PROVIDENCE – Massachusetts has sent hundreds of letters to retirees of MetLife Inc., telling them they are owed pension payments.
Secretary of the Commonwealth William F. Galvin last week announced his office recently discovered hundreds of Massachusetts retirees were owed pension payments.
MetLife, a global insurer, provided the names to Galvin’s office, which opened an investigation into the company in December. The company then-announced it had failed to make payments to thousands of retirees.
Galvin said his office has so far been able to identify most addresses belonging to the affected retirees.
“My office was able to locate many of these retirees in just two months. My primary goal is to get these workers their hard-earned retirement benefits,” Galvin said in prepared remarks. “Once that has been accomplished, my office will seek to establish what meaningful effort MetLife has made in the past to locate and pay these people, many of who are likely living on fixed income.”
The average age of an affected MetLife retiree is 72, he said.
Galvin has expanded his investigation to look at other firms that provide retirement benefits, including Prudential, Transamerica, Principal Financial and Mass Mutual, according to a press release.
Eli Sherman is a PBN staff writer. Email him at Sherman@PBN.com, or follow him on Twitter @Eli_Sherman.