MassMutual Announces Web Site Enhancement That Helps Employees Save for Retirement Sooner
Participants can now enroll automatically through ExpressEnrollsm, MassMutual’s new online tool
(Springfield, Mass.) - The Retirement Services Division of Massachusetts Mutual Life Insurance Company (MassMutual) announced today that a newly designed feature for its participant web site, The Journeysm, will allow retirement plan participants to enroll in their employers’ 401(k) plan more quickly and easily than ever before.
On the home page a new tool – ExpressEnroll – allows employees to join their retirement plan with just two clicks of their mouse. ExpressEnroll makes the process easy by providing pre-set contribution rates and asset allocations that employees can keep if they choose to, or later modify.
“MassMutual’s new ExpressEnroll changes the participant’s experience from one that can be complex and confusing to one that is easy and simple,” says Elaine A. Sarsynski, executive vice president of MassMutual’s Retirement Services Division. “This enhancement helps to overcome what can be a barrier to joining the plan and helps them get a faster start toward financial security in retirement.”
According to Paul Steven Henry, vice president of product development, ExpressEnroll provides simple steps for enrolling: confirm the pre-set contribution rate; confirm the pre-set investment allocation, and enroll. “The site also allows more confident or less time constrained investors to explore their investment options and plan out their investment strategy in detail, before enrolling,” says Henry. Once enrolled, employees receive guidance on other ways they can use The Journey Web site, such as for investment education, changing investments or contribution rates, retirement planning, or updating beneficiaries.
“With ExpressEnroll, it is our hope that newly eligible employees will enroll sooner in their employers’ retirement plans, and get an earlier start at saving for retirement,” adds Henry.
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