New York Life Retirement Plan Services’ Stable Value Products Added to TD Ameritrade’s Platform
Westwood, Mass. – March 11, 2014 – New York Life Retirement Plan Services, a leading provider of retirement plan solutions to U.S. corporations and unions, is pleased to announce 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 an 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.
New York Life Insurance Company offers a full range of stable value solutions and is a leader in the industry with more than 30 years of experiences and $23 billion in stable value assets. New York Life has the highest financial strength ratings currently awarded to any life insurer from all four of the major credit rating agencies: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aaa), Standard & Poor’s & (AA+). (Individual Third Party Ratings Report February 3, 2014.)
About New York Life Retirement Plan Services
New York Life Retirement Plan Services offers bundled retirement plan solutions and defined contribution investment only products throughout the United States. New York Life Retirement Plan Services, a division of New York Life Investment Management LLC, (New York Life Investments) administers $51 billion in bundled retirement plans as of December 31, 2013. With offices in Westwood, Massachusetts, Parsippany, New Jersey, and San Francisco, New York Life Retirement Plan Services is widely recognized for its leadership within the retirement plan industry.
About New York Life Investments
New York Life Investments, a wholly owned subsidiary of New York Life Insurance Company, is a leading investment management firm, with $411 billion in assets under management, as of December 31st, 2013. New York Life Investments ranks among the world's largest asset managers1 and through its multiple-boutique investment structure, offers access to an array of fixed income, equities and alternative products for institutional and retail clients. New York Life Investments is also a leading provider of retirement plans for corporations, multi-employer trusts, and individuals, and is recognized as one of the nation's top providers of guaranteed products to both the qualified and non-qualified markets. "New York Life Investments" is a service mark used by New York Life Investment Management Holdings LLC and its subsidiary, New York Life Investment Management LLC.
About New York Life Insurance Company
New York Life Insurance Company, a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States2 and one of the largest life insurers in the world. New York Life has the highest possible financial strength ratings currently awarded to any U.S life insurer from all four of the major credit rating agencies: A.M. Best (A++), Fitch (AAA), Moody's Investors Service (Aaa), Standard & Poor's (AA+).3 Headquartered in New York City, New York Life's family of companies offers life insurance, retirement income, investments and long-term care insurance. Please visit New York Life's website at www.newyorklife.com for more information.
1. Source: New York Life Investments ranked 29th among the world's largest money managers within Pensions & Investments, May 27, 2013. Rankings are based on total worldwide institutional assets under management for the year-end 2012. New York Life Investments assets include assets of affiliated investment advisors.
2. Based on revenue as reported by "Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual)," Fortune magazine, May 20, 2013. See http://money.cnn.com/magazines/fortune/fortune500/2013/faq/?iid=F500_sp_method for methodology.
3. Individual independent rating agency commentary as of 2/3/14.
For additional information, please contact:
CL- Media Relations
New York Life Insurance Company