Lauren Penko June 5, 2014

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Retiree Support Group Retirement: Taking Control of your Future

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Welcome

Today’s Agenda: • Who is MassMutual?• Retirement Readiness • Asset Allocation• Understanding Your Options • MassMutual Information Resources

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Who Is MassMutual?

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Who Is MassMutual?

• Your Contra Costa County plan record-keeper• In business for 160 years and in the retirement services business for more

than 65 years• Massachusetts Mutual Life Insurance Company (MassMutual) and its

subsidiaries include:• OppenheimerFunds, Inc.• Babson Capital Management, LLC • Baring Asset Management, LLC• Cornerstone Real Estate Advisers, LLC• The First Mercantile Trust Company• MML Investors Services, LLC

• Recognized by FORTUNE magazine as one of the World’s Most Admired Companies (March 2012); ranked as a top 100 company by Working Mother magazine (October 2011); named one of 25 Noteworthy companies by Diversity Inc (June 2012)

• Rated1 AA+ (Very Strong) by Standard & Poor’s, and A++ (Superior) by A.M. Best Company

Retirement Leader of the Year awarded by Fund Industry Intelligence (Euromoney Institutional Investor), April 2012 1 Financial strength ratings are for Massachusetts Mutual Life Insurance Company and do not apply to any separate investment accounts or mutual funds offered under the contract. Ratings are as of February, 2013 and are subject to change.

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RetirementReadiness

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Retirement Readiness: Retirement Reality

• Pre-retiree population is growing and living longer

• Research shows large numbers of pre-retirees are financially under-prepared

W 81.1 YrsM 76.2 Yrs

69.1 Yrs

2012

1950

Source of chart data: National Center for Health Statistics, National Vital Statistics Report, January, 2012.

Life Expectancy

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25 Years

Retirement Readiness: Inflation Matters

What will it cost to maintain your lifestyle? (Example of what 3% inflation can do to a $50,000 per yearstandard of living)

Hypothetical example for illustrative purposes only.  Not intended to reflect actual inflation rates.  Individual experience will likely vary.

$104,689$90,30620 Years$77,89815 Years$67,19610 Years$57,9645 Years

In . . . You’ll need . . .

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Asset Allocation

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Asset Allocation: Choosing an Investment Mix

• Diversification can help offset the effect of inflation• In retirement: Consider a more conservative

portfolio• Consider Target Risk or Target Retirement Date

Funds • Don’t retire from investing

– Remember, you could spend more than 20 years in retirement– Your needs may change over time – therefore you should review

your retirement plan at least annually

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RISK DISCLOSURES FOR CERTAIN ASSET CATEGORIES - PLEASE NOTE THAT YOUR PLAN MAY NOT OFFER ALL OF THE INVESTMENT OPTIONS DISCUSSED BELOW.

If a retirement plan fully or partially terminates its investment in the Guaranteed Interest Account (GIA), SF Guaranteed, Fixed Interest Account or SAGIC investment options, the plan receives the liquidation value of its investment, which may either be more or less than the book value of its investment. As a result of this adjustment, a participant’s account balance may be either increased or decreased if the plan fully or partially terminates the contract with MassMutual.

Money market investments are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although these investments seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in a money market option.

Risks of investing in inflation-protected bond investments include credit risk and interest rate risk. Neither the bond investment nor its yield is guaranteed by the U.S. Government.

High yield bond investments are generally subject to greater market fluctuations and risk of loss of income and principal than lower yielding debt securities investments.

Investment option(s) that track a benchmark index are professionally managed investments. However, the benchmark index itself is unmanaged and does not incur fees or expenses and cannot be purchased directly for investment.

Investments in companies with small market capitalization (‘small caps’) may be subject to special risks given their characteristic narrow markets, limited financial resources, and less liquid stocks, all which may cause price volatility.

International investing can involve special risks, such as, political changes and currency fluctuations. These risks are heightened in emerging markets. You cannot transfer into international investment options if you have already made a purchase followed by a sale (redemption) involving the same investment within the last sixty days. In addition, you may not request a transfer into certain international investment options between 2:30 and 4 p.m. ET. Other trading restrictions may apply. Please see the investment’s prospectus for more details.

Investment Option Disclosure

A significant percentage of the underlying investments in ultra aggressive asset allocation portfolio options have a higher than average risk exposure. Investors should consider their risk tolerance carefully before choosing such a strategy. Such investment options include any ultra aggressive asset allocation portfolio options that may be offered under the plan as well as RetireSMART 2040 and 2050 and RetireSMART Ultra Aggressive options.

It is important to note that an investment option with mutual funds in its portfolio may be subject to the expenses of those mutual funds in addition to those of the investment option itself.

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RISK DISCLOSURES FOR CERTAIN ASSET CATEGORIES - PLEASE NOTE THAT YOUR PLAN MAY NOT OFFER ALL OF THE INVESTMENT OPTIONS DISCUSSED BELOW.

