NU Online News Service, Oct. 7, 2004, 5:36 p.m. EDT
Massachusetts Mutual Life Insurance Company, Springfield, Mass., has improved its retirement plan administration Web site.[@@]
The changes affect MassMutual’s 4-year-old Total Retirement Center site, which is on the Web at http://www.massmutual.com/retire
The changes should help plan sponsors submit payroll information, track workers’ eligibility and generate year-end reports, MassMutual says.
MassMutual offers the tools to sponsor of defined benefit plans as well as sponsors of defined contribution plans.
One new tool is a new process for submitting demographic and compensation files. MassMutual has combined its systems in ways that let its computers calculate participant eligibility, send out personalized enrollment materials automatically and provide “action packages” when a participant leaves the plan, MassMutual says.
Another new tool is a file mapping “wizard” that helps MassMutual accommodate plan sponsors’ file format preferences.
The updated system also provides immediate feedback when there are problems with file transfers, MassMutual says.