For more stories like this, sign up for the PLANADVISERdash daily newsletter.
Products April 11, 2019
MassMutual PRT Annuitants Offered Enhanced Website
The company has improved navigation, provided more self-service features and information, and offered mobile access.
Reported by Rebecca Moore
As the growth of its pension risk transfer (PRT) business accelerates, Massachusetts Mutual Life Insurance Company (MassMutual) has enhanced its website to serve PRT annuitants, improving navigation, providing more self-service features and information, and offering mobile access.
“The website is a home for annuitants whose employers or former employers have selected MassMutual for a pension risk transfer annuity,” says Keith McDonagh, head of MassMutual’s Institutional Solutions unit.
Both active annuitants (who are receiving annuity payments) as well as deferred annuitants (those who have not yet elected to receive payments) can go to MassMutual’s website to access information about their annuity, as well as update their records. Annuitants are able to view information about their annuity payments, tax withholding, tax reports, history and beneficiaries. In addition, annuitants can go to the site to enroll in direct deposit, access online forms and update their mailing address. The website is fully compatible with mobile devices.
The new portal also allows for easy access to other products and services an annuitant may have with MassMutual.
“Through strategic investments in new capabilities, we aim to become the provider of choice for employers seeking to transfer their pension risks to a financially strong and capable provider,” says McDonagh.