I am trying to find out what the "guaranteed interest rate" is for the stable value fund. I've contacted my HR department and asked them, and they directed me to Fidelity. Fidelity says they only have what the employer provides, which is essentially what I quoted above. When I contacted my HR again, they said they only have what Fidelity provides them (again, what is quoted above).Objective
The Prudential Fixed Income Fund (the "Fund") is a client-specific experience-rated fund for plans with large Stable Value assets that seeks to provide stable crediting rates, while ensuring the safety of invested assets.
Principal and accumulated interest are fully guaranteed by Prudential Retirement Insurance and Annuity Company (PRIAC). The guaranteed interest rate is announced in advance and is guaranteed for a one year period. A minimum rate will apply. Experience rated general account stable value product that provides client specific crediting rates. The Fund invests in a broadly diversified, fixed-income portfolio within PRIAC's general account. The portfolio is primarily invested in public bonds, commercial mortgages and private placement bonds.
This is the first time I've had a stable value fund offered in a 401k, so maybe I'm not asking the right questions. Does anyone have a suggestion of how I can obtain the "guaranteed interest rate" of this stable value fund? I'm interested in using the fund for a good portion of my bond allocation if it offers a decent rate.
Thanks in advance!