MassMutual Adds $23+ Million Taft-Hartley Retirement Plan
SPRINGFIELD, Mass., Nov. 17, 2011 /PRNewswire via COMTEX/ --
MassMutual's Retirement Services Division has been selected as the new provider for the Labor Unions 401(k) Plan based in Southern California. The Taft-Hartley plan has more than $23 million in assets under management and serves over 3,500 union members employed in the hotel, food service, gaming, textile, laundry, manufacturing, and distribution industries.
"In just 10 years, the Labor Unions 401(k) Plan grew from a few local members to thousands spanning the United States," says Jef Eatchel, chairman of the board of trustees, Labor Unions 401(k) Plan. "With this exciting growth, we needed to find a recordkeeper who could help us support the diverse needs of our members nationwide. We are very pleased to have selected MassMutual as the new provider for our Labor Unions 401(k) Plan. MassMutual shares our mission of providing quality service, a hands-on approach, and the ability to manage the needs of an ever-changing market with a positive and professional approach. We interviewed many companies and MassMutual was the clear choice for all the Trustees of the Labor Unions 401(k) Plan," adds Eatchel.
"In association with Pension Fund Evaluations, Inc., the plan's investment consultant, MassMutual is very pleased to welcome the Labor Unions 401(k) Plan as a valued new Taft-Hartley retirement services client, and we look forward to helping its hard-working members plan and save for retirement," says Scott Buffington, national sales manager for MassMutual's Taft-Hartley market segment. "We are committed to delivering value and service excellence to the Trustees and members of the Labor Unions 401(k) Plan," adds Buffington.
MassMutual has been serving the Taft-Hartley retirement plan market for more than 50 years. For more information about MassMutual's Taft-Hartley retirement services, please contact your retirement advisor or contact Richard Cartier, Taft-Hartley practice leader, at MassMutual (413) 744-6733.
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 1.3 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) 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.
For more information, visit www.massmutual.com or 'Like' MassMutual on Facebook and Facebook.com/retiresmart.
For more information on Pension Fund Evaluations, Inc, visit their website at www.pfeval.com
Copyright ©2011 Massachusetts Mutual Life Insurance Company (MassMutual) and affiliates, Springfield, MA 01111-0001. All rights reserved.
Contact: Jessica Barry413-744-8334 firstname.lastname@example.org
SOURCE MassMutual Retirement Services
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