Are there any trading restrictions?

Account balance transfers are subject to certain limitations designed to discourage short-term trading strategies that are inconsistent with sound retirement planning. Please refer to MassMutual's Excessive Trading Policy for details.


Is there a fee for requesting balance transfers to other investment options?

There are no fees charged when transferring balances between MassMutual's investment options.

Why is money still deposited into my old investments after I requested a balance transfer?

Money is still deposited into your old investments because no changes were requested to your future investment selection. Balance transfers and investment selections are independent of each other. A balance transfer and an investment selection change must be processed to affect both current and future contributions. For contributions to be deposited into your new investment, process a future investment selection change.

When does my transfer request become effective?

Account balance transfers requested on a business day before 4pm Eastern Time will be processed using the value as of the close of the stock market on that day. Transfers requested on or after 4pm Eastern Time, or on a weekend or holiday, will be processed using the value as of the close of the stock market on the following business day, unless your plan provides otherwise.

 

Account balance transfers involving global and international investments must be requested by 2:30 pm Eastern Time to be processed using the value as of the close of the stock market on that day. Transfers involving global and international investments requested on or after 2:30 pm Eastern Time, or on a weekend or holiday, will be processed using the value as of the close of the stock market on the following business day, unless your plan provides otherwise.

How do I roll other retirement plans into my MassMutual account?

Once you log into the RetireSmart, review the detailed instructions listed under Rollover Opportunity from any page within My Account or refer to Help for more information.


What Happens to My Retirement Assets in the Event of a Divorce?

What happens to your retirement assets, such as your 401(k) greatly depends on which state you file for divorce. Nine states, such as California and Nevada, are so-called “Community Property” states, where each spouse is considered an equal owner of all marital property, including retirement plans. Assets in divorce are typically split 50/50, in the absence of a prenuptial agreement in these states.

 

The remaining states, on the other hand, are “Equitable Distribution” states, where divorce settlements are intended to be “fair and equitable,” not necessarily equal. Courts take into consideration a number of factors including the length of the marriage and income of each spouse in determining how to allocate assets in a settlement. It helps to have an experienced divorce attorney guide you through the process if you’re interested in protecting your retirement savings or receiving part of a spouse’s benefits.

 

In the event that you do divide retirement assets, you’ll need to fill out a QDRO (Qualified Distributions Relations Order), which establishes the legal right for qualified retirement assets to be transferred from one spouse’s account to the other’s IRA without it being considered an early withdrawal, which would otherwise carry penalties. Again, the expertise of an attorney should prove beneficial in this legal process.

 

Farnoosh Torabi is an independent speaker and is not an employee of MassMutual Financial Group; The information within this Q&A is solely the opinions of the speaker, an independent orator, which is not an employee of MassMutual Financial Group.

We Can Help

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For immediate assistance, contact our Participant Information Center at 1-800-743-5274

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Retired or Terminated Participants, contact a Retirement Specialist at 1-800-743-5274

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