MassMutual Adds Retirement Plan Warranties

Massachusetts Mutual Life Insurance Company will provide extra compliance support for qualifying employers that use its Smart Architecture Investment Program investment options.

MassMutual, Springfield, Mass., says its new Fiduciary Warranty program will help plan fiduciaries respond to the new federal fiduciary responsibility guidelines.

The program will protect fiduciaries from the effects of a “legal judgment that results in damages attributable to a breach in the warranty,” MassMutual says.

The warranty program will help fiduciaries by certifying that a plan offers a broad range of investment alternatives that have been identified, screened and monitored using Employee Retirement Income Security Act fiduciary prudence standards, MassMutual says.