MetLife Helps Non-ERISA 403(b)s Pick Funds

July 31, 2008 ( - MetLife Resources has enhanced its suite of solutions for 403(b) plans not subject to the Employee Retirement Income Security Act (ERISA) with the launch of ExpertSelect , through which MetLife makes available the objective investment expertise of Morningstar Associates, LLC.

According to a MetLife press release, ExpertSelect offers a pre-selected mutual fund lineup designed to help employers with the selection of products for their 403(b) plans. The product was created specifically for non-ERISA plans and leverages Morningstar Associates’ quantitative and qualitative evaluation to provide a list of screened, high-quality mutual funds representing a wide range of asset classes.

403(b) plan participants can choose from the ExpertSelect list or choose a fixed account option to diversify their 403(b) plan portfolio.

“Offering ExpertSelect along with our variable annuity product – MetLife Financial Freedom Select   ( MFFS ) variable annuity – allows employees to choose which product better suits their needs. Those wanting to invest in mutual funds to save for retirement can choose ExpertSelect and those interested in a product that can generate guaranteed income during retirement can choose MFFS,” said Thomas G. Hogan, Jr., senior vice president and head of MetLife Resources, in the press release.