Rainforth will be responsible for leading business development in the NFP market. He will lead a team of six retirement plan specialists who assist MassMutual’s 85 retirement service directors and 90 relationship managers as they support financial advisers and their NFP clients in selecting and implementing retirement plans. Another 90 education specialists help plan participants determine their retirement savings needs and encourage retirement plan participation.
Rainforth will report to Jon Shuman, vice president and head of Markets and Investment Partner Development in MassMutual’s Retirement division, based in Enfield, Connecticut. “Vince has extensive experience with retirement plan design consultation in both the defined contribution and defined benefit marketplaces,” Shuman says. “His track record of success helping not-for-profit plan sponsors will enable MassMutual to become a bigger player in this growing market.”
Before starting at MassMutual, Rainforth was vice president of the tax-exempt market at The Principal Financial Group, where he worked since 1997. He also spent 10 years with the Minor League Baseball Association.
Rainforth received a Bachelor of Science in economics and speech communication from Illinois State University. He also has Series 7, 63, 66 and life and health licenses.
MassMutual currently has $15.5 billion in assets under management with 3,641 retirement plans sponsored by NFP entities such as credit unions, charities, private colleges, religious organizations and others.