A second year of major gains for MassMutual's Retirement Services Division continues as the company has already set records for sales and cash flow for the first quarter of 2012.
Retirement plan sales from Jan. 1 to March 31 topped $1.8 billion, a 40 percent increase over the same period in 2011.
Overall cash flow also reached $1.2 billion, the best quarterly results for the company during its entire 65 year history in the retirement space.
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Assets under managment in MassMutual retirement plans also reached a record level of $64.2 billion at the end of the quarter, a 10 percent increase from the end of 2011.
"Last year we set records on virtually every metric and we are thrilled that 2012 is shaping up to be another great year for MassMutual Retirement Services," said Elaine Sarsynski, executive vice president of the division and chair and CEO of MassMutual International LLC, in a statement.
"Repeat business from retirement plan advisors in every market – from small plans to very larger plans of $500 million plus – is also very robust, as is our stable value pipeline."
The company also recently celebrated being named Retirement Leader of the Year by the editors of Fund Industry Intelligence, a mutual fund industry publication created by Euromoney Institutional Investor.
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