MassMutual Review

Company Overview

MassMutual is a mutual life insurance company based in the United States. Founded in 1851, this company has grown from a life insurance company to a company that offers a wide range of financial products including IRA plans, annuities, and other insurance products. In 2013, MassMutual was named as one of the World’s Most Admired Companies in Fortune Magazine, was named as a Fortune 500 and one of the Top 50 Most Diverse Companies. Other awards MassMutual has received include Top 50 Employer, Communities Awards and Signature Awards.

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Account Options

 

 Minimum ContributionMaximum Contribution

Roth IRA

No Minimum

$5,500/year

Traditional IRA

No Minimum

$5,500/year

SEP IRA

No Minimum

25% of compensation
(up to $52,000)

SIMPLE IRA

No Minimum

$12,000 (if under age of 500) or
$14,500 (if older than 50)

Self-Directed IRA

--

--

Rollover IRA

No Minimum

No Limit

Inherited IRA

--

--

 

Compared to other brokers and firms, MassMutual has a typical selection of IRA accounts types including traditional, Roth, SIMPLE, rollover and SEP IRA. There are ‘catch-up’ contributions available – for more information investors should speak to a MassMutual representative.

Investment Options

  • Stocks
  • Options
  • Mutual Funds
  • ETFs
  • Annuities
  • Bonds and U.S Treasuries

MassMutual is primarily a mutual fund company and offers a wide range of funds for investment purposes. Other investment assets are available as well but for specific pricing information investors will need to contact MassMutual as these options are available through a subsidiary.

Fees and Commissions

MassMutual does not list any fees or minimum account balance information for IRA accounts. Interested individuals should contact MassMutual directly for more information about IRA fees and account minimums.

Retirement Planning

MassMutual provides many powerful retirement planning tools to their investors. First, investors can use the retirement planning tool to create a definitive and working retirement savings plan based on their goals and current financial situation. In addition, there is a retirement income calculator that analyzes the monthly income provided by retirement savings. Investors can also access tools that can estimate the amount of social security benefits as well as any surplus or shortage of retirement funds.

Account Features

To open a Roth IRA at MassMutual, investors will need to meet eligibility and filing requirements set by the IRS. In addition, investors are required to have earned taxable income in the last year. Finally, investors must provide their social security number, date or birth and other personal information to open an IRA.

Accessibility

There is no mobile app or mobile site for investment services or IRA accounts at MassMutual. MassMutual may develop a mobile app and site in the near future.

Safety and Security

MassMutual is a member of SIPC which means that the securities in client accounts are protected up to $500,000. In addition, MassMutual is a member of FINRA in order to provide clients with the safest investment platform. All transactions and other sensitive information are encrypted with sophisticated technology to prevent online fraud and theft.

Customer Support

Investors can contact customer support at MassMutual every day from 8AM to 5PM ET via telephone. Investors can also visit a branch for in-person support during normal business hours or send an email. It may take 24 hours for email inquiries to be addressed. In general, customer support is responsive, helpful and professional.

Bottom Line

It is difficult to determine the cost of investments as price is not listed on the website but MassMutual is a respected company and offers some of the best customer service that is available. Additionally, MassMutual is highly regarded for its offerings of mutual funds and annuities.

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