These fees and charges mentioned above do not include investment management fees and other expenses of the funding options under the certificate. For more information, please refer to the:
Initial Summary Prospectus (“ISP”) - which is provided to clients at point of sale. The Updating Summary Prospectus (“USP”) which is provided to in-force clients as part of their annual prospectus mailing. Statutory Prospectus (full prospectus) which is available for more detailed inquiries.
The information contained in this website is intended to be informational in nature and should not be considered a recommendation or individualized advice.
1 There is no additional tax deferral advantage to funding a qualified retirement plan with an annuity such as FFA. All accounts under tax qualified plans, including section 403(b) plans and IRAs, are eligible for tax deferral. There should be reasons other than tax deferral, such as the opportunity for lifetime payouts and the other benefits offered under the FFA certificate, for purchasing an annuity certificate under the qualified retirement plan. References throughout this material to tax advantages, such as tax deferral and tax-free transfers, are subject to this consideration. Roth after-tax contributions and accounts are not available in all plans and states. State income tax may apply to some tax qualified plan contributions.
2 May not be available in all states.
3 Ordinary income taxes generally apply to distributions. Withdrawal charges may also apply. Withdrawals prior to age 59½ before separation of service are generally prohibited. Where allowed, distributions of taxable amounts made before 59½, may be subject to a 10% federal income tax penalty. In the case of 457(b) governmental plans, the 10% federal income tax penalty may apply to distributions of amounts rolled over from another type of qualified retirement plan or IRA. Consult a tax advisor to determine whether an exception to these tax rules may apply. Withdrawals reduce the death benefits.
4 While the investment divisions and their comparably named portfolios may have names, investment objectives and management which are identical or similar to publicly available mutual funds, these portfolios are not those mutual funds. The portfolios most likely will not have the same performance experience as any publicly available mutual fund.
5 Distributions to individuals who are not the surviving spouse of the employee (or IRA owner), disabled or chronically ill individuals, individuals who are not more than 10 years younger than the employee (or IRA owner), or child of the employee (or IRA owner) who has not reached the age of majority, are generally required to be distributed by the end of the tenth calendar year following the year of the employee or IRA owner’s death.
6 Purchase payments go into the Fixed Interest Account, where they earn an interest rate guaranteed by MetLife and are protected from investment risk. Then each month, an amount equal to the accrued interest earned in the Fixed Interest Account is transferred into one investment division of individuals’ choice. The guarantees associated with the Fixed Interest Account are subject to the claims-paying ability and financial strength of Metropolitan Life Insurance Company.
This Annuity Contract is a long-term investment designed for retirement purposes.
MetLife and/or its affiliates ("MetLife") receive fees for providing administrative and recordkeeping services. The fees may be deducted directly from the Participant's account, be paid for by the Employer, be paid from the Plan assets and/or paid from the fees deducted from Participant account values allocated to the mutual funds available under the Plan. The fees can vary based upon the mutual funds that are available in the Plan and Plan Participants' asset allocations. Because different mutual funds pay different rates of compensation and rates of mutual fund compensation is subject to change from time to time, compensation received by MetLife varies based on the rates of compensation in effect from time to time. MetLife may receive a finder's fee from certain fund companies, which is additional compensation to MetLife. MetLife may also impose separate transactional fees for certain Participant elected transactions that will be charged directly to Plan Participants unless paid by the Employer or the Plan. MetLife may increase the annual administrative service fee charged to Participants' accounts. MetLife may also pay a portion of the fees it collects to an entity that is designated as a directed trustee or directed custodian of the Plan; or to a third-party administrator, or third-party investment advisor. MetLife may receive payments for administrative services provided under the third-party investment advisory services. MetLife also receives compensation for administrative services on annuities that are issued by unaffiliated insurance companies. MetLife also receives fees with respect to annuities it issues, according to the terms of the annuity contracts and prospectuses, if applicable. If you would like more information on the compensation that MetLife receives, contact your Employer. MetLife may realize a profit from any of the fees described above.
