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Products February 7, 2001
MassMutual Draws Up New 403(b) Annuity
July 2, 2001 (PLANSPONSOR.com) - Sponsors of 403(b)
plans can now offer employees a new variable annuity called
MassMutual Artistry from MassMutual Financial
Group.
Reported by Camilla Klein
MassMutual Artistry offers its contract owners:
- annual mortality and expense charges, currently 1.18%
- no annual contract maintenance fee
- a choice of 39 investment options from 15 different money managers
- a fixed account
- non-rolling surrender charges
- a low minimum investment amount
- a loan feature
The annuity also allows clients to receive income for life or over a specified amount of time.
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