Massachusetts securities regulators have begun aninvestigation into MetLife's failure to pay thousands of workers'pensions.
In a filing made Dec. 15 Friday, MetLife disclosed that itfailed to pay monthly pension benefits to workers within itsretirement business unit. MetLife reported that it is in theprocess of trying to locate pensioners to whom it has failed to paymonthly pensions. MetLife states in its filing those pensioners“have moved jobs, relocated, or otherwise can no longer bereached.”
The disclosure by MetLife does not state the exact number ofretirees who are impacted, what efforts MetLife has made to findcorrect addresses, how long the problem has been going on, or whenand how MetLife learned of the problem.
Continue Reading for Free
Register and gain access to:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
