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MassMutual Retirement Services Praises Quality of Union Labor in Completion of Memphis Call Center

Posted on: Tuesday, 21 April 2009, 15:11 CDT

SPRINGFIELD, Mass., April 21 /PRNewswire/ -- Elaine Sarsynski, executive vice president of MassMutual's Retirement Services Division and chairman and CEO of MassMutual International LLC, had high praise for the quality of work provided by the Memphis Building and Construction Trades Department's union contractors relative to MassMutual's recently-completed Retirement Services Call Center. The new call center takes advantage of second-site capabilities gained through MassMutual's 2008 acquisition of The First Mercantile Trust Company headquartered at 57 Germantown Court in Memphis, Tenn.

"We strongly support the use of union labor for our real estate development projects and have been extremely pleased with the outstanding quality delivered by the Memphis Building and Construction Trades Department's union contractors under a very tight timeframe," says Sarsynski.

As a matter of policy, MassMutual and its subsidiary, Cornerstone Real Estate Advisers LLC, require that all general contractors provide the opportunity for union labor to submit bids in response to RFPs for subcontracted labor on MassMutual and Cornerstone projects.

"MassMutual and Cornerstone have high regard for the skill and training of union labor," says David Reilly, president and CEO of Cornerstone Real Estate Advisers LLC. "Our commitment to a union-friendly process in awarding construction contracts is validated by our 2008 spend in excess of $115 million on union construction labor."

As part of its ongoing support to the building trades, MassMutual Financial Group, Cornerstone Real Estate Advisers LLC, and The Fallon Company will continue efforts over the next 10 years to develop the 20-acre Fan Pier waterfront project on Boston Harbor, currently estimated to cost in excess of $2 billion. "MassMutual and The Fallon Company have supported a 100% union labor policy in the development of Fan Pier, and this project will be a testament to the quality of union labor in the region," says James Coyle, executive director, Boston Building Trades Department.

For more information about MassMutual's Taft-Hartley retirement plan services, please contact your retirement plan advisor or call Ken Pouch at MassMutual at 413-744-5523.

About MassMutual

MassMutual's Retirement Services Division has been serving retirement plans for more than 60 years. It offers a full range of products and services for corporate, union, nonprofit and governmental employers' defined benefit, defined contribution and nonqualified deferred compensation plans. It serves approximately one million participants.

MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliated companies and sales representatives. MassMutual and its subsidiaries had more than $360 billion in assets under management at year-end 2008. Assets under management include assets and certain external investment funds managed by MassMutual's subsidiaries.

Founded in 1851, MassMutual is a mutually owned financial protection, accumulation and income management company headquartered in Springfield, Mass. MassMutual's major affiliates include: OppenheimerFunds, Inc.; Babson Capital Management LLC; Baring Asset Management Limited; Cornerstone Real Estate Advisers LLC; The First Mercantile Trust Company; MML Investors Services, Inc., member FINRA and SIPC (www.finra.org and www.sipc.org); MassMutual International LLC and The MassMutual Trust Company, FSB. MassMutual is on the Internet at www.massmutual.com.

Contact: Lisa Reilly 413-744-0589 lreilly@massmutual.com

SOURCE MassMutual Retirement Services Division

Source: PR Newswire

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