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 that focus on diversification. It features: - Guaranteed Death Benefit
- Various payout options
- Unlimited transfers (some restrictions may apply; please see prospectus)
- Automatic rebalancing
Some of the Funding OptionsTo view MetLife Historical Investment Performance, please visit The University of Texas Retirement Employee Benefits website. Under All Funds, simply enter MetLife as the Provider. Death BenefitThe following death benefit is available with GTS:* Prior to participant attaining age 75: the death benefit is the greater of a) or b) (a) the cash value of participant's individual account (b) the total purchase payments, for each option, minus any applicable premium tax, outstanding loan amounts and prior surrenders as of the date due proof of death is received.
Age 75 and above: the death benefit is equal to the cash value of the participant's individual account, less any applicable premium tax and loans outstanding.
Charges & ExpensesThe mortality and expense charge is 0.60%. Each funding option charges its own fees and expenses. The investor will pay the fees and the expenses for any of the funding options selected. 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 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. | C | Invests in stocks of small capitalization or mid capitalization companies. Such stocks may fluctuate in value more than stocks of large capitalization companies, and may perform poorly due to the issuers' limited product lines, markets, financial resources or management experience. | | D | This portfolio is non-diversified, which means that it invests in a limited number of stocks and is therefore subject to greater overall risk than diversified portfolios. Poor performance of a single security will generally have a more adverse impact on the return of a non-diversified portfolio than on a diversified portfolio, which would normally invest across a greater number of issuers. | | F | Invests in securities of foreign companies and governments, which involves risks not typically associated with U.S. investments, including changes in currency exchange rates; economic, political and social conditions in foreign countries; and governmental regulations and accounting standards different from those in the U.S. | | H | Invests in high yield or "junk" bonds, which may be issued by companies that pose a greater risk of not paying the interest, dividends or principal their bonds have promised to pay. Such bonds may be especially subject to adverse changes in interest rates or other general market conditions, or to downturns in the issuers' companies or industries. | | I | Morgan Stanley sponsors the MSCI EAFE Index, Barclays Capital sponsors the Barclays Capital U.S. Aggregate Bond Index, Standard and Poor’s sponsors the Standard 7 Poor’s 500 Composite Stock Price Index and the Standard & Poor’s MidCap 400 Composite Stock Index and Frank Russell Company sponsors the Russell 2000® Index (together referred to as “index sponsors”). The index sponsors have no responsibility for and do not participate in the management of Portfolio assets or sale of Portfolio shares. Each index and its associated trademarks and service marks are the exclusive property of the respective index sponsors. The Metropolitan Series Fund, Inc. Statement of Additional Information contains a more detailed description of the limited relationship the index sponsors have with Metropolitan Life Insurance Company and the Fund. | | Y | These funding choices are Fidelity Variable Insurance Products funds that are designed as investment vehicles for variable annuity and variable life insurance contracts of insurance companies. MetLife receives a fee from Fidelity for providing certain recordkeeping and administrative services. You are not responsible for these fees. | | | An investment in the BlackRock Money Market Portfolio is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Portfolio seeks to preserve the value of your investment at $100 per share, it is possible to lose money by investing in the Portfolio. |
* 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. 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. All product guarantees are based on the financial strength and claims paying ability of MetLife Insurance Company of Connecticut. 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. If you are buying an annuity to fund a qualified retirement plan or IRA, you should do so for the annuity’s features and benefits other than tax deferral. In such cases, tax deferral is not an additional benefit of the annuity. References throughout this material to tax advantages, such as tax deferral and tax-free transfers, are subject to this consideration. Securities, including variable products, are offered through MetLife Securities, Inc., 1095 Avenue of the Americas., New York, NY 10036 (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. MetLife and/or its family of companies receive fees from the fund families and/or their affiliates for administrative, distribution and recordkeeping services. Circular 230 Disclaimer - The information contained in this website (including attachments) concerning Federal tax issues is not intended to (and cannot) be used by anyone to avoid IRS penalties. This website is intended to support the sale of MetLife insurance, annuity and other financial products and services. You should seek advice based on your particular circumstances from an independent tax advisor. MetLife, MetLife Insurance Company of Connecticut, its agents, and representatives may not give legal or tax advice. Any discussion of taxes in this website or related to this website is for general information purposes only and does not purport to be complete or to cover every situation. Tax law is subject to interpretation and legislative change. Tax results and the appropriateness of any product for any specific taxpayer may vary depending on the facts and circumstances. You should consult with and rely on your own independent legal and tax advisers regarding your particular set of facts and circumstances. |
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