Lifetime Income Solutions

Explore our solutions to add Lifetime Income to your defined contribution retirement plan.

Choice of Solutions for Lifetime Income in Retirement

Empower your employees to confidently retire knowing they will have a guaranteed lifetime income solution designed to complete your defined contribution retirement plan. Our income annuities provide a fixed paycheck for life — no matter how long that is.^1,2

Explore Our Solutions

Income Now

MetLife Guaranteed Income Program (MGIP)

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Income Later

MetLife Retirement Income Insurance^® QLAC (Qualifying Longevity Annuity Contract)²

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A fixed immediate income annuity for plan participants who are planning to retire and would like benefit payments to begin within 12 months.

A series of consistent, predictable income payments that begin within a year of purchase and are guaranteed for as long as a participant lives.¹
The option to add inflation protection and/or a cash refund, for additional protection of a participant's money and loved ones.
The opportunity to offer an annuity cancellation option that provides added flexibility for participants to end their annuity contract within the first three years of starting the income benefit.³

A fixed deferred income annuity for employees who are planning to retire and would like benefits payments to begin at a later age (typically 80-85).

A longer deferral period which translates into higher income payments once they begin.
A reduced required minimum distribution which means less reportable income.
Protection against longevity risk while remaining assets in the DC plan can continue to grow over time.

Benefits of Income Annuities

Guaranteed

Guaranteed income solutions are tools that help employees confidently retire.¹

Flexible

Partial distributions allow remaining assets to stay in the plan, providing liquidity to complement guaranteed income needs.¹

Simple

Designed as a voluntary offering at no cost to you, with the benefit of institutional pricing for participants.

Supportive

Employee educational program and access to superior customer service.

Expertise

Over 50 years of experience in the institutional income annuity industry.

Trustworthy

Financial ratings are among the highest in the industry.⁴

¹ All guarantees are subject to the financial strength and claims-paying ability of Metropolitan Life Insurance Company or Metropolitan Tower Life Insurance Company, as applicable.

² MetLife Retirement Income Insurance^® QLAC has been approved in the District of Columbia and in all states, except Oregon and the territory of Puerto Rico.

³ Election of the Annuity Cancellation Option gives the primary annuitant the right to cancel the annuity at any time during the first three years following the annuity commencement date to receive a refund of the original premium. If this option is exercised, the primary annuitant will receive a payment equal to the original premium amount, minus any annuity payments received. Once exercised, the annuity certificate will terminate, and no further annuity payments or benefits will be provided. If the Annuity Cancellation Option is elected for a joint and survivor annuity and the survivor annuitant was the legal spouse of the primary annuitant at the time of the purchase of the annuity, spousal consent from the survivor annuitant will be required to exercise the option. If the primary annuitant dies prior to exercising the option, the option terminates.

⁴ For current ratings information and a more complete analysis of the financial strength of Metropolitan Life Insurance Company and Metropolitan Tower Life Insurance Company, please go to www.metlife.com and click on “About MetLife,” “Ratings.”

Group annuity contracts can be issued by Metropolitan Life Insurance Company (MLIC), 200 Park Ave. NY, NY 10166 or Metropolitan Tower Life Insurance Company (MTL), 5601 South 59th St., Lincoln, NE 68516, two wholly owned subsidiaries of MetLife, Inc. (“MetLife”). Like most group annuity contracts, MetLife group annuities contain certain limitations, exclusions and terms for keeping them in force. MTL and MLIC annuity products may not be available in all states. Ask a MetLife representative for costs and complete details.

Lifetime Income Solutions

Choice of Solutions for Lifetime Income in Retirement