MetLife Inc.'s retirement and savings unit announced Wednesday that Ibbotson Associates Advisors will make its plan sponsor investment advisory service available to small and midsize defined contribution plans that MetLife administers.
Plan sponsors that purchase the service from Chicago-based Ibbotson will get access to independent guidance when choosing an investment option lineup for their participants. Ibbotson will share fiduciary responsibility with the plan sponsor for investment selections.
Ibbotson is to start with the investment options that comprise MetLife's defined contribution investment menu. These options have been screened and analyzed by MetLife's investment strategies group. After analyzing these potential investments, Ibbotson recommends a list of options in five core asset classes and 10 supplemental asset classes that offer choices of money managers.
