NU Online News Service, July 2, 3:05 p.m. – Massachusetts Mutual Life Insurance Company, Springfield, Mass., has introduced MassMutual Artistry, a variable annuity designed for the 403(b) retirement plan market.
Schools, hospitals and other nonprofit organizations often set up 403(b) plans in place of the 401(k) retirement plans available from for-profit employers.
The Artistry annuity offers a choice of 39 investment options from 15 money managers, including Fidelity Investments, Boston, and MassMutual’s own money management subsidiaries.
The annuity also offers a fixed account option.
MassMutual issues the annuity in New York. A subsidiary, C.M. Life Insurance Company, Hartford, issues the annuity in all other states.