E M P LOY E R

Fiduciary AssureOffering your plan robust co-fiduciary support for investment selection and monitoring

FOR EMPLOYER USE ONLY. NOT FOR USE WITH EMPLOYEES.

FOR EMPLOYER USE ONLY. NOT FOR USE WITH EMPLOYEES.

In your hands:• Investment option recommendations• A sample Investment Policy Statement• Quarterly monitoring of

investment options• Quarterly Market Commentary

At your back:• Shared fiduciary liability relating to

investment selection

You’re looking out for employees. Who’s looking out for you?You want your employees to succeed, not only at work but also in preparing for their retirement. You provide them with the resources and tools they need, while you make available to them a group of diversified investments. It’s a job that comes with great responsibility and sometimes, liability. All the positive things you do can be undone with even the simplest misunderstanding of your fiduciary responsibility.

But don’t worry. MassMutual’s Fiduciary Assure program, powered by Envestnet Retirement Solutions, LLC (ERS) is here to support you. By providing investment recommendations that are compliant with ERISA Section 404(c), the Fiduciary Assure service may help insulate you against legal claims that can result from offering inadequate or inappropriate investments.

What is my fiduciary responsibility? If you’re not sure, you’re not alone. It’s one of the most complex and misunderstood parts of administering a retirement plan. And not every plan sponsor has the time and resources to stay on top of it all. Among your responsibilities as plan fiduciary is investment selection. In simplest terms, if you select investments for a plan or hire someone to do it for you, you have fiduciary responsibilities.

Fiduciary Assure At a Glance

40%O F S P O N S O R S

S AY T H E Y A R E N ’ T A F I D U C I A R Y

O R A R E N ’ T S U R E

20%A R E N ’ T S U R E I F

T H E I R A D V I S E R I S A F I D U C I A R Y

In simplest terms, if you select investments for a plan or hire someone to do it for you, you have fiduciary responsibilities.

MassMutual proprietary plan sponsor survey conducted by Greenwald & Associates, 9/8/2015.

1FOR EMPLOYER USE ONLY. NOT FOR USE WITH EMPLOYEES.

How it Works

Fiduciary Assure gives you objective guidance from Envestnet Retirement Solutions, LLC (ERS) — an independent third party — when making investment selections for your plan. You don’t have to be an investment expert. You don’t have to shoulder all the responsibility yourself for investment selection. Working with a financial professional, you can select the program that best suits your plan’s needs.

1 Approved List — A broad range of investment options in four core diverse asset classes appropriate for retirement investing: Cash Equivalent, Domestic Bond, Domestic Equity, and Foreign Equity. You must choose at least one option from each asset class to build your plan lineup.

2 Select List — Fiduciary Assure selects from the Approved List for you, creating a subset that you can conveniently pick to serve as your plan’s investment lineup.

3 An additional 2 bps. may be charged for new custom priced plans or plans with assets greater than $5 million. Existing plans may be subject to a pricing review.

C H O O S E Y O U R O P T I O N SFiduciary Assure 3(21)

ERS offers non-discretionary fiduciary support.

Fiduciary Assure 3(38) ERS acts with discretion as an

investment manager.

Plan set-up

During the initial investment selection process, ERS provides investment recommendations that are compliant with ERISA Section 404(c).

Plan sponsor develops the investment lineup ensuring that at least one ERS Approved List1 fund from each core asset class is included. Plan sponsors may also choose the ERS Select List2, a pre-selected plan investment lineup.

ERS or plan sponsor develops the investment lineup ensuring that at least one ERS Approved List1 fund from each core asset class is included. Plan sponsors may also choose the ERS Select List2, a pre-selected plan investment lineup.

Asset class requirement

Line-up must include one Approved List fund in each of four core asset classes: cash equivalent, domestic bond, domestic equity, and foreign equity.

Investment policy statement

As part of the service, Fiduciary Assure provides a sample Investment Policy Statement to demonstrate that the plan is monitored from an objective point of reference.