Variable annuity products are offered by prospectus only, which is available from your registered representative, if you have one, or by contacting MetLife's service center at 1-800-543-2520. The amounts allocated to the variable funding options are subject to market fluctuations so that, when withdrawn, they may be worth more or less than their original value. There is no guarantee that any of the variable funding options will meet their stated goals or objectives. Like most annuity certificates, MetLife's certificates contain charges, limitations, exclusions, holding periods, termination provisions and terms for keeping them in force. If you are buying a variable annuity to fund a qualified retirement plan or IRA, you should do so for the variable annuity's features and benefits other than tax deferral. In such cases, tax deferral is not an additional benefit of the variable annuity.
Variable annuities issued by Brighthouse Life Insurance Company, Charlotte, NC 28277, have limitations, exclusions, charges, termination provisions, and terms for keeping them in force. There is no guarantee that any of the variable investment options in this product will meet their stated goals or objectives. The account value is subject to market fluctuations and investment risk so that, when withdrawn, it may be worth more or less than its original value, even when an optional protection benefit rider is elected. All contract and rider guarantees, including optional benefits and annuity payout rates, are subject to the claims-paying ability and financial strength of Brighthouse Life Insurance Company. Please contact your financial professional for complete details.
The purchase of an annuity through an employer retirement plan does not provide additional tax deferral benefits beyond those already provided through the retirement plan. Individuals should consider the annuity for its death benefit, annuity options and other non-tax related benefits. If you are buying a variable annuity to fund a qualified retirement plan or IRA, you should do so for the variable annuity's features and benefits other than tax deferral. In such cases, tax deferral is not an additional benefit of the variable annuity. References throughout this material to tax advantages, such as tax deferral and tax-free transfers, are subject to this consideration.
MetLife is not an ERISA investment fiduciary and is not providing investment advice to the plan, its fiduciaries or its participants, and does not exercise discretionary authority and control over plan assets.
The information contained within this material is provided for your convenience and informational purposes only and should not be construed as recommendation, investment, legal, tax or accounting advice. And should not be interpretated as an individualized advice to a specific individual. Please consult with your financial adviser, attorney, accountant and/or tax adviser as needed. Metropolitan Life Insurance Company disclaims any responsibility to update the views provided herein, does not guarantee that the information supplied is accurate, complete or timely, and does not make any warranties with regard to the results obtained from its use.
Please refer to the Contract for additional features and information.
While the investment divisions and their comparably named portfolios may have names, investment objectives and management which are identical or similar to publicly available mutual funds, these portfolios are not those mutual funds. The portfolios most likely will not have the same performance experience as any publicly available mutual fund.
Financial Freedom Account variable annuity contracts are offered by prospectus only. To obtain a prospectus, please contact MetLife at the service center number reflected on your enrollment materials. Individuals should carefully read the annuity contract prospectus and consider the annuity contract's features, risks, charges and expenses, and the investment objectives, risks and policies of the Portfolios, as well as other information about the underlying funding options. This and other information is available in the prospectus, which you should read carefully before investing. Annuity Contract availability and features may vary by state. All Annuity Contract guarantees, including optional benefits, are subject to the financial strength and claims-paying ability of Metropolitan Life Insurance Company.
The amounts allocated to the Portfolios are subject to market fluctuations so that, when withdrawn, they may be worth more or less than their original value. There is no guarantee that any of the variable Portfolios will meet their stated goals or objectives.
Tax Sheltered Annuity or TSA as referenced is a 403(b) retirement plan offered by public schools and certain 501(c)(3) tax-exempt organizations. (IRC 403(b) Tax-Sheltered Annuity Plans | Internal Revenue Service (irs.gov))
Like most annuity certificates, MetLife's certificates contain charges, limitations, exclusions, holding periods, termination provisions, and terms for keeping them in force.
