Participants can now enroll automatically through ExpressEnroll(SM),
MassMutual's new online tool
SPRINGFIELD, Mass., June 12 /PRNewswire/ -- The Retirement Services Division of Massachusetts Mutual Life Insurance Company (MassMutual) announced today that a newly designed feature for its participant web site, The Journey(SM), 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.
MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliated companies and sales representatives. MassMutual and its subsidiaries had more than $500 billion in assets under management at year-end 2007. Assets under management include assets and certain external investment funds managed by MassMutual's subsidiaries.
Founded in 1851, MassMutual is a mutually owned financial protection,
accumulation and income management company headquartered in Springfield,
Mass. MassMutual's major affiliates include: OppenheimerFunds, Inc.; Babson
Capital Management LLC; Baring Asset Management Limited; Cornerstone Real
Estate Advisers LLC; MML Investors Services, Inc., member FINRA and SIPC
(http://www.finra.org and http://www.sipc.org); MassMutual International LLC and The
MassMutual Trust Company, FSB. MassMutual is on the Internet at
Contact: Mark Cybulski
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