Generally target retirement date (lifecycle) investment options are designed to be held beyond the presumed retirement date to offer a continuing investment option for the investor in retirement. The year in the investment option name refers to the approximate year an investor in the option would plan to retire and likely would stop making new contributions to the investment option. However, investors may choose a date other than their presumed retirement date to be more conservative or aggressive depending on their own risk tolerance. Target retirement date (lifecycle) investment options are designed for participants who plan to withdraw the value of their accounts gradually after retirement. Each of these options follows its own asset allocation path (“glide path”) to progressively reduce its equity exposure and become more conservative over time. Options may not reach their most conservative allocation until after their target date. Others may reach their most conservative allocation in their target date year. Investors should consider their own personal risk tolerance, circumstances and financial situation. These options should not be selected solely on a single factor such as age or retirement date. Please consult the prospectus (if applicable) pertaining to the options to determine if their glide path is consistent with your long-term financial plan. Target retirement date investment options’ stated asset allocation may be subject to change. Investments in these options are not guaranteed and you may experience losses, including losses near, at, or after the target date. Additionally, there is no guarantee that the options will provide adequate income at and through retirement.

Participants with a large ownership interest in a company or employer stock investment option may have the potential to manipulate the value of units of this investment option through their trading practices. As a result, special transfer restrictions may apply. This type of investment option presents a higher degree of risk than diversified investment options under the plan because it invests in the securities of a single company.

Investments may reside in the specialty category due to 1) allowable investment flexibility that precludes classification in standard asset categories and/or 2) investment concentration in a limited group of securities or industry sector(s). Investments in this category may be more volatile than less-flexible and/or less-concentrated investments and may be appropriate as only a minor component in an investor’s overall portfolio.

Investment Option Disclosure

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Asset Allocation: Understanding Risk vs. Return

These sample allocation percentages are used only to demonstrate different risk/return models and are not intended to represent or recommend any particular investment or strategy. An asset allocation does not assure a profit or protect against loss in declining financial markets.

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• Market ups and downs can change your allocation over time• Rebalancing can bring your investments back to your original

asset allocation

Sample allocation data is for illustration purposes only.

Stocks 60%

Stocks 70%

Fixed-Income

40%

Fixed-Income

30%

Stocks 60%

Fixed-Income

40%

Original Asset Allocation Asset Allocation Over Time Rebalanced Asset Allocation

Asset Allocation: The Effects of Time

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Understanding Your Options

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Understanding Your Options: Retirement Plan Distributions

Take a Cash Distribution

Remain in Plan with MassMutual

Traditional IRA Rollover

Purchase an Annuity

Installments

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Understanding Your Options: Staying with MassMutual

• Maintain control over your account• Account balance continues to benefit from the

tax-deferred growth opportunity until withdrawn• Same investment options offered as active

employees• Contact a retirement specialist, toll free phone

service 1-800-528-9009• Required Minimum Distribution at age 70-1/2

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Understanding Your Options: Taking Installment Payments

• Allows you to collect regular income• The rest of your account balance continues to

benefit from the tax-deferred growth opportunity• Provides easy access to your money • Payments are taxed in the year you receive them

Note: If you choose an installment time period less than 10 years, there will be a mandatory withholding of 20% from the taxable portion of your account balance. Otherwise, withholding is optional. Age-based penalties and mandatory withholding may apply. There is no guarantee that installment payments will continue for your lifetime. Payments will stop once your account is depleted. If you die before your account balance is depleted, a death benefit will be paid to your designated beneficiary. If your installment payments are paid over life expectancy or a fixed time period, the payment amount is determined by dividing your current account balance by the remaining payment term and recalculated for each payment. If you are married and want to elect installment payments, your spouse will have to consent.

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Understanding Your Options: Traditional IRA Roll Over

• Continue to receive tax-deferred treatment until withdrawn

• Control over your money

• Flexibility to make a different choice later

• Possible to choose investment options separate from employer’s plan

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Understanding Your Options: Purchasing an Annuity

• Provides you with monthly income for as long as you live

• Monthly payments allow for easy budgeting

• Payments are taxed in the year you receive them

• Ability to annuitize part of your account and keep the other portion invested

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Understanding Your Options: Taking the Cash

• After you separate from service from your employer

• Upon distribution, taxes apply

• Immediate access to funds, no age wait

• No early withdrawal penalty

This is not all-inclusive. For more information, you should contact the plan participant call center.

Consider consulting a tax advisor prior to distributions.

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Understanding Your Options: Required Minimum Distributions

Deadline for Withdrawals:– First Required Beginning Date (RBD):

April 1st of the calendar year after the year you reach age 70½

– Subsequent Required Minimum Distributions (RMDs):

December 31st of each year

Penalty: 50% on the shortfall!

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RMDs are calculated based on two Life Expectancy Tables:

– Joint Life & Last Survivor Life Expectancy: Owner whose spouse is the sole beneficiary and more than 10 years younger

– Uniform Table (old MDIB Table) for everyone Else!

Understanding Your Options: Required Minimum Distributions

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Contact MassMutual

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MassMutual Is Here to Help

• Automated Telephone Services: 1-800-528-9009– Customer Service Representatives 5 a.m. to

5 p.m. (PT)

• Participant Retirement Plan Website: www.massmutual.com/serve

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Thank You!

Questions?The information reflected in this presentation is not intended to be investment, tax or legal advice. For questions relating to your personal situation, it is strongly recommended that you consult with your own financial or legal adviser.

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© 2013 Massachusetts Mutual Life Insurance Company, Springfield, MA. All rights reserved. www.massmutual.com. MassMutual Financial Group is a marketing name for Massachusetts Mutual Life

Insurance Company (MassMutual) and its affiliated companies and sales representatives.