Stable Value White Paper
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Voya Stable Value Fund
Release Date 06-30-2021 Voya Stable Value Fund Asset Class: Stability of Principal rated or higher) as well as stable value collective funds and money market funds. Security backed contracts are backed Fees by high quality, marketable fixed income securities which provide a credited rate of interest based on the yields of the Management fees: 0.14% underlying securities. The underlying fixed income security exposure is obtained by investing in collective funds managed Trustee fees: 0.06% by the sub-advisor for this purpose or may be purchased directly by the sub-advisor. Securities backing investment Voya® fees: 0.00% contracts are all investment grade at time of purchase with a minimum average quality rating of AA. The various Total Annualized Gross Fund Fee: 0.20% investments that make up the portfolios are blended together to provide a combined daily accrual rate, net of all Fund and Total Annualized Net Fund Fee: 0.20% portfolio expenses. In addition to the annual Fund Fee, the Fund is charged for Risks general operating expenses (such as audit, custody service, There is no guarantee that the fund will meet its investment tax form preparation, legal and other expenses) to a objective. While the fund strives to maintain stability of maximum of 0.03% of Fund assets per year. The investment principal, it is possible to lose money by investing in this fund. portfolios in which the Fund invests also incur expenses, including expenses related to the Fund's outside management Withdrawals and Transfers fees, wrapper agreements, transfer agency fees, brokerage Transfers from the Fund to other investment options are commissions and expenses. -
City of Phoenix Law Department Outside Investment Counsel Stable Value Wrap Contract Services Request for Proposals (Rfp) No
CITY OF PHOENIX LAW DEPARTMENT OUTSIDE INVESTMENT COUNSEL STABLE VALUE WRAP CONTRACT SERVICES REQUEST FOR PROPOSALS (RFP) NO. 14-LAW-003 DEADLINE FOR RECEIVING OFFER Offers must be submitted by 3:00 p.m. MST on Wednesday, September 10, 2014 (“Offer Date”). Offers received after 3:00 p.m. MST may not be considered. Offers must be delivered to: Daniel L. Brown Acting City Attorney City of Phoenix Law Department 200 West Washington Avenue, 13th Floor Phoenix, AZ 85003-1611 If Offeror wishes to provide outside counsel legal services, Offeror must submit one (1) original and one (1) copy for a total of two (2) copies in a package marked: “Offer, Outside Counsel Legal Services, RFP No. 14-LAW-003.” For all Offers, the name of the Offeror should be listed on the outside of the package. All Offers must be complete by providing all of the information requested under Section III, Submission. DEADLINE FOR WRITTEN QUESTIONS Questions regarding this RFP should be submitted in writing to Stephanie Hart, via FAX (602) 534-7524 or e-mail to [email protected], no later than Wednesday, September 3, 2014, by 3:00 p.m., MST. Answers will be provided in the form of addenda and posted to the RFP Internet site by Monday, September 8, 2014. CONTACT PERSON CD ROM and hard copy formats of the RFP are also available upon written request and at no charge. For more information or an alternate format of this RFP, please contact [email protected] or (602) 262-6761 (voice)/800-534-5500 TTY – for Text Telephone Users only). -
Stable Value Fund Third Quarter 2020
MINNESOTA SUPPLEMENTAL INVESTMENT FUND - STABLE VALUE FUND THIRD QUARTER 2020 FUND OVERVIEW AS OF 9/30/20 INVESTMENT OBJECTIVE The Minnesota Supplemental Investment Fund - Stable Value Fund (the "Fund") is an 1 investment option that seeks to provide safety of principal and a stable credited rate ANNUALIZED PERFORMANCE of interest, while generating competitive returns over time compared to other comparable investments. Periods Ending ICE BofA 3Mo. 9/30/20 Fund (%) Benchmark (%) T-Bill (%) INVESTMENT STRATEGY 3Q'20 0.61 0.15 0.04 The Minnesota Supplemental Investment Fund - Stable Value Fund, managed by YTD 1.91 0.72 0.64 Galliard Capital Management, is primarily comprised of investment contracts issued by financial institutions and other eligible stable value investments. All contract 1 Year 2.61 1.23 1.10 issuers and securities utilized in the portfolio are rated investment grade by one of 3 Year 2.52 2.25 1.69 the Nationally Recognized Statistical Rating Organizations at time of purchase. The 5 Year 2.34 2.02 1.20 types of investment contracts in which the Fund invests include Security Backed Investment Contracts. These types of contracts seek to provide participants with 10 Year 2.43 1.58 0.64 safety of principal and accrued interest as well as a stable crediting rate. SECURITY BACKED INVESTMENT CONTRACTS are comprised of two components: FUND FACTS 1) investment contracts issued by a financial institution and 2) underlying portfolios Fund Category Stable Value of fixed income securities (i.e. bonds) whose market prices fluctuate. The investment Inception Date October 1, 1995 contract is designed to allow participants to transact at book value (principal plus Fund Assets $1,682,271,495 accrued interest) without reference to the price fluctuations of the underlying fixed income securities. -
