New wholesalers and website underscore MassMutual’s commitment to TPAs to continue growing in the retirement plans marketplace
SPRINGFIELD, Mass., Aug. 20, 2019 – Massachusetts Mutual Life Insurance Company (MassMutual), as part of its commitment to continue growing its retirement plans business, is enhancing field support and providing new digital tools for third party administrators (TPAs) that support 401(k)s and other defined contribution retirement plans.
“MassMutual recognizes the tremendous value that TPAs deliver to both employers that sponsor retirement plans and the financial advisors that support them,” said Lynn Roy, Workplace National TPA Channel Leader. “We want to accelerate our growth in the TPA marketplace by enhancing our ability to support TPAs and the retirement plans they help.”
The enhancements include the addition of three TPA field support staff and launching a new website to provide tools and information for TPAs that work with MassMutual. The website provides TPAs with information about MassMutual’s TPASmart program and how it supports their efforts, materials for TPAs to promote their capabilities, a fiduciary calendar for administering retirement plan regulatory requirements, and information about MassMutual’s TPA incentive program.
TPAs provide a wide range of support for retirement plans, including plan design, participant enrollment, administration and regulatory guidance. TPAs provide support for 66% of MassMutual’s retirement plans.
MassMutual has increased its TPA field support unit with three new appointments:
- Kathy Lake is TPA Market Director for the Southern Division. Previously, Lake was a Client Engagement Manager for MassMutual retirement plans. She has more than 20 years of experience in retirement education, sales and service center operations and has held management positions at Jackson National Life and The Hartford.
- Lynette Golly is TPA Market Director for the Central Division. She joined MassMutual in 2015 after owning her own TPA firm for nearly 25 years. Most recently, Golly served as Client Engagement Manager for MassMutual, supporting retirement plans and voluntary benefits.
- Rob Ayers is TPA Champion, responsible for deepening and enhancing MassMutual’s relationships with payroll providers. Ayers most recently was Managing Director of Benefits in MassMutual’s Worksite Solutions. His experience also includes TPA Market Development and Managing Director in MassMutual’s Emerging Markets and more than 10 years in various sales roles, including with Merrill Lynch.
The new additions join Kellen Craig, who is based in Arizona and covers the Western Division, and Sean Miller, based in Enfield, Conn., who covers the Northeast Division.
“Enhancing our TPA coverage and support helps solidify and grow our relationships and sales with TPAs across the country,” Roy said. “MassMutual wants to promote the value of TPAs to our clients to help them continue to make their retirement plans as effective as possible.”