MetLife Offers Morningstar Resource to Non-ERISA 403(b)s

MetLife Resources has enhanced its suite of solutions for 403(b) plans not subject to the Employee Retirement Income Security Act (ERISA) with the launch of ExpertSelect.

ExpertSelect makes available the objective investment expertise of Morningstar Associates, LLC and offers a pre-selected mutual fund lineup designed to help employers with the selection of products for their 403(b) plans, according to a MetLife press release. The product was created specifically for non-ERISA plans and leverages Morningstar Associates’ quantitative and qualitative evaluation to provide a list of screened, high-quality mutual funds representing a wide range of asset classes.

403(b) plan participants can choose from the ExpertSelect list or choose a fixed account option to diversify their 403(b) plan portfolio.

“Offering ExpertSelect along with our variable annuity product – MetLife Financial Freedom Select (MFFS) variable annuity – allows employees to choose which product better suits their needs. Those wanting to invest in mutual funds to save for retirement can choose ExpertSelect and those interested in a product that can generate guaranteed income during retirement can choose MFFS,” said Thomas G. Hogan, Jr., senior vice president and head of MetLife Resources, in the press release.