John J. Kalamarides Senior Vice President Retirement Strategies & Solutions
John J. Kalamarides Senior Vice President Retirement Strategies & Solutions Prudential Retirement 280 Trumbull Street, H17C Hartford, CT 06103 A business of Prudential Financial, Inc. September 26, 2011 Mr. David A. Stawick, Secretary Commodity Futures Trading Commission Three Lafayette Centre 1155 21st Street, N.W. Washington, D.C. 20581 Ms. Elizabeth M. Murphy, Secretary Securities and Exchange Commission 100 F Street, NE Washington, DC 20549-1090 Re: File No. S7-32-11C, “Stable Value Contract Study” Dear Mr. Stawick and Ms. Murphy: Prudential Financial, Inc. (“Prudential Financial”) appreciates this opportunity to respond to the Securities Exchange Commission’s (the “SEC”) and the Commodity and Futures Trading Commission’s (the “CFTC” and together with the SEC, the “Commissions”) joint request for comments (the “Request for Comments”) in connection with the joint study regarding stable value contracts (“SVCs”) under Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”). Prudential Financial is a financial services leader with approximately $883 billion of assets under management as of June 30, 2011 and operations in the United States, Asia, Europe, and Latin America. Prudential is committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management, and real estate services. Prudential Financial’s retirement business (“Prudential Retirement”) delivers retirement plan solutions for public, private, and non-profit organizations. Services include state-of-the-art record keeping, administrative services, investment management, comprehensive employee investment 1 education and communications, and trustee services. -
STABLE VALUE August 2018 PERSPECTIVES
STABLE VALUE August 2018 PERSPECTIVES Stable Value: Unique Protection in a Rising Rate Environment At its core, stable value is a fxed stable value fund seeks to smooth the income investment, so it stands to underlying bond portfolio’s returns, reason that plan sponsors, consultants, earning a relatively consistent rate and stable value investors may be that generally tracks market rates over concerned about the prospect of rising time. Rather than recognize mark-to- interest rates. However, we believe that market losses immediately, a stable the unique protections provided by value fund’s investment contracts are stable value will beneft investors in a designed to amortize declines in mar- rising rate environment. ket value and protect investors from the volatility that a bond fund might Should stable value investors brace experience due to changes in interest Nick Gage Principal themselves for a rising interest rate rates or other factors. environment? While certainly a risk in the minds How would an increase in interest rates A stable value fund’s of all fxed income investors, rising beneft a stable value investor? interest rates should not be cause for When interest rates increase, the investment contracts undue concern for those invested in underlying bond portfolio’s cash fows are designed to stable value. In fact, we expect that can be reinvested at higher rates, amortize declines rising rates will ultimately beneft sta- which should ultimately translate in market value and ble value investors. Though essentially to a higher crediting rate for stable a fxed income investment, a stable value investors. A stable value fund’s protect investors from value fund offers the added protection investment contracts protect its the volatility that of investment contracts (issued by investors from the mark-to-market a bond fund might banks and insurance companies) that losses associated with rising rates by are designed to protect investors from smoothing the bond portfolio’s returns experience due to losses resulting from rising interest over time. -
Custom Annuity Allstate Life Insurance Company P.O
Custom Annuity Allstate Life Insurance Company P.O. Box 660191 Dallas, TX 75266-0191 Telephone Number: 1-800-632-3492 Fax Number: 1-877-525-2689 Prospectus dated May 1, 2020 Allstate Life Insurance Company (“Allstate Life”) has issued the Custom Annuity, a group and individual flexible premium deferred annuity contract (“Contract”). This prospectus contains information about the Contract. Please keep it for future reference. The Contract is no longer being offered for sale. If you have already purchased a Contract you may continue to add to it. Each additional payment must be at least $1,000. The Contracts were available through Morgan Stanley & Co. Inc., the principal underwriter for the Contracts. Morgan Stanley & Co. Inc., is not required to sell any specific number or dollar amount of securities but will use its best efforts to sell the securities offered. Discussion of Risk Factors begins on page 5 of this prospectus. The registrant’s obligations under the contract are subject to the financial strength and claims paying ability of the registrant. Investment in the Contracts involves serious investment risks, including possible loss of principal. This prospectus does not constitute an offering in any jurisdiction in which such offering may not lawfully be IMPORTANT made. We do not authorize anyone to provide any information or representations regarding the offering NOTICES described in this prospectus other than as contained in this prospectus. Neither the Securities and Exchange Commission ("SEC") nor any State securities commission has approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus. Any representation to the contrary is a criminal offense. -
