Page 132 - 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

8.7 Plans that have elected periodic For a selection of plan-level investment transfers and
rebalancing in accordance with rebalancing transactions, inspected the Services Agreement and
client authorization and direction as AWD QC status and determined that rebalancing transactions or
outlined in the Services Agreement investment transfers were entered into CAS/Matrix by a
and also Investment Transfer recordkeeping operations associate and an independent
requests initiated by a Plan Sponsor member of the team reviewed the transactions after input for
received by mail, e-mail, or fax and authorization and completeness as evidenced by a “Passed”
are reviewed by recordkeeping status in AWD.
operations associates for
completeness and authorization to No Exceptions Noted.
determine that they are in good
order before processing in CAS. An
independent team member reviews
the transactions after input for
authorization to determine they
were processed accurately on CAS
or Matrix for manual Trade Tickets
only. The review is evidenced by
“Passed” status in AWD. (DB)

8.8 Recordkeeping operations Inspected Plan Re-balancing Tracking Logs for a selection of
associates review monthly the months and determined that a recordkeeping operations
master re-balancing database for associate reviewed monthly the master re-balancing database
plans that require rebalancing to for plans that required rebalancing as evidenced by a
determine that all plans that completion date entered in the master database against the
required rebalancing were plan.
rebalanced as evidenced by a No Exceptions Noted.
completion date in the database for
each plan. (DB)

Complementary User Entity Controls

Plan Sponsors should have controls in place to ensure that transfer requests submitted for processing
are complete and properly authorized.
Plan Sponsors should have controls in place to ensure only authorized customer representatives have
access and are authorized to instruct MassMutual transactions on behalf of the Plan Sponsor through
the TRC and notify MassMutual of changes in a timely manner.

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