MassMutual Offers Education Resources in Response to PPA
SPRINGFIELD, MA, October 23, 2006 /PRNewswire/ -- In response to the recent Pension Protection Act (PPA) legislation, MassMutual Retirement Services has developed a comprehensive education program to help plan sponsors, financial professionals and participants understand the impact of the legislation on defined contribution and defined benefit plans and to provide tools and resources to help them address the resulting challenges and opportunities.
MassMutual's robust PPA program includes a series of online education sessions for plan sponsors and financial professionals that specifically address the respective implications for defined benefit and defined contribution plans. Sessions are designed to help sponsors and financial professionals gain a thorough understanding of plan impacts and options. A number of sessions have already taken place and they will be offered on an ongoing basis to meet demand.
MassMutual is also offering a free PPA Summary booklet that details the legislation and describes MassMutual services available to help sponsors fulfill their fiduciary obligations and address new opportunities surrounding the PPA. MassMutual is developing several white papers that provide in-depth analysis of PPA legislation, potential cash flow impacts of the safe harbor automatic enrollment option, alternatives to freezing a DB plan and other important considerations.
To assist plan sponsors in educating participants, MassMutual plans to incorporate key messages on future participant statements and will make payroll stuffers available to plan sponsors for use at their discretion. MassMutual will continue to provide PPA updates on dedicated Web sites for sponsors, financial professionals and participants, and will deliver time-sensitive information electronically through standard communication channels as well.
To register for an online education event or to request a copy of PPA materials, plan sponsors and financial professionals should contact their MassMutual representative directly. For more information about MassMutual Retirement Services, please contact MassMutual at 1.888.626.4911, http://www.massmutual.com/retire.
About MassMutual
MassMutual's Retirement Services Division has been serving retirement plans for 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, and serves more than one million participants.
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