Empower buys MassMutual’s retirement plan business

Posted On: Jan. 8, 2021 9:38 AM CST

Greenwood Village, Colo.-based Empower Retirement LLC has finalized its $3.35 billion purchase of Massachusetts Mutual Life Insurance Co.’s retirement plan business, MassLive.com reports. Empower Retirement also said that it has brought in 1,700 former MassMutual employees and plans for them to work, eventually, at the former MassMutual offices in Enfield, Connecticut, and Phoenix, Arizona.