MassMutual Introduces Tool to Measure Retirement Readiness

MassMutual’s new RetireSmart Ready tool provides participants with a simple way to calculate and implement saving rates and asset allocation strategies that may significantly increase their chances of achieving enough income in retirement. It is personalized for an individual participant’s goals and preferences, and is available to all participants on the MassMutual retirement services platform.  

MassMutual last month launched its enhanced RetireSmart participant education solution (see MassMutual Retirement Launches Participant Education Solution).  

In addition, MassMutual announced that this summer it plans to introduce its new PlanSmart Analysis report, a plan-level solution that not only includes activity-based metrics like deferral and participation rates and asset allocation, but also assesses the percentage of employees who are on track to replace a specified level of income in retirement.