MetLife Renewed as Annuity Provider for the Thrift Savings Plan
February 1, 2020 by MetLife
NEW YORK–(BUSINESS WIRE)–Metropolitan Life Insurance Company (“MetLife”), a leading provider of income annuities to defined contribution (DC) plans, announced that it has been selected by the Federal Retirement Thrift Investment Board to continue to serve as the exclusive annuity provider for the Thrift Savings Plan (TSP), covering more than five million federal employees. MetLife has been the sole annuity provider for the TSP since the plan’s inception in 1986.
“MetLife is committed to helping all employees have access to guaranteed income for life. We are pleased to continue our longstanding relationship with the Thrift Savings Plan,” said Michel Khalaf, president and CEO of MetLife, Inc. “Income annuities offer financial certainty in retirement. By providing these solutions to federal employees, the Federal Retirement Thrift Investment Board is creating a solid foundation for its participants’ retirement.”
In addition to being the first and only annuity provider for the TSP, MetLife has been a leader in offering guaranteed income solutions to defined contribution plan sponsors for more than 40 years. MetLife’s expertise and experience has helped institutional plan sponsors create retirement income solutions that best meet their needs and the needs of their employees.
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates, 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, Inc. 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.