Call your financial professional, local MassMutual retirement specialist or our sales desk at 1-800-874-2502, or email mmwork@massmutual.com. RetireSmart. I am an individual. Financial professionals can access information on MassMutual@WORK Retirement Solutions at massmutualatwork.com. Many people think that in preparing for retirement … MassMutual offers a wide range of financial products and services, including life insurance, disability income insurance, long-term care insurance, annuities, retirement plans and other employee benefits. Through MassMutual you can purchase many different annuity products including deferred fixed annuities, variable annuities, income annuities, and fixed index annuities. About MassMutual They typically range from six to nine times your annual income and can be affected by a number of factors, like geography and market conditions. These include mega, large, midsize and small corporate 401(k) plans; government plans ranging in scale from state-level plans to municipal agencies; not-for-profits such as hospital and religious organization 403(b) plans; and collectively bargained Taft-Hartley plans. Our newsletter provides insights into current events, financial tactics and ways to save. Blog Listing. MassMutual.com ; Contact Us ©2020 Massachusetts Mutual Life Insurance Company (MassMutual… we’ve been helping people secure their future and protect the ones they love, year in a row to World’s Most Ethical Companies list. Retirement Access. With new features, the RetireSmart app is … Empower and MassMutual intend to enter into a strategic partnership through which digital insurance products offered by Haven Life Insurance Agency, LLC3 and MassMutual’s voluntary insurance and lifetime income products will be made available to customers of Empower Retirement and Personal Capital. And, as you use our online services, at times you will be … MassMutual gives you that same level of support as a retirement plan provider. Retirement Plans . 1 It also includes approximately 2,000 employees affiliated with MassMutual’s retirement plan business who provide a full range of … 4) As of June 30, 2020. SPRINGFIELD -- MassMutual’s decision to sell its retirement plan business will impact 2,000 employees, most of them working at MassMutual’s offices in Enfield, Connecticut, the company said. Personal Capital, a subsidiary of Empower Retirement, is an industry-leading hybrid wealth manager that currently manages more than $13 billion in assets virtually delivered from offices across the U.S. For more information please visit empower-retirement.com and connect with us on Facebook, Twitter, LinkedIn and Instagram. Government, education, healthcare, not-for-profit plans. Life Insurance Company and MML Bay State Life Insurance Company (Enfield, CT 06082). Get Retirement Ready; Enjoy Retirement; Financial Wellness; Calculate Most Popular; Getting Started; Life Events; Maximizing Your Plan; Retiring ; What's New? MassMutual annuities, IRAs, and insurance protection products may be able to help you retire comfortably. Defined Contribution plans from MassMutual Retirement Services. Effective January 1, 2013, Massachusetts Mutual Life Insurance Company (MassMutual) acquired The Hartford's Retirement Plans Group. MassMutual. A wide range of group retirement products and services can help you maintain a long-term retirement strategy. Make smart choices and save now to meet your retirement savings goals. The MassMutual retirement plan business has grown substantially over the past decade, with the number of participants served doubling to over 2.5 million and assets under management more than quadrupling from $34 billion to over $160 billion. 1 There may be implications under the Employment Retirement Income Security Act (ERISA) depending on how certain types of insurance policies are made available to employees and whether such an … During a transition period you will see branding of both The Hartford and MassMutual as well as legal notices of each company. All MassMutual Accounts. Effective January 1, 2013, Massachusetts Mutual Life Insurance Company (MassMutual) acquired The Hartford's Retirement Plans Group. Plan sponsor & advisor account management - government, education, healthcare, not-for-profit … All rights reserved. During a transition period you will see branding of both The Hartford and MassMutual as well as legal notices of each company. MassMutual’s retirement plan business is highly regarded in the retirement industry for its robust defined contribution, defined benefit and nonqualified plan offerings; deep commitment to participants, financial professionals and plan sponsors; and innovative solutions to achieve financial wellness. These statements are not guarantees of future performance, as actual results may differ depending on the development and completion of this business combination. Misconceptions and long term care. Find. Tagged As Retirement. 3) Haven Life Insurance Agency, LLC is an affiliate of MassMutual. 