What are the different types of retirement plans offered by MassMutual?

MassMutual offers a variety of retirement plans to help individuals and businesses prepare for their financial futures. One of the primary options available is the Individual Retirement Account, commonly known as an IRA. This can include both traditional IRAs, which provide potential tax advantages for contributions made, and Roth IRAs, which allow for tax-free withdrawals in retirement under specific conditions. In addition to IRAs, MassMutual provides employer-sponsored retirement plans such as the 401(k) and 403(b) plans. These plans are designed to help employees save for retirement with deferred taxation on contributions and investment growth. Employers may offer matching contributions, which can further enhance the savings potential for employees. MassMutual also offers Simplified Employee Pension plans, known as SEPs, which are geared towards self-employed individuals and small businesses. These plans allow for higher contribution limits compared to traditional IRAs, making them an attractive option for maximizing retirement savings. Another option is the Defined Benefit plan, which can provide a guaranteed income during retirement, making it suitable for businesses that wish to offer their employees a stable income stream after they retire. These retirement plans are tailored to meet a variety of needs, whether for individual savers or for businesses looking to support their employees' future financial security. For specific details about each plan, individuals are encouraged to visit the official MassMutual website or the specific web page dedicated to retirement solutions, where they can find additional information and resources.