Stable Value Fund Information
Prudential Guaranteed Income Fund Information
Willamette University provides for a Stable Value Fund investment within its retirement plan. As summarized by the non-profit Stable Value Investment Association (SVIA), "Stable Value Fund investments are managed with the objective of maintaining principle stability, providing liquidity at Contract Value for participant-initiated transactions, and generating a positive and reasonably stable rate of return."
Under the recently adopted framework of the Willamette University Defined Contribution Retirement Plan, the University has selected the Prudential Guaranteed Income Fund (GIF) as the Stable Value option for the plan. The GIF is backed by the Prudential Retirement Insurance Annuity Company (PRIAC).
Prudential GIF Group Annuity Contract (Sample)*
Prudential GIF Benefits and Strengths
Prudential GIF Hypothetical Performance
Prudential GIF Portfolio Statistics
Prudential Retirement Insurance and Annuity Company (PRIAC) Financial Strength Review
Transfer Limits
The new Prudential Guaranteed Income Fund provides a periodic declared rate of return. This new fund does allow full transfers out of the fund and into other investments within the plan, with some limitations as to what kind of fund you can transfer to.
You cannot transfer assets out of the Prudential GIF fund and directly into a "competing fund" within the plan. Examples of competing funds as defined by the Prudential GIF contract includes Money Market funds and Short-Term Bond funds. The transferred assets must be held in a non-competing fund within the plan for at least 90 days before it can be transfered to a competing fund. It should be noted that these "competing fund" transfer restrictions do not apply to post-separation transfers/rollovers into other plans (or post 59 1/2 in-service transfers out of the plan).
For a full outline of transfer limits, please see the sample Group Annuity Contract above.
*Note, this is a copy of the unexecuted annuity contract between Willamette University and Prudential. This has been provided as a reference for understanding of transfer limits and other limitations of this particular investment choice on our plan and is not the actual executed contract for the plan. Because it is intended for use by the plan, it is written in legal language that may be difficult to understand. For additional information, or questions, please contact the Plan Administrator. We are working on constructing a simplified certified outline of the full limits on transfers, which will be provided on the Diversified website, as well as on this web page.