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Barclays Chooses MetLife For Retirement Plan Program

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An asset manager has selected an income annuity vendor for a new type of 401(k) plan funding product.

Barclays Global Investors N.A., San Francisco, a unit of Barclays Bank P.L.C., London, will be using a unit of MetLife Inc., New York, to supply income annuities for the company’s SponsorMatch program.

Employers that use the program to match employees’ contributions will get a combination of a target-date asset allocation fund, a classic institutional investment portfolio and an income annuity.