According to the announcement, MassMutual is developing an extensive education campaign to guide plan sponsors through the decision-making process. A Roth Q &A and a white paper are already available on its plan sponsor Web site.
Additional materials will be available later this year and early in 2006 including a comprehensive booklet outlining roles and responsibilities for MassMutual, the plan sponsor, and the payroll provider, the company said. The booklet will include suggested timelines for building the Roth feature into an existing 401(k) or 403(b) plan.
MassMutual is also developing a comprehensive participant education campaign that will include pros and cons and sample scenarios for participants considering the Roth option. An online Roth analysis tool will also be offered for its participant Web site that will allow participants to generate side-by-side contribution scenarios for Roth vs. pre-tax contribution accounts.
MassMutual communication specialists will conduct on-site Roth educational sessions for participants as appropriate, and will provide updated materials as necessary in response to Internal Revenue Service guidance expected by the end of 2005.
For more information about MassMutual Retirement Services’ Roth 401(k) and 403(b) option, please call (888) 626-4911 or visit http://www.massmutual.com/retire .