MassMutual Retirement Services of Springfield, Mass., has revamped its web site with a sophisticated calculator for its defined contribution and defined benefit customers. The calculator automatically lifts information on client accounts out of various MassMutual records into an analytical engine capable of processing various scenarios for a shareholder's retirement. Also, the calculator stores whatever new information the customer supplies to it. The calculator can even automatically re-balance a shareholder's portfolio.
Many mutual funds' retirement services divisions have published calculators, or have even posted them on-line on their web sites. But unlike MassMutual's calculator, called The Journey, these are static tools into which investors must manually supply data. And they cannot recalculate projections based on changes in status such as income, retirement age and company match levels as The Journey can.