MassMutual, hoping to expand its reach in the small-plan market, has rolled out enhancements to its Aviator program, a product line targeted at employer-sponsored plans with less than $15 million in assets.
The news is further indication that recordkeepers and service providers are seeing the largely underserved small-plan market as essential to growth.
The U.S. Government Accountability Office reported that, in 2013, only 14 percent of businesses with fewer than 100 employees sponsored a plan. The report cited a general confusion, resulting from the complexity of plan design and regulatory burdens as well as costs, as the primary deterrents in the small-market niche.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
