MassMutual Adds Family Dynamics to Growing List of Defined Benefit Retirement Plan Clients

SPRINGFIELD, Mass., May 25 /PRNewswire/ -- MassMutual's Retirement Services Division has been selected by Family Dynamics as the new provider for the company's $22 million defined benefit retirement plan. Family Dynamics is a producer of agricultural products based in Leesburg, Fla.

"MassMutual's consultative approach and collaborative investment and actuarial teams have helped us develop an investment strategy that aligns with our goal to make our pension funding levels as predictable as possible," says Bruce Duncan, president, Family Dynamics. "MassMutual's financial strength was also a significant factor in their selection as the new provider for our defined benefit plan," he adds.

"The consistent issue we see today with pension plans is asset-liability mismatch. Retirement plan sponsors need help understanding their risk in order to formulate a game plan to achieve fully-funded status. With MassMutual's help, we were able to quickly and significantly reduce expenses while implementing an investment strategy that considers the plan's investment, mortality and interest rate risk and supports the ultimate goals of Family Dynamics' plan trustees," says Michael Devlin, BCG Terminal Funding Company, Braintree, Mass. Mr. Devlin led the provider search process on behalf of Family Dynamics and serves as the ongoing investment advisor to the plan.

"At MassMutual, our integrated, consultative team approach is designed to support retirement plan advisors and plan sponsors in their development of a plan funding strategy that enhances predictability and streamlines plan administration," adds Bill Silvanic, FSA, senior vice president and chief financial officer for MassMutual's Retirement Services Division.

For more information about MassMutual's retirement services including liability-driven investing, please contact your retirement advisor or contact MassMutual at (888) 626-4911.

About MassMutual

MassMutual's Retirement Services Division has been serving retirement plans for more than 60 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 one million participants.

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 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, Inc., member FINRA and SIPC; OppenheimerFunds, Inc.; and The MassMutual Trust Company, FSB.

For more information, visit massmutual.com.

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SOURCE MassMutual Retirement Services Division