MetLife and Alight have entered into a strategic collaboration to integrate MetLife’s institutional income annuities onto Alight’s Worklife platform, which serves nearly 12 million defined‑contribution plan participants.
The partnership gives plan sponsors access to MetLife’s Guaranteed Income (MGI) fixed immediate annuity and Retirement Income Insurance (RII) QLAC, allowing participants to convert a portion of their savings into predictable monthly income. The MGI product delivers a fixed monthly payment starting immediately, while the RII QLAC provides a deferred income stream that can begin as early as age 80, helping to reduce required minimum distributions.
The collaboration is enabled by the annuity‑friendly provisions of the SECURE Act and SECURE 2.0, including the fiduciary safe harbor and the increase in the QLAC limit to $1 million. It complements Alight’s newly announced defined‑contribution wealth solution with Goldman Sachs Asset Management, positioning both companies to meet the growing demand for guaranteed retirement income.
Market research indicates that 93 % of plan sponsors recognize the need for guaranteed income solutions, and 69 % of workers believe guaranteed sources of retirement income would help them achieve a comfortable retirement. Alight’s platform, which served 11.7 million participants in 2023, is expected to simplify the process for plan sponsors and participants to access these annuity options.
The partnership represents a major operational milestone for both MetLife and Alight, expanding lifetime income options for a large base of defined‑contribution participants and reinforcing their commitment to comprehensive retirement solutions.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.