Today, New York Life Investments announced the launch of the Guaranteed Interest Pension Account (GPA).
GPA provides organizations with a well-suited investment option for near-term qualified pension plan liabilities. It allows sponsors to structure a portion of their assets to mirror liability cash flows, as outlined in the funding model set forth by the Pension Protection Act of 2006.
The Act outlines three segments for liabilities based on duration and the corporate bond yield curve. The GPA solves for the "near-term" segment (0-5 years) by providing sponsors an investment option that offers a guarantee of principal coupled with competitive yields.
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