MassMutual Retirement Services is aggressively targeting the multiemployer plan market, having added 50 new MEP sponsors and $4 billion in assets since 2012, the company said Tuesday.
"Taft-Hartley" plans — named so because of a relatively minor provision in the controversial Taft-Hartley Act of 1947 that created MEPs — have been a target for MassMutual's retirement business for more than 40 years. All told, MassMutual now services more than 140 union-sponsored MEPs representing more than 278,000 participants and $11.25 billion in assets.
About 1,400 MEPs in the U.S. represent around 10 million participants, according to the Pension Benefit Guaranty Corp.
Recommended For You
The Enfield, Connecticut-based retirement arm of MassMutual has increased its sales and support staff in response to the growth of its Taft-Hartley business, according to Doug DeNigris, national practice leader MassMutual Retirement Services.
"We like to say resources matter," said DeNigris, "so we're providing more resources for our Taft-Hartley customers."
MassMutual's Taft-Hartley team, which DeNigris claims is one of the biggest in the industry, now has eight relationship managers and five sales staff. Several new hires and promotions were announced Tuesday.
Among them, Joe Carmignani was promoted to assistant vice president and manager of the Taft-Hartley team, while John Dolan was promoted to managing director of the Taft-Hartley sales team.
Five other sales and support team members have been added, including two new members previously with Mercer's Taft-Hartley team and one from an MEP's investment team.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
