NU Online News Service, Oct. 13, 2004, 5:07 p.m. EDT

The retirement unit at MetLife Inc., New York, will be using a unit of Ibbotson Associates, Chicago, to help sponsors of small and midsize retirement plans choose investment options.[@@]

Ibbotson will share fiduciary responsibility with sponsors of 401(k) plans and other defined contribution plans who agree to pay extra for its services, MetLife says.

Ibbotson will start with a list of more than 100 investment selections that MetLife has put on its plan investment menu, then recommend a list of 5 core asset classes and 10 supplemental asset classes.

Ibbotson will try to ensure that client employers’ investment options are broad enough and diverse enough to allow plan members to build well-balanced portfolios, according to Ibbotson executives.