SPRINGFIELD, Mass. - Massachusetts Mutual Life Insurance Co. redesigned its investment education for 401(k) plan investors and this month is introducing asset allocation funds to accompany the new program.
The three-part educational program progressively guides employees from basic investment tenets to total retirement planning and includes a series of worksheets to help employees determine their risk tolerance profiles.
The four new life cycle-style funds, called the Destiny Funds, will be managed to meet the varying participant risk profiles suggested by the program, said Mary Knight, assistant vice president. The new funds will allocate investments to Mass Mutual's other separate accounts.
Mass Mutual will also begin to distribute a customized version of 401(k) Dimensions, a quarterly participant newsletter, published by RAI, a division of Hearst Business Communications Inc., Garden City, N.Y.
Rounding out its investment lineup, Mass Mutual also is introducing this month three new growth-oriented equity separate accounts. The funds will invest in shares of three mutual funds. The three funds, managed by Oppenheimer Management Corp., New York, are: Total Return Fund Inc., the Special Fund, and the Discovery Fund.
Mass Mutual up until now has provided only value-oriented equity pooled funds. Oppenheimer has been managing the Mass Mutual International Equity fund.
The seven new funds bring Mass Mutual's separate account fund family to 15.
Ms. Knight said Mass Mutual also is scheduled to introduce its own family of mutual funds sometime in the autumn. However, she could not provide more details because of Securities and Exchange Commission registration restrictions.
