BGI selected MetLife as the income annuity provider to retirement plans investing in BGI’s SponsorMatch program, said BGI spokesman Lance Berg. SponsorMatch, introduced last fall, is an investment category for defined contribution plans that combines a target-date fund with institutional investment strategies managed by BGI and a deferred fixed-income annuity element provided by MetLife. BGI manages the fund with the goal of participating in market gains and securing a certain level of income for retirement. SponsorMatch seeks to control exposure to market risk over time by increasing the funding to the annuity payout as the participant ages.
BGI taps MetLife
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