November 1, 2012

MassMutual to oversee insulators' $203M pension

The union for heating-cooling insulation installers in the western U.S. has hired Springfield insurer MassMutual's Retirement Services Division to manage the workers' $203 million-asset defined contribution pension.

The Western States Insulators & Allied Workers Individual Account Plan covers more than 5,700 union members in 11 western states.

Financial terms weren't disclosed.

The retirement services division oversees more than $7.1 billion in assets.

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