MassMutual Draws Up New 403(b) Annuity

July 2, 2001 ( - Sponsors of 403(b) plans can now offer employees a new variable annuity called MassMutual Artistry from MassMutual Financial Group.

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.