METLIFE INSURANCE COMPANY OF CONNECTICUT
1300 Hall Boulevard
Bloomfield, CT 06002
INDIVIDUAL RETIREMENT ANNUITY QUALIFICATION RIDER
This Rider modifies the Contract/Certificate (hereinafter referred to as
Contract) to which it is attached so that it may qualify as an Individual
Retirement Annuity (IRA) under Section 408(b) of the Internal Revenue Code of
1986, as amended (the "Code") and applicable regulations. The provisions in
this Rider supersede any contrary provisions in the Contract, including the
provisions of any other riders or endorsements issued with the Contract. The
following conditions, restrictions and limitations apply.
EXCLUSIVE BENEFIT This Contract is established for the exclusive benefit of
You and Your beneficiaries. If this is an inherited IRA
within the meaning of Code Section 408(d)(3)(c) maintained
for the benefit of a designated beneficiary of a deceased
individual, references in this document to "You" or
"Your" are to the deceased individual.
OWNER AND ANNUITANT Unless otherwise permitted by the Code, the owner and
annuitant (hereinafter collectively referred to as You or
Your) of this Contract must be the same individual and
cannot be changed after the Contract Date. A joint owner
and/or a contingent annuitant cannot be named under this
Contract.
FIXED PREMIUMS This contract does not require fixed premiums.
TRANSFER OF Your interest in this Contract may not be sold, assigned,
OWNERSHIP/ASSIGNMENT discounted, or pledged as collateral for a loan or as
security for the performance of any obligation or for any
other purpose to any person. No loans shall be made under
this contract, unless permitted by the Code. Certain rules
may apply in the case of a transfer pursuant to divorce
under the terms of a Court Order or separation agreement,
as defined in Code Section 408(d)(6).
CREDITOR CLAIMS To the extent permitted by law, Your rights or benefits or
those of the beneficiary under this Contract shall not be
subject to the claims of creditors or any legal process.
NONFORFEITABILITY Your entire interest in this Contract is nonforfeitable.
CONTRIBUTION LIMITS All contributions to this Contract must be in cash. Except
in the case of a rollover contribution as permitted by
Section 402(c), 402(e)(6), 403(a)(4), 403(b)(8), 403(b)
(10), 408(d)(3) or 457(e)(16) of the Code, a nontaxable
transfer from an individual retirement plan under Section
7701(a)(37) of the Code, or a contribution made in
accordance with the terms of a Simplified Employee Pension
(SEP) program as described in Section 408(k) of the Code,
ongoing contributions to this Contract (if permitted)
shall not exceed the annual limits in accordance with
Sections 408(b) and 219(b) of the Code (or such other
amount provided by applicable federal tax law). In
particular, unless otherwise provided by applicable
federal tax law:
A. The total cash contributions shall not exceed $5,000
for any taxable year beginning in 2008 and years
thereafter. After 2008, the limit will be adjusted by
the Secretary of the Treasury for cost-of-living
increases under Code Section 219(b)(5)(D). Such
adjustments will be in multiples of $500.
B. In the case of an individual who is 50 or older, the
annual cash contribution limit is increased by $1,000
for any taxable year beginning in 2006 and years
thereafter.
No contribution will be accepted under a SIMPLE IRA plan
established by any employer pursuant to Code Section
408(p). No transfer or rollover of funds attributable to
contributions made by a particular employer under its
SIMPLE IRA plan will be accepted from a SIMPLE IRA, that
is, an individual retirement account under Code Section
408(a) or an individual retirement annuity under Code
Section 408(b) used in conjunction with a SIMPLE IRA plan,
prior to the expiration of the two-year period beginning
on the date the Owner first participated in that
employer's SIMPLE IRA plan.
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If this is an inherited IRA within the meaning of Code
Section 408(d)(3)(c), no additional contributions will be
accepted.
