Products October 31, 2005

MetLife Launches Retirement Education Center

October 31, 2005 (PLANSPONSOR.com) - MetLife has launched a retirement income education center on its employee Web portal, available to MetLife's group customers.
Reported by

The company said in its announcement that Lifelong Income from MetLife (SM) is available on the MyBenefits portal, which offers employees’ personalized benefit information.

Lifelong Income from MetLife (SM) includes the following:

For more stories like this, sign up for the PLANSPONSOR NEWSDash daily newsletter.

  • Information to help identify an employee’s life stage: At Retirement, Near Retirement, or Far From Retirement
  • General education about lifelong income, including hypothetical case studies of how others – at each life stage – have met their retirement income needs
  • A planning guide to help employees create lifelong income, including a checklist of materials employees need to calculate their retirement income needs and help in understanding the risks employees may face in retirement – longevity risk, market risk, and inflation risk
  • Calculators which allow the employee to determine how much income will be needed, if the savings will last, the value of an employee’s assets, the employee’s life expectancy, and his/her estimated social security benefit
  • Education on income annuities to help employees understand the fundamentals of creating lifelong income

More information can be found at www.metlife.com .

Compliance October 28, 2005

IRS Releases 2006 HSA Limits

October 28, 2005 (PLANSPONSOR.com) - The Internal Revenue Service released the 2006 inflation adjusted indexed numbers for tax benefits.
Reported by

Included are the new Health Savings Account (HSA) limits for contributions, and deductibles and out-of-pocket numbers for H.S.A. High Deductible Health Plans (HDHP).

The HSA maximum contribution for individuals increases to $2,700 from $2,650 in 2005, while the maximum contribution for families increases to $5,450 from $5,250.   The catch up contribution for those aged 55 and over increases to $700 from $600 in 2005.

Get more!  Sign up for PLANSPONSOR newsletters.

The maximum out-of-pocket for HSA HDHPs will be $5,250 for individuals and $10,500 for families in 2006.   The minimum deductible for HSA HDHPs will increase to $1,050 for individuals and $2,100 for families.

IR-2005-70 can be viewed  here .

«