Taft-Hartley AUM Reaches Highest Levels in Division History
(Springfield, MA) – MassMutual’s Retirement Services Division’s dedication to and experience in serving the retirement needs of the Taft-Hartley market for more than 40 years has helped the firm reach a new milestone. As of Oct. 31, 2013, MassMutual’s assets under management in the Taft-Hartley market now surpass $10 billion. In 2013 alone, the division has welcomed 23 new Taft-Hartley clients.
“With more than 110 Taft-Hartley clients, a 100% client retention rate and $10 billion in AUM specifically in this market, our commitment to serving the retirement needs of hard-working union members has never been stronger,” says Scott Buffington, national sales manager for MassMutual’s Retirement Services Division.
The Electrical Workers Local 466 Pension Fund (Local 466), headquartered in Charleston, W.Va., recently transitioned its retirement plan to MassMutual Retirement Services. Joe Samples, business manager with Local 466, remarks, “Several factors influenced Local 466’s selection of MassMutual as its new retirement provider, including MassMutual’s active use of union labor, commitment to member education and to the retirement business overall. The Board of Trustees is most impressed with MassMutual’s highly experienced and dedicated account management team and local retirement education support. The team’s deep understanding of the Taft-Hartley market has already improved the day-to-day administration of the plan and allows the trustees to focus on other priorities.”
“MassMutual is pleased with the growth of our Taft-Hartley retirement services client base and welcomes all the clients and members who joined the MassMutual family in 2013. We look forward to helping the members of all our valued Taft-Hartley plans save for a successful retirement,” adds Buffington.
MassMutual has been serving the Taft-Hartley retirement plan market for more than 40 years. For more information about MassMutual’s Taft-Hartley retirement services, please contact your retirement advisor or Doug DeNigris, national Taft-Hartley practice leader at MassMutual, (978) 430-4602 or (866) 444-2601.
Founded in 1851, MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyowners. The company has a long history of financial strength and strong performance, and although dividends are not guaranteed, MassMutual has paid dividends to eligible participating policyowners consistently since the 1860s. With whole life insurance as its foundation, MassMutual provides products to help meet the financial needs of clients, such as life insurance, disability income insurance, long term care insurance, retirement/401(k) plan services, and annuities. In addition, the company’s strong and growing network of financial professionals helps clients make good financial decisions for the long-term.
MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliated companies and sales representatives. MassMutual is headquartered in Springfield, Massachusetts and its major affiliates include: Babson Capital Management LLC; Baring Asset Management Limited; Cornerstone Real Estate Advisers LLC; The First Mercantile Trust Company; MassMutual International LLC; MML Investors Services, LLC, Member FINRA and SIPC; OppenheimerFunds, Inc.; and The MassMutual Trust Company, FSB.
MassMutual’s Retirement Services Division has been serving retirement plans for more than 65 years. It offers a full range of products and services for corporate, union, nonprofit and governmental employers' defined benefit, defined contribution and nonqualified deferred compensation plans. It serves approximately 3 million participants.