Migliaccio & Rathod LLP is investigating whether MetLife pension risk transfer transactions adequately protect retirees and pension participants whose benefits are moved from employer-sponsored pension plans to insurer-backed group annuities.
Reported Issues
Pension participants report concerns about:
- Their pension benefits being shifted from an employer plan to MetLife.
- Losing PBGC protection after the transfer.
- Not being clearly told about state guaranty-association limits.
- Reliance on insurer solvency rather than employer pension-plan protections.
- Concern that plan fiduciaries may not have fully evaluated competing annuity providers.
MetLife describes itself as a leader in pension risk transfer and has publicly described large pension risk transfer transactions, including a 2025 agreement to assume approximately $1.8 billion in pension liabilities for about 27,000 Kodak retirees and beneficiaries.
Why Individuals Should Be Concerned
Potential claims include:
- ERISA fiduciary breach
- Failure to evaluate insurer safety
- Inadequate notice
- Misrepresentations in group annuity selection
- Loss of PBGC protection
- Economic loss from reduced pension security
Signs You May Be Affected
- Your pension benefits were transferred to MetLife.
- You received a notice about a pension risk transfer, annuity buyout, or group annuity.
- You were not told what protections changed after the transfer.
- You were not informed of guaranty-association limits.
- You believe the annuity provider was selected without adequate fiduciary review.
If you have encountered these issues, we would like to hear from you. Please complete the contact form on this page, send us an email at [email protected], or give us a call at (202) 470-3520.