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MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY
Defined Benefit and Defined Contribution

Recordkeeping Operations System

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

4.4 For Individually Rated GIA For a selection of contracts inspected the AWD workflow status
contracts, an associate enters the or the entry within the validation tool and determined that an
guaranteed crediting rates into independent team member compared and signed-off on the
PRS and CAS, if applicable. A accuracy of the guaranteed crediting rates entered into PRS
quality review for PRS rates is through inspection of a query that was run post PRS data entry.
evidenced by a rate entry No Exceptions Noted.
validation tool post data entry, with
any discrepancies researched and
corrections made if necessary. For
DB plans an independent team
member reviews the CAS entries
for accuracy, the review is
evidenced by “Passed” status in
AWD. (DB & DC)

4.5 For Pooled contracts, an FSA Inspected annual and semi-annual GIA interest crediting rates
reviews and approves annual and calculated by a SVM associate and the annual and semi-annual
semi-annual guaranteed crediting inter-office rate memo on guaranteed crediting rates for a
rates calculated by a SVM selection of New Business and Pooled contracts in PRS and
associate prior to input into PRS. determined that an FSA reviewed and approved the rates prior
The approval and review is to their input into PRS.
evidenced by distribution of an
inter-office rates memo. (DB & DC) No Exceptions Noted.

4.6 For Pooled contracts, SVM For a selection of contracts, inspected the validation tool of
enters the guaranteed crediting Pooled contract annual and semi-annual guaranteed crediting
rates into PRS. A quality review is rate renewals and determined that an independent team
evidenced via a rate entry member confirmed the accuracy of the “book value” guaranteed
validation tool post entry, with any crediting rates that were entered into PRS and signed off on a
discrepancies researched and query that was run post PRS data entry.
corrections made if necessary. (DB
& DC) No Exceptions Noted.

4.7 For contracts that have elected Inspected the guaranteed crediting rates for a selection of
the SAGIC or Capital Preservation contracts that elected the SAGIC or Capital Preservation
investment options the SVM team investment option and determined that the guaranteed crediting
lead reviews and approves for rates that were calculated by a SVM associate were reviewed
accuracy the guaranteed crediting and approved prior to input into PRS through email
rates calculated by a SVM communication.
associate prior to input into PRS
and CAS, if applicable. The review No Exceptions Noted.
and approval is evidenced by an
email. (DB & DC)

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