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MetLife To Offer 5 Packaged 401(k) Portfolios

By Staff Writer

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NU Online News Service, Nov. 1, 2004, 4:22 p.m. EST

One of the biggest U.S. financial services companies is joining the asset allocation movement.[@@]

MetLife Inc., New York, says its investment strategies group will be offering a family of 5 asset allocation portfolios for sponsors of small and midsize retirement plans.

The portfolios give plan members who are uncomfortable with managing their own retirement assets a chance to turn management duties over to professionals.

The portfolios range from a conservative portfolio that will invest only 20% of assets in stock to a very aggressive portfolio that will invest 100% of assets in stock, MetLife says.