Income for Life Annuity Program
ICMA-RC partners with MetLife and John Hancock to make annuities available through the Income for Life Annuity Program. These insurance companies compensate ICMA-RC for providing administrative services in support of the program. The fee is 80 basis points (0.8%) per year of the purchase amount of the annuity for a period of five years. During the one-year period ending June 30, 2014, ICMA-RC received compensation in the amount of $12,652.52 from MetLife and $1,304.78 from John Hancock.
Long-Term Care Insurance Solutions
ICMA-RC partners with Long-Term Care Quote (LTCQ) to provide long-term care insurance solutions to participants. LTCQ compensates ICMA-RC for providing administrative support to this program. Compensation is paid directly by LTCQ to ICMA-RC and does not impact or reflect the amount of long-term care insurance coverage received or the premium amount paid by the purchaser. During the one-year period ending June 30, 2014, ICMA-RC received compensation in the amount of $2,000.00 from LTCQ.