MetLife Comment Letter to the U.S. Treasury Department and Internal Revenue Service in Response to Proposed Regulations Regarding Longevity Annuity Contracts and Partial Annuitization
Dear Sir or Madam:
On behalf of MetLife, I am writing with respect to the proposed regulations regarding longevity annuity contracts and partial annuitization.
MetLife commends the Treasury Department and the Internal Revenue Service for addressing a critical public policy issue in a creative and technically sound manner. Furthermore, MetLife strongly supports the overall guidance package released by Treasury and IRS on February 2nd, including the two Revenue Rulings. We believe that this guidance package takes an important step in educating both plan sponsors and participants regarding the need to consider tools that can enable individuals to ensure that they have retirement income that lasts for their entire lifetime.
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