MassMutual Retirement Services Reports Highest Sales Month in History
SPRINGFIELD, MA, October 29, 2009 -- September marked MassMutual Retirement Services Division's highest sales month in history. September sales totaled nearly a billion -- $979.2 million to be exact -- representing the highest monthly total in the division's 60+year history, and contributing to record Q3 sales of $1.7 billion as well.
"Advisors have identified MassMutual as a retirement plan provider of choice in a very competitive market," says Hugh O'Toole, senior vice president of sales and client management for MassMutual's Retirement Services Division. "A lot of plan consolidation is taking place and those plans that are changing providers want a seamless transition. MassMutual's world-class service and expertise in consolidating multiple plans of different types are differentiators. As such, we also have a very strong pipeline of prospective sales across the organization."
September's exceptional sales results included plans under MassMutual's fully bundled and TPA service models in defined contribution, defined benefit, nonprofit, Taft-Hartley and PEO markets, as well as roll-in and First Mercantile's collective investment trust product.
"We're confident that our sales results in September are evidence of several positive trends we're seeing at MassMutual," states Elaine Sarsynski, executive vice president of MassMutual's Retirement Services Division and chairman and CEO of MassMutual International LLC. "Retirement plan advisors and plan sponsors are looking for a provider that is financially strong and here for the long term, and MassMutual is very well positioned in this regard."
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. For more information, visit massmutual.com.
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