Page 85 - 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

1.11 Plans are reviewed for Inspected the “Compliance Review Checklist” for a selection of
compliance with regulatory DB plans and determined that Regulatory Advisory Services
requirements by Regulatory reviewed that the plans were setup in accordance with
Advisory Services as evidenced regulatory requirements.
by the completion of the
“Compliance Review Checklist.” No Exceptions Noted.
(DB)

Complementary User Entity Controls

DB & DC Plan Sponsors should have controls in place to provide plan set up information to
MassMutual completely, accurately, and timely.
DC Plan Sponsors should have controls in place to ensure that the approval of the “Administrative
Services Agreement,” the “TPA New Business Application” or an “Investment Agreement” was
made by authorized personnel prior to MassMutual accepting funds in the setup of a new contract,
contract conversion or an internal spin-off.
Plan Sponsors should have controls in place to ensure that instructions and information provided to
MassMutual are in accordance with the provisions of the contract/trust document or other
applicable governing agreements or documents in effect between MassMutual and the Plan
Sponsor.
DB Plan Sponsors should have controls in place to ensure that the approval of an “Investment
Allocation Letter” or “Services Agreement” was made by authorized personnel prior to MassMutual
accepting funds in the setup of a new contract/trust document or conversion.
DB Plan Sponsors should have controls in place to review the Plan Provision Guide provided by
MassMutual for completeness and accuracy of plan interpretation and notify MassMutual of any
discrepancies in a timely manner.
DB Plan Sponsors should have controls in place to participate in a plan walkthrough on the TRC at
which the plan’s features including benefit calculations are reviewed.

MassMutual Defined Benefit and Defined Control Objectives, Related Controls and Tests of
Contribution Recordkeeping Operations System Operating Effectiveness
37