6) Pensions & Investments 2020 Defined Contribution Survey Ranking as of April 2020. The RetireSMART SM App is available for retirement plans with employee contributions (i.e. If you’re interested in coverage that provides guaranteed death benefits, you should consider whole life insurance. A variety of retirement-planning products exist to provide the benefits that support your employees' commitment to your business. ", The transaction, which is expected to close in the fourth quarter of 2020 pending customary regulatory approvals, will increase Empower’s participant base to more than 12.2 million and retirement services recordkeeping assets to approximately $834 billion administered in approximately 67,000 workplace savings plans.2. Retirement Plans. MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyowners. Total Retirement Center. Of the total $667B assets under administration, $16.8B represents the AUA of GWLANY. 401(k) defined contribution plans. Consider a few of the following retirement planning options. In August, Empower announced it had completed the acquisition of Personal Capital, a registered investment adviser and wealth manager. While logging in to your retirement access account, you will be guided through steps to establish a new, stronger and more secure username and … A wide range of group retirement products and services can help you maintain a long-term retirement strategy. Based on the terms of the agreement and subject to regulatory approvals, Empower will acquire the retirement plan business of MassMutual in a reinsurance transaction for a ceding commission of $2.35 billion. Explore how you can make the most of your retirement plan contribution What is my Required Minimum Distribution (RMD)? Consider these and other factors, uncertainties and potential events carefully and do not place undue reliance on forward-looking information. Retirement. The acquisition will capitalize on both firms’ expertise, provide technological excellence and deep product capabilities, and create scale to the benefit of retirement plan participants and their employers. If you are approaching retirement … double check. Empower today administers $667 billion in assets on behalf of 9.7 million American workers and retirees through approximately 41,000 workplace savings plans.4 Empower provides retirement services, managed accounts, financial wellness and investment solutions to plans of all types and sizes, including private-label recordkeeping clients. 1 There may be implications under the Employment Retirement Income Security Act (ERISA) depending on how certain types of insurance policies are made available to employees and whether such an … Information refers to the business of Great-West Life & Annuity Insurance Company and its subsidiaries, including Great-West Life & Annuity Insurance Company of New York. … Your MassMutual Retirement Specialist is also available to discuss the options available within your retirement account. Fine-tune your education savings plan. MassMutual provides retirement planning information that can help answer your questions. It is the nation’s second-largest retirement plan recordkeeper by total participants.6 Empower serves all segments of the employer-sponsored retirement plan market: government 457 plans; small, midsize and large corporate 401(k) clients; non-profit 403 (b) entities; private-label recordkeeping clients; and IRA customers. 5) Retirement Resources, Inc. 2019. GREENWOOD VILLAGE, Colo. and SPRINGFIELD, Mass., Sept. 8, 2020 — Empower Retirement and Massachusetts Mutual Life Insurance Company (MassMutual) today announced that they have entered into a definitive agreement for Empower to acquire the MassMutual retirement plan business. All products and services Empower has annually grown at more than twice the rate of the industry average5 fueled by integrated financial technology tools, a commitment to customer service and an advisor-centric offering that have been the hallmarks of the company’s highly successful retirement plan solutions. Through this transaction, business written by MassMutual will be reinsured by Great-West Life & Annuity Insurance Company. The MassMutual retirement plan business comprises 26,000 workplace savings plans through which approximately 2.5 million participants have saved $167 billion in assets.1 It also includes approximately 2,000 employees affiliated with MassMutual’s retirement plan business who provide a full range of support services for financial professionals, plan sponsors and participants. Have another MassMutual account? If you … MassMutual Dashboard. defined benefit plans). Select another MassMutual website: RetireSmart. The acquisition will be a benefit to retirement plan participants who will gain the outcome-oriented client focus and deep retirement expertise of both firms while benefiting from a state-of-the-art technology platform. Locate tools, calculators and articles to help you meet financial goals. Concurrently, MassMutual … Through this transaction, business written by MassMutual will be reinsured by Great-West Life & Annuity Insurance Company. Disability Insurance Calculator. Source: MassMutual. 1 There may be implications under the Employment Retirement Income Security Act (ERISA) depending on how certain types of insurance policies are made available to employees and whether such an … College Savings Calculator . Close. We’ll deliver the specialized coaching, customized education, and easy-to-use tools that your members need to build their retirement paycheck. 