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MassMutual Adds Morningstar Service

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Massachusetts Mutual Insurance Company is introducing a new investment-selection tool for sponsors of 401(k) plans and other retirement plans.

MassMutual, Springfield, Mass., has hired the Morningstar Associates L.L.C. arm of Morningstar Inc., Chicago, to offer sponsors a new CustomChoice Strategies service.

The service can help employers use the mutual funds already in their investment menus to provide target retirement date and target investment objective investment options, MassMutual says.