Page 75 - NovDefComp

MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY
Defined Benefit and Defined Contribution

Recordkeeping Operations System

For all DB Distributions, accounting operations associates reviews supporting documentation for individual
payments over a specific amount to determine that disbursements were processed completely and
accurately in accordance with authorized instructions.

Accounting operations associates reconcile the total number and dollar amount of checks reported on the
Daily Cash Suspense Reports for disbursements processed on CAS to “Check Reconciliation Control
Reports” provided by the Corporate Output Services. Effective 1/14/2020 a vendor Exela is responsible for
checks. Discrepancies are researched and resolved.
Accounting operations associates review individual wires and the total ACH batches daily for disbursements
processed on CAS to TCC. Discrepancies are researched and resolved in a timely manner.
For disbursements processed in PAS, the number of checks produced is verified daily by Fulfillment to the
number on the “Check Reconciliation Control Report.” Accounting operations associates reconcile the total
number and dollar amount of checks reported on the “NPAPCK1 Control Report” to the “Check
Reconciliation Control Report.” Discrepancies are researched and resolutions documented.
Accounting operations associates perform a daily reconciliation confirming that trade activity from Fundlinx
and cash activity is reconciled between the administrative recordkeeping systems (PRS and CAS), the
NSCC and the custodian on the appropriate Daily Cash Suspense Reports. Discrepancies are researched
and resolutions documented.
Effective 10/1/2019 to 12/19/2019, for certain DBIO contracts, SE2 was used to process and administer
participant lump sum and repetitive payments. SE2 payments were reconciled for completeness and
accuracy to the documentation received for processing. Effective 12/20/2019 all repetitive payments are
processed on PAS.

Defined Contribution and Defined Benefit Contributions and
Collections

DC Contributions and Collections from Plans and Participants

Contributions are allocated to participant accounts based on allocation instructions provided by the Plan
Sponsor or participant in accordance with contractual guidelines and are invested based on participants’
elected investment options. Contributions may include salary deferrals, company match, profit sharing
allocations, rollovers, and loan repayments.
PRS prevents posting of received contributions to Plans which are not established. PRS also prevents
processing of contributions entered outside of specified parameters (e.g. contract status, participant identity
and effective date). PRS system configurations perform contribution reconciliations validating that the
amounts input by source category (e.g. employee, employer, rollover, and loan) total to the client allocation
total amount entered and prevent processing of a contribution when the amount in the holding account is
not sufficient to fund the contribution file received.
Client electronically submitted contribution files go through a system validation. If the file received, the total
noted by the plan sponsor and the cash received (or the auto ACH feature of the plan is turned on) all
balance and there are no additional errors, the contribution will be automatically posted by PRS. Evidence
of the submission is detailed as “Auto Matched” or “ACH Auto Submit Has Occurred” comment within the
PRS ToDo.

Manual or electronically submitted files that do not balance, are not able to apply forfeitures systematically
or that have errors are reviewed by the recordkeeping operations associates, any discrepancies are
resolved, and the client is contacted if necessary. The reviews are evidenced by the submission of the PRS
ToDo (client submitted TRC files) or by the “Processed” status in AWD.

MassMutual Defined Benefit and Defined Description of the System Provided by
Contribution Recordkeeping Operations System MassMutual
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