To serve MassMutual’s defined-benefit pension sponsors
Will focus on helping DB plan sponsors align investment strategies with liabilities
SPRINGFIELD, Mass., Oct. 17, 2017 – Massachusetts Mutual Life Insurance Co. (MassMutual), as part of its efforts to boost support of defined benefit (DB) pension plans, has appointed Ken Stapleton as senior institutional investment consultant to support DB plan sponsors.
Stapleton, who has more than 20 years of experience in the financial industry, is responsible for providing investment expertise to MassMutual’s DB clients, including portfolio strategy, asset allocation, risk reduction, investment policy, product selection and day-to-day information and data sharing. He will support both plan sponsors and financial advisors who serve the DB marketplace.
“Increasingly, MassMutual is being asked to consult about managing DB plans, including and especially management of investment assets as plan sponsors look for better ways to meet their obligations and manage their risks,” said Mike O’Connor, Leader of MassMutual’s Defined Benefit pension business. “Ken brings a wealth of knowledge and experience to help our pension clients better align their plan’s investment strategies with their actual plan liabilities.”
MassMutual has $16 billion in DB pension assets under administration and serves 400,000 pension participants, including workers and retirees.
Better DB Plan Management
Stapleton is charged with both helping plan sponsors better manage their DB plans as well as helping financial advisors grow their business, according to O’Connor. In the process, Stapleton will work with plan sponsors and advisors to provide investment solutions tailored to meet sponsor’s specific goals for their plans.
MassMutual, seeing an opportunity for growth, is expanding its support of the DB marketplace. Recently, the company introduced its PensionSmart Analysis tool, which provides insights into an employer’s issues and opportunities by examining the plan’s current status, funding level, and service structure. MassMutual’s pension experts can then assess the pension plan’s health and make recommendations to the sponsor about appropriate options.
Earlier this year, MassMutual introduced customized pension yield curves to help plan sponsors measure their pension obligations in a more informed and transparent way. The yield curve provided an improved benchmark to calculate the value of pension liabilities that gets reflected in plan sponsor’s balance sheet and profit and loss statement.
“MassMutual sees significant opportunity to help employers that sponsor DB plans to better manage their plan’s risks and obligations,” O’Connor said. “We will continue to introduce new services and expertise to help our clients make the best decisions possible about the future of their plans.”
The appointment of Stapleton means MassMutual now has three investment consultants focused on the DB marketplace.
Prior to joining MassMutual, Stapleton worked at Keefe, Bruyette and Woods for 15 years as an institutional equity trader and research analyst. He also worked an investment banker with Ironwood Capital.
Stapleton holds a Bachelor of Science and a Masters of Business Administration from the University of Connecticut and holds FINRA Series 7 and 63 licenses.
About MassMutual
MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyowners. MassMutual offers a wide range of financial products and services, including life insurance, disability income insurance, long term care insurance, annuities, retirement plans and other employee benefits. For more information, visit www.massmutual.com.
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