Page 109 - NovDefComp

MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY
Defined Benefit and Defined Contribution

Recordkeeping Operations System

Controls Specified by
MassMutual Business Testing Performed by KPMG LLP and Results of Tests

6.3 Benefit payment Inspected the “Election of Method of Payment” and/or “Income
documentation is reviewed by Tax Withholding from Non-Periodic Payments” and “Death
recordkeeping operations Notice” forms, AWD workflow and PAS and CAS records for a
associates and processed in PAS selection of disbursement requests and determined that
and/or CAS only after “Election of retirement payments were processed in PAS and CAS (if lump
Method of Payment” and/or sum payment is requested) only after payment election and
“Income Tax Withholding from income tax information forms were completed and authorized by
Non-Periodic Payments” and/or the participant.
“Death Notice” forms are
completed, authorized by, and Inspected AWD workflow screens for a selection of payment
request and determined that payments were reviewed for
received from the participant
and/or direction from the Plan accuracy by an independent team member prior to release into
PAS and CAS (if lump sum payment is requested) as evidenced
Sponsor is received. Payments
are reviewed for accuracy by an by “Passed” status in AWD.
independent team member prior No Exceptions Noted.
to release to PAS and or CAS (if
a lump sum payment is
requested). The review is
evidenced by “Passed” status in
AWD. (DB)

6.4 Plan Payments are reviewed Inspected the plan payment requests and the AWD workflow
by plan management associates status or signature on the CAS/Matrix report generated for the
prior to processing in CAS or day for a selection of plan payments and determined that plan
Matrix only after complete and payments were reviewed by a plan management associate prior
authorized direction is received to processing in CAS/Matrix for completeness and
from an authorized party such as authorization.
a Plan Sponsor or their delegate.
Payments are reviewed for Inspected AWD workflow screens for a selection of plan
payment request and determined that payments were reviewed
accuracy by an independent
team member prior to entry into by an independent team member for accuracy prior to release
to CAS/Matrix.
CAS and are processed same
day if in good order. The review No Exceptions Noted.
is evidenced by “Passed” status
in AWD or signature on the CAS
report generated for the day.
(DB)

MassMutual Defined Benefit and Defined Control Objectives, Related Controls and Tests of
Contribution Recordkeeping Operations System Operating Effectiveness
61