New York, Massachusetts regulators probing MetLife over unpaid pensions

|By:, SA News Editor

State regulators in New York and Massachusetts say they are investigating MetLife (NYSE:MET) after the insurer said last week it had failed to pay parts of pensions to ~600K retirees.

New York's Department of Financial Services says it was aware that MET had failed to pay the pensions before the insurer's public disclosure last Friday and will work to remediate the issue.

MET pledges to fully cooperate with regulators, saying "While it is still difficult to track everyone down, we have not been as aggressive as we could have been."

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