MetLife Statement on Inclusion of SECURE Act Provisions in Appropriations Package

Dec 16, 2019 05:00 pm
NEW YORK -- 

MetLife, Inc. (NYSE: MET) issued the following statement today from Graham Cox, executive vice president and head of MetLife’s Retirement & Income Solutions group, on the inclusion of the provisions from the Setting Every Community Up for Retirement Enhancement (SECURE) Act in the appropriations package:

“We commend Congress on the inclusion of the Setting Every Community Up for Retirement Enhancement (SECURE) Act’s provisions in its appropriations package. This legislation removes the long-standing regulatory barriers that prevent companies from including lifetime-income options in their employees’ retirement plans.

MetLife is a strong supporter of these provisions and committed to ensuring that employees enjoy a secure retirement by having access to guaranteed income for life. Through the requirement that lifetime income estimates be included on annual defined contribution (DC) plan benefit statements, employees will gain a better understanding of how their savings translate into retirement income. The safe harbor provision, provided under the SECURE Act, increases workers’ access to solutions that will protect against the risk of outliving their savings. Both of these provisions provide valuable tools that will strengthen retirement security for millions of Americans.”

About MetLife

MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates ("MetLife"), is one of the world's leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 markets globally and holds leading positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.

Judi Mahaney
212-578-7977
jmahaney@metlife.com