MassMutual’s Retirement Services Division achieved record sales in 2011, topping the unit’s 2010 performance, the company disclosed on Tuesday.
The Retirement Services Division, a unit of MassMutual Financial Group, Springfield, Mass., says its written sales for 2011 exceeded $6 billion, a 13% increase over 2010.
Assets under management in retirement plans administered by MassMutual also reached a new record: $55 billion at year-end 2011, a 7% increase over the same period last year. The division also enjoyed a net cash flow in 2011, surpassing $3.5 billion for the first time in the division’s history, the company says.