There is no additional tax deferral advantage to funding a qualified retirement plan with an annuity such as FFA. All accounts under tax qualified plans, including section 403(b) plans and IRAs, are eligible for tax deferral. There should be reasons other than tax deferral, such as the opportunity for lifetime payouts and the other benefits offered under the FFA certificate, for purchasing an annuity certificate under the qualified retirement plan. References throughout this material to tax advantages, such as tax deferral and tax-free transfers, are subject to this consideration. Roth after-tax contributions and accounts are not available in all plans and states. State income tax may apply to some tax qualified plan contributions.
Any discussion of taxes is for general informational purposes only, does not purport to be complete or cover every situation, and should not be construed as legal, tax or accounting advice. Clients should confer with their qualified legal, tax and accounting advisors as appropriate.
Ordinary income taxes generally apply at withdrawal. Variable annuity withdrawals of taxable amounts are subject to ordinary income tax and if made before age 59½, may be subject to a 10% federal income tax penalty. Some broker/dealers and financial professionals may refer to the 10% federal income tax penalty as an “additional tax” or “additional income tax,” or use the terms interchangeably when discussing withdrawals taken prior to age 59½. Distributions of taxable amounts from a non-qualified annuity may also be subject to the 3.8% Unearned Income Medicare Contribution Tax on Net Investment Income if individuals’ modified adjusted gross income exceeds the applicable threshold amount. Withdrawals will reduce the living and death benefits and account value. Withdrawals may be subject to withdrawal charges.
Access to the website, mobile app and VRS may be limited or unavailable during periods of peak demand, systems upgrades/maintenance or other reasons.
Guarantees apply to certain insurance and annuity products (not securities, variable or investment advisory products) including optional benefits, and are subject to product terms, exclusions and limitations and the claims-paying ability and financial strength of Metropolitan Life Insurance Company.
Financial Freedom Account variable annuity is issued by Metropolitan Life Insurance Company, New York, NY 10166, and distributed through MetLife Investors Distribution Company (member FINRA). Both are MetLife companies. Policy Form number G4333.7. MetLife Resources is a division of Metropolitan Life Insurance Company (MLIC), New York, NY 10166.
MetLife refers to Metropolitan Life Insurance Company.
Distributions to individuals who are not the surviving spouse of the employee (or IRA owner), disabled or chronically ill individuals, individuals who are not more than 10 years younger than the employee (or IRA owner), or child of the employee (or IRA owner) who has not reached the age of majority, are generally required to be distributed by the end of the tenth calendar year following the year of the employee or IRA owner’s death.
Purchase payments go into the Fixed Interest Account, where they earn an interest rate guaranteed by MetLife and are protected from investment risk. Then each month, an amount equal to the accrued interest earned in the Fixed Interest Account is transferred into one investment division of individuals’ choice. The guarantees associated with the Fixed Interest Account are subject to the claims-paying ability and financial strength of Metropolitan Life Insurance Company.
The investment objectives and policies of the underlying portfolios may be similar to those of other portfolios managed by the same investment adviser. No representation is made, and there can be no assurance given, that the portfolios’ investment results will be comparable to the investment results of any other portfolio, including other portfolios with the same investment adviser or manager. The portfolios’ investment results may be expected to differ, and may be higher or lower than the investment results of such other portfolios. Differences in portfolio size, investments held, contract and portfolio expenses, and other factors are all expected to contribute to differences in performance.
Asset allocation portfolios are “fund-of-funds” portfolios. Because of this two-tier structure, each asset allocation portfolio bears its own investment management fee and expenses, which includes the cost of the asset allocation services it provides, as well as its pro rata share of the management fee and expenses of each underlying portfolio. Without these asset allocation services, the contract owner’s expenses wouldbe lower. See prospectus for details. The asset allocation portfolios do not ensure a profit and may not be appropriate for all investors, particularly those who are interested in directing their own investments. Inclusion of an investment option in an asset allocation portfolio does not indicate that a particular investment option is superior to any investment option not included in a portfolio.
Before individuals make any decision as to which type of employee contribution is best, individuals’ traditional deferrals or designated Roth contributions, review individuals' strategy with an independent tax advisor.
