the year. In 2001, MassMutual Financial Group's assets under management reached $234 billion. MassMutual's profit in 2005 rose from $753 million to $810 million. Under CEO and President Roger Crandall, MassMutual whole life insurance sales rose 28% during the first six months of 2010. In 2012, MassMutual agreed to purchase The Hartford's Retirement Plans business, ultimately acquiring it January 1, 2013. This acquisition built on MassMutual's record retirement business growth, added complementary markets and distribution capabilities, and nearly doubled the number of retirement plan participants MassMutual served. Haven Life Insurance Agency, LLC was created as a subsidiary of MassMutual in 2015 with offices in New York. Haven Life exclusively sells term life policies. In July 2020, Canadian-owned, Denver-based Empower Retirement announced it would be purchasing MassMutual's retirement plan business for $4.4 billion plus a contingency payout. In April 2022, Massachusetts-based Fidelity Investments announced it would be the record keeping service provider of MassMutual's corporate 401K plan. A total of 11,593 employees make up the company's global workforce. As of 2016, MassMutual Life Insurance holds Fortune 500's 76th place – up from 2015's 94th. As of 2022, MassMutual Life Insurance holds the 100th place on the Fortune 500 list. Involvement in the Madoff investment scandal MassMutual owns Tremont Capital Management, a feeder fund that fed investors' money to Bernard Madoff's Ponzi scheme and ultimately lost $3.3 billion in the resulting scandal. Irving Picard, the receiver who is recovering money from the Ponzi scheme, extracted a settlement from Tremont worth over one billion dollars. References External links Financial services companies established in 1851 Insurance companies of the United States Insurance companies based in Massachusetts Life insurance companies of the United States Mutual insurance companies of the United States Companies based in Springfield, Massachusetts American companies established in 1851 1851 establishments in Massachusetts Madoff investment scandal