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July 29, 2007
Dear County Executive,
On behalf of The County Executives of America (CEA)
and MetLife Resources (MLR) it is a pleasure to extend an invitation
to you to attend the Kentucky CEA benefit's conference. This
event is being held on August 10th, 2007 at the Griffin Gate Marriott
Resort in Lexington.
This one day event will consist of several informational
seminars detailing the benefits of being a CEA member as well as
how your county can take advantage of the new endorsement between
the CEA and MLR. Following the informational seminars will
be opportunity to get more acquainted at a complimentary golf outing
hosted by MLR at Marriott's Griffin Gate Golf Club.
Breakfast will be served before the information
sessions begin and a box lunch will be provided at the golf outing. For
those who would like to stay the night either before the conference
or after golf a block of rooms has been reserved at the Griffin
Gate Marriott Resort to accommodate.
Please make attendance at this event a priority
so you can take advantage of the opportunity to learn more about
some of the benefits available to your county through the CEA and
MLR as well as being able to meet with fellow Kentucky County Executives. I
look forward to seeing you there.
Sincerely,
Mike Griffin
Executive Director
County Executives of America
Schedule and registration information
below:
Kentucky CEA Benefits Conference
Griffin Gate Marriott Resort
August 10, 2007
The County Executives of America (CEA) and MetLife
Resources (MLR) are pleased to invite you to the Kentucky CEA benefits
conference which is being held at the Griffin Gate Marriott Resort
located in Lexington, KY. In order
to register for the conference please contact Christopher Loomis
at the number or e-mail below by August 3, 2007.
Registration Contact:
Christopher Loomis
720-239-2010
cloomis@metlife.com
August 10, 2007 Schedule
of Events
8:00 – 9:30 Registration & Breakfast
9:30 – 9:45 Introduction 9:45 – 10:15 Overview
of CEA Benefits 10:15 – 10:45 CEA/MLR Endorsement 10:45 – 11:00 Break
11:00 – 11:45 457(b) Deferred Compensation plan and
Worksite Benefits overview 11:45 – 12:00 Wrap up 12:00 – 1:00 Head
to golf course for box lunch 1:00 – 6:00 Golf Speakers
will include: Michael Griffin Executive Director County
Executives of America Scott Vensor Divisional Marketing Director MetLife
Resources Doug Peters Director of Worksite Benefits MetLife
Resources
There is no registration fee for the conference. If
you wish to spend the night the cost of the hotel room is $149.00/
night. To reserve a room call the Griffin Gate Hotel at (859)
231-5100, please state that you are staying at the hotel for the
MetLife conference and need a room for August 9th or 10th, 2007. A
block of rooms has been reserved to accommodate conference attendees. The
Griffin Gate Hotel is located at – 1800 Newtown Pike, Lexington,
KY 40511. For more information on the resort please visit
their website - http://marriott.com/hotels/travel/lexky-griffin-gate-marriott-resort/
PAST NEWS
METLIFE RESOURCES SELECTED TO PROVIDE 457(b)
PLAN TO
COUNTY EXECUTIVES OF AMERICA
Expands on recent agreement to offer
cost-effective
employee-benefits programs
NEW YORK, January 16, 2007 – MetLife
Resources, a division of MetLife, announced today that it has
been selected by County Executives of America (CEA) as a provider
of 457(b) deferred compensation plans to more than 700 elected
county officials across the U.S.
MetLife’s relationship with CEA began
in November 2006 when CEA offered members an expanded worksite
benefits program, including 125/FSA administration for their
employees.
 As part of the newly expanded relationship, MetLife Resources
will assist CEA members with an evaluation of current employee
benefits programs and discuss possible enhancements designed to
help attract and retain county employees by addressing common financial
and protection planning issues.
In addition, a team of financial services representatives will
provide employees with a wide range of one-on-one support at the
worksite location. These MetLife associates can help employees
understand their benefit choices, including 457(b) plans, expanded
workplace benefits offerings, and supplemental options outside
of the workplace program.
“Over the last year, MetLife Resources has significantly built up its
infrastructure to support future growth in the 457(b) deferred compensation
market,” said Thomas G. Hogan, Jr., senior vice president and head of
MetLife Resources. “We are pleased to be recognized by CEA for the value
we provide, not only with respect to retirement plans and education, but also
by understanding their employees and their overall benefits needs.”
“In addition to participating in the MetLife 457 (b) plan offerings,
the relationship with CEA will enable their members to take full advantage
of the full breadth of products and services MetLife has to offer,” Hogan
added. “By partnering with other organizations across our enterprise,
MetLife Resources can provide an array of benefits solutions to all CEA members,
regardless of their organization’s size or location.”
“By selecting MetLife as a CEA 457(b) provider, we are able
to offer our members a more comprehensive employee retirement and
benefits program to help address the financial needs of employees,” says
CEA executive director Michael Griffin. “MetLife’s
capabilities and proven record of achievement in workplace benefits
make them an ideal provider.”
The CEA is a non-partisan organization
that includes a membership of over 700 chief elected executives
of a county or consolidated city/county government. The CEA represents
more than 50% of the nation’s population and includes the
largest metropolitan governments in the U.S.
