MassMutual's new investment platform for defined benefit pension plans offers plan sponsors more flexibility, more choice, ease of administration

New platform was developed in collaboration with Matrix Financial Solutions, a Broadridge company

SPRINGFIELD, Mass., March 21, 2019 – Massachusetts Mutual Life Insurance Company (MassMutual) is launching a new, expanded and more flexible investment platform designed specifically for defined benefit (DB) pension plans. The new platform was developed with Matrix Financial Solutions, a Broadridge company1.

The new platform provides financial advisors and plan sponsors with access to enhanced reporting and on-line functionality, offers more registered investment options as well as the ability to customize investment offerings, and improves the plan sponsor experience. The platform aims to simplify the process of evaluating and selecting investment options and is supported by MassMutual’s DB pension team that provides a consultative, client-focused approach.

“Our new investment platform is the latest installment of MassMutual’s longer-term strategy to capture a greater share of the DB market and expand our up-market capabilities to support larger pension plans of $200 million or more,” said Michael O’Connor, Head of MassMutual’s Defined Benefit business. “We are upping our game by providing advisors and plan sponsors with greater flexibility, more choices, and ease of doing business as we become more digitally enabled as a DB plan provider.”

“Leveraging our leading technology, MassMutual is now able to provide a seamless client experience which is paramount to success in the DB large plan market,” said Cindy Dash, Senior Vice President and General Manager, Matrix. “We believe our technology creates an immediate, positive impact for their clients and helps attract future business to their platform.”

The new platform offers enhanced self-service reporting capabilities for easier, simplified administration. Sponsors and advisors can generate in-depth reports on trusts, measure investment performance against benchmarks, and create custom reports on individual plans. MassMutual serves more than 2,600 DB plans totaling more than $20 billion in assets under administration as of Dec. 31, 2018.

The introduction of the investment platform is the latest installment of MassMutual’s broader strategy to expand its support of the DB pension plan marketplace. The company launched its PensionSmart Analysis tool, which provides insights into an employer’s issues and opportunities by examining the plan’s current status, funding level, and service structure. MassMutual’s pension experts can then assess the pension plan’s health and make recommendations to the sponsor about appropriate options.

MassMutual has also introduced customized pension yield curves to help plan sponsors measure their pension obligations in a more informed and transparent way. The yield curve provides an improved benchmark to calculate the value of pension liabilities that gets reflected in a plan sponsor’s balance sheet, and profit and loss statement.

“MassMutual is simplifying the complex to help plan sponsors more effectively manage their pension plan risks, achieve their pension plan goals, and honor their promises to workers and retirees,” O’Connor said. “We want to be the provider of choice for employers that sponsor pension plans.”

Matrix Financial Solutions is a leading provider of TrueOpenTM retirement products and services for third party administrators, financial advisors, banks and other financial professionals. Matrix serves more than 400 financial institutions with over $300 billion in customer assets processed through its trading platform. For more information about Matrix, please visit www.broadridge.com.

1Neither Matrix Financial Solutions, nor Broadridge is affiliated with MassMutual or any of its subsidiaries.

About Broadridge
Broadridge Financial Solutions, Inc. (NYSE: BR), a $4 billion global Fintech leader and a part of the S&P 500® Index, is a leading provider of investor communications and technology-driven solutions to banks, broker-dealers, asset managers and corporate issuers globally. Broadridge’s investor communications, securities processing and managed services solutions help clients reduce their capital investments in operations infrastructure, allowing them to increase their focus on core business activities. With over 50 years of experience, Broadridge’s infrastructure underpins proxy voting services for over 50 percent of public companies and mutual funds globally, and processes on average more than US $5 trillion in fixed income and equity trades per day. Broadridge employs over 10,000 full-time associates in 18 countries.

About MassMutual
MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyowners. MassMutual offers a wide range of financial products and services, including life insurance, disability income insurance, long term care insurance, annuities, retirement plans and other employee benefits. For more information, visit www.massmutual.com.