Annuities innovator Jerry Golden to retire from MassMutual

Longtime insurance and annuity expert Jerome “Jerry” S. Golden, president of the income management strategies division and a corporate vice president of MassMutual’s retirement income division, is retiring. After 35 years of experience in the financial services industry, his last day will be on Friday. At Springfield, Mass.-based Massachusetts Mutual Life Insurance Co., Mr. Golden and his team developed a patent-pending platform for converting retirement savings into retirement income. He was also involved in a research study demonstrating that incorporating a fixed-income annuity in a hypothetical retirement income account yielded more long-term wealth for investors than a portfolio of equity and bond investments. “My immediate plans are to do some consulting, but expect to find some interesting business opportunities in this dynamically changing environment,” Mr. Golden wrote in an e-mail. MassMutual officials said in a statement that Mr. Golden has brought tremendous innovation to retirement solutions. "Jerry has been an integral driver behind MassMutual developing a suite of retirement income solutions focused on guaranteeing income and building wealth," Steve Deschenes, senior vice president and chief marketing officer, of MassMutual's Retirement Income Division, said in a statement. Previously, Mr. Golden was an executive vice president of the Equitable Life Assurance Society of the United States of New York, the principal insurance subsidiary of Paris-based AXA Financial Inc.