MetLife Resources, a division of MetLife
(Metropolitan Life Insurance Company), provides retirement plan
and other financial services to healthcare, education, and not-for-profit
organizations. MetLife is a subsidiary of MetLife, Inc. (NYSE:
MET), a leading provider of insurance and financial services
with operations throughout the United States and the Latin America,
Europe and Asia Pacific regions. Through its domestic and international subsidiaries
and affiliates, MetLife, Inc. reaches more than 70 million customers
around the world and MetLife is the largest life insurer in the
United States (based on life insurance in-force). The MetLife
companies offer life insurance, annuities, auto and home insurance,
retail banking and other financial services to individuals, as
well as group insurance, reinsurance and retirement & savings
products and services to corporations and other institutions. For
more information, please visit www.metlife.com.
LONG TERM DISABILITY
It's Important to Both Employers and Employees
Open any newspaper…
Chances are you’ll read that baby boomers are aging — and
the number of adults over 65 will double in the next twenty years.
Every one is living longer — during the 20th century, the
average life span increased by thirty years. All wonderful news.
Less frequently discussed is exactly what this will mean for you
and your employees in terms of long-term care. Regardless of the
average age of your work force, long-term care either is or may
become an issue for each and every one of them. Case in point:
27% of employed caregivers reported that they were considering
a job change as a result of their care giving/work experiences.1
The long-term care challenges are clear
While demographic trends will drive demand for long-term care
services in the years to come, it's important to remember that
this is not just an issue for seniors.
The Impact on Employers
Long-term care is clearly a concern for
employees, but does it have any impact on employers? It most certainly does. Providing
your employees with Long-Term Care Insurance underwritten by MetLife
can have a positive effect on your company’s bottom line.
Increase Employee Productivity
The time
and energy employees devote to caregiving responsibilities can
have a direct correlation to their relationship with your company,
in negative outcomes that include absenteeism … reduced
concentration
…workday interruptions … early retirement and turnover … decreased
on-the-job effectiveness. And when employee productivity is compromised,
so too is the overall efficiency and profitability of your company.
Long-Term Care Insurance from MetLife provides benefit plan decision-makers
an opportunity to increase their company’s productivity … today
and tomorrow.
Enhance Recruitment and Retention
Maintaining
a competitive advantage is an ongoing business challenge. Your
company’s ability to
attract and retain good talent is in part contingent on an excellent
benefits package. Offering Long-Term Care Insurance as a voluntary
benefit can be an ideal complement to your existing benefits
plan.
Minimize Health Plan Utilization
Almost
75% of caregivers surveyed said caregiving had an impact on their
health, with 20% reporting significant health problems. Of those,
nearly 25% reported more than eight additional visits per year
to a health care provider.5 Long-Term Care Insurance from MetLife
is designed to cover a broad range of family members including,
for example,spouses6 and
parents. As a result, employees are less preoccupied and burdened
with caregiving responsibilities for their loved ones, and usage
of your company’s health insurance by employed caregivers
is minimized.
The Impact on Employees
The odds are great that your employees,
their spouses6 and/or parents may require long-term care services.
Although many people believe that healthy habits such as eating
well and exercising will help them avoid a long-term care crisis,
the facts speak for themselves. The longer a person lives, the
more likely he or she is to need long-term care services. There
is no guarantee against long-term care arising from an accident,
serious illness or disability.
Long-term care services are generally not covered by any medical
insurance or a government health program. Most people believe their
costs will be covered by health insurance, Medicare, Medicaid or
other sources. This is a common misconception.
· Medical
insurance plans provide very few, if any, benefits covering long-term
or “custodial” care.
· Disability
income insurance provides income-replacement coverage, not payment
of long-term care expenses.
· Medicare
does not provide extensive coverage, and has several restrictions
and eligibility requirements.
· Generally,
Medicaid coverage varies by state and is dependent upon limited
financial assets.
The expense of long-term care services may
deplete savings and retirement assets
The numbers are staggering:
The national average annual cost for nursing home care is $61,000
and the national average for annual cost of home care ranges
from $19,656-$52,416.7 Based
on data from the Long-Term Care Financing Model and the National
Long-Term Care Survey, the Congressional Budget Office (CBO,1999)estimates
that inflation-adjusted expenditures for long-term care services
for the elderly will grow by 2.6 percent annually between 2000
and 2040. Expenditures are expected to reach $207 billion in 2020
and $346 billion in 2040.8
The alternatives to insurance are often inadequate
Times
have changed, but myths linger. It is often unrealistic for employees
to expect loved ones to take care of them, when today’s
families are smaller and geographically dispersed. Those who think
they can “self-insure” through savings may find those
savings quickly disappear. Studies have shown, for example, that
nest eggs may quickly be exhausted if long-term care services are
needed over an extended period of time.
Long-Term
Care: What It Is … and
Isn’t.
We’ve seen the trends
driving the need for long-term care and the implications of long-term
care services for employees and employers. However, the need
for long-term care is often misunderstood, making it more difficult
to discuss the important role of Long-Term Care Insurance.
Long-term
care is assistance that is typically expected to
be provided over a long period of time, to people who are unable
to care for themselves without the help of another person,
due to chronic health conditions and/or physical disabilities.
It’s the kind of care that’s generally not covered
by medical or disability insurance or even to any great extent
by Medicare.
Long-term
care is not the kind of care a person receives for an
acute condition— an illness or injury where recovery
and return to independence are expected.
Long-Term Care Insurance, therefore,
is designed to cover the costs of care for everyday activities
that healthy, fully functioning people are able to do independently.
Long-term care services are typically not
covered by medical or disability income insurance or to any great
extent by Medicare. And Medicaid coverage is based on financial
assets.
Long-Term Care Insurance from MetLife
It’s a simple
solution for a serious matter …for your company and employees
alike.
Have you met life today?
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