COMPENSATION Compensation means wages, salaries, professional fees, or
other amounts derived from or received from personal
service actually rendered (including, but not limited to,
commissions paid salesmen, compensation for services on
the basis of a percentage of profits, commissions on
insurance premiums, tips, and bonuses) and includes earned
income as defined in Code Section 401(c)(2) (reduced by
the deduction the self-employed individual takes for
contributions made to a self-employed retirement plan).
For purposes of this definition, Code Section 401(c)(2)
shall be applied as if the term trade or business for
purposes of Code Section 1402 included service described
in subsection (c)(6). Compensation does not include
amounts derived from or received as earnings or profits
from property (including but not limited to interest and
dividends) or amounts not includable in gross income
(determined without regard to Code Section 112).
Compensation also does not include any amount received as
a pension or annuity or as deferred compensation. The term
"compensation" shall include any amount includable in the
individual's gross income under Code Section 71 with
respect to a divorce or separation instrument described in
Code Section 71(b)(2)(A). The term "compensation" also
includes any differential wage payments as defined in Code
Section 3401(h)(2).
ROLLOVERS Pursuant to IRC Section 408(d)(3)(A), to the extent that a
distribution from this IRA would be included in income if
not rolled over, you may roll over such distribution
within 60 days to an eligible retirement plan. An eligible
retirement plan includes another traditional IRA, a
qualified pension, profit sharing or stock bonus plan, a
Section 403(b) tax sheltered annuity and an eligible 457
governmental plan. This IRA contract may receive eligible
rollover distributions from these plans as well.
Distributions You roll over from retirement plans or
arrangements described above to this Contract must be
completed by means of a direct transfer or rollover in
accordance with Code Section 401(a)(31) in order to avoid
the mandatory 20% income tax withholding from the
distribution and a possible 10% additional tax penalty
under Code Section 72(t). You may replace amounts withheld
from other sources to complete the full rollover, but the
10% penalty may continue to be due if You do not specify
that the transfer of the distribution be conducted by
direct transfer or rollover.
REQUIRED MINIMUM
DISTRIBUTIONS Notwithstanding any provision of this Contract to
the contrary, the distribution of an individual's interest
in the Contract shall be made in accordance with the
minimum distribution requirements of Code Section 408(b)
(3) and 401(a)(9) of the Code and the regulations
thereunder, the provisions of which are herein
incorporated by reference. If distributions are not made
in the form of an annuity on an irrevocable basis (except
for acceleration), then distribution of the interest in
the Contract (as such "interest" is described in the
subsection of this Rider titled "Distributions Upon Your
Death") must satisfy the requirements of Code Section 408
(a)(6) and the regulations thereunder, rather than the
subsection of the Rider titled "Distributions During Your
Lifetime" and the subsection of this Rider titled
"Distributions Upon Your Death".
DISTRIBUTIONS DURING YOUR LIFETIME
----------------------------------
Your entire interest in the Contract must be distributed
or begin to be distributed by Your required beginning
date, which is the April 1st following the calendar year
in which You reach age 70 1/2, or such later date
provided by applicable federal tax law. For each
succeeding year, a distribution must be made on or before
December 31st. By the required beginning date, You may
elect to have the balance in the Contract distributed in
one of the following forms:
1. a single sum payment;
2. equal or substantially equal payments over Your
life;
3. equal or substantially equal payments over the lives
of You and Your designated beneficiary (within the
meaning of Code Section 401(a)(9)); or
4. equal or substantially equal payments over a
specified period that may not be longer than the
joint life and last survivor expectancy of You and
Your designated beneficiary.
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Payments must be made in periodic payments at intervals of
no longer than 1 year and must be either non-increasing or
they may increase only as provided in Q&As-1, -4, and -14
of Section 1.401(a)(9)-6 of the Income Tax Regulations.
Also, to the extent permitted under the Contract, payments
may be changed in accordance with the provision of Q&A-13
of Section 1.401(a)(9)-6 of the Income Tax Regulations. In
addition, any distribution must satisfy the incidental
benefit requirements specified in Q&A-2 of Section
1.401(a)(9)-6 of the Income Tax Regulations.
