October 21, 2014

    MassMutual Expands Support for Taft-Hartley Retirement Plans

    MassMutual Expands Support for Taft-Hartley Retirement Plans

    The retirement plans provider adds new relationship and sales managers to keep pace with its fast-growing union-sponsored retirement plans practice

    (Enfield, CT) – MassMutual’s Retirement Services has expanded its sales and relationship management teams to keep pace with its fast-growing Taft-Hartley retirement plans practice and the retirement savings needs of unionized workers.

    The addition of three new relationship managers and two new sales consultants means MassMutual has one of the largest staffs dedicated to Taft-Hartley retirement plans in the marketplace, according to Doug DeNigris, National Practice Leader. The new staff is needed to keep pace with growth as MassMutual now serves more than 140 retirement plans sponsored by unions representing more than 278,000 members and $11.25 billion in retirement plan assets under management as of June 30, 2014.

    “MassMutual is aggressively growing its share of the Taft-Hartley retirement plan marketplace, adding 50 new plan sponsors and more than $4 billion in assets since 2012,” Mr. DeNigris said. “We are continuing to invest in our team and dedicate resources to this business. MassMutual offers unsurpassed support to the retirement savings needs of unionized workers.”

    The retirement plans provider, with more than 40 years of experience in the Taft-Hartley market, now has eight relationship managers and five sales staff dedicated to Taft-Hartley plans. The new hires are as follows:

    Chad Girard was named Sales Consultant, providing internal support and resource management for the sales team. Mr. Girard joins MassMutual from Mercer and has more than 16 years of administrative experience in the market.

    Dan Krause was appointed Business Development Consultant and will manage MassMutual’s union construction practice, strengthening relationships with building trade groups and providing event coordination and marketing. He joins MassMutual from International Union of Operating Engineers Local 478, where he was Funds Director for more than 20 years. Mr. Krause previously served as Vice President of the Connecticut Coalition of Taft-Hartley Health Funds.

    Ken Sullivan was named Relationship Manager for MassMutual’s large Taft-Hartley retirement plan sponsors. Mr. Sullivan previously served on the Taft-Hartley team at Mercer and has 16 years of relationship management experience.

    Eric Sarrazin recently joined the Taft-Hartley relationship management team after supporting MassMutual’s TPA relationship management team for the last five years. In his 17-year career at MassMutual, Mr. Sarrazin has served in numerous capacities, including Taft-Hartley Account Manager and National Accounts Communications Consultant.

    Ron Packingham was named Relationship Manager after having worked as a Retirement Education Specialist and Registered Representative for MassMutual for the past eight years. Mr. Packingham brings 13 years of experience servicing retirement plan sponsors in the Midwest and will be based in St. Louis.

    In addition, MassMutual promoted Joe Carmignani to Assistant Vice President and Manager of the Taft-Hartley relationship management team and John Dolan to Managing Director of the Taft-Hartley sales team.

    Prior to the promotion, Mr. Carmignani served as Relationship Manager on the Taft-Hartley team for six years supporting some of MassMutual’s largest clients. He has 20 years of experience in the retirement services industry, including seven years servicing Taft-Hartley plan sponsors at New York Life.

    Mr. Dolan spent the last nine years as a Taft-Hartley relationship manager, including six years as part of MassMutual’s team. Previously, he worked for 12 years at Prudential Retirement serving multi-employer union plans. Mr. Dolan is now responsible for growing MassMutual’s Taft-Hartley client base in the eastern part of the United States with Bill Erlandson, continuing to cover the Midwest and West.

    “At MassMutual, we like to say that resources matter,” Mr. DeNigris said. “We’re providing more resources for our Taft-Hartley customers who have given us record high ratings in our latest third-party survey.”

    For more information about MassMutual’s Retirement Services Division, please contact your financial professional or call MassMutual at 1-800-874-2502, option 4.

    About MassMutual
    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.