{"id":430799,"date":"2021-02-08T11:03:33","date_gmt":"2021-02-08T16:03:33","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=430799"},"modified":"2021-02-08T11:03:33","modified_gmt":"2021-02-08T16:03:33","slug":"metlife-to-provide-annuity-benefits-to-nearly-12000-dow-retirees-and-beneficiaries","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/metlife-to-provide-annuity-benefits-to-nearly-12000-dow-retirees-and-beneficiaries\/","title":{"rendered":"MetLife to Provide Annuity Benefits to Nearly 12,000 Dow Retirees and Beneficiaries"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>MetLife to Provide Annuity Benefits to Nearly 12,000 Dow Retirees and Beneficiaries<\/b><\/p>\n<p class=\"bwalignc\"><b>~ Pension risk transfer agreement covers approximately $700 million in pension obligations ~<\/b><\/p>\n<p>NEW YORK&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nMetLife, Inc. announced today that its subsidiary, Metropolitan Tower Life Insurance Company, has entered into an agreement with Dow (NYSE: DOW) to provide annuity benefits to approximately 12,000 retirees and beneficiaries in Dow\u2019s defined benefit (DB) pension plans, representing pension obligations of approximately $700 million.\n<\/p>\n<p>\n\u201cWe are pleased to expand our relationship with Dow, which has once again selected MetLife as a trusted partner to provide guaranteed lifetime income to their retirees, as well as benefits to the retirees&#8217; spouses and beneficiaries,\u201d says Melissa Moore, senior vice president and head of Annuities at MetLife. \u201cMetLife and Dow share common values and are both focused on ensuring secure futures for these individuals.\u201d\n<\/p>\n<p>\nDow purchased a group annuity contract from Metropolitan Tower Life Insurance Company in November 2020. The transaction will not change the amount of the monthly pension benefit received by the corporation\u2019s retirees and beneficiaries. Metropolitan Tower Life Insurance Company, rather than Dow, will be responsible for making these monthly payments. No action is needed by retirees or beneficiaries. Dow and MetLife will provide details to retired participants and beneficiaries whose ongoing payments will be made by Metropolitan Tower Life Insurance Company.\n<\/p>\n<p>\n\u201cOur retirees are an integral part of the Dow community so we wanted to find a partner we trusted to ensure that they received their earned benefits,\u201d says Bryan Jendretzke, Global Benefits Director at Dow. \u201cIn MetLife, we found that trusted partner.\u201d\n<\/p>\n<p><b>About MetLife<\/b><\/p>\n<p>\nMetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (\u201cMetLife\u201d), is one of the world\u2019s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world. Founded in 1868, MetLife has operations in more than 40 markets globally and holds leading positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.metlife.com&amp;esheet=52375464&amp;newsitemid=20210208005572&amp;lan=en-US&amp;anchor=www.metlife.com&amp;index=1&amp;md5=882f05885bac4a262612f48ef52cff44\">www.metlife.com<\/a>.\n<\/p>\n<p><b>About Dow<\/b><\/p>\n<p>\nDow (NYSE: DOW) combines global breadth, asset integration and scale, focused innovation and leading business positions to achieve profitable growth. The Company\u2019s ambition is to become the most innovative, customer centric, inclusive and sustainable materials science company. Dow\u2019s portfolio of plastics, industrial intermediates, coatings and silicones businesses delivers a broad range of differentiated science-based products and solutions for its customers in high-growth market segments, such as packaging, infrastructure and consumer care. Dow operates 109 manufacturing sites in 31 countries and employs approximately 36,500 people. Dow delivered sales of approximately $43 billion in 2019. References to Dow or the Company mean Dow Inc. and its subsidiaries. For more information, please visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.dow.com&amp;esheet=52375464&amp;newsitemid=20210208005572&amp;lan=en-US&amp;anchor=www.dow.com&amp;index=2&amp;md5=e7007d1e7d36312162538904df2c359d\">www.dow.com<\/a> or follow @DowNewsroom on Twitter.\n<\/p>\n<p><b>Forward-Looking Statement<\/b><\/p>\n<p>\nThe forward-looking statements in this news release, such as \u201cfuture,\u201d and \u201cwill,\u201d are based on assumptions and expectations that involve risks and uncertainties, including the \u201cRisk Factors\u201d MetLife, Inc. describes in its U.S. Securities and Exchange Commission filings. MetLife\u2019s future results could differ, and it has no obligation to correct or update any of these statements.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210208005572r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210208005572\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210208005572\/en\/<\/a><\/span><\/p>\n<p>\nMetLife Contact:<br \/>\n<br \/>Judi Mahaney<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:jmahaney@metlife.com\">jmahaney@metlife.com<br \/>\n<\/a><br \/>212-578-7977\n<\/p>\n<p><b>KEYWORDS:<\/b> United States North America New York<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Finance Consulting Professional Services Insurance Human Resources<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210208005572\/en\/550710\/3\/ML_LOGO_RGB_FINAL_TEMP_100316.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>MetLife to Provide Annuity Benefits to Nearly 12,000 Dow Retirees and Beneficiaries ~ Pension risk transfer agreement covers approximately $700 million in pension obligations ~ NEW YORK&#8211;(BUSINESS WIRE)&#8211; MetLife, Inc. announced today that its subsidiary, Metropolitan Tower Life Insurance Company, has entered into an agreement with Dow (NYSE: DOW) to provide annuity benefits to approximately 12,000 retirees and beneficiaries in Dow\u2019s defined benefit (DB) pension plans, representing pension obligations of approximately $700 million. \u201cWe are pleased to expand our relationship with Dow, which has once again selected MetLife as a trusted partner to provide guaranteed lifetime income to their retirees, as well as benefits to the retirees&#8217; spouses and beneficiaries,\u201d says Melissa Moore, senior vice president and head of Annuities &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/metlife-to-provide-annuity-benefits-to-nearly-12000-dow-retirees-and-beneficiaries\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;MetLife to Provide Annuity Benefits to Nearly 12,000 Dow Retirees and Beneficiaries&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-430799","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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