According to a MassMutual news release, participants at educational institutions, churches and other tax-exempt organizations can direct their retirement savings into mutual funds through the 403(b) programs. Available investment options include a combination of MassMutual institutional sub-advised mutual funds and a portfolio of alliance fund families with valuations at net asset value.
The company said its retirement plan experience allows it to provide plans with technology, products, investments, communications, and personalized service. Among other things, the 403(b) product provides employers, MassMutual asserted, with:
- ERISA compliance reporting
- flexible outsourcing services
- investment management
- effective technology
Tax-exempt organizations eligible to sponsor a 403(b) plan include public schools, colleges, universities, non-profit hospitals and other 501(c)(3) non-profit organizations.