MassMutual Added to Pension Risk Transfer Database

MassMutual currently services more than 100,000 annuitants on behalf of approximately 500 pension buyout contracts that represent $3.0 billion of assets under management (AUM), according to Penbridge. 

“MassMutual has the resources, expertise and financial strength to provide financial advisers, employers and their employees with sound financial solutions to manage long-term pension obligations,” says Bill Silvanic, senior vice president and actuary in Product Management for MassMutual Retirement Services. “We are pleased to work with Penbridge Advisors as they help advise plan sponsors on their risk transfer needs.”

The PRT Database provides registered users with an overview of major PRT providers, inventory of available products, contract parameters, financial due diligence information, screening tools, pricing data and up-to-date information on each PRT provider’s financial strength and relevant industry research. Other major PRT providers participating on the Penbridge PRT Database include American General, MetLife, OneAmerica, Pacific Life, Prudential and United of Omaha (see “Penbridge Database Adds United of Omaha”).

Formed in 2013, Penbridge offers pension plans unbiased information and advisory services for the U.S. pension risk transfer market and products (see “New Firm Offers Pension Risk Transfer Advice”).