MetLife Retirement & Income Solutions

2024 QLAC Poll

3 min read
Mar 26, 2024

For our MetLife 2024 Qualifying Longevity Annuity Contract (QLAC) Poll, MetLife commissioned a survey of 250 U.S. plan sponsors to understand their knowledge about longevity and other risks that defined contribution (DC) plan participants will face in retirement, as well as their interest in offering retirement solutions to enable participants to generate retirement income. For this Poll, plan sponsors were surveyed to:

  • Assess their knowledge about longevity issues, including the average life expectancies of their DC plan participants
  • Gauge their level of concern about current and future retirees running out of money in retirement
  • Understand their familiarity with – and desire to offer – retirement income solutions, including longevity annuities
  • Determine how frequently they discuss retirement income solutions with their plan consultants/advisors, as well as the impact of their recordkeepers offering QLACs on their platforms
Thisyear theUS workplace

Many retirees will spend 25-30 years or more in retirement. It is no secret that people are living longer, and an increasing number of people actually live to 100. With increased lifespans, we decided to focus on QLACs, a type of longevity insurance, which provides guaranteed lifetime income and is designed to generate income starting at a later age, for example, an individual’s 80th or 85th birthday.

Want more insights from the 2024 QLAC Poll report?

Workers Depleting Their Retirement Savings is a Growing Concern

91 %

Plan sponsors are concerned that future retirees will run out of money in retirement

85 %

DC plan sponsors with a defined benefit (DB) plan will consider offering immediate income annuities

75 %

DC plan sponsors with a DB plan will consider offering QLACs

As the first company to introduce a longevity insurance product into the marketplace, and the first company to offer an institutional QLAC, MetLife believes that QLACs and other retirement income solutions should be given careful consideration by plan sponsors.

Most Attractive Features of a QLAC

55 % Solves for longevity risk by providing the participant with guaranteed income that cannot be outlived
54 % Allows the participant to receive higher monthly income payments with a smaller purchase amount than an immediate income annuity due to the long deferral period
38 % Allows the participant to determine exactly how much they can draw down from their remaining retirement assets since it is for a limited time horizon (e.g., 20 years)

Did you know?

70% of plan sponsors would consider purchasing a QLAC for their own retirement.


As the findings of MetLife’s 2024 QLAC Poll reveal, plan sponsors play a pivotal role in ensuring that DC plan participants achieve successful retirement outcomes. In order to help participants enjoy a financially secure retirement, plan sponsors should better understand (1) how long their plan participants will likely live, (2) the greatest risks they will face in retirement, and (3) the best solutions to help them protect their retirement assets.

Want more insights from the 2024 QLAC Poll ?


MetLife’s Retirement & Income Solutions division, the company’s institutional retirement business, issues products through Metropolitan Life Insurance Company (MLIC) and Metropolitan Tower Life Insurance Company (MTL), two wholly owned subsidiaries of MetLife, Inc. Retirement & Income Solutions issues products for transferred pension liabilities, stable value, institutional income annuities, benefits funding and structured settlements.

All guarantees are subject to the financial strength and claims-paying ability of the issuing MetLife company.