Does MetLife offer 401k?
MetLife’s 401(k) Plan offers you one of the best ways to help you reach your financial goals in retirement.
Who does MetLife use for 401k?
MetLife 401K Plan MetLife offers a 401(k) Savings Plan with Company match as part of our Core Employee Benefits Program.
Is MetLife a retirement plan?
The MetLife Retirement Plan (formerly known as the Metropolitan Life Retirement Plan for United States Employees) (“Retirement Plan” or “Plan”) provides a solid foundation to help you reach your financial goals for retirement.
What is a 401k plan in simple terms?
What is a 401k? A 401k is an employer-sponsored retirement account. It allows an employee to dedicate a percentage of their pre-tax salary to a retirement account. These funds are invested in a range of vehicles like stocks, bonds, mutual funds, and cash.
Is 401k a money purchase plan?
Money purchase plans are employer-sponsored, defined-contribution retirement plans, like 401(k)s and 403(b)s. As with other workplace retirement plans, contributions to money purchase plans grow tax-deferred, and employer contributions may be tax-deductible for the employer.
Does MetLife offer Roth IRA?
Retirement | Education Putting money aside now to help provide an income at retirement is important. Your retirement savings plan at work offers a Roth 403(b), in addition to a traditional 403(b).
How does a MetLife annuity work?
You will receive income for life, guaranteed by the insurance company. If you die before the guarantee period is over, your beneficiaries will receive the remaining number of payments. This type of annuity option is often called a “life annuity with period certain.” Lifetime Income for Two.
Does MetLife have a defined benefit plan?
MetLife is a market leader in the pension risk transfer industry. Metropolitan Life manages pension payments for more than 600,000 annuitants; the company issued its first group annuity contract in 1921 to fund a defined benefit plan.
What is the difference between a money purchase plan and a 401k?
The money purchase pension plan is an annual employer contribution to its employees’ retirement savings. Employees don’t contribute to their pension plan, but they may have 401(k) plans as well. This is a “qualified” retirement savings plan, meaning the employee does not pay taxes on the money until it is withdrawn.
How to find out about your MetLife retirement plan?
See the Retirement Plan Summary Plan Description (SPD), or call the Retirement Benefits Service Center at 1-800-677-5678, for more information. Your 401(k) Plan Contributions 3% 4% 5% or more 3% 3.5% 4% 401(k) Plan Company Matching Contributions 3
When did MetLife start the cash balance plan?
US employeeshired (or rehired) in 2002 or later, or those who elected the PRA in 2002 during “Pension Choice,” earn Retirement Plan benefits under the PRA formula, which is a cash balance plan.*
What is the Social Security benefit credit for MetLife?
Each month after becoming eligible, MetLife credits your PRA with a “benefit credit” equal to: – 5% of your eligible pay up to the Social Security wage base, – 10% of your eligible pay above the Social Security wage base. The wage base is a number set by the Social Security Administration and indexed for inflation.
How are MetLife employees different from other employees?
MetLife employees are a diverse group of individuals—different ages, different financial circumstances, different aspirations and different ways of thinking about and taking action to prepare for retirement.