Massachusetts Mutual Life Insurance Co. (MassMutual) has completed its acquisition of The Hartford’s retirement plans business.  This transaction will nearly double the number of MassMutual’s retirement plan participants to approximately three million.

"We are pleased to complete this transaction and welcome the employees, clients and other business partners of The Hartford’s retirement plans business to MassMutual," said Roger Crandall, chairman, president and CEO of MassMutual in a statement.  "The closing of this acquisition underscores MassMutual’s commitment to the retirement market."

The combined retirement services business will be led by Elaine Sarsynski, executive vice president and head of MassMutual’s retirement services division and chairman and CEO of MassMutual International LLC. 

"Our goal is to ensure a seamless experience for the new employees, clients and partners we are welcoming to MassMutual," said Sarsynski in a statement.

MassMutual’s retirement plans business focuses on the mid-size market and offers defined benefit, defined contribution and nonqualified deferred compensation plans.  The newly acquired business from The Hartford focuses on the small- to mid-size and tax exempt retirement markets and also provides administrative services for defined benefit programs.  The combined business now has approximately 40,000 retirement plans, three million participants, and $120 billion in retirement assets under management.