NU Online News Service, May 8, 2003, 12:57 p.m. EDT – Massachusetts Mutual Life Insurance Company, Springfield, Mass., is updating its defined-benefit pension plan Web administration tools.
For employers, MassMutual will now offer a special site for making arrangements for participants who are leaving pension plans.
MassMutual will also offer more flexible tools for generating participant reports based on criteria such as age and employment, and it will offer new reports on upcoming retirements, required minimum distributions and, if relevant, employee contributions.
The participant Web site will add an option for active participants to view calculated estimated benefits past the normal retirement age.
Another participant site change will give vested participants who have left their employers the ability to review their defined-benefit plan benefits on the Web.