MassMutual Achieves 76% YTD Increase in Nonprofit Retirement Plan Sales
(Springfield, MA) - MassMutual’s Retirement Services Division has recorded a 76% increase in nonprofit retirement plan sales through October 31, 2009 vs. the same period last year.
According to Hugh O’Toole, senior vice president and head of sales and client management for MassMutual’s Retirement Services Division, MassMutual’s nonprofit expertise and financial stability are attractive to advisors and their clients in the nonprofit space. “MassMutual’s strength in consolidating multiple plans under a single provider is highly valued in this market,” says O’Toole. “In addition to tremendous growth in the healthcare market, MassMutual has achieved sales success in several nonprofit sub niches including charitable 501c(3) organizations, private education, and religious organizations,” he adds.
“We recently completed the consolidation of $100 million in retirement plan assets from 403(b), 401(a), 457(b) and 457(f) retirement plans for a large healthcare organization with more than 3,200 employees,” says M. Palmer Whitney, national managing director for MassMutual’s nonprofit market. “The nonprofit market presents unique challenges and the regulatory environment can be overwhelming for plan sponsors. Even in complex situations, MassMutual has the expertise to achieve a smooth, successful transition.”
For more information about MassMutual’s retirement services, please call your retirement plan advisor or contact MassMutual at (888) 626-4911.
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