MassMutual'sRetirement Services Division has been selected by Paradigm as the new recordkeeper for the company's 401(k) retirement plan.
According to a release, assets added to MassMutual's platform from the company's retirement plan total more than $18 million.
Paradigm is a multi-national software company exclusively focused on the delivery of analytical and information management solutions for the discovery and extraction of subsurface natural resources. Paradigm technologies and workflows enable customers to create more value from data, better understand complex geology, better identify optimal drilling locations, assess risk and maximize asset value.
"MassMutual stood out as a top candidate following our thorough due diligence process, due to their strong focus and innovative tools aimed to help increase plan health and participant retirement readiness, both key drivers in the industry today," says Gary Jurney, CLU, ChFC, AIF and president with Kainos Partners, Inc., who assisted with the search. "The transition to MassMutual was seamless and our transition manager was outstanding. The decision to transition Paradigm's plan to MassMutual is a win-win for all parties and we look forward to increasing the value of the company's 401(k) plan to each employee," adds Jurney.
"We understand that transitioning a retirement plan to another provider is an important decision and one that directly impacts our employees," says Elaine Carrasco, human resources business partner with Paradigm. "We were impressed by the dedication of the MassMutual team to helping participants reach their retirement goals, and we look forward to utilizing MassMutual's wide array of plan health and retirement readiness solutions to further inspire and engage Paradigm's employees," adds Carrasco.
"MassMutual is happy to welcome Paradigm as a valued new retirement services client," says Elaine Sarsynski, executive vice president, MassMutual'sRetirement Services Division and chairman and CEO of MassMutual International LLC. "We look forward to helping Paradigm simplify their overall retirement plan administration while helping each employee more effectively plan and save for retirement," adds Sarsynski.
MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) [of which Retirement Services is a division] and its affiliated companies and sales representatives.
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