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Products June 12, 2008
MassMutual Allows Online 401(k) Sign-Up
MassMutual’s Retirement Services Division unveiled a Web site feature giving participants easy sign-up for their 401(k) plan.
Reported by Fred Schneyer
Participants can access the ExpressEnroll feature from the homepage of MassMutual’s participant Web site, The Journey, a press release said. The tool provides preset contribution rates and asset allocations that employees can later modify.
“MassMutual’s new ExpressEnroll changes the participant’s experience from one that can be complex and confusing to one that is easy and simple,” said Elaine A. Sarsynski, executive vice president of MassMutual’s Retirement Services Division, in the release. “This enhancement helps to overcome what can be a barrier to joining the plan and helps them get a faster start toward financial security in retirement.”
Once enrolled, employees receive guidance on other ways they can use the Web site, such as for investment education, changing investments or contribution rates, retirement planning, or updating beneficiaries, MassMutual said.