UNDERSTANDING STABLE VALUE GALLIARD CAPITAL MANAGEMENT Stable Value
UNDERSTANDING STABLE VALUE GALLIARD CAPITAL MANAGEMENT Stable Value STABLE VALUE STRUCTURE WHAT IS A STABLE VALUE FUND? “Stable value funds are capital preservation investment options available in 401(k) plans and other types of savings plans. They are invested in a high quality, diversified Investment fixed income portfolio that is protected against interest rate volatility by contracts from Contracts banks and insurance companies. Stable value funds are designed to preserve capital while providing steady, positive returns. Stable value funds are considered a conservative and low risk investment compared to other investments offered in 401(k) plans.”1 Sov/ Supra 2% Cash 4% U.S. Gov’t/Agy 9% RELATIVE RISK LEVEL OF A STABLE VALUE FUND Marketable Fixed Income Securities Other U.S. Gov’t 11% Conservative Moderate Aggressive Tax Muni 5% Residential MBS 35% Money Markets Bond Funds Stock Funds Stable Value Corporates 26% CMBS 8% WHAT IS THE INVESTOR PROFILE FOR A STABLE VALUE FUND? A stable value fund may be appropriate for someone seeking to safeguard Illustrative of an investment contract. principal or balance a portfolio having more aggressive investments. Not representing that the above is an actual Galliard portfolio. HOW DOES STABLE VALUE COMPARE WITH A MONEY MARKET FUND? Both stable value funds and money market funds seek principal preservation. Stable value funds have historically produced higher returns than money market funds with less volatility.1 Galliard’s stable value DOES A STABLE VALUE FUND MAINTAIN A CONSTANT NAV OF $1.00 PER strategy seeks safety SHARE LIKE A MONEY MARKET MUTUAL FUND? of principal and a No. -
OPERS Stable Value Fund
Release Date:09-30-2019 OPERS Stable Value Fund .......................................................................................................................................................................................................................................................................................................................................... Benchmark Overall Morningstar Rating™ Morningstar Return Morningstar Risk USTREAS T-Bill Cnst Mat Rate 3 Yr QQQ Average Low Rated against 488 Short-Term Bond funds. An investment's overall Morningstar Rating, based on its risk-adjusted return, is a weighted average of its applicable 3-, 5-, and 10-year Ratings. See disclosure for details. Investment Strategy Performance The Stable Value Fund seeks to preserve principal value and 20 Total Return% provide a relatively stable rate of return comparable to 15 as of 09-30-19 investment grade intermediate fixed income yields over two 10 Investment Benchmark to four years. 5 The Fund invests in a diversified portfolio of stable value 0 contracts issued by banks, insurance companies and other -5 financial institutions and a variety of fixed income -10 Average annual, if greater instruments included U.S. Government and agency -15 securities, mortgage-backed securities, asset-backed than 1 year securities and corporate bonds. The return is affected by the YTD 1 Year 3 Year 5 Year 10 Year Since Inception general level of interest rates as well as cash flows, 1.91 2.54 2.24 2.02 2.12 3.61 Fund Return % including those from participant -
Your Guide to 403(B) Tax-Deferred Annuity Or Voluntary Savings Plans
Your guide to 403(b) tax-deferred annuity or voluntary savings plans How much can you contribute in 2021? Tax-deferred annuity plans are voluntary savings plans designed to help you build savings for your retirement. In this brochure, we’ll explain the contribution limits set by the Internal Revenue Code (IRC). Plus, we’ll show you how to calculate your maximum contribution amount so you can be sure to take full advantage of your opportunity to save. About TIAA TIAA’s purpose has remained constant for more than 100 years: To help you save for—and generate income during—retirement. For more information, visit us at TIAA.org or call us at 800-842-2252. What is a tax-deferred annuity plan? A tax-deferred annuity (TDA) plan is a type of retirement plan designed to complement your employer’s base retirement plan. Sometimes, a TDA plan is also referred to as a voluntary savings plan, a supplemental plan, a tax-sheltered annuity (TSA) or simply a 403(b) plan. A TDA plan is an employer-sponsored Defined Contribution retirement plan to which you can contribute a percentage of your base salary. Retirement plan contribution limits There are maximum limits to how much you can contribute to your retirement plans each year. These are governed by Sections 415 and 402(g) of the Internal Revenue Code (IRC). W For your employer’s 403(b) plan. The Defined Contribution limit applies to all pretax and after-tax (i.e., non-Roth and Roth) contributions; mandatory employee contributions; and all employer-matching and nonmatching contributions. -
