September marked MassMutual Retirement Services Division’s highest sales month in history, the company said in a release. September sales totaled $979.2 million, representing the highest monthly total in the division’s 60-year history and contributing to record third quarter sales of $1.7 billion.
“A lot of plan consolidation is taking place and those plans that are changing providers want a seamless transition,” said Hugh O’Toole, senior vice president of sales and client management for the division.
September’s sales results included plans under MassMutual’s fully bundled and TPA service models in defined contribution, defined benefit, nonprofit, Taft-Hartley and PEO markets, as well as roll-in and First Mercantile’s collective investment trust product.
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