Insurance, Annuities, and Investments
Frequently Asked Questions
Below you will find answers to questions commonly asked by participants under a group annuity contract issued by MassMutual.
About My BenefitWhat is a Group Annuity Contract?
A group annuity contract is a financial product sold by an insurance company such as MassMutual. There are a number of different types of group annuity contracts. This website describes group annuity contracts under which MassMutual provides guaranteed annuity benefits to individuals covered under the contract. Payments are made for each recipient’s lifetime, and, if applicable, for the lifetime of the contingent or joint annuitant thereafter or for a guaranteed period of time.
You became covered because your employer purchased a MassMutual group annuity contract to provide benefits to which you were entitled under a defined benefit pension plan sponsored by your employer (or former employer).
Plan sponsors choose to purchase group annuity contracts for a variety of reasons. Once a group annuity contract has been purchased the pension plan is no longer responsible for paying the participant benefits covered under the contract. Instead, the insurance company becomes financially responsible for making those benefit payments. MassMutual has been in the business of paying guaranteed benefits for over 30 years and is well positioned to ensure that that you will continue to receive your benefits.
When an insurance company has assumed an obligation to make payments to individuals under a group annuity contract, the insurer issues a document called a certificate to each covered individual. The certificate specifies the payments guaranteed to each individual under the contract. The process to prepare and issue certificates to each individual covered under a group annuity contract can take some time. However, the individual’s right to receive benefits under the contract is not dependent on whether a certificate has been issued to them.
Please review the information in your certificate. If the mailing address is incorrect, you may be able to update it online. To update your address online, please log in and click on your Pension Annuity tile. ‘Change an Address’ is available in the Quick Actions menu. For all other updates, please contact the MassMutual Participant Information Center at 1-800-775-4331.
A Contract Number is a unique identifying number MassMutual has assigned to the group annuity contract issued with respect to your plan. Whenever you contact us by phone or mail you should reference your Contract Number, because it helps us locate your records on our administrative systems and enables us to better serve you.
The gross amount of your monthly benefit will not change. However, the amount of the monthly payment you receive is net of taxes that are withheld. If MassMutual withholds a different amount of taxes, the net payment you receive may change. The other change you will see is in who makes your monthly payment; it does not affect the gross amount of your monthly payment.
While your annuity payment will be taxed in the same way as your pension payment, different providers may have different interpretations of state tax laws, which may result in your receipt of a different after-tax payment. Please note: If you received payments from your employer in the year the MassMutual group annuity contract became effective you will receive two separate tax forms for the current year reflecting the payments you received from the Plan and the payments you received from MassMutual.
No, MassMutual will not charge you any fees.
Founded in 1851, MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policy owners. The company has a long history of financial strength and strong performance. 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.
MassMutual 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. You can find additional information on the company website: www.massmutual.com.
Online CapabilitiesWhat if some of the personal information I see listed on this website is incorrect?
If your mailing address is incorrect, you may be able to update it online. To update your address online, please log in and click on your Pension Annuity tile. ‘Change an Address’ is available in the Quick Actions menu. For all other updates, please contact the MassMutual Participant Information Center at 1-800-775-4331.
Yes. If you are currently receiving a pension annuity distribution from MassMutual, you can download a Verification of Income document. Please log in and click on your Pension Annuity tile. ‘Verification of Income’ is available in the Quick Actions menu. Depending on your internet browser settings, the .pdf document will either download automatically to your pre-determined folder or it will appear in a new browser window.
If you have not started to receive pension annuity distributions, a Verification of Income document will not be available.
Yes. If you received a pension annuity distribution from MassMutual last year, you will receive a Form 1099-R by mail to file with your income tax return. To download your Form 1099-R online, please log in and click on your Pension Annuity tile. ‘View 1099s’ is available on the Quick Actions menu. Depending on your internet browser settings, the .pdf document will either download automatically to your pre-determined folder or it will appear in a new browser window.
MassMutual will mail your Form 1099-R for the previous tax year no later than January 31st, and they are typically available online by the end of February.
No. However, if you are currently receiving a pension annuity distribution from MassMutual, you may download a W-4P form online. To obtain a W-4P form online, please log in and click on your Pension Annuity tile. Click on the Tax Withholding tab, then click on the Edit link. You will be presented with the tax withholding form and return mailing address. Please complete the form and return to MassMutual.
Your payment history begins on the date MassMutual starts making payments to you. In the event you require historic information concerning your account, you will need to contact your previous employer.
Yes. If you prefer to receive a direct deposit advice statement, please contact the MassMutual Participant Information Center at 1-800-775-4331 for details.
No. If you are currently receiving a pension annuity distribution from MassMutual, you are only able to update your beneficiary under certain circumstances. If you have not started to receive pension annuity distributions, you may still elect a beneficiary. To obtain your options, please contact the MassMutual Participant Information Center at 1-800-775-4331.
Log In IssuesWhat if I forgot my password?
If you have forgotten your password, there is a link on the login page to reset it. Click the “Forgot password?” link and follow the instructions to regain access to your account.
In order to regain access to your account you will need to call MassMutual Participant Information Center at 1 (800) 775-4331.
Questions or Concerns
1 (800) 775-4331
Monday - Friday 8 a.m. - 8 p.m. ET
When you call, please have your Social Security Number ready to expedite your Customer Service experience.