The distribution periods described above cannot exceed the
periods specified in Section 1.401(a)(9)-6 of the Income
Tax Regulations. The first required payment can be made as
late as April 1 of the year following the year the
individual attains age 70 1/2 and must be the payment
that is required for one payment interval. The second
payment need not be made until the end of the next payment
interval.
If this is an inherited IRA within the meaning of Code
Section 408(d)(3)(C), this subsection "Distributions
During Your Lifetime" does not apply. See "Distributions
Upon Your Death" for the applicable rules.
MINIMUM AMOUNTS TO BE DISTRIBUTED
---------------------------------
If Your interest is to be distributed in other than a lump
sum or substantially equal amounts as discussed above,
then the amount to be distributed each year, commencing at
Your required beginning date, must be at least equal to an
amount prescribed under Code Section 408(b) and 401(a)(9)
and any relevant rules and regulations.
DISTRIBUTIONS UPON YOUR DEATH
-----------------------------
If You die on or after required distributions commence,
the remaining portion of Your interest (if any) shall be
distributed at least as rapidly as under the method of
distribution in effect as of the date of Your death.
If You die before required distributions commence, and
unless otherwise permitted under applicable law, Your
entire interest will be distributed as follows:
a. If Your interest is payable to a designated
beneficiary, except as provided in (b), (c) and
(d) below, the designated beneficiary may elect
to receive the entire interest over the life of
the designated beneficiary or over a period not
extending beyond the life expectancy of the
designated beneficiary, commencing on or before
December 31st of the calendar year immediately
following the calendar year in which You died.
Such election by the designated beneficiary must
be irrevocable and must be made no later than
December 31st of the calendar year immediately
following the calendar year in which You died. If
this is an inherited IRA within the meaning of
Code Section 408(d)(3)(C) established for the
benefit of a non-spouse designated beneficiary by
a direct trustee-to-trustee transfer from a
retirement plan of a deceased individual under
Section 402(c)(11), then, notwithstanding any
election made by the deceased individual, the
non-spouse designated beneficiary may elect to
have distributions made under this paragraph if
the transfer is made no later than the end of the
year following the year of death.
b. If there is no designated beneficiary, or Your
beneficiary elects this option, Your entire
interest in this Contract will be distributed by
December 31 of the calendar year containing the
fifth anniversary of Your death (or of the
spouse's death in the case of the surviving
spouse's death before distributions are required
to begin under paragraph (c) below).
c. If the sole designated beneficiary in (a) above
is Your surviving spouse, the surviving spouse
may elect to receive the entire interest in equal
or substantially equal payments over the life of
the surviving spouse or over a period not
extending beyond the life expectancy of the
surviving spouse, commencing at any date on or
before the later of:
(i) December 31 of the calendar year
immediately following the calendar year
in which the Annuitant died; or
(ii) December 31 of the calendar year in which
You would have attained age 70 1/2. Such
election by the surviving spouse must be
irrevocable and must be made no later
than the earlier of December 31 of the
calendar year
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containing the fifth anniversary of Your death,
or the date distributions are required to begin
pursuant to the preceding sentence.
If the surviving spouse dies before required distributions
commence to him or her, the remaining interest will be
distributed, starting by the end of the calendar year
following the calendar year of the spouse's death, over
the spouse's designated beneficiary's remaining life
expectancy determined using such beneficiary's age as of
his or her birthday in the year following the death of the
spouse, or, if elected, will be distributed in accordance
with paragraph (b) above. If the surviving spouse dies
after required distributions commence to him or her, any
remaining interest will continue to be distributed under
the contract option chosen.
If the sole designated beneficiary of this IRA is Your
surviving spouse, he or she may elect to treat the
Contract as his or her own, whether or not distributions
had commenced prior to Your death. This election will be
deemed to have been made if such surviving spouse makes a
contribution to this Contract (if permitted) or fails to
elect any of the above provisions. The result of such an
election is that the surviving spouse will be considered
the individual for whose benefit the IRA is maintained and
distributions will be based on the surviving spouse's age
and life expectancy.
Unless otherwise provided by applicable federal tax law,
life expectancy is determined using the Single Life Table
in Q&A-1 of Section 1.401(a)(9)-9 of the Income Tax
Regulations. If distributions are being made to a
surviving spouse as the sole designated beneficiary, such
spouse's remaining life expectancy for a year is the
number in the Single Life Table corresponding to such
spouse's age in the year. In all other cases, remaining
life expectancy for a year is the number in the Single
Life Table corresponding to the beneficiary's age in the
year specified in paragraph (a) or (c) and reduced by 1
for each subsequent year. If benefits are payable under
one of the annuity options under the Contract, life
expectancy shall not be recalculated.
Unless otherwise provided under applicable federal tax
law, the "interest" in this IRA Contract includes the
amount of any outstanding rollover, transfer and
recharacterization under Q&As-7 and -8 of Section 1.408-8
of the Income Tax Regulations. Also, prior to the date
that the Contract is annuitized, the "interest" in the
Contract includes the actuarial present value of any
additional benefits provided under this IRA Contract (such
as survivor benefits in excess of the dollar amount
credited to You or Your beneficiary under the Contract)
under Q&A-12 of Section 1.401(a)(9)-6 of the Income Tax
Regulations.
For purposes of this Section of the Rider, required
distributions are considered to commence on Your required
beginning date or, if applicable, on the date
distributions are required to begin to Your surviving
spouse under (c) above. However, if distributions start
prior to the applicable date in the preceding sentence, on
an irrevocable basis (except for acceleration) under an
annuity contract meeting the requirements of Section
1.401(a)(9)-6 of the Income Tax Regulations, then required
distributions are considered to commence on the annuity
starting date.
ALTERNATIVE CALCULATION METHOD
------------------------------
An individual may satisfy the Minimum Distribution
Requirements under Section 408(a)(6) and 408(b)(3) of the
Code by taking a distribution from one IRA that is equal
to the amount required to satisfy the minimum distribution
requirements for two or more IRAs. For this purpose, the
owner of two or more IRAs may use the alternative method
described in Q&A-9 of Section 1.408-8 of the Income Tax
Regulations, to satisfy the minimum distribution
requirements described above. Under such circumstances,
You shall be responsible for determining that the Minimum
Distribution Requirements are met and We shall have no
responsibility for such determination. Withdrawal Charges,
if otherwise applicable, will not be applied to the extent
of a distribution required under Code Sections 401(a)(9)
and 408(b)(3) with respect to this Contract.
The required minimum distributions payable to a designated
beneficiary from this IRA may be withdrawn from another
IRA the beneficiary holds from the same decedent in
accordance with Q&A-9 of Section 1.408-8 of the Income Tax
Regulations.
REPORTS As the issuer of this Contract, We will furnish You
reports concerning the status of this Annuity at least
annually and such information concerning required minimum
distributions
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as is prescribed by the Commissioner of Internal Revenue.
ADMINISTRATIVE As issuer of this Contract, We have the right to interpret
COMPLIANCE/AMENDMENT its provisions in accordance with the Code and regulations
thereunder in order to comply with Federal income tax
rules and to maintain this Contract's qualification as an
IRA under Section 408(b). If the Code and related law,
regulations and rulings require a distribution greater
than described above in order to keep this Annuity
qualified under the Code, we will administer the Contract
in accordance with these laws, regulations and rulings.
This contract may be amended by Us at any time to maintain
its qualified status under Section 408(b) of the Code,
following all necessary regulatory approvals. Any such
amendment may be made retroactively effective if necessary
or appropriate to conform to the requirements of the Code
(or any State law granting IRA tax benefits).
MetLife Insurance Company of Connecticut has caused this Rider to be signed by
its Secretary
[
/s/ Isaac Torres
-------------------------
]
[SECRETARY]
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