When seeking the best annuities, youll want to first get clear about your goals. Like traditional fixed annuities, MYGAs are subject to fees called surrender charges, which an annuity holder must pay if he or she withdraws money from an annuity before the specified time period is over. The interest rate is an effective annual yield based upon a nominal rate which is compounded daily. "How MassMutual Was Born Back in 1851. APA Its important to know that money you withdraw before the 10th year of your annuity will be subject to a fee of up to 8%, depending on the contract year. Gone, she said, were the double-digit rates that had been available at the turn of the century. The interest rate is set when you purchase your annuity and is guaranteed for one year. "Premier Plus Variable Annuity II - New York Life Insurance. Surrender charges may be imposed if annuity owners prematurely cancel their retirement plans. However, if you are looking for a safe and stable investment option, fixed annuities may be the right choice. This estimate does not constitute a binding agreement between you and Annuity.org or its partners. For most jurisdictions, the policy form number for the Guaranteed Lifetime Income Annuity II is ICC11-P103; it may be 211-P103, and state variations may apply. Industry expert Sheryl J. Moore wrote in a January 2019 blog post that fixed annuity sales had declined over the past decade, along with rates. The latest renewed rate can increase, decrease, or stay the same as the initial rate. The insurance product offers access to your money without penalties. Best Fixed Annuity Rates The best MYGA rate is 4.80% for a 10-year surrender period, 4.99% for a seven-year surrender period, 4.90% for a five-year surrender period, 4.20% for a three- Clarify mathematic question However, there are several 2-year fixed annuity rates available. To qualify for the new New York Life Fixed Annuity rates, if rates increase: Paperwork MUST be signed and dated ON OR AFTER the date of change. Therefore, all funds withdrawn from these contracts will be tax-free. Interest rates are often closer to long-term bonds than short-term money markets or CDs. That's a 1.21% higher return. What is the average interest rate on an annuity? Silvestrini, E. (2023, February 23). Please call your representative for current rates on premium amounts of $1,500,000 or more. Its Lifetime Only option guarantees income for life, and payments stop when you die because there is no beneficiary with this plan, thus offering higher regular income payments. Request a quote from our fixed annuity calculator today to see how much interest you could earn with fixed annuities! Available in all jurisdictions except for Guam. Indexed annuities were developed and introduced in 1995 as a CD type product. You can find out more about our use, change your default settings, and withdraw your consent at any time with effect for the future by visiting Cookies Settings, which can also be found in the footer of the site. Russell 2000Price Return Index (Russell 2000)9, FLAT RATE Will it be income generation? The insurance company can quote you a price in terms of a payout rate or a monthly income dollar amount, but they are ultimately the same thing. Summers, J. New York Life Secure Term Fixed Annuity V. Rates are effective as of {date} and are subject to change at any time. *These figures are effective as of {date} and are subject to change at any time. 212-576-7000. Fixed income annuities may help you to plan for the lifestyle you've worked hard to achieve, knