HomeMy WebLinkAboutCity of San Luis Obispo RFP Fixed Product DataData As Of Date
Company EXAMPLES
Product Name
Product Type
General Account, Separate
Account, Pooled Collective
Trust, etc
Total Assets (in $B)
Avg Credit Quality
Average/Effective Duration
Current Standard Crediting
Rate
Participant Transfer
Restrictions
Participant
Termination/Surrender
Fees or Restrictions
Plan Level Termination
Provision
12-month Put, Spread Pay 6
over 5, Contractual MVA
Formula, Actual Market
Value to Book Value, etc.
Contract Guar Min Int Rate
For GIF, the minimum crediting rates for
new business contracts will follow a
floating rate minimum approach in most
states (will not be less than 1% or greater
than
3%). The 4Q25 floating minimum will be
2.75%. Florida, Utah, and Oregon GIF
contracts will have a fixed 1.50%
minimum.
2.75%
Rate in column C, any
explanation column B
3/31/2026
Guaranteed Income Fund
General Account
$26.4
2.41 years
3.80%
The Guaranteed Income Fund is not offered alongside competing funds. Regardless of
market conditions, participants can transfer or withdraw their contributions and interest
at book value in accordance with the plan’s contract provisions.
Regardless of market conditions, participants can transfer or withdraw their contributions
and interest at book value in accordance with the plan’s contract provisions. There are no
surrender charges on the Guaranteed Income Fund.
The Guaranteed Income Fund pays book value in a lump sum or over time (subject to the
terms of the contract and depending upon the rate environment) and remains benefit
responsive upon discontinuance. The Guaranteed Income Fund does not have a market
value adjustment.
Plan sponsors can receive a lump sum book value payment within 90 days of notice if the
total distributions and transfers from a contract’s pool has not exceeded 10% of the
pool’s balance as of January 1. However, if total distributions and transfers from a
contract’s pool exceeds 10%, Empower may exercise the right to defer discontinuance
payments for up to 5 years. The plan sponsor also has the option to choose book value
annual installments for up to 10 years. Installments can range from one to 10 years (the
number of years for this option is calculated by taking the difference between the
Guaranteed Income Fund new business rate and the client’s current rate and rounding up
to the next integer). Both installment payout options may also result in a reduced
Guaranteed Income Fund crediting rate during the installment period subject to the
contractual minimum and any asset charge.
Prospective Standard Rate
Reset Schedule
Monthly, Quarterly, Semi-
Annually, Annually, No
prospective rate provided,
etc.
The Proposal Rate &
Guarantee Period
Corporate bonds/Credits 39.30%
Private Securities 24.20%
Mortgages 13.90%
CMO's 4.10%
Non-Agency CMBS 3.60%
Agency RMBS 2.50%
Non-Agency ABS 1.30%
U.S. Treasury & Agencies 0.80%
Non-Agency RMBS 0.80%
SVO Identified Bonds (ETFs) 1.40%
Other 4.00%
Cash and Short-Term 4.20%
100%
AAA 11%
AA 7%
A 32%
BBB 28%
BB & Below 2%
80%
CREDITING RATE HISTORY
1-Yr Average
3-Yr Average
5-Yr Average
10-Yr Average
Market / Book Ratio of
Portfolio
Semiannual on 1/1 and 7/1
3.36%
2.65%
N/A
SECTOR ALLOCATION [this is a
sample sector allocation,
please use what is standard for
your product discloser]
CREDIT QUALITY
3.95%
4.10%