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“Taking your Practice to the next Level with MassMutual” was the theme at
the 2008 TPA Conference held May 14 - 16. Hosted by MassMutual’s Retirement
Services Division at the PGA National Resort and Spa in Palm Beach, Florida,
this year’s topic reflects
MassMutual’s commitment to the investment they are making in the TPA market and
their network of Third Party Administrators.
In discussing
MassMutual’s support of the TPA channel, senior vice president of national
sales and distribution, Hugh O’Toole, stated “Our recordkeeping platform and
proven service model enable MassMutual to deliver outstanding value to all
areas of our business, whether through TPAs, our career agents, or our valued
third-party distribution channels. Each of these channels brings unique value
to the plan sponsor and the participant, and we are proud of the ways we are
helping to contribute to their success."
The keynote address
of the conference was presented by Elaine Sarsynski, executive vice president
of MassMutual's Retirement Services Division and chairman, president and CEO of
MassMutual International LLC. According to Sarsynski, "The 401(k) market
opportunity for TPAs has more than doubled in the past15 years”. She explained that this increase “is a
testament to the value TPAs bring to their clients” and that “MassMutual …..
recognizes this value and …[is] investing additional resources to help TPAs
capitalize on the growth opportunity”.
Other featured
speakers included Fred Barstein, president of 401kExchange, and Joshua Dietch,
managing director for Chatham Partners.
Barstein discussed the importance of the advisor relationship in
helping TPAs grow their business, while Dietch discussed trends in the
401(k) industry.
Also announced at the conference by Paul Steven Henry, vice president of
product development, was MassMutual’s plan to introduce a new product in the
third quarter that is designed to help TPAs nurture their business and take
advantage of openings in the nonprofit.
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