MetLife Resources offers several choices and tools to help you meet your retirement needs. You can review the benefits of each retirement savings program and decide which is best for you. Your choices include a variable annuity based program called Gold Track Select, a mutual fund based program called Mutual Fund Select Portfolios with a fixed account under the Gold Track Select Registered Fixed Account option, or a combination of both.
Gold Track Select, a variable annuity
Gold Track Select (GTS) Variable Annuity is a long-term retirement savings vehicle that may suit your individual needs and overall retirement strategy. GTS offers a wide variety of funding options. It features:
- Guaranteed Death Benefit
- Unlimited transfers (some restrictions may apply; please see prospectus)
- Various payout options
- Automatic rebalancing
Find out more about the GTS Variable Annuity.
For performance for the GTS Variable Annuity, based on a mortality and expense charge of 80 bps, click here.
Death Benefit
The following death benefit is available with GTS:*
- Prior to participant attaining age 75: the death benefit is the greater of a) or b), less applicable premium taxes or prior surrenders not previously deducted:
- the value of participant's individual account
- the total purchase payments, less any withdrawals, under the participant's individual account.
- Age 75 and above: the death benefit is equal to the value of the participant's individual account, less any applicable premium tax.
In any event, less any loans outstanding.
Charges & Expenses
The mortality and expense charge is 0.80%. Each funding option charges its own fees and expenses. Withdrawals where permitted are subject to IRS rules. They are subject to ordinary income tax and generally an additional 10% penalty if you are under the age of 59 ½. There is no 10% tax penalty for 457 arrangements. Please see the prospectus for more information. Like most annuity contracts, GTS contains certain surrender charges, exclusions, limitations, termination provisions and terms for keeping them in force. See your representative for complete details.* Death benefit is payable only if the participant should die prior to annuitizing the contract. All product guarantees in the GTS variable annuity are based on the financial strength and claims-paying ability of MetLife Insurance Company of Connecticut, Bloomfield, CT 06002-2910.
Mutual Fund Select Portfolios (MFSP)
With MFSP, you may invest in a Fixed Account through an annuity and in mutual funds with no front-end sales charges. All mutual funds are purchased at net asset value, which means 100% of your contributions are deposited into your mutual fund selections. Other fees and expenses of the mutual funds apply to continued investments and are described in the current prospectuses. MFSP features:
- Mutual funds purchased at NAV
- Various payout options
- No additional plan administrative fees
- Unlimited transfers (some restrictions may apply; please see prospectus for each mutual fund)
Click below to review funds in PDF format.
Morningstar categories/asset classes used with permission of Morningstar Associates, LLC (Morningstar), which is not affiliated with MetLife.
Charges & Expenses
There are no additional plan administrative fees associated with MFSP mutual funds. However, mutual fund companies charge fees and have certain expenses. See the prospectus for each fund for more information. Withdrawals where permitted are subject to IRS rules. They are subject to ordinary income tax and an additional 10% penalty if you are under the age of 591/2. There is no 10% tax penalty for 457 arrangements. Please see the prospectus(es) for more information. Gold Track Select (GTS) Variable Annuity Fixed Account may be subject to a market value adjustment in the event that the GTS contract with UTS is discontinued with the GTS issuer, MetLife Insurance Company of Connecticut. Guarantees for the Fixed Account are subject to the financial strength and claims-paying ability of MetLife Insurance Company of Connecticut.
Mutual funds are sold by prospectus, which is available from your registered representative. Please carefully consider investment objectives, risks, charges, and expenses before investing. For this and other information about any mutual fund investment please obtain a prospectus and read it carefully before you invest. Investment return and principal value will fluctuate with changes in market conditions such that shares may be worth more or less than original cost when redeemed. Diversification cannot eliminate the risk of investment losses, and past mutual fund performance is not a guarantee of future results.
Gold Track Select Variable Annuity is offered by prospectus only, which is available from your registered representative. You should carefully consider the product's features, risks, charges and expenses, and the investment objectives, risks and policies of the underlying portfolios, as well other information about the underlying funding choices. This and other information is available in the prospectus, which you should read carefully before investing. The amounts allocated to the variable investment options of your account balance are subject to market fluctuations so that, when withdrawn or annuitized it may be worth more or less than its original value. Product availability and features may vary by state. The Registered Fixed Account Option (also known as the Gold Track Select Variable Annuity Fixed Account) is offered by prospectus only, which is available from your registered representative. Withdrawals from the Registered Fixed Account are subject to a market value adjustment. The market value adjustment may be lower or higher than your contract value.
Gold Track Select is issued on policy form number L-14666TX, L-14669TX and L-14672TX by MetLife Insurance Company of Connecticut, 1300 Hall Boulevard, Bloomfield, CT 06002-2910. MetLife Investors Distribution Company LLC (member FINRA) is the principal underwriter, 5 Park Plaza, Suite 1900, Irvine, CA 92614.
MetLife and/ or its affiliates receive fees from the fund families or their affiliates for administrative, distribution and recordkeeping services.
Securities, including variable products, are offered through MetLife Securities, Inc., 200 Park Ave., New York, NY 10016 (member FINRA, SIPC).
MetLife Insurance Company of Connecticut, MetLife Investors Distribution Company, MetLife Securities, Inc. and Metropolitan Life Insurance Company are MetLife companies. MetLife Resources is a division of Metropolitan Life Insurance Company, 200 Park Avenue, New York, NY 10166.
Pursuant to IRS Circular 230, MetLife is providing you with the following notification: The information contained in this document is not intended to (and cannot) be used by anyone to avoid IRS penalties. This document supports the promotion and marketing of insurance products. You should seek advice based on your particular circumstances from an independent tax advisor.
