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Tax-Sheltered Annuity (TSA)
Start NOW to prepare for a financially secure future
Whether retirement is a long way off or just around the corner,
a 403(b) tax-sheltered annuity (TSA) can play an important role in helping you achieve your financial goals.
A TSA allows educators like yourself to save for retirement by regularly setting aside a portion of your pay on a pre-tax basis. And the retirement savings
you accumulate in your TSA may later provide retirement income you can't outlive (once you annuitize and select a lifetime income annuity option.) MTA Benefits and its licensed insurance agency have contracted exclusively with MetLife to offer these TSA products to MTA members. Let MetLife
help you get started.
Advantages of contributing to a TSA could include:
An immediate federal income tax break
— Before-tax salary reductions
reduce current taxable income*
Tax-deferred growth of retirement savings
* — Defer taxes on potential investment growth
Systematic contributions through payroll reduction
— Your contributions are deducted automatically from your paycheck
— A broad range of investment choices among a variety of asset classes to address different investment risk tolerances
Your 403(b) balance is portable
— You can take it with you if you change employers
In 2014, federal tax law allows you to contribute up to $17,500 to your TSA account. In addition, you may be eligible to contribute up to an additional $5,500 if you are age 50 or older and up to an additional $3,000 if you have worked for the same employer for at least 15 years.
*For any tax-qualified account, e.g. a TSA, the tax deferred accrual feature is provided by the tax-qualified retirement plan. Therefore, there should be reasons other than tax deferral for acquiring an annuity contract within a qualified plan, such as the death benefit.
Needs Analysis and Workshops
MetLife Financial Services Representatives (FSRs) are available throughout the state to help you with your retirement planning needs, including:
Retirement Needs Analysis
— To estimate the amount you’ll need to save based on your estimated pension
— To show you how contributing to your 403(b) program will affect your take-home pay
— To show how your retirement savings might grow over time based on the amount you’ve decided to contribute and a hypothetical investment return assumption
There are no additional charges for these services.
MetLife FSRs, with the assistance of MTA Benefits, conduct informational financial presentations at schools. In addition to these in-person sessions, MetLife also offers a number of web-based workshops such as:
Beyond Your Pension
A 403(b) Lesson Plan for Teachers
Balancing Market Ups & Downs
Managing Credit & Debt
There are no additional charges for these services.
A Diverse Investment Menu For School Districts
In addition to comprehensive member education, MetLife can provide schools with a range of competitive investment options.
In schools where MetLife is one of several approved plan providers, MetLife offers the
MetLife Financial Freedom Select® (MFFS) variable annuity B and L class
MFFS features over 50
funding options, including asset allocation portfolios, index portfolios, portfolios that invest in exchange-traded funds, a competitive Fixed Interest Account and contract options that allow members to customize the contract to meet their individual retirement savings needs and objectives.
For eligible school districts, MetLife can also make available
, a diverse lineup of mutual funds that are selected by Morningstar Associates, LLC ("Morningstar").
The mutual fund lineup is based on Morningstar's qualitative and quantitative screening process and is selected from those mutual funds that MetLife and/or its affiliates make available.
To learn more about the investment options available to you, or for an appointment, contact Randy Feid, Workplace Sales Director at 508.870.1724, or
If you are already a participant in the MTA-endorsed TSA program, you can access your MFFS account using the MetLife website below.
MetLife Financial Freedom Select® variable annuity account information
Withdrawals from TSA annuity contracts prior to age 59 1/2 are prohibited except in certain circumstances. . Taxable withdrawals are subject to ordinary income tax and if received before age 59 1/2 are generally subject to a 10% federal income tax penalty.
Contract fees and expenses apply, as well as investment management fees and expenses of the underlying portfolios.
Withdrawals are subject to an early withdrawal charge.
Other expenses may apply.
Please see the prospectus for more details.
Morningstar Associates, LLC ("Morningstar") is a registered investment advisor and wholly-owned subsidiary of Morningstar, Inc. Morningstar provides mutual fund lineup selection and monitoring to non-ERISA 403(b) plans through the ExpertSelect service made available by MetLife.
