Massachusetts Mutual Life Insurance Company is launching an expanded and more flexible investment platform designed specifically for defined benefit pension plans.
Developed with Matrix Financial Solutions, a Broadridge company, 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.
“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,” Michael O’Connor, Head of MassMutual’s Defined Benefit business, said in a statement announcing the 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.
