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Products February 10, 2000
Defined Benefit Statement Receives Award
October 2, 2000 (PLANSPONSOR.com) - Plan sponsors
now have a better way to communicate misunderstood and
sometimes underappreciated pension benefits. For the first
time ever, a defined benefit statement has received the
DALBAR Seal for Communications, awarded to an enhanced
version by MassMutual Retirement Services.
Reported by editors@plansponsor.com
The seal recognizes communications that demonstrate a level of excellence that is exceptional in the industry.
The DB statement shares the look and style of MassMutual’s DC/401(k) statement, which was also the nation’s first DC/401(k) statement to win the DALBAR Seal.
The DB statement was developed in partnership with R.R. Donnelley Financial, the financial printing company that also prints and mails the statements for MassMutual Retirement Services.
The enhanced DB statement features:
- Benefit information and a contact for questions
- A summary offering a quick overview of the participant’s benefits
- Several graphs and charts illustrating the DB plan’s role in the participant’s long-term financial plan, including replacement ratios, projected retirement benefits, and, for cash balance plans, current account values and account growth.
MassMutual Retirement Services serves more than 80,000 DB participants, with nearly $9 billion in DB assets. It is also part of DB joint ventures with Wells Fargo Bank and First Union Bank.
– Nevin Adams editors@plansponsor.com