Mass Mutual Financial Group has acquired Golden
Retirement Resources, a New York-based firm that develops and
distributes products and services for the retirement-income market,
MassMutual announced today.
The sale price and other financial terms of the deal were not disclosed.
Under the terms of he deal, MassMutual Holding LLC, a subsidiary of Massachussets Mutual Life Insurance Company, has purchased a majority of Golden Retirement Resources, with the intent of owning the entire company by the end of the year.
Golden Retirement Resources has been renamed the Income Management Strategies Division of MassMutual's Income Management Group, which was created last year to specialize in retirement-income solutions.
Golden Retirement Resources was founded in 1999 and developed the patent-pending retirement-income planning and management system called RetireMentor, which targets middle-market and affluent retiring baby boomers, according to MassMutual.