New York Life Retirement Plan Services, a retirement plan solutions provider, has announced that its stable value products have been added to TD Ameritrade Trust Company's platform, and are now offered on 24 platforms in total.
TD Ameritrade Trust Company added New York Life’s Guaranteed Interest Account (GIA) and Anchor stable value solutions to its defined contribution investment line-up in mid-January.
As of December 31, 2013, GIA and Anchor had $6.1 billion in assets. The GIA is a general account group annuity contract, backed by the full faith and credit of New York Life, which enjoys the highest possible financial strength ratings.
The account is invested in a diversified fixed income portfolio that seeks to provide a low-risk, stable investment option to retirement plan participants at competitive rates. Anchor is offered both as a pooled separate account group annuity and as a Collective Investment Trust (CIT), also invested in a diversified fixed income portfolio with an insurance wrapper provided by New York Life.
"As retirement markets have moved increasingly to open architecture, we are pleased that a growing list of prominent retirement providers continues to seek out stable value solutions as they work to safeguard the retirement savings of their participants. Our sales, product and marketing teams have done a great job educating and paving the path for this success," said Kevin Mansfield, national sales manager of stable value investments at New York Life Retirement Plan Services.
Stable Value options remain a popular investment choice for participants because of the protections provided by the stability of principal, liquidity and competitive returns. They are less volatile than bond funds and generally offer a higher return than money market funds. Stable value accounts for 17% of 401(k) assets at New York Life, with nearly 40% of its participants invested in stable value.
"We continue to be very pleased at the receptivity to adding New York Life products from our partners. Our approach has been to go both broad and deep with our partnerships in a quest to educate them about stable value and our considerable capabilities," said Mansfield.