Alight and MetLife Collaborate on Retirement Income Offerings
MetLife and Alight announced a strategic collaboration to offer MetLife's institutional income annuities on Alight's benefits platform, serving nearly 12 million defined contribution plan participants.
Through this partnership, plan sponsors will have access to MetLife's Guaranteed Income fixed-immediate annuity and Retirement Income Insurance QLIA, a fixed-deferred-income annuity, within their DC plans.
The integration enables participants to purchase these solutions and convert a portion of their savings into monthly income. Goldman Sachs Asset Management L.P. will serve as sub-adviser to Alight.
No direct quotes available in the text.
Author's summary: Alight and MetLife team up to offer retirement income solutions.
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