MassMutual looks to sell retirement biz: report

MassMutual is considering selling its retirement plan business, according to a news report Friday by Reuters.

The Massachusetts-based financial services company administers about $175 billion in retirement plan assets, according to the report. MassMutual “no longer considers the capital-intensive servicing of retirement plans core to its business,” the Reuters report noted, citing unnamed sources.

The sources cited by Reuters pegged a possible sale price of about $2 billion.

The explored sale comes less than two years after MassMutual offloaded its OppenheimerFunds investment management business, which it sold to Invesco for $5.7 billion.

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Written by Investors Wallets

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