Products May 14, 2012
MassMutual Enhances DB Plan Termination Services
May 14, 2012 (PLANSPONSOR.com) - MassMutual's Retirement Services Division enhanced its defined benefit (DB) plan termination services offering to existing clients.
Reported by Rebecca Moore
MassMutual’s enhanced DB plan termination services offering provides existing retirement plan advisers and sponsors with resources, education and consulting, including:
- Consultation for amending plan documents;
- Assistance with interim investment philosophy;
- Data management;
- Final accrued benefit calculations;
- Preparation of reports for filing with the government;
- Participant communication;
- Lump sum payments to participants; and
- Participant Distribution Education Assistance
- Customized benefit election kits
- Registered retirement specialists available through Participant Information Center
“MassMutual’s Retirement Services Division steadily improved its DB product suite to help advisors and the plans they serve create better retirement solutions for their employees,” states Elaine Sarsynski, executive vice president of MassMutual’s Retirement Services Division and chairman and CEO of MassMutual International LLC.
In conjunction with the new service model, MassMutual developed a brochure to help retirement plan sponsors understand the different considerations involved in terminating a DB plan.
You Might Also Like:

Benefits |
It’s Back to Basics for Benefits Priorities
Prior to the pandemic, ultra-low unemployment put a spotlight on ‘lifestyle benefits’ for employees. The COVID-19 downturn has already shifted...

Senators Question a Policy Reversal to Allow Lump-Sum Payouts to Retirees
Murray and Wyden’s letter to the IRS and Treasury asks why employers will be permitted to offload pension liabilities and...

Senator Murray Reintroduces ‘Women’s Pension Protection Act’
The legislation would strengthen consumer protections, improve access to retirement savings plans for part-time workers, help increase women’s financial literacy,...