(Image credit: Dollar Photo Club.)
MassMutual (Springfield, Mass.) has launched the RetireSmart mobile app for customers to access their MassMutual RetireSmart accounts via Apple and Android smart phones. The free app is available in the Apple App Store and Google Play store to participants in a 401(k) or other defined contribution retirement plan who already access their account through MassMutual’s RetireSmart.com web site.
“Our customers expect instant access to information through their mobile devices and that includes access to their retirement account information,” comments Heather Smiley, chief marketing officer for Retirement Services and Worksite Insurance, MassMutual. “The launch of the RetireSmart app means our customers and agents now have anytime, anywhere access to important plan information to help them make smart decisions about retirement savings.”
Broader Multi-App Mobile Strategy
MassMutual characterizes the new app as part of a broader, multi-app mobile technology strategy. The carrier reports that it will introduce additional apps during the course of the year 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.
The RetireSmart app provides access to the following types of retirement savings account information, according to the carrier, including:
- Total account balance
- Balances by source and investment
- Vested balance by source
- Last contribution amount
- Asset allocation by investment
- Personal rate of return
MassMutual plans to enhance the RetireSmart app later in 2015 and beyond to keep pace with participant needs and demands for instant information, according to Smiley.
“Our goal is to introduce new features and functionality that exceed customer expectations and help differentiate MassMutual in the marketplace,” Smiley relates. “We see the app as another important tool for our customers to manage their financial lives and ultimately retire on their own terms.”