SPRINGFIELD, Mass., Feb. 20, 2013 /PRNewswire/ -- MassMutual's Retirement Services Division has been selected by Concrete Tie Industries, Inc. as the new recordkeeper for the company's 401(k) retirement plan, today serving approximately 42 participants. Assets added to MassMutual's platform from the company's retirement plan total more than $2.4 million.
Headquartered in Compton, Calif., Concrete Tie Industries, Inc. specializes in concrete products and has been in business since 1950.
"MassMutual stood out as a clear choice following our diligent search for a new retirement plan provider due to the firm's competitive fee structure and flexibility of investment options," says David Tuebner, CFP, vice president with Morgan Stanley Wealth Management, who assisted with the search. "Another key differentiator was MassMutual's strong commitment to participant education, and Concrete Tie Industries, Inc. could not be more pleased with the prompt deployment of group and personalized one-on-one educational meetings with employees," adds Tuebner.
"MassMutual's focus on participant outcomes and participant success is truly exceptional, and that has been evident throughout the sales and implementation process. In addition, as a TPA firm, we love working with MassMutual because they are a great partner and make it easy for us to do our job efficiently and effectively, which ultimately makes Concrete Tie's job easier as well. We are thrilled to be working with MassMutual on this plan!" adds Ian Salisbury, pension consultant with Actuarial Benefits Corp."The transition to MassMutual was seamless," says Steve Sim, controller with Concrete Tie Industries, Inc. "This was the second time I've moved to a new 401(k) provider and this was by far the easiest, thanks in part to our transition manager being so organized and knowledgeable with every step of the process. Participant education was also very important to us in choosing our next provider. Each of our employees had a one-on-one meeting with a MassMutual Retirement Education Specialist who walked through the process of logging in to their accounts online and making changes. Each person also received a consultation on their own personal retirement situation. We are happy to recommend MassMutual," adds Sim. "MassMutual is pleased to welcome Concrete Tie Industries, Inc. as a valued new retirement services client," says Elaine Sarsynski, executive vice president, MassMutual's Retirement Services Division and chairman and CEO of MassMutual International LLC. "We are proud to offer our highly effective communication and education programs and world-class participant service to plans of all sizes and look forward to helping Concrete Tie Industries, Inc.'s employees make the most of their 401(k)s," adds Sarsynski. For more information about MassMutual Retirement Services, please contact your retirement plan advisor or call MassMutual at 1-866-444-2601.