Retirement savers can now use mobile devices to change contributions to 401(k)s and other retirement savings plans
ENFIELD, Conn. – MassMutual’s RetireSmartSM mobile app now gives retirement savers the power to control their retirement destiny from the palm of their hand.
The RetireSmart app now allows retirement savers to use their smartphones to change how much they automatically contribute to their 401(k) or other defined contribution retirement plan each pay period. The app is available free for Apple® and AndroidTM smartphones through the Apple App StoreSM and Google PlayTM app store, respectively, to retirement savers who already access their account through MassMutual’s RetireSmart.com web site. The app can be downloaded by searching “RetireSmart” or “MassMutual” in the Apple or Google stores.
“Mobile devices have for many of us become the control centers of our lives, where we receive and act upon information in real time,” said Heather Smiley, Chief Marketing Officer for Retirement Services and Worksite Insurance. “Americans want greater control over their financial lives and our enhanced RetireSmart app gives them more power to retire on their own terms than ever before.”
The enhancement is part of a broad mobile technology strategy with the objective of helping MassMutual retirement plan customers make smarter, faster decisions, according to Smiley. MassMutual is introducing additional improvements and apps to meet a wide range of goals, including continual improvement, ease of doing business, retirement education and motivating retirement plan savers to become more retirement ready, she said.
24/7 Mobile Access
In addition to changing retirement plan contributions, the RetireSmart app offers secure, 24/7 mobile access to retirement savings account information, including:
• Total account balance
• Balances by source and investment
• Vested balance by source
• Last contribution amount
• Asset allocation by investment
• Personal rate of return
The RetireSmart app also allows retirement savers to link to RetireSmart.com, an online site that provides information and tools to help retirement savers reach their goals. Login assistance and contact information is also available through the app.
“MassMutual’s retirement savers have a wide range of preferences as to how they want to interact with their retirement savings accounts, including mobile technology, online, on the phone and in person,” Smiley said. “We want to meet our customers where they live, on their terms, to make their experience as rewarding as possible.”