Stable Value Investment Management Services
STATE OF VERMONT OFFICE OF THE STATE TREASURER 109 State Street, 4th Floor MONTPELIER, VERMONT 05609-6200 802-828-2301 www.vermonttreasurer.gov SEALED BID REQUEST FOR PROPOSAL STABLE VALUE INVESTMENT MANAGEMENT SERVICES DATE: MONDAY, MARCH 19, 2012 QUESTIONS DUE BY: MONDAY, APRIL 2, 2012 DATE OF BID OPENING: MONDAY, APRIL 16, 2012 TIME OF BID OPENING: 4:00 P.M. LOCATION OF BID OPENING: 109 State Street, Montpelier, VT, 4th Floor ALL NOTIFICATIONS, RELEASES AND AMENDMENTS WILL BE POSTED AT: www.vermonttreasurer.gov THE OFFICE OF THE STATE TREASURER WILL MAKE NO ATTEMPT TO CONTACT BIDDERS WITH UPDATED INFORMATION. IT WILL BE THE RESPONSIBILITY OF EACH BIDDER TO PERIODICALLY CHECK THIS SITE FOR THE LATEST DETAILS. CONTACT: Katie George TELEPHONE: (802) 828-3708 E-MAIL: [email protected] FAX: (802) 828-2772 STATE OF VERMONT OFFICE OF THE STATE TREASURER 109 State Street, 4th Floor MONTPELIER, VERMONT 05609-6200 802-828-2301 www.vermonttreasurer.gov SEALED BID INSTRUCTIONS All bids must be sealed and must be addressed to: Office of the State Treasurer 109 State Street, 4th Floor Montpelier, VT 05609-6200 BID ENVELOPES MUST BE CLEARLY MARKED ‘SEALED BID’ AND SHOW THE PROPOSAL TITLE, OPENING DATE AND NAME OF BIDDER. All bidders are hereby notified that sealed bids must be in the Office of the State Treasurer by the time of the bid opening. Bidders are cautioned that it is their responsibility to originate the sending of bids in sufficient time to ensure receipt by the Office of the State Treasurer prior to the time of the bid opening. -
Information for Annuitants (CSRS)
Information for Annuitants Civil Service Retirement System (CSRS) This pamphlet answers the questions most frequently asked by Civil Service Retirement System annuitants. Color profile: Generic CMYK printer profile Composite Default screen Table of Contents Page How to Contact OPM ..................................1 General Information ...................................2 Payments .....................................2 Address Changes .................................3 Survivor Elections At Retirement and Afterwards................3 Survivor Reductions Based on Court Orders ..................7 When Survivor Reductions Cease ........................7 How Annuity Affects Your Payments From Social Security ..........8 Civil Service Retirement System (CSRS) Offset Employees ..........8 Federal Income Tax and Your Annuity .....................9 State Income Tax and Your Annuity.......................9 Changing to Disability Retirement .......................10 Returning to Work in the Federal Government.................10 Waiver of Annuity ...............................12 Government Claims...............................12 Powers of Attorney ...............................13 Representative Payees .............................13 Designations of Beneficiary ..........................14 Actions Needed When You Die ........................14 Survivor Annuities ...............................15 When Survivor Annuities Begin and End ...................16 Reinstatement of Terminated Survivor Annuities ...............17 Lump-sum Death Benefits ...........................17 -
Ins 306.04 Table 300.5 Buyer's Guide to Annuities BUYER's GUIDE to ANNUITIES WHAT IS an ANNUITY? an Annuity Is a Series of Paym
Ins 306.04 Table 300.5 Buyer's guide to annuities BUYER'S GUIDE TO ANNUITIES WHAT IS AN ANNUITY? An annuity is a series of payments made at regular intervals. You can buy annuity contracts from life insurance companies. In return for premiums that you pay, the company will pay you an annuity. An annuity contract is not a life insurance policy or a health insurance policy. It is not a savings account or savings certificate, nor should it be bought for short term purposes. TYPES OF ANNUITY CONTRACTS Annuity contracts may be classified in a number of ways. The most common classifications are set out below. Annuity contracts may be either immediate or deferred. Immediate annuity contracts provide income payments that start shortly after you pay the premium. Deferred annuity contracts provide income payments that start later, often many years later. Thus, the main reason for buying an immediate annuity contract is to obtain an income, most frequently for retirement purposes. There are two reasons for purchasing a deferred annuity contract. One is to obtain a vehicle for the accumulation of money on a tax-deferred basis. Secondly, the money accumulated can then provide an income. Annuity contracts may be either single premium or installment premium. Single premium contracts require you to pay the company only one premium. Installment premium contracts are designed for a series of premiums. Most of these are flexible premium contracts; they allow you to pay as much as you wish whenever you wish, within specified limits. Others are scheduled premium contracts, which specify the size and frequency of your premiums.