New Products and Services.MassMutual Tailors 401(k) for Third-Party Administrators: MassMutual Retirement Services, Springfieid, Mass., has introduced a version of its fully bundled bun·dle n. 1. A group of objects held together, as by tying or wrapping. 2. Something wrapped or tied up for carrying; a package. 3. Biology A cluster or strand of closely bound muscle or nerve fibers. 401(k) product for use with smaller plans offered through a select group of third-party administrators. The TPA (Transient Program Area) See transient area. TPA - Transient Program Area Alliance product is for plans of less than $10 million in assets, while the company's fully bundled plan is for plans with $10 million to $300 million. Enrollment, testing, plan administration and other services are included. MassMutual has conducted a screening and monitoring process to select about 40 third-party administrators across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Beverly Beverly, city (1990 pop. 38,195), Essex co., NE Mass., on Massachusetts Bay; inc. as a city 1894. Its chief manufactures are electronic and scientific equipment, consumer goods, and chemicals. Holmes, vice president and head of the TPA Alliance unit, said the company targets administrators either owned by or affiliated with large CPA (Computer Press Association, Landing, NJ) An earlier membership organization founded in 1983 that promoted excellence in computer journalism. Its annual awards honored outstanding examples in print, broadcast and electronic media. The CPA disbanded in 2000. firms located near pockets of producers. The alliance unit seeks plans 3 to 5 years old. "Our experience shows us that the well-established plans tend to have a more sophisticated sponsor and participants who appreciate the value inherent in our offering," Holmes said. "They are ready for the next step up in a 401(k)." |
|
||||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion