2010 Corporate Responsibility Report - MassMutual

2010 Corporate

Responsibility Report

Contents

1 | A message from our

Chairman, President and CEO

3 | Community

8 | Culture

12 | People

15 | Planet

(This report contains information from Jan. 1, 2010 to April 19, 2011.)

A message from our Chairman, President and CEO

I¡¯m barely competent with a hammer, let alone

with an electric drill. I know a few others,

however, who are measurably better, like the

MassMutual volunteer whose skill with a table

saw was put to good use, the head of our U.S.

Insurance Group, or the retired lawyer from our

Government Relations team who was the 2010

Volunteer of the Year for the local chapter of

Habitat for Humanity. When you work together

with 300 other MassMutual volunteers to build

a family¡¯s dream home, you get to know the

carpentry skills of your co-workers and their

commitment to our community first-hand.

Massachusetts Mutual Life Insurance Company has a

history that now spans over 160 years. As a mutual company,

we have put the needs of people first, managing the company

with the long-term interests of our policyholders and

customers in mind.

Operating responsibly within these diverse communities is

We have grown up in Springfield, Mass., employing its

something we hold ourselves accountable for, and we are

talented citizens, supporting its culture, and providing sweat

excited by the opportunities to help make positive changes in

equity in strengthening its neighborhoods. We still do. But as

the lives of so many people that also benefit our business:

a Fortune 500 company offering products through more than

5,000 financial professionals, our reach is a lot longer than it

used to be.

? One opportunity is in helping develop a future

workforce for Springfield, its surrounding

communities, agent communities across the

Today, there are many proud examples of our community

country ¨C and for MassMutual. We do this through

responsibility both here at home and in other communities

successful education programs like the Career

where our policyholders, customers and financial profes-

Pathways initiative we¡¯ve created or the scholarships

sionals live and work. We do this through charitable giving,

our agencies award to multicultural students in nine

with passionate employee volunteers, with market-specific

metropolitan areas, from Atlanta to Denver, San

resources, and through education programs. And it¡¯s never

Francisco to Miami.

an after-thought.

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? Environmentally, we believe using alternative,

In early December, nearly seven months to the day when

sustainable energy and reducing the company¡¯s

we raised that first wall, I was invited back to help dedicate

strain on existing sources ¨C all while operating more

the dream house we built. There were speeches, lots of hand

efficiently for the benefit of the company and our

shaking, and the keys were handed over to the beaming first-

policyholders ¨C is an ongoing opportunity for change.

time homeowners ¨C along with the LifeBridgeSM insurance

So, among other changes, this past year we installed

policy the family had applied for earlier in 2010. LifeBridge

more than 600 solar panels on the roof at our State

is MassMutual¡¯s unique free life insurance program where

Street headquarters.

we pay the premiums to help eligible parents and guardians

? Another opportunity to make positive change contin-

protect their dream of an education for their children. As of

ues to be addressed by providing insurance coverage

Dec. 31, 2010, LifeBridge policies have been given away in

for breast cancer survivors, something we have been

all 50 states and the District of Columbia, totaling more than

doing since 1964. As a company we understand that

half a billion dollars in life insurance.

the marketplace we operate within is made up of

diverse consumers with individual histories and life

concerns, and making it possible for more breast

cancer survivors to qualify for coverage with shorter

The experience was a great opportunity to see what is

possible ¨C and what MassMutual is doing as a company that

truly cares ¨C when you make the decision to put people first.

waiting periods and lower premiums is just one way to

support and bring awareness to a very important issue.

Developing, supporting and providing all these programs

is certainly part of a good business model, but also is the

responsible thing to do when you have the financial means

Roger Crandall

and the desire to help others and bring about change.

Chairman, President and Chief Executive Officer

Developing, supporting and providing all

¡°these

programs is certainly part of a good

business model, but also is the responsible thing

to do when you have the financial means and the

desire to help others and bring about change.

¡±

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Community

MassMutual believes the best way to support

the communities in which we live and work is

by contributing to the education, health and

financial well-being of the people who make

up those communities.

Charitable Giving

MassMutual helps enhance the quality of life across our

communities by supporting efforts within our focus areas

of education and career pathways, economic development

and community vitality. We do this through grant making

MassMutual Career Pathways

and various collaborative efforts. Over the past five years,

MassMutual has a long history of supporting education

MassMutual has provided more than $33 million through its

initiatives with a focus on attracting and retaining diverse

local and national programs.

talent from within our communities. We support our education efforts through our Career Pathways programs, which

Education

raise awareness by providing information to students,

LifeBridgeSM ¨C Free Life Insurance Program

within the financial services industry. The program connects

parents and educators regarding careers at MassMutual and

Our unique LifeBridge Free Life Insurance Program

eligible students to MassMutual scholarships, skills training

provides $50,000 term life insurance policies free-of-charge

and development, mentoring, internships and opportunities

to eligible parents or guardians. We pay the premiums and

for employment.

our agents drive the program in their communities. If an

insured parent or guardian dies during the 10-year term, a

MassMutual Academic Achievement Program

$50,000 benefit funds a trust serviced by our trust company

Eligible high school students in Springfield, Mass., who

to pay their children¡¯s educational expenses (trust services

maintain a B-or-better average for four consecutive marking

are provided by the MassMutual Trust Company, fsb, a

periods are recognized as MassMutual Academic Achievers.

wholly owned stock subsidiary of MassMutual). Our goal is

Achievers become eligible for incentives to help them

to give away $1 billion in coverage. As of Dec. 31, 2010, we

continue their academic success, including free access to

are well over halfway to our goal, having provided more than

the PSAT exam and workshops on college admissions,

$580 million in free life insurance coverage across

financial aid and career exploration. MassMutual Academic

the country.

Achievers have access to our Career Pathways initiatives,

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