Empower 3/9/2022 - Laserfiche WebLink

Tax benefits of certain separate investment accounts MassMutual is entitled to certain tax benefits (which may include the foreign tax credit) related to the investment of certain corporate assets, including the assets of its Separate Investment Accounts (SIAs), because MassMutual is the owner of the assets from which the tax benefits are derived. As a consequence of a change in the methodology of calculating the SIA's unit value, the value of these tax benefits are not passed back to the SIAs. For the most recent tax year for which information is available, the foreign tax credits claimed for SIAs with foreign source income ranged from an annualized high of $31 for each $10,000 invested to a low of less than $7 for each $10,000 invested. Upon request, MassMutual will provide a list of the SIAs with respect to which it received a tax benefit, the value of the tax benefits received with respect to those SIAs and the assets invested in those SIAs. With this information, you can estimate the "tax benefit attributable to Plan investment in an SIA" for a calendar year using the following formula and the dollar value of plan assets invested in the SIAs from which tax benefits are claimed (which is available on the plan sponsor website): Plan assets invested in SIA as of year-end/Total Invested Assets in SIA as of year-end =Tax benefit attributable to Plan investment.