SPRINGFIELD, Mass., Aug. 6, 2012 /PRNewswire/ -- MassMutual's Retirement Services Division has enhanced its defined contribution (DC) participant statements1 to help paint a clearer picture of participant retirement readiness. Leveraging the same valuable data provided by the company's industry-leading online RetireSmart(SM) Ready tool, the enhanced second quarter RetireSmart Ready statement conveniently provides participants with a new perspective around retirement outcomes, by clearly gauging the likelihood of reaching their retirement goals based on their current strategies.
(Photo: http://photos.prnewswire.com/prnh/20120806/NE52598-INFO )
The action-inspiring RetireSmart Ready information (pictured below) is designed to help participants:
"MassMutual Retirement Services is dedicated to helping participants retire on their own terms by making it easier to take action," says Tina Wilson, CFA, AIF, vice president of product development for MassMutual's Retirement Services Division. "We firmly believe that when a participant understands the outcomes of their actions, it can go a long way towards motivating them to get – and stay – on track. We will continue to put actionable tools in the hands of retirement plan advisors, plan sponsors and participants with the goal of helping more participants achieve a successful retirement," adds Wilson.
MassMutual's smart tools and services are designed to work together in an integrated fashion. Each is based on and provides the same personalized data, making the planning process easier for both retirement plan sponsors and participants.
For more information about MassMutual Retirement Services, please contact your retirement plan advisor or call MassMutual at 1-866-444-2601.
1 Available to clients that activated the Plan Smart Analysis report as of March 31, 2012 and selected this feature for their participants. MassMutual's PlanSmart Analysis report is available to plan advisors and sponsors who meet certain plan and systems requirements via MassMutual's Total Retirement Center website.
2 Experts advise that most people will need at least 75% of their pre-retirement income to cover their expenses in retirement. According to that approach, a person who makes $40,000 per year while working would need to have access to $30,000 per year from savings in retirement.
About MassMutualMassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. MassMutual is headquartered in Springfield, Massachusetts and its major affiliates include: Babson Capital Management LLC; Baring Asset Management Limited; Cornerstone Real Estate Advisers LLC; The First Mercantile Trust Company; MassMutual International LLC; MML Investors Services, LLC, Member FINRA and SIPC; OppenheimerFunds, Inc.; and The MassMutual Trust Company, FSB.
Founded in 1851, MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyholders. The company has a long history of financial strength and strong performance, and although dividends are not guaranteed, MassMutual has paid dividends to eligible participating policyholders every year since the 1860s. With whole life insurance as its foundation, MassMutual provides products to help meet the financial needs of clients, such as life insurance, disability income insurance, long term care insurance, retirement/401(k) plan services, and annuities. In addition, the company's strong and growing network of financial professionals helps clients make good financial decisions for the long-term.
MassMutual's Retirement Services Division has been serving retirement plans for 65 years. It offers a full range of products and services for corporate, union, nonprofit and governmental employers' defined benefit, defined contribution and nonqualified deferred compensation plans. It serves approximately 1.6 million participants.
For more information, visit www.massmutual.com or find MassMutual on Facebook, Twitter, LinkedIn, YouTube and Google+. For information regarding MassMutual's Retirement Services Division, you may also visit massmutual.com/retire or find us on Facebook.com/retiresmart and YouTube.com/retiresmart.
Copyright ©2012 Massachusetts Mutual Life Insurance Company (MassMutual) and affiliates, Springfield, MA 01111-0001. All rights reserved.
Contact: Jessica Barry413-744-8334 email@example.com
SOURCE MassMutual Retirement Services