Neither Morningstar nor Morningstar, Inc. is affiliated with Metropolitan Life Insurance Company. Morningstar is solely responsible for its advice; MetLife is not responsible for the recommendations made by Morningstar. The Morningstar name and logo are registered marks of Morningstar, Inc. All other marks are the property of their respective owners. Particpants pay an investment management fee of 0.05% to Morningstar on their mutual fund plan account balance for this service as well as investment management fees and expenses of each mutual fund and program fees to MetLife.
Under an agreement with MTA Benefits and its licensed insurance agency, MetLife has been exclusively authorized to offer its tax sheltered annuity products to MTA members and their employee groups. MTA Benefits provides marketing services on behalf of MetLife to promote the annuity products to MTA members and their employers, and MetLife pays MTA Benefits a fixed annual marketing fee for its services, which fee is not based on the volume of sales or the amount of assets invested in the tax-sheltered annuity products. You may wish to take into account this agreement and arrangement, including the fee paid, when considering and evaluating the MetLife tax-sheltered annuity products. You may also wish to consider competitive products and their administrative fees before making your decision. MTA and MTA Benefits are not affiliated with MetLife.
Neither MTA nor MTA Benefits is a registered broker-dealer. All securities brokerage services are performed exclusively by MetLife broker-dealers and not by MTA or MTAB.
The information contained in this document is not intended to (and cannot) be used by anyone to avoid IRS penalties. This document supports the promotion and marketing of insurance products. Clients should seek advice based on their particular circumstances from an independent tax advisor, since any discussion of taxes is for general informational purposes only and does not purport to be complete or cover every situation.
MetLife, its agents and representatives may not give legal, tax or accounting advice and this document should not be construed as such. Clients should confer with their qualified legal, tax and accounting advisors as appropriate.
MetLife Financial Freedom Select® variable annuity (MFFS) and Mutual Funds are offered by prospectus only, which is available from your registered representative. You should carefully consider the product’s features, risks, charges and expenses, and the investment objectives, risks and policies of the underlying portfolios as well as other information about the underlying funding choices. This and other information is available in the prospectus, which you should read carefully before investing. There is no guarantee that any of the variable investment options in these products will meet their stated goals or objectives.
The amounts allocated to the variable investment options of your account balance are subject to market fluctuations so that, when withdrawn or annuitized, it may be worth more or less than its original value. Product availability and features may vary by state. All product guarantees are based on the financial strength and claims-paying ability of Metropolitan Life Insurance Company.
Diversification cannot eliminate the risk of investment losses, and past mutual fund performance is not a guarantee of future results. MetLife and/or its affiliates receive fees from the fund families for distribution and/or administrative services.
Like most annuity contracts, MetLife contracts contain exclusions, limitations, reduction of benefits, surrender charges and terms for keeping them in force. Your representative can provide you with costs and complete details.
MetLife Financial Freedom Select variable annuity is issued by Metropolitan Life Insurance Company (MLIC), New York, NY 10166, on Policy Form G.FFS (08/02) and distributed by MetLife Investors Distribution Company (MLIDC), (Member FINRA), Irvine, CA 92614. Securities and investment advisory services are offered through MetLife Securities, Inc. (MSI) (member FINRA/SIPC), a Registered Investment Advisor, 1095 Avenue of the Americas, New York, NY 10036. MLIC, MLIDC, and MSI are MetLife companies. MTA and MTAB are not affiliated with MetLife.
”The TSA program
provides financial security
for my future. The
service is exceptional and
information is presented
in a way that is easy to
”When I switched
careers, moving from the retail world to teaching, I
recognized the need to supplement my
retirement income since I would not be able to collect all of my Social
Security benefits as a teacher. I signed up for a tax-sheltered annuity
through MTA Benefits, realizing how much my
money could compound and grow under this
plan. By having the
contribution taken out of my paycheck, I don't
even notice it's gone. At night I teach a consumer
math program and tell young people just how important it is to save — it will provide them with the financial security they need at retirement."
MTA Benefits, Inc., 20 Ashburton Place, Boston, MA 02108-2795 800.336.0990 - Fax: 617.557.6687 -
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