The Standard Insurance Company has announced a new stable value investment product—The APEX Series—that offers four fund options and competitive guaranteed rates through June 2023.
The APEX Series expands on the firm’s existing stable value portfolio by offering returns that reflect the rising corporate and treasury rate environment.
“The APEX Series offers four compelling stable value solutions for retirement investors seeking to take advantage of the current rate environment, while also benefiting from the security and backing of the strong ratings of The Standard,” notes Scott Kaplan, assistant vice president of Institutional Products at The Standard.
According to the firm’s announcement, the APEX Series provides a conservative investment approach along with a full guarantee of principal and interest by Standard Insurance Company. The APEX Series consists of four different fund options designed to provide a guaranteed return of principal, along with competitive crediting rates and 100% liquidity for plan participants. Each fund is structured to offer varying rates of return based on its plan-level contract discontinuance provisions:
- APEX Guaranteed Fixed Interest Fund (4.45% net). Six book value (principal and accumulated interest) installment payments over a five-year period.
- APEX Capital Preservation Income Fund (4.2% net). Immediate payment at the lesser of book value (principal and accumulated interest) or market value lump sum (market value lump sum would never result in a payout less than principal) or elect to receive six book value installment payments over a five-year period.
- APEX Stable Asset Fund (3.9% net). Immediate payment at the lesser of book value (principal and accumulated interest) or market value lump sum (market value lump sum would never result in a payout less than principal plus interest accumulated at the 1% minimum interest rate guarantee) or elect to receive six book value installment payments over a five-year period.
- APEX Guaranteed Rate Stable Value Fund (3.55% net). Full book value (principal and accumulated interest) payment after a 12-month period.
“Stable value funds will continue to play an important role in retirement savings portfolios and we're excited to add the innovative APEX Series to our existing stable value portfolio to meet the needs of the current market environment,” adds Ken Waineo, senior director of Institutional Products at The Standard.
The APEX Series launched Jan. 1, 2023, and is available through defined contribution plans, as well as defined benefit, cash balance and other plans, depending on the fund. APEX Series may not be available in all states, the announcement further notes.
