MassMutual has made a number of enhancements to its RetireSMART target-date and lifecycle funds, most notably adding mutual fund options to its target-date series. Previously, only separately managed accounts through a group annuity contract were offered as target-date funds.
The funds have also been rebranded under the RetireSMART brand, Previously, the target-date funds were called Select Destination, and the lifecycle funds were called Journey.
MassMutual made the changes to position its funds more competitively and make them available to a wider range of retirement plans.
“These enhancements give MassMutual an even more compelling and competitively priced offering in a category critical to retirement investors and to our continued strong momentum within the retirement services industry,” said Eric Wietsma, senior vice president of investment services in the retirement services division at MassMutual.