A northeastern insurer has announced a new product for retirement plan participants.
The Retirement Services Division of MassMutual Life Insurance Co., Springfield, Mass., said it intends to roll its RetireSmart participant statement later this year. Highlights of the product include:
* A design that incorporates input on layout and content provided by MassMutual participants and sponsors.
* The ability of plan participants with multiple defined contribution plan accounts (and administered by MassMutual under the same sponsor) to receive a single statement that provides information on all accounts.
* Gross and net expense ratios on the investment performance section.
* Front-page activity summary and investment performance data, plus information on contributions, account activity and beneficiaries.