Fidelity
Fidelity Product Reviews |
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Product Review of Fidelity Personal Retirement Annuity
Fidelity has addressed one of the key flaws that plagues most variable annuity... Product Review of MetLife Target Maturity Annuity
You can't just focus on the 4 year version of the Target Maturity annuities.... Product Review of MetLife Target Maturity Annuity
A fixed deferred annuity that offers 1 percent guaranteed for 4 years?
Pretty... |
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Website | http://www.fidelity.com |
Type | Insurance Company |
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Ownership | |
Country | USA |
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Address | , |
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Information & Articles about Fidelity
Fidelity Investments recently announced that it reached $1 billion in sales with its MetLife Growth and Guaranteed Income ("MGGI") variable annuity product offering. The MetLife Growth and Guaranteed Income product has only been available since November 2009. The MGGI product is manufactured by MetLife and distributed exclusively by Fidelity. The MGGI product is a deferred variable annuity with a living benefit rider. The living benefit rider is a guaranteed lifetime withdrawal benefit (GLWB) that offers between 4 and 6 percent. According to MetLife EVP Robert E. Stollman:
Source: Business Wire |
There is a good article in CFO Magazine that discusses in-plan annuities--in other words, annuities within defined contribution pension plans such as 401k. Per usual, lots of curiousity and interest among employees (at least in knowing more and understanding the options that might be available to them). On the other hand, employers / plan sponsors are hesitant to say the least--primarily due to the fiduciary liability issue. For example, out of the 19,000 defined contribution plans administered by Fidelity, only 1 offers an annuity option and only 10 percent of that plan's participants take advantage of that option.
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The first thing you should do is check with your previous employer--likely the human resources department--to hear about the plan policy directly from them. That said, the contributions you have made to the 401k plan and any employer contributions that are vested are your property. Generally, there are several options available to employees when they leave an employer:
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