Nevada's Washoe County renews $144.6 million retirement savings plan with MassMutual

Nov. 23, 2015 Tagged as

County sponsors 457(b) and 401(a) defined contribution plans for the county’s employees

Reposted Nov. 23, 2015, on behalf of MassMutual Financial Group

ENFIELD, Conn. – Nevada’s Washoe County renewed MassMutual Retirement Services as the recordkeeper for two defined contribution retirement plans with $144.6 million in combined recordkeeping assets for 2,245 participants as of Sept. 30, 2015. The new recordkeeping agreement runs through December 2020.

Washoe County sponsors a 457(b) plan with $135.4 million in assets and a 401(a) plan with $9.2 million in assets. Of the active county employees eligible for the plan, approximately 70 percent participate.

“We are pleased to continue serving as the retirement plan provider for Washoe County and its employees,” said Elaine Sarsynski, Executive Vice President of MassMutual Retirement Services & Worksite Insurance. “We pledge to continue doing our utmost to deploy all of our resources to help county employees prepare to retire on their own terms.”

“MassMutual Retirement Services has been effective in helping Washoe County employees prepare for retirement and make the most of their retirement plans,” said Ashley Farmer, Benefits Manager for the County. “The majority of our employees participate in the county’s retirement savings plans and, with MassMutual’s help, we hope all of our employees will avail themselves of this important benefit and retire in comfort.”

The retirement savings plans are available to county employees who work in the Social Services, Sheriff’s Office, District Attorney, District Health, Roads, Animal Services, Senior Services, Libraries and other departments. Washoe County is located on the eastern slopes of the Sierra Nevada Mountains bordering California and Oregon.

MassMutual serves more than 35,000 retirement plan sponsors nationwide with approximately three million participants and $155 billion in recordkeeping assets.

For more information about MassMutual’s Retirement Services Division, please contact your financial professional or call MassMutual at 1-800-874-2502, option 4.

# # #

About MassMutual

Founded in 1851, MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyowners. The company has a long history of financial strength and strong performance, and although dividends are not guaranteed, MassMutual has paid dividends to eligible participating policyowners consistently since the 1860s. With whole life insurance as its foundation, MassMutual provides products to help meet the financial needs of clients, such as life insurance, disability income insurance, long term care insurance, retirement/401(k) plan services, and annuities. In addition, the company’s strong and growing network of financial professionals helps clients make good financial decisions for the long-term.

MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliated companies and sales representatives. MassMutual is headquartered in Springfield, Massachusetts and its major affiliates include: Babson Capital Management LLC; Baring Asset Management Limited; Cornerstone Real Estate Advisers LLC; The First Mercantile Trust Company; MassMutual International LLC; MML Investors Services, LLC, Member FINRA and SIPC; OppenheimerFunds, Inc.; and The MassMutual Trust Company, FSB.

For more information, visit www.massmutual.com or find MassMutual on Facebook, Twitter, LinkedIn, YouTube, Google+ and Pinterest. For information regarding MassMutual’s Retirement Services Division, you may also visit massmutual.com/retire or find us on Facebook.com/RetireSmart and YouTube.com/RetireSmart.

RS: XXXXX-00

There are currently no similar stories.