Frequently Asked Questions

Below you will find answers to questions commonly asked by participants under a group annuity contract issued by MassMutual. Please look through the list and if you do not find your question answered you can find addition help via our Customer Service page.

What is a Group Annuity Contract?

A group annuity contract is a financial product sold by an insurance company such as MassMutual. There are a number of different types of group annuity contracts. This website describes group annuity contracts under which MassMutual provides guaranteed annuity benefits to individuals covered under the contract. Payments are made for each recipient’s lifetime, and, if applicable, for the lifetime of the contingent or joint annuitant thereafter or for a guaranteed period of time.

Why am I covered under a MassMutual group annuity contract?

You became covered because your employer purchased a MassMutual group annuity contract to provide benefits to which you were entitled under a defined benefit pension plan sponsored by your employer (or former employer).

Why did my plan sponsor purchase a group annuity contract to provide for my plan benefit?

Plan sponsors choose to purchase group annuity contracts for a variety of reasons. Once a group annuity contract has been purchased the pension plan is no longer responsible for paying the participant benefits covered under the contract. Instead, the insurance company becomes financially responsible for making those benefit payments. MassMutual has been in the business of paying guaranteed benefits for over 30 years and is well positioned to ensure that that you will continue to receive your benefits.

What is a Certificate and when will it be available?

When an insurance company has assumed an obligation to make payments to individuals under a group annuity contract, the insurer issues a document called a certificate to each covered individual. The certificate specifies the payments guaranteed1 to each individual under the contract. The process to prepare and issue certificates to each individual covered under a group annuity contract can take some time. However, the individual’s right to receive benefits under the contract is not dependent on whether a certificate has been issued to them.

Do I need to do anything when I receive my certificate?

Please review the information in your certificate. If any of your personal information is incorrect, please contact the MassMutual Participant Information Center at 800-775-4331.

What if some of the personal information I see listed on this website is incorrect?

If any of your personal information is incorrect, please contact the MassMutual Participant Information Center at 800-775-4331.

What is the Contract Number that appears on my Welcome Letter and Certificate and when would I need to reference it?

A Contract Number is a unique identifying number MassMutual has assigned to the group annuity contract issued with respect to your plan. Whenever you contact us by phone or mail you should reference your Contract Number, because it helps us locate your records on our administrative systems and enables us to better serve you.

How will my monthly payment change?

Nothing will change for you with respect to the gross amount of your monthly benefit. The amount of the monthly payment you receive is net of taxes that are withheld and if MassMutual withholds a different amount of taxes, the net payment you receive may change. The other change you will see is in who makes your monthly payment; it does not affect the gross amount of your monthly payment.

How will this transition affect my taxes?

While your annuity payment will be taxed in the same way as your pension payment, different providers may have different interpretations of state tax laws, which may result in your receipt of a different after-tax payment. Please note: If you received payments from your employer in the year the MassMutual group annuity contract became effective you will receive two separate tax forms for the current year reflecting the payments you received from the Plan and the payments you received from MassMutual.

Will MassMutual impose any fees on my annuity payment?

No, MassMutual will not charge you any fees.

Why is there no information in my payment history?

MassMutual can only share payment history from the date MassMutual began making payments to you. Going forward you will be able to access your payment history.

Does MassMutual provide direct deposit advice statements?

If you prefer to receive an advice for the direct deposit activity MassMutual can provide that service upon request.

Why can’t I make changes on the website?

The website was designed to provide you with your account information. With that in mind, we are constantly working to improve our customers’ experience. We expect to add additional functionality to this website in the future.

What if I forgot my password?

If you have forgotten your password, there is a link on the login page to reset it. Click the “Forgot password?” link and follow the instructions to regain access to your account.

What if I forgot my username?

In order to regain access to your account you will need to call Customer Service at 800-775-4331.

Where can I learn more about MassMutual?

Founded in 1851, MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policy owners. The company has a long history of financial strength and strong performance. With whole life insurance as its foundation, MassMutual provides products to help meet the financial needs of clients, such as life insurance, disability income insurance, long term care insurance, retirement/401(k) plan services, and annuities.

MassMutual has been serving retirement plans for more than 65 years. It offers a full range of products and services for corporate, union, nonprofit and governmental employers' defined benefit, defined contribution and nonqualified deferred compensation plans. It serves approximately 2.8 million participants. You can find additional information on the company website: www.massmutual.com.

How will my benefit payment be protected once it is transferred to MassMutual?

Insurance companies are heavily regulated to protect the interests of individuals receiving annuity payments and/or their beneficiaries. For example, there are regulations about holding funds in excess of the amount expected to be needed to make guaranteed payments. Most insurance companies, including MassMutual, hold assets well in excess of the minimum required.

In the unlikely event an insurance company becomes insolvent, protection is provided by the state guaranty association of your state of residence at that time. Each state (and Puerto Rico and the District of Columbia) has a state guaranty association, operating under individual state laws. The state guaranty association coverage is subject to certain limits on the amount of benefit that will be replaced by each group annuity contract under which you will be receiving benefits. These limits vary based on your state of residence, and the protections provided will vary based on state rules in effect at the time of insolvency and the type of benefit you are receiving. State guaranty associations are funded by insurance companies that sell insurance in a given state and not by the state government.

For more information on state guaranty associations, visit the National Organization of Life and Health Insurance Guaranty Associations at www.nolhga.com. Click on Facts and Figures, then click on GA Law Summaries and scroll through the drop-down menu to select the state for which you would like more information.