2) Estimated joint assets under administration of Empower Retirement and MassMutual. The MassMutual retirement plan business comprises 26,000 workplace savings plans through which approximately 2.5 million participants have saved $167 billion in assets. Learn More > Log-in > Plan Sponsors and TPAs. How to get, or keep, your retirement savings plan on track, How to survive retirement with your spouse, Tips to help maximize your retirement income, long term care & life insurance combination, What's behind MassMutual's financial strength, Product/Fund Performance & Regulatory Documents, Modal Charge Disclosure and APR Calculator. Retirement Access 401(k) defined contribution plans. Life Event Calculators. Retirement Plans Government, education, healthcare, not-for-profit plans. Determine the right amount of coverage. We also offer individual retirement accounts, and Fortuna by MML Investors Services, a digital investment platform providing automated portfolio … Whether you’re just starting to save for retirement, or close to tapping into your nest egg, it’s important that you have the financial independence you want when you need it. Our Retirement Planning Calculator can help you find out if you’re saving enough, or if you need to … Welcome to MassMutual. The transaction will also bring MassMutual’s defined benefit business under the umbrella of plans Empower serves. Login or enroll to your MassMutual Defined Contribution Workplace Retirement account. Concurrently, MassMutual will retrocede business it reinsures from a cedent, which MassMutual assumed in a previous transaction. Forward-looking Statements Disclaimer Insurance, Annuities, and Investments. It may also … Plan sponsor & TPA account management - 401(k) defined contribution plans. The Personal Capital platform offers personalized financial advice, financial planning and goal setting, providing insights and tools for plan participants and individual investors. A wide range of group retirement products and services can help you maintain a long-term retirement strategy. “Together, Empower and MassMutual connect a broad spectrum of strength and experience with a shared focus on the customer. ©2020 Massachusetts Mutual Life Insurance Company (MassMutual®), Springfield, MA 01111-0001. MassMutual offers life insurance and protection products, retirement and investment services to help you meet your … Government, education, healthcare, not-for-profit plans. Plan sponsor & TPA account management - 401(k) defined contribution plans. ©2020 Massachusetts Mutual Life Insurance Company (MassMutual®), Springfield, MA 01111-0001. Skip Navigation. A wide range of group retirement products and services can help you maintain a long-term retirement strategy. Keeping retirement access plan participants connected and safe We want you to enjoy the ease and convenience of a digital world, and not have to worry about cyber security. Eversheds Sutherland served as legal counsel, and Goldman Sachs and Rockefeller Capital Management served as financial advisors to Empower. “With today’s announcement, Empower is taking the next step toward addressing the complex and evolving needs of millions of workers and retirees through the combination of expertise, talent and business scale being created,” said Edmund F. Murphy III, President and Chief Executive Officer of Empower Retirement. About Empower Retirement Learn Get Started; Choose Investments; Improve Your Outcome; Get Retirement Ready; Enjoy Retirement; … AUA is a non-GAAP measure and does not reflect the financial stability or strength of a company. Life Event Calculators: How much life insurance do I need? Don’t know how much to save for retirement? RS-49356-00. In addition, the balance sheet of the transferred business would be supported by $1 billion of required capital when combined with Empower’s existing U.S. business. Annuities can offer you guaranteed income for the rest of your life. The MassMutual retirement plan business has grown substantially over the past decade, with the number of participants served doubling to over 2.5 million and assets under management more than quadrupling from $34 billion to over $160 billion. Learn More > Log-in > … The MassMutual retirement plan business comprises 26,000 workplace savings plans through which approximately 2.5 million participants have saved $167 billion in assets. MassMutual’s Blog can provide you with information to assist you in meeting your financial goals. We also offer individual retirement accounts, and Fortuna by MML Investors Services, a digital investment platform providing automated portfolio management. 