More product solutions to serve more plans with staff additions
Massachusetts Mutual Life Insurance Company (MassMutual) has announced an expansion to its robust suite of stable value offerings for the defined contribution (DC) market with its launch of a Guaranteed Interest Account* (GIA). This product enhances the existing suite of general account, separate account, synthetic and commingled solutions customized to serving the needs of a variety of DC plans and participants through institutional, intermediary and advisor channels.
MassMutual has been in the stable value business for more than five decades and has over $37 billion in stable value assets serving the needs of multiple plan fiduciaries.
“With this addition to our robust mix of solutions, we are further expanding MassMutual’s strong presence in the stable value marketplace,” said Aruna Hobbs, head of MassMutual’s stable value investments business. “As a highly-rated mutual insurance company, we remain fully committed to serving the long-term interests of our stable value customers and their advisors.”
What’s more, MassMutual has added new positions to serve the retirement advisor segment, one being a new role as national sales director of stable value investments being held by Todd Howard, who has joined the company and reports to Hobbs.
“Infusing stability in defined contribution plans can help investors withstand any market condition for both younger investors as well as those near retirement,” said Hobbs. “We are excited for these new offerings with our guarantees and an expanded team to support the advisor community and to reach more customers who need what we have to offer, no matter the plan size.”
Tapping the global investment expertise of MassMutual subsidiary, Barings, MassMutual’s stable value solutions span the spectrum of general account, separate account, group annuity, GIC, commingled and custom wrap solutions that can be customized to meet the needs of large individual plans, or commingled for smaller plans that may not otherwise have access to such solutions. Customizable solutions are available across all plan types, including 401(k), 403(b), Taft-Hartley, executive benefit, 457 government, 529 college savings, and health savings accounts.
*The MassMutual Guaranteed Interest Account (or “GIA”) is a general account product designed as a principal-protected, stable value investment option and is only available through an unregistered MassMutual Group Annuity Contract.
About MassMutual
MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyowners. Founded in 1851, the company has been continually guided by one consistent purpose: we help people secure their future and protect the ones they love. With a focus on delivering long-term value, MassMutual offers a wide range of protection, accumulation, wealth management and retirement products and services. For more information, visit www.massmutual.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230426005096/en/
Contacts
Media Contact: Paula Tremblay, ptremblay@massmutual.com
