SPRINGFIELD, Mass. MassMutual Retirement Services will bundle funds managed by its OppenheimerFunds subsidiary into a new large-plan institutional retirement offering.
The new product will be available for defined contribution, defined benefit, and nonqualified deferred compensation plans. The start-up was announced last week.
OppenheimerFunds retirement plans division has more than $30 billion of assets under management in more than two million shareholder accounts. The parent, MassMutual Financial Group, has more than $200 billion of assets under management.