Monitoring and reporting

ERS monitors your plan and reports back how your investments are doing. Your quarterly report includes:• An updated Approved List with the current investment options• Market Commentary on the previous quarter• ERS’s unique S.C.O.R.E. Model, which evaluates your plan investments according to

style, cost, organization, risk, and execution

Ongoing maintenance

Plan sponsor is responsible for making ongoing investment line-up changes in order to maintain core asset class requirements.

ERS will direct MassMutual to adjust the investment lineup as needed in order to meet core asset class requirements. The plan sponsor would also have the ability to consult with ERS on proposed investment changes, prior to execution.

Cost Included in standard new plan pricing.3

2FOR EMPLOYER USE ONLY. NOT FOR USE WITH EMPLOYEES.

Standing behind youAs a plan sponsor, you retain overall fiduciary liability for your plan. But through Fiduciary Assure, Envestnet | Retirement Solutions acts as an investment co-fiduciary for investments on its Approved List. ERS will perform its independent duties to the plan, and fulfill the plan obligations with respect to investment option monitoring in compliance with ERISA. This agreement helps mitigate the investment option selection and monitoring risks assumed under ERISA.5

Meet Envestnet | Retirement Solutions Envestnet | Retirement Solutions, LLC (ERS) is an SEC-registered investment adviser and is the fiduciary provider for the MassMutual Fiduciary Assure program.

ERS is a majority-owned subsidiary of Envestnet, Inc. (NYSE: ENV). ERS and Envestnet, Inc. are not affiliated with MassMutual or any of its subsidiaries.

Competitive advantageAdditionally, MassMutual’s flexible 3(38) Fiduciary Assure program stands out when compared to the industry standard, as shown below.

4 An additional 2 bps. may be charged for new custom priced plans or plans with assets greater than $5 million. Existing plans may be subject to a pricing review.

5 The specific legal protection offered by ERS is governed by the agreement between ERS and the plan sponsor. Nothing stated in this brochure is intended to modify such agreement.

MassMutual 3(38) program Industry standard 3(38) program

FlexibilityPlan lineup created from a broad array of ERS Approved List/Select List funds, offering added flexibility and smoother plan conversions.

Plan lineup limited to a narrow, predetermined list.

Cost3(38) program is included in standard new business pricing.4

3(38) programs are assessed an additional fee ranging from 2 bps. to 6 bps.

3

Making it easyFiduciary Assure is entirely online, which means you can access your plan’s information whenever you need it. As plan sponsor, you’ll have a custom webpage at the ERS site where you’ll find all your documentation, reports, commentary, and more. You can also visit the site to learn more about ERS and to e-sign your sponsor agreement.

We’re proud to offer you Fiduciary Assure as part of our commitment to help you meet your fiduciary responsibilities.

To learn more, visit www.envestnetrs.com/fiduciaryassure.

3FOR EMPLOYER USE ONLY. NOT FOR USE WITH EMPLOYEES.

4FOR EMPLOYER USE ONLY. NOT FOR USE WITH EMPLOYEES.

Services, Fees and Compensation under the Fiduciary Assure® Program

Fiduciary Assure® Program: Fiduciary Assure is an investment advisory service supported by Envestnet Retirement Solutions, LLC (“ERS”), an investment adviser registered with the SEC under the Investment Advisers Act of 1940. We have a contract with ERS under which ERS provides services for the Fiduciary Assure program. ERS is not affiliated with us or any of our affiliates.

The Fiduciary Assure service is available under our retirement services program to you as plan sponsor, to help you select the investment options for your plan. When you participate in the Fiduciary Assure Program, ERS will be an investment adviser to your plan with respect to the investment option selection and monitoring services it provides to your plan under the terms of its Advisory Services Agreement with you. There are two types of Fiduciary Assure services:

• Non-Discretionary Fiduciary Services (also called the “3(21) Services”). If you elect to participate in the 3(21) Fiduciary Assure service, ERS will cross-reference your plan’s investment option information with ERS’s proprietary methodology on at least a quarterly basis, in accordance with the terms of ERS’s Advisory Services Agreement with you, in order to determine the appropri-ateness of your plan’s investment options. ERS will also provide you with a quarterly electronic communication confirming that the plan investment option review resulted in either (1) a recommendation to maintain your existing plan investment options, or

(2) a report that contains a recommendation to replace one or more of your plan investment options with an alternative investment option. ERS will acknowledge that it is acting as a fiduciary under Section 3(21)(A)(ii) of ERISA with respect to your plan if you elect this service, provided that certain minimum criteria specified in the Advisory Services Agreement are met.