1 There may be implications under the Employment Retirement Income Security Act (ERISA) depending on how certain types of insurance policies are made available to employees and whether such an … Read more about the retirement resources and advice we offer. Learn More > Manage your account on the go! 9 Questions You Should Ask about Life Insurance, Product/Fund Performance & Regulatory Documents, Modal Charge Disclosure and APR Calculator. We're here for you. For Institutions Insure Your Business We are excited about the opportunity to reach new customers and serve even more Americans on their journey toward creating a secure retirement.”, “In Empower, we are pleased to have found a strong, long-term home for MassMutual’s retirement plan business, and believe this transaction will greatly benefit our policyowners and customers as we invest in our future growth and accelerate progress on our strategy,” said Roger Crandall, MassMutual Chairman, President and CEO. Explore how you can make the most of your retirement plan contribution. GWLA assets total $47.7B and liabilities total $46.1B. = opens in new window. Legal menu. See what that may mean for you. And, as you use our online services, at times you will be on Hartford branded sites and at other times, you will be on MassMutual … Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel, and Lazard served as exclusive financial advisor to MassMutual. Social Security & Your Retirement Learn More > COVID-19 Resource Center During trying times, we can all use some help. Insurance products issued by Massachusetts Mutual Life Insurance Company (MassMutual) (Springfield, MA 01111-0001) and its subsidiaries, C.M. Stay up to date with the latest news and stories. 401(k) and pension plans. I consent to providing the above personal information to MassMutual, which MassMutual will use solely to verify my identity. 401(k) and pension plans. Call 1-800-854-0647 with your questions, or for assistance. In addition, Empower’s retail business provides a robust suite of products and services to individual retirement account and brokerage customers. How much life insurance do I need? Not available for employer-funded plans (i.e. Retirement planning is a lifelong endeavor. Plan Access. To protect your assets from being used to cover long-term care expenses, long term care insurance or a long term care & life insurance combination may be for you. Interested in offering MassMutual@WORK Retirement Solutions? Making it easy for you to administer your retirement plan. The IRS requires that you begin annual withdrawals at age 70½. Our newsletter provides insights into current events, financial tactics and ways to save. RS-48988-00. Plus, you can feel confident knowing our Responsible Contractor Policy puts in writing our … See how a disability could affect your finances. Launch Site; FOR FINANCIAL PROFESSIONAL USE ONLY. A wide range of group retirement products and services can help you maintain a long-term retirement strategy. Other than as specifically required by applicable law, forward-looking information as a result of new information, future events or otherwise will not be updated. Participant. Annuities . I am Representing a Trust or a Corporation. 1) As of June 30, 2020. Estimates vary as to how much in savings you should have to maintain your current standard of living in retirement. How … The combined firm will serve retirement plans sponsored by a broad spectrum of employers. Determine the right amount of coverage. Policy/Account Number. Any New York business will be reinsured by Great-West Life & Annuity Insurance Company of New York. For more information, visit massmutual.com. For policy/account number, please do not include prefixes, suffixes, dashes, asterisks, commas, spaces or … Government, education, healthcare, not-for-profit plans, Combines talent and expertise in key growth areas to provide customer service focus, technological excellence, deep product capabilities, Expands firm’s capabilities across retirement services market to more than 12.2 million individuals and 67,000 retirement plans. Headquartered in metro Denver, Empower Retirement administers $667 billion in assets for more than 9.7 million retirement plan participants as of June 30, 2020. 1 There may be implications under the Employment Retirement Income Security Act (ERISA) depending on how certain types of insurance policies are made available to employees and whether such an … All rights reserved. Certain statements in this press release constitute forward-looking statements, representing management’s current view of future events based on reasonable assumptions. 401(k) and 403(b) plans). Establishing individual retirement arrangements funded by annuities is easy for small business owners. If your employer offers MassMutual retirement plans or voluntary insurance products, make sure you’re aware of all that our workplace benefits provide. “This includes strengthening our leading position in the U.S. protection and accumulation industry by expanding our wealth management and distribution capabilities; investing in our global asset management, insurance and institutional businesses; and delivering a seamless digital experience — all to help millions more secure their future and protect the ones they love. GWLANY assets total $1.59B and liabilities total $1.48B. Privacy (Updated) Account Protection Policy (Updated) Legal/Terms of Use (Updated) Through MassMutual you can purchase many different annuity products including deferred fixed annuities, variable annuities, income annuities, and fixed index annuities. A cedent, which MassMutual assumed in a row to World’s Most Ethical Companies list 667B assets under of... 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