Page 84 - 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

1.7 Validation routines are run for Inspected validation routine results for a selection of DB plans
both active and inactive payees. and determined that validation routines were run for both active
The results of these validation and inactive payees and saw evidence that the results were
routines are manually compared manually compared to information from the prior recordkeeper
to information from the prior provided by the Plan Sponsor to confirm that all of the data
record keeper and provided by the was input to LVAdmin correctly.
Plan Sponsor to confirm that all of
the data was input to LVAdmin Inspected validation routine results for a selection of DB plans
and determined that a new business associate researched and
correctly. Differences are
researched, explained and documented the resolution of any differences.
corrected in a timely manner by a No Exceptions Noted.
new business associate. The
comparison of the data validation
is evidenced on the “Dataload
Test Plan.” (DB)

1.8 The results of test plans Inspected the LVAdmin “Menu Installation Test Plan” and sign-
developed for all new plan off for a selection of new DB plans and determined that the
installations are approved and results of test plans developed for the new plan installations
signed-off on the LVAdmin “Menu selected were approved by the Manager of the DB LVAdmin
Installation Test Plan” by the DB Manager or team lead prior to putting the plan into production.
LVAdmin Manager or team lead
prior to putting the plan into No Exceptions Noted.
production. (DB)

1.9 New business associates Inspected the e-mail correspondence for a selection of DB
perform a walkthrough with the plans and determined that a new business associate
Plan Sponsor of the plan’s performed a walkthrough with the Plan Sponsors and received
features on the TRC including approval from the Plan Sponsors to proceed
benefit calculations, and receives before RetireSMART SM access was enabled and self-
approval to proceed from the Plan registration post cards were issued to participants via mail or e-
Sponsor before RetireSMART SM mail, if elected by the Plan Sponsor.
access is enabled and self-
registration post cards are issued No Exceptions Noted.
to participants via mail or e-mail, if
elected by the Plan Sponsor. (DB)

1.10 Pension Automation Oversite Inspected the LVAdmin “Menu Installation Test Plan” and sign-
associates review all plan off for a selection of DB new contracts and conversions and
information manually entered determined that a Pension Automation Oversite associate
LVAdmin is reviewed by reviewed plan information manually entered into LVAdmin for
comparing plan information to the new contracts and conversions. Reperformed the review by
details defined in the plan comparing plan information within LVAdmin to the details
documentation. (DB) defined in the plan documentation.
No Exceptions Noted.

MassMutual Defined Benefit and Defined Control Objectives, Related Controls and Tests of
Contribution Recordkeeping Operations System Operating Effectiveness
36