Liberty Behavioral Management Corp. Transitions Its 401(k) Plan to MassMutual
(Enfield, CT) – MassMutual’s Retirement Services Division has been selected by Liberty Behavioral Management Corp. of Ramsey, N.J. as the new recordkeeper for the company’s 401(k) retirement plan. The plan has approximately $22 million in assets under management and serves more than 550 participants.
Liberty Behavioral Management Corp. manages three facilities that provide high-quality, cost-effective services to patients and their families. The facilities offer the full continuum of care – inpatient, day hospital and outpatient behavioral health care services. The facilities treat patients with a wide range of psychiatric diagnoses and disorders as well as addictions to alcohol and chemical substances.
“MassMutual’s strong demonstration on participant education and communication made them a clear choice,” said Jerry Johnson, chief financial officer with Liberty Behavioral Management Corp. “We saw right away that MassMutual has what it takes to offer highly effective tools and programs to help our employees make the most of their 401(k)s. Our transition manager was exceptional and her complete understanding of the conversion process and our 401(k) plan ensured a smooth and timely transition overall. We are excited to leverage all that MassMutual has to offer to help our employees prepare for a successful retirement,” added Johnson.
“MassMutual is delighted to welcome Liberty Behavioral Management Corp. as a valued new retirement services client, and we look forward to helping every participating employee reach their retirement savings goals,” said Elaine Sarsynski, executive vice president of MassMutual’s Retirement Services Division and chairman of MassMutual International LLC.
For more information about MassMutual’s Retirement Services Division, please contact your financial professional or call MassMutual at 1-800-874-2502, option 4.
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 2.8 million participants.