Collins, director of operations, Austen Riggs, in a press release. Collins praised MassMutual’s employee communications platform and educational materials
The Austen Riggs Center is a not-for-profit, open psychiatric continuum of care facility specializing in the psychotherapeutic treatment of psychiatric disorders and has offered long-term residential and hospital-level psychiatric treatment for 85 years.