This script calls Intranet and Internet realted Java script file for validations. 2006 Press Releases
   
 
METLIFE LAUNCHES ROTH OFFERING THROUGH 403(B) PLANS WITH EDUCATIONAL SUPPORT THROUGH METLIFE RESOURCES
 
 

NEW YORK, June 6, 2006 – MetLife announced today the availability of a Roth offering through 403(b) plans as an option for customers to diversify tax risk and potentially enhance after-tax savings in retirement. The option is available through MetLife Resources, the company’s distribution arm for its 403(b) business.

"We are pleased to be able to add the Roth offering through MetLife’s 403(b) business, since it can be a valuable tool for people saving for retirement," said Greg Illson, vice president, product development, MetLife. "Coupled with the offering is educational support through MetLife Resources about Roth and other offerings to help individuals understand their options."

Roth 403(b) contributions are made on an after-tax basis, and an account value increase is tax-free. Roth contributions and earnings are not taxed when they are withdrawn, provided that the withdrawal is after the participant attains age 59½ or upon death or disability, and it is at least five years after the participant’s first Roth 403(b) contribution. The Roth 403(b) program must be approved by the employer as part of its 403(b) arrangement before employees may irrevocably designate contributions to be made to the Roth account.

Thomas G. Hogan, vice president, MetLife Resources, said, "Providing simple and flexible financial options is paramount to what we do to help individuals at MetLife everyday. At the same time, it is also important for us as a partner to our employer and plan sponsor customers to help them understand and comply with their systems and tracking responsibilities once the Roth 403(b) option is made available."

MetLife Resources, a division of MetLife, provides retirement plans and other financial services to healthcare, education, and not-for-profit organizations. MetLife manages more than $30 billion in retirement plan assets, making it the fifth largest company serving the 403(b) market and second largest in the K-12 marketplace.

MetLife, a subsidiary of MetLife, Inc. (NYSE: MET) is a leading provider of insurance and other financial services to millions of individual and institutional customers throughout the United States. Through its subsidiaries and affiliates, MetLife, Inc. offers life insurance, annuities, automobile and homeowner’s insurance and retail banking services to individuals, as well as group insurance, reinsurance and retirement and savings products and services to corporations and other institutions. Outside the U.S., the MetLife companies have direct insurance operations in Asia Pacific, Latin America and Europe. For more information, please visit www.metlife.com.

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The information in this press release is not intended to (and cannot) be used by anyone to avoid IRS penalties. This press release supports the promotion and marketing of this Roth option. Customers should seek advice based on their particular circumstances from an independent tax advisor. The Roth 403(b) offering is available in most states. In some states, the MetLife offering is pending state approval.

Securities products are offered by MetLife Securities, Inc., 200 Park Avenue, New York, NY 10166.

 

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