Products November 29, 2010

MassMutual Enhances Plan Document Management Solution

November 29, 2010 (PLANSPONSOR.com) - MassMutual's Retirement Services Division recently introduced an enhanced system for third-party administrators (TPAs) that automates and simplifies plan document processing.
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According to a press release, benefits of the new system include:  

  • Quick and convenient plan amendment processing; 
  • Ability to create customized templates and designs at the TPA level so that many provisions can be pre-populated; 
  •  Tracking, monitoring and review of plan documents and amendment histories; 
  • Batch processing of regulatory amendments and required participant notices; 
  • Easy conversion from DC prototype to volume-submitter documents and vice versa; 
  • Software upgrades coordinated by MassMutual independently from a TPA’s system; and 
  • Technical support by MassMutual’s ERISA Advisory Services Team. 

 

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The service is available to all TPAs regardless of whether they have retirement plans on MassMutual’s platform. To request additional information or a demonstration of the new document services processing system, contact Steve Witkun at (413) 744-0744.
Products November 29, 2010

OneAmerica Launches Trust Offering

November 29, 2010 (PLANSPONSOR.com) – The Companies of OneAmerica have launched Premier Trust, targeting plans with assets of $5 million and above.
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A news release said the new offering is provided through McCready and Keene, Inc., the actuarial and consulting firm acquired by AUL parent OneAmerica in July (see OneAmerica to Acquire Plan Actuary) and will be marketed by the sales force of American United Life Insurance Company (AUL).

According to the company, the new offering features fee transparency, flexibility and a number of other benefits to financial advisers and sponsors.

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The program can utilize open architecture to provide access to more mutual funds, or plan sponsors can choose from a pre-screened line-up of 200 investment options from 30 companies under OptionOne. In addition, the program offers a customized approach based on an open investment platform and quarterly due diligence reporting, the news release said.

The program will use fee-based advisers to distribute Premier Trust initially. Registered representatives affiliated with broker-dealers will have access to the program in the first quarter of 2011.

More information is at http://www.mcak.net/mcak/.

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