Preference Plus Account ("PPA")
Product ID: 42
Type:
Variable Annuity
$214
0.69%
8 Years / 7.00%
Yes
Roth Eligible
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Enrollment and Questions
Use the following contact information to enroll or ask questions.
E-mail:
Address:
Website:
Phone:
(714) 425-1920
E-mail:
Address:
In-person:
Questions about enrollment?
View the Contact Information tab on the Vendor Details page for a list of office locations.
View the Contact Information tab on the Vendor Details page for a list of office locations.
- Product Details
- Fees and Charges
- Investment Options
PPA is a variable annuity that offers funding options from a wide spectrum of asset classes including asset allocation portfolios and a fixed interest account. It also offers five automated investment strategies that can help with diversification.
Select the topics below to expand and view additional product details
To help your employees determine a suitable asset allocation strategy, we have developed an Asset Allocation Service that will you:
Outline investment objectives.
Determine whether you are a conservative or aggressive investor - or somewhere in between
Choose investment options that correspond to your objectives and level of risk tolerance.
MetLife has teamed up with Ibbotson Associates to develop asset allocation models to help investors match their investment choices with their objectives and investment styles.
The Rebalancer(sm)
This strategy utilizes an asset allocation approach to investing involving any combination of the funding options. The funds are allocated according to the investor's instructions. Over time, riskier assets tend to out-perform more conservative options, so a portfolio that is not regularly adjusted can easily move out of line with the investor's risk tolerance. The Rebalancer prevents this situation by redistributing the assets back to the selected allocation on the last Friday of each calendar quarter. Not only will the Rebalancer maintain the desired risk tolerance, but it may also automatically "buy low and sell high."
The Allocator(sm)
The Allocator strategy enables investors to help reduce the volatility of the market through dollar-cost averaging. This strategy can be especially effective for participants who have a large amount of assets to invest. Here's how: The transaction occurs monthly. A specific amount of money or percentage of the balance in the Fixed Interest account is transferred to any one or combination of Separate Account investment divisions. The investor selects the amount to transfer, the date of transfer, the time frame, and the investment divisions to be transferred into.
Free. Non-taxable. Unlimited. Other restrictions may apply. Please see prospectus for more details.
The Death Benefit is the greatest of: 1. Account Balance; 2. Purchase Payments less withdrawals (including any applicable withdrawal charges); or 3. Highest Account Balance on 12/31 following the end of any fifth contract anniversary less withdrawals, fees and charges.
If money is invested in the Fixed Interest Account, we guaranteed that you will receive that dollar amount upon termination of the contract, less any prior withdrawals.
Loans will be available to participants according to Internal Revenue Code and plan requirements.
Available if permitted by the plan.
See prospectus for details.
Yes
Joint Life and Survivor/Contingent Survivor Annuity - An income payable during the joint lives of the annuitant and a named second person and thereafter during the life of the survivor/contingent survivor. The income payable to the survivor/contingent survivor may be a percentage of the amount that had been payable while both persons were alive, as follows: 100%, 75%, 66 2/3%, or 50%. The percentage payable to the survivor/contingent survivor is selected when the income plan is selected.
Joint Life and Survivor/Contingent Survivor Annuity with a Guaranteed Period - An income payable during the joint lives of the annuitant and a named second person and thereafter during the life of the survivor/contingent survivor. If, at the death of the survivor/contingent survivor, payments have b
Life Annuity - An income payable during the annuitant's life. Payments cease with the last one due before the annuitant's death.
Life Annuity with Refund - An income payable during the annuitant's life. Payments cease with the last one due before the annuitant's death. At the annuitant's death, the beneficiary receives a benefit, if any, equal to the amount applied under this income type less any income payments that were paid prior to death.
Life Annuity with a Guaranteed Period - An income payable during the annuitant's life. If, at the death of the annuitant, payments have been made for less than the guaranteed period, payments are made to the beneficiary for the remainder of the guaranteed period.
Available as an option.
Available as an option.
An income payable for a guaranteed period, i.e. 10 years.
All 403(b) products contain fees. The amount of fees varies greatly depending on the product. A slight increase in fees can
substantially reduce the growth in your account which will reduce your income in retirement. To learn more about the impact
of fees, and the different types of fees please refer to the
Explanation of Fees piece located in the
Help & Resources.
Fees
|
|
$20.00 | Annually | Flat Dollar Amount | Yes | No | No |
|
|
$25.00 | At the time funds are withdrawn | Flat Dollar Amount | No | No | No |
|
|
1.25% | Annually | Percentage of Annual Assets | No | No | No |
Surrender Charges
| Surrender Period* | Surrender Percentage |
|---|---|
| 1 | 7.00% |
| 2 | 6.00% |
| 3 | 5.00% |
| 4 | 4.00% |
| 5 | 3.00% |
| 6 | 2.00% |
| 7 | 1.00% |
| 8 | 0.00% |
*Expressed in contract years
Surrender Penalty Charge assessed on a "rolling" basis:
The withdrawal charge schedule for each contribution starts 7% and decreases by 1% each year to 0% in the eighth year.
Exceptions to the Surrender Charge:
Other Restrictions:
Exceptions to the Surrender Charge:
Percent of contract value:
10.00%
Death:
Yes
Disability:
Yes
No withdrawal charge applies to withdrawals made under the following circumstances: required minimum distribution, retirement or separation from service, provided that you have participated for at least 10 years. Waiver applies to only flow deposit