• Discretionary Fiduciary Services (also called the “3(38) Services”). If you elect to participate in the 3(38) Fiduciary Assure service, you agree to give ERS discretionary fiduciary authority to review your plan’s investment options and to instruct MassMutual to add, remove and/or replace specific “core” investment options to be offered to plan participants in accordance with criteria described in your plan’s investment policy statement and the terms of ERS’s Advisory Services Agreement with you. ERS will agree to act as a fiduciary under ERISA and will serve as an “investment manager” as defined in Section 3(38) of ERISA with respect to your plan if you elect this service, provided that certain minimum criteria specified in the Advisory Services Agreement are met.

If you elect to participate in one of the Fiduciary Assure services, ERS will agree to discharge its duties regarding its services for the selection and monitoring of your plan’s investment options on the Approved List or Select List in accordance with the standard of care applicable under ERISA as described in your Advisory Services Agreement with ERS.

For more information about the Fiduciary Assure Program and these services, please see the ERS Advisory Services Agreement.

• Compensation We Pay to ERS with respect to the Fiduciary Assure Program: Beginning in 2016, we will pay

ERS an asset based fee for its services with respect to the Fiduciary Assure Program. These fees will use a tiered scale based on total plan assets serviced through MassMutual and range from 1.25 basis points to 0.75 basis points

Fees Charged to Your Plan: The fees charged to your plan for the Fiduciary Assure services are as follows:

5FOR EMPLOYER USE ONLY. NOT FOR USE WITH EMPLOYEES.

Plans Under $5M Plans $5M+/Custom Priced

3(21) Services

Included in standard pricing at no additional charge

If the 3(21) Fiduciary Assure service becomes effective for your plan on or after April 1, 2016, we will include in your plan pricing an additional expense which is equal to an annual charge of 2 basis points (0.02%) of your plan’s asset value.

Included in standard pricing at no additional charge

If the 3(21) Fiduciary Assure service became effective for your plan prior to April 1, 2016, we will include in your plan pricing an additional expense which is equal to an annual charge based on the following table:

Plan Asset Value Charge (as a % of Plan Asset Value)

$5M — 49,999,999 0.02%$50M — 199,999,999

0.015%

200M+ 0.01%

3(38) Services Included in standard pricing at no additional charge

If you elect the 3(38) Fiduciary Assure service, we will include in your plan pricing an additional expense which is equal to an annual charge of 2 basis points (0.02%) of your plan’s asset value.

MassMutual is not acting as an investment adviser to you or the plan in respect to the services provided by ERS. MassMutual provides certain administrative and other services to facilitate the services provided by ERS. MassMutual has no authority, responsibility or discretion with respect to the determination of the investment options under the plan and is not authorized to provide any investment advice to a plan or a plan participant in connection with the services provided by ERS. ERS is only authorized to provide investment advice to a plan sponsor in connection with its Fiduciary Assure services.

© 2018 Massachusetts Mutual Life Insurance Company (MassMutual), Springfield, MA 01111-0001. All rights reserved. www.massmutual.com.RS7701 118 C:RS-39832-02

The information provided is not written or intended as specific tax or legal advice. MassMutual, its subsidiaries, employees and representatives are not authorized to give tax or legal advice. Individuals are encouraged to seek advice from their own tax or legal counsel.

FOR EMPLOYER USE ONLY. NOT FOR USE WITH EMPLOYEES.

Financial readiness, readily available for your employees Creating a workplace where people feel supported and confident about their financial future begins with the choice you make in a benefits partner, because when your employees are confident about their financial future, chances are they’re more productive in the present. MassMutual@work helps you to build a committed workforce, with retirement and protection solutions all paired with guidance to help your employees improve their financial wellness. You’ve got this.

To learn more about how we can help, speak with your financial professional or local team at MassMutual.