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EMPLOYERFiduciary AssureOffering your plan robust co-fiduciary supportfor investment selection and monitoringFOR EMPLOYER USE ONLY. NOT FOR USE WITH EMPLOYEES.

Fiduciary Assure At a GlanceIn your hands: Investment option recommendations A sample Investment Policy Statement Quarterly monitoring ofinvestment options Quarterly Market CommentaryAt your back: Shared fiduciary liability relating toinvestment selectionYou’re looking out foremployees. Who’s lookingout for you?You want your employees to succeed, notonly at work but also in preparing for theirretirement. You provide them with theresources and tools they need, while youmake available to them a group of diversifiedinvestments. It’s a job that comes with greatresponsibility and sometimes, liability. All thepositive things you do can be undone witheven the simplest misunderstanding of yourfiduciary responsibility.But don’t worry. MassMutual’s FiduciaryAssure program, powered by EnvestnetRetirement Solutions, LLC (ERS) is hereto support you. By providing investmentrecommendations that are compliant withERISA Section 404(c), the Fiduciary Assureservice may help insulate you against legalclaims that can result from offering inadequateor inappropriate investments.What is my fiduciaryresponsibility?If you’re not sure, you’re not alone. It’s one ofthe most complex and misunderstood parts ofadministering a retirement plan. And not everyplan sponsor has the time and resources to stayon top of it all. Among your responsibilitiesas plan fiduciary is investment selection. Insimplest terms, if you select investments for aplan or hire someone to do it for you, you havefiduciary responsibilities.40%OF SPONSORSS AY T H E Y A R E N ’ TA F I D U C I A RYOR AREN’T SURE20%AREN’T SURE IFT H E I R A DV I S E R I SA F I D U C I A RYMassMutual proprietary plan sponsor surveyconducted by Greenwald & Associates, 9/8/2015.In simplest terms, if youselect investments for aplan or hire someone todo it for you, youhave fiduciaryresponsibilities.FOR EMPLOYER USE ONLY. NOT FOR USE WITH EMPLOYEES.

How it WorksFiduciary 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 tobe an investment expert. You don’t have to shoulder all the responsibility yourself for investmentselection. Working with a financial professional, you can select the program that best suits yourplan’s needs.C H O O S E YO U R O P T I O N SFiduciary Assure 3(21)ERS offers non-discretionaryfiduciary support.Fiduciary Assure 3(38)ERS acts with discretion as aninvestment manager.During the initial investment selection process, ERS provides investmentrecommendations that are compliant with ERISA Section 404(c).Plan set-upPlan sponsor develops the investmentlineup ensuring that at least one ERSApproved List1 fund from each coreasset class is included. Plan sponsorsmay also choose the ERS Select List2,a pre-selected plan investment lineup.ERS or plan sponsor develops the investmentlineup ensuring that at least one ERSApproved List1 fund from each core assetclass is included. Plan sponsors may alsochoose the ERS Select List2, a pre-selectedplan investment lineup.Asset classrequirementLine-up must include one Approved List fund in each of four core asset classes: cashequivalent, domestic bond, domestic equity, and foreign equity.Investment policystatementAs part of the service, Fiduciary Assure provides a sample Investment Policy Statementto demonstrate that the plan is monitored from an objective point of reference.Monitoring andreportingERS monitors your plan and reports back how your investments are doing. Yourquarterly 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 tostyle, cost, organization, risk, and executionOngoingmaintenancePlan sponsor is responsible for makingongoing investment line-up changesin order to maintain core asset classrequirements.CostIncluded in standard new plan pricing.3ERS will direct MassMutual to adjust theinvestment lineup as needed in order tomeet core asset class requirements. The plansponsor would also have the ability to consultwith ERS on proposed investment changes,prior to execution. 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 assetclass 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 toserve 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 plansmay be subject to a pricing review.1FOR EMPLOYER USE ONLY. NOT FOR USE WITH EMPLOYEES.1

