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MetLife Reaches Settlement With Massachusetts Over Failure to Pay Thousands of Workers' Pensions
The Wall Street Journal; subscription may be required
Dec. 19, 2018
"MetLife Inc. MET 1.90% will pay a $1 million fine to Massachusetts in its first regulatory settlement after the insurer failed to pay 13,500 people their pension benefits. The big New York insurer disclosed almost exactly one year ago that it had failed to adequately search for beneficiaries of private-sector pension plans for which it had taken on responsibility.... Some retirees were owed money from as far back as the 1990s, with amounts averaging less than $150 a month."
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