As part of a broader initiative to capture leadership of the small or emerging retirement plan marketplace, MassMutual Retirement Services is introducing an enhanced 401(k) product designed for employers with less than $15 million in retirement assets.
Initially available through The Hartford’s Retirement Service Group before it was purchased by MassMutual in 2013, MassMutual Aviator is being reintroduced with several enhancements, including a new lineup of investment options and money managers.
It includes several features designed to help small businesses provide their employees with an effective, comprehensive retirement savings and preparation program:
- Fiduciary Assure, a co-fiduciary and investment selection service offered through Mesirow Financial®;
- MassMutual Lifetime Income, a unique investment option that allows plan participants to turn their retirement savings into retirement income by purchasing $10 units of monthly income to cover their basic living expenses;
- Model My Goals enables participants to allocate their investments among one of five asset allocation models: conservative, moderate conservative, moderate, moderate aggressive and aggressive;
- RetireSMARTTM retirement planning tools, including a website with a wide array of savings accumulation and income modeling tools; and
- MassMutual’s nationwide network of 80 education specialists who help participants plan for retirement in one-on-one sessions, group meetings and webinars.
For more information on MassMutual's value-adds for advisors, visit their NAPA Partner Corner page.
