Results are presented for the two-body decays of mesons into light neutralinos and from the first complete calculation of the loop-induced decays of kaons to pions plus light neutralinos and of B mesons to kaons plus light neutralinos. The branching ratios are shown to be strongly suppressed within the MSSM with minimal flavor violation, and no bounds on the neutralino mass can be inferred from experimental data, i.e. a massless neutralino is allowed.