Massachusetts Mutual Life Insurance Company (MassMutual) has completed its previously announced acquisition of The Hartford’s Retirement Plans business. 

"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," Roger Crandall, MassMutual’s chairman, president and CEO, said in a statement. "This is a great day for our company, as the closing of this acquisition underscores MassMutual’s commitment to the retirement market and enables us to further accelerate the outstanding momentum in our retirement business. We look forward to a smooth and seamless integration and the important benefits this acquisition will bring to our company, our clients and our policy owners."

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.

The combined business now has approximately 40,000 retirement plans, three million participants, and $120 billion in retirement assets under management.