MassMutual Retirement Services Posts Highest Sales in History Despite Challenging Economy
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MassMutual Retirement Services Posts Highest Sales in History Despite
Challenging Economy
SPRINGFIELD, Mass., Oct. 29 /PRNewswire/ -- September marked MassMutual
Retirement Services Division's highest sales month in history. September sales
totaled nearly a billion -- $979.2 million to be exact -- representing the
highest monthly total in the division's 60+year history, and contributing to
record Q3 sales of $1.7 billion as well.
"Advisors have identified MassMutual as a retirement plan provider of choice
in a very competitive market," says Hugh O'Toole, senior vice president of
sales and client management for MassMutual's Retirement Services Division. "A
lot of plan consolidation is taking place and those plans that are changing
providers want a seamless transition. MassMutual's world-class service and
expertise in consolidating multiple plans of different types are
differentiators. As such, we also have a very strong pipeline of prospective
sales across the organization."
September's exceptional sales results included plans under MassMutual's fully
bundled and TPA service models in defined contribution, defined benefit,
nonprofit, Taft-Hartley and PEO markets, as well as roll-in and First
Mercantile's collective investment trust product.
"We're confident that our sales results in September are evidence of several
positive trends we're seeing at MassMutual," states Elaine Sarsynski,
executive vice president of MassMutual's Retirement Services Division and
chairman and CEO of MassMutual International LLC. "Retirement plan advisors
and plan sponsors are looking for a provider that is financially strong and
here for the long term, and MassMutual is very well positioned in this
regard."
For more information regarding MassMutual Retirement Services, please call
your retirement plan advisor or contact MassMutual at 1-866-444-2601.
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.
Copyright © 2009 Massachusetts Mutual Life Insurance Company (MassMutual) and
affiliates, Springfield, MA 01111-0001.
All rights reserved.
Contact: Lisa Reilly
413-744-0589
lreilly@massmutual.com
SOURCE MassMutual Retirement Services
Lisa Reilly, +1-413-744-0589, lreilly@massmutual.com
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