Navigation Links
MassMutual's Center for Behavioral Research(sm) Releases White Paper Regarding Automatic Features in Retirement Plans
Date:3/13/2008

SPRINGFIELD, Mass., March 13 /PRNewswire/ -- MassMutual's Center for Behavioral Research has released a new white paper to share insights and best practices regarding automatic features in retirement plans. Titled "Automation: 3 Steps to a High Performance Plan," the white paper suggests important criteria that retirement plan advisors and sponsors should consider when evaluating the adoption of automatic plan features such as automatic enrollment, automatic deferral increase and automatic asset allocation.

"One of the interesting findings published in the white paper is that a high automatic deferral rate is not always a deterrent to high plan participation," says Alison Salka, Ph.D., director of MassMutual's Center for Behavioral Research(SM). "Many plan sponsors are reluctant to elect a higher default savings rate for fear of 'turning off' employees. Our findings suggest otherwise. Among approximately 400 plans with automatic features evaluated for the research, those with a default rate higher than three percent actually have higher participation rates (84%) than those defaulting at three percent or lower (72%)."

"Considering that defined contribution plans are the primary retirement savings vehicle for millions of American workers, plan advisors and sponsors need the help of providers like MassMutual in ensuring that participants accumulate sufficient retirement savings," says Elaine Sarsynski, executive vice president of MassMutual's Retirement Services Division and chairman, president and CEO of MassMutual International LLC. "Automatic features can help drive higher participation and savings rates, and can help participants invest appropriately. They are becoming an extremely effective tool in this effort."

"Automation: 3 Steps to a High Performance Plan" is available on MassMutual's Center for Behavioral Research Web site at http://www.massmutual.com/behavior along with other white papers that address topics important to the creation of an effective retirement savings plan.

"We encourage retirement plan advisors and sponsors to use MassMutual's research to help them effectively plan, design and implement a retirement benefit that really works hard for participants," says Ian Sheridan, corporate vice president and chief marketing officer of MassMutual's Retirement Services Division. In support of its commitment to educate consumers regarding financial matters, MassMutual is the exclusive sponsor of the upcoming PBS documentary, Retirement Revolution(R), being produced by WTTW National Productions in Chicago and scheduled to premiere March 31 on PBS stations across the nation.

To view the complete white paper, please visit http://www.massmutual.com/behavior.

About MassMutual

MassMutual's Retirement Services Division has been serving retirement plans for more than 60 years. It offers a full range of products and services for corporate, union, nonprofit and governmental employers' defined benefit, defined contribution and nonqualified deferred compensation plans. It serves approximately one million participants.

MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives. MassMutual and its subsidiaries have 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 http://www.massmutual.com.

Securities offered through registered representatives of MML Investors Services, Inc., a MassMutual subsidiary. MML Investors Services, Inc., member FINRA and SIPC (http://www.finra.org and http://www.sipc.org).

Contact: Lisa Reilly

413-744-0589

lreilly@massmutual.com


'/>"/>
SOURCE MassMutual's Retirement Services
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Boston Medical Center Meets Prescription Challenges With Kryptiq ePrescribing Solution
2. Echo Therapeutics Announces Positive Results from Symphony(TM) Transdermal Continuous Glucose Monitoring System Study at Tufts Medical Center
3. Harborview Medical Center Implements Latest Release of the DocuSys Solution to Improve Anesthesia Medication Safety and Documentation
4. Independence Blue Cross Announces Blue Distinction Centers for Complex and Rare Cancers(SM) in Philadelphia
5. Bariatric Surgery Center of Excellence Designation Given to Montefiore by the American College of Surgeons
6. Highmark Blue Shield and National Association Name Area Hospitals as Blue Distinction Centers for Complex and Rare Cancers
7. Hospital Caregivers Unveil Billboards Calling for Improved Patient Care, Quality Jobs at Community Medical Centers
8. Lombardi Cancer Centers Toretsky awarded prestigious Burroughs Wellcome Fund Award
9. Chamber Analysis Shows OSU Medical Center Leads Area Job Growth
10. Anthem Blue Cross and Blue Shield Acts to Support Las Vegans Impacted by Endoscopy Center Practices
11. Health Secretary Calls for Action on Health Insurance for All Pennsylvanians During Visit to Alma Illery Center in Pittsburgh
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/11/2016)... ... , ... Pixel Film Studios brings the spirit of the holiday season to ... of the ProDrop series. Pick and choose from 30 unique designs inspired by the ... using ProDrop's wintry generators. ProDrop Christmas is a Final Cut Pro X exclusive. ...
(Date:2/11/2016)... D.C. (PRWEB) , ... February 11, 2016 , ... ... will be exhibiting at the American Academy of Dermatology Annual Meeting at the ... USA's goal is to raise awareness for both the condition of hyperhidrosis (excessive ...
(Date:2/11/2016)... San Diego, CA (PRWEB) , ... February 11, 2016 , ... ... Combine which was held in San Diego, CA, on February 6th & 7th, 2016 ... NFL combine for those who were not invited to the NFL’s combine in Indianapolis,” ...
(Date:2/11/2016)... ... 11, 2016 , ... The book, “Computers Should Just Work!”, provides a basic, ... your IT consultant before signing a contract and how to spot an incompetent or ... relying heavily on e-mail and technology, it’s more important than ever to make sure ...
(Date:2/11/2016)... ... February 11, 2016 , ... As part of their 2015 end of ... Round Table Foundation (MDRTF), has gifted $10,000 to University of Chicago to support ovarian ... Billy Cundiff. , “We are honored to support a promising young investigator from Dr. ...
Breaking Medicine News(10 mins):
(Date:2/11/2016)... Korea , Feb. 11, 2016 Wearable posture tracker, ALEX , has taken Kickstarter ... funded and just seven days left to go, ALEX is said to be delivered to backers starting ... ... ... Created ...
(Date:2/11/2016)... INDIANAPOLIS , Feb. 11, 2016  Attending ... but for those with type 1 diabetes, the journey ... juggle class schedules, assignments and campus activities, they also ... diabetes. On top of that, many are living away ... Scholars Foundation (Foundation) Lilly Diabetes Tomorrow,s Leaders Scholarship ...
(Date:2/11/2016)... 11, 2016  AbbVie, a global biopharmaceutical company, ... designed to provide financial support for exceptional students ... higher education goals. Fifteen scholars will be selected ... year. The AbbVie Rheumatology Scholarship is currently accepting ... president, corporate social responsibility, brand and communications, AbbVie. ...
Breaking Medicine Technology: