Products March 29, 2011

MassMutual Introduces Tool to Measure Retirement Readiness

March 29, 2011 (PLANSPONSOR.com) - MassMutual's Retirement Services Division has introduced a new tool that will help answer retirement plan participant readiness questions.
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MassMutual’s new RetireSmart Ready tool provides participants with a simple way to calculate and implement saving rates and asset allocation strategies that may significantly increase their chances of achieving enough income in retirement. It is personalized for an individual participant’s goals and preferences, and is available to all participants on the MassMutual retirement services platform.  

MassMutual last month launched its enhanced RetireSmart participant education solution (see MassMutual Retirement Launches Participant Education Solution).  

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In addition, MassMutual announced that this summer it plans to introduce its new PlanSmart Analysis report, a plan-level solution that not only includes activity-based metrics like deferral and participation rates and asset allocation, but also assesses the percentage of employees who are on track to replace a specified level of income in retirement.  

For more information regarding MassMutual Retirement Services, call 1-866-444-2601.
Compliance March 29, 2011

Supreme Court Hears Arguments in Giant Wal-Mart Bias Case

March 29, 2011 (PLANSPONSOR.com) – The U.S. Supreme Court on Tuesday began hearing arguments in a class action gender bias suit against Wal-Mart that could involve up to 1.5 million women employees, the Associated Press reports.
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In particular, the justices will be considering whether it is proper to allow a large number of plaintiffs spread around the country to sue together under anti-discrimination laws for money damages (see High Court to Hear Giant Wal-Mart Class Action). Wal-Mart Stores Inc. v. Betty Dukes, et al. (No 10-277) involves allegations the giant retailer was biased against women in salary and promotion opportunities.  

The 9th U.S. Circuit Court decided in April 2010 that women who have worked at Wal-Mart since 2001 should be permitted to move forward as a group to press their allegations the retailer paid women less than men for the same work and gave females fewer promotional opportunities.  

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According to the AP, the women suing Wal-Mart say the company would have no reason to change its practices if it succeeds in forcing them to sue individually.  

Wal-Mart denies any discrimination.

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