Competitive advantageAdditionally, MassMutual’s flexible 3(38) Fiduciary Assure program stands out when compared tothe industry standard, as shown below.MassMutual 3(38) programIndustry standard 3(38) programFlexibilityPlan lineup created from a broad array of ERSApproved List/Select List funds, offering addedflexibility and smoother plan conversions.Plan lineup limited to a narrow,predetermined list.Cost3(38) program is included in standard newbusiness pricing.43(38) programs are assessed an additionalfee ranging from 2 bps. to 6 bps.Standing behind youAs a plan sponsor, you retain overall fiduciaryliability for your plan. But through FiduciaryAssure, Envestnet Retirement Solutions actsas an investment co-fiduciary for investmentson its Approved List. ERS will perform itsindependent duties to the plan, and fulfill theplan obligations with respect to investmentoption monitoring in compliance with ERISA.This agreement helps mitigate the investmentoption selection and monitoring risks assumedunder ERISA.5Meet Envestnet Retirement SolutionsEnvestnet Retirement Solutions, LLC (ERS)is an SEC-registered investment adviser andis the fiduciary provider for the MassMutualFiduciary Assure program.ERS is a majority-owned subsidiary ofEnvestnet, Inc. (NYSE: ENV). ERS andEnvestnet, Inc. are not affiliated withMassMutual or any of its subsidiaries. An additional 2 bps. may be charged for new custom priced plans or plans with assets greater than 5 million. Existing plansmay be subject to a pricing review.5The specific legal protection offered by ERS is governed by the agreement between ERS and the plan sponsor. Nothingstated in this brochure is intended to modify such agreement.4FOR EMPLOYER USE ONLY. NOT FOR USE WITH EMPLOYEES.2

Making it easyFiduciary Assure is entirely online, which means you can access your plan’s information wheneveryou need it. As plan sponsor, you’ll have a custom webpage at the ERS site where you’ll find all yourdocumentation, reports, commentary, and more. You can also visit the site to learn more about ERSand to e-sign your sponsor agreement.We’re proud to offer you Fiduciary Assure as part of ourcommitment to help you meet your fiduciary responsibilities.To learn more, visit www.envestnetrs.com/fiduciaryassure.FOR EMPLOYER USE ONLY. NOT FOR USE WITH EMPLOYEES.33

Services, Fees and Compensation under theFiduciary Assure ProgramFiduciary Assure Program: Fiduciary Assureis an investment advisory service supported byEnvestnet Retirement Solutions, LLC (“ERS”),an investment adviser registered with the SECunder the Investment Advisers Act of 1940.We have a contract with ERS under which ERSprovides services for the Fiduciary Assureprogram. ERS is not affiliated with us or any ofour affiliates.The Fiduciary Assure service is available underour retirement services program to you as plansponsor, to help you select the investmentoptions for your plan. When you participatein the Fiduciary Assure Program, ERS willbe an investment adviser to your plan withrespect to the investment option selectionand monitoring services it provides to yourplan under the terms of its Advisory ServicesAgreement with you. There are two types ofFiduciary Assure services: Non-Discretionary Fiduciary Services(also called the “3(21) Services”). Ifyou elect to participate in the 3(21)Fiduciary Assure service, ERS will crossreference your plan’s investment optioninformation with ERS’s proprietarymethodology on at least a quarterlybasis, in accordance with the terms ofERS’s Advisory Services Agreement withyou, in order to determine the appropriateness of your plan’s investmentoptions. ERS will also provide you witha quarterly electronic communicationconfirming that the plan investmentoption review resulted in either (1) arecommendation to maintain yourexisting plan investment options, or(2) a report that contains a recommendationto replace one or more of your planinvestment options with an alternativeinvestment option. ERS will acknowledge thatit is acting as a fiduciary under Section 3(21)(A)(ii) of ERISA with respect to your plan ifyou elect this service, provided that certainminimum criteria specified in the AdvisoryServices Agreement are met. Discretionary Fiduciary Services (alsocalled the “3(38) Services”). If you electto participate in the 3(38) FiduciaryAssure service, you agree to give ERSdiscretionary fiduciary authority toreview your plan’s investment optionsand to instruct MassMutual to add,remove and/or replace specific “core”investment options to be offered to planparticipants in accordance with criteriadescribed in your plan’s investmentpolicy statement and the terms of ERS’sAdvisory Services Agreement with you.ERS will agree to act as a fiduciary underERISA and will serve as an “investmentmanager” as defined in Section 3(38)of ERISA with respect to your plan ifyou elect this service, provided thatcertain minimum criteria specified in theAdvisory Services Agreement are met.If you elect to participate in one of theFiduciary Assure services, ERS will agree todischarge its duties regarding its services forthe selection and monitoring of your plan’sinvestment options on the Approved List orSelect List in accordance with the standard ofcare applicable under ERISA as described inyour Advisory Services Agreement with ERS.FOR EMPLOYER USE ONLY. NOT FOR USE WITH EMPLOYEES.4