February 14, 2018 / 2:13 PM / 3 days ago

BRIEF-MetLife to "hold people accountable" for pension payments mishap - CEO

Feb 14 (Reuters) - Metlife Inc:

* CEO SAYS COMPANY IS “TAKING ACTION TO HOLD PEOPLE ACCOUNTABLE” FOR MISSING PENSION PAYMENT ISSUES - CALL

* CEO SAYS COMPANY WILL BEGIN PAYMENTS TO MISSING PENSIONERS “AS SOON AS THEY ELECT TO START THEIR BENEFITS” - CALL

* WILL PAY INTEREST ON BACK PAYMENTS AT RATE COMPARABLE TO WHAT FEDERAL PENSION BENEFIT GUARANTEE CORP USES, RESERVE CHARGE INCLUDES THE AMOUNT - CALL

* INTENDS TO COMPLETE $2 BILLION SHARE BUYBACK AUTHORIZATION AND EXECUTE OFFER FOR REMAINING BRIGHTHOUSE FINANCIAL INC STAKE BEFORE 2018 END-CEO

* CFO SAYS EXPECTS EFFECTIVE U.S. TAX RATE OF 18 PERCENT TO 20 PERCENT - CALL

* CEO SAYS EXPECTS EXPENSES FOR SEARCH TO FIND MISSING PENSIONERS WILL BE “ABSORBED BY THE BUSINESS” - CALL

* CEO SAYS THERE MAY BE COSTS FOR INVESTIGATIONS RELATED TO MISSING PENSIONERS AND SLIGHTLY HIGHER EXPENSES, BUT WITHIN EXPENSE RANGE FOR YEAR - CALL

* CEO SAYS WILL NEED TO “FILE WITH SEC” FOR “SOME NO ACTION RELIEF” RELATED TO SALE OF BRIGHTHOUSE FINANCIAL INC STAKE

* CEO SAYS COMPANY HAS NOT YET RESERVED LEGAL COSTS FOR REGULATORS’ PENSION PAYMENTS INVESTIGATIONS BECAUSE FIGURE IS PRESENTLY UNKNOWN Source text for Eikon: Further company coverage: (Reporting by Suzanne Barlyn)

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