MassMutual's Center for Behavioral Research^SM

MassMutual is dedicated to understanding the dynamics of financial decisions and behavior in order to provide innovative retirement solutions to improve the retirement outcomes of our customers. It is a center for experimentation and collaboration, which serves as a creative laboratory for emerging education and communication techniques.

Our highly trained team of thought leaders conducts research and analysis in collaboration with academic and industry researchers. Our insights and information are shared for the benefit of sponsors, participants and financial professionals.

We experiment endlessly and fearlessly test new ideas in our efforts to help the American worker successfully retire.

Research Library

Plan Design and Communication

• Tools to Increase Participation and Savings in Defined Contribution Plans
  Learn the most common barriers to good retirement plan action and effective solutions that can help increase participant enrollment and savings rates.
   
• Best Practices In Employee Campaigns
  A thoughtfully designed and executed communication program can go a long way toward engaging employees and motivating them to action. Learn the most important techniques and tools you can use to maximize the action rate of your communication.
   
  
• A Behavioral Approach to Retirement Planning
  Discover how leveraging design features (automatic enrollment, deferral increase, asset allocation) and using personalized, interactive communication tools can change employee behavior and engage participants in the planning process.
   
• Participants Embrace Target Retirement Date Investments
  This white paper discusses why plan fiduciaries may want to consider target retirement date investments as qualified default investment alternatives for automatic enrollment programs.
   
• Retirement Revolution
  Watch a 3-minute trailer of the MassMutual-sponsored PBS documentary on retirement.

• Getting the Most From Plan Data
  Learn how your retirement data can reduce your workload, increase plan understanding and participant engagement while making it easier to meet fiduciary obligations.

Participant Activity

• MassMutual Participant Report (Q1 2009)
  Analysis of first quarter account activity suggests that participants continue to save for retirement and most are riding out economic uncertainty without drastic changes. In general, they are still concerned about the economy, want to talk to someone about their plan and are interested in secure investments.

For Financial Professionals

• The Successful Retirement Advisor
  Uncover what defines “The Successful Retirement Advisor” based on research into the needs and experiences of today’s plan sponsors.
   
• Financial Attitudes and Actions: MassMutual Defined Contribution Participant Survey
  Participants who are saving a lot aren't necessarily confident that they'll have enough for retirement. Find out why and learn more about MassMutual's survey of more than 17,000 participants and their financial attitudes and behavior.

• Fixed Income Annuities for Retirement Income
  Read more about the benefits of a fixed income annuity on retirement wealth and income security. Also see Frequently Asked Questions.

Can You Guess?

In one study¹ of participant behavior, researchers tracked the intentions and actions of employees at education meetings.

100% of employees who had not enrolled in their company sponsored plan intended to enroll after a meeting.

What percent enrolled?

14% of the non-enrolled employees followed through and enrolled.

The study also looked at participants in the plan. Almost two-thirds believed they weren't saving enough and many intended to increase their deferral rate.

What percent increased their deferral rate?

24% of participants who intended to increase did.

In MassMutual's 2007 e4^SM meetings, 88% of non-enrolled participants enrolled in the plan!

¹Choi, James J.and David Laibson and Brigitte C. Madrian and Andrew Metrick. 2002. “Defined Contribution Pensions: Plan Rules, Participant Decisions, and the Path of Least Resistance.” Pension Research Council Working Paper 2002-3.