MassMutual has launched a family of target date funds that is managed by T. Rowe Price and features active management and dynamic tactical asset allocation.
The MassMutual Select T. Rowe Price Retirement Funds are available exclusively to participants in retirement plans sponsored by MassMutual.
The funds are designed to address a "spectrum of risks, including inflation, longevity, and market risks, which retirement savers face during their accumulation years and through retirement," MassMutual said in a release.
"Based on our experience as a record keeper, we know that many retirement savers invest either too conservatively when starting to save for retirement or too aggressively as they approach retirement," Tina Wilson, MassMutual's head of investment solutions innovation, said in the release. "Our new funds seek to provide savers sufficient assets at retirement to withdraw from at and through retirement, the ability to withdraw money needed to support living expenses over their lifetimes, and a potential buffer to assist with unexpected expenses, such as health care costs."