After six years partnering with Unified Trust Company, the STARS Board has selected MassMutual to become the STARS Trusts new service provider.
The objective of the search was to make the program stronger with more in-person support and on-line participant support, as well as more competitive pricing. Additionally, the STARS Board was interested in finding a service provider who would better help the STARS organization grow the number of agencies using the pool of 457(b) and 401(a) retirement plans.
Among the advantages of changing to MassMutual are:
• 14 field representatives throughout the state of California;
• 3,299 government agencies utilizing MassMutual services;
• a more robust website including a retirement plan/calculation tool;
• more index funds in the portfolio, thus reducing investment costs to participants; and
• greater yield and lower cost on the stable value investment choice, thus resulting in a net greater yield for participants.
The official changeover date to MassMutual will be April, 2017.