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.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
NOT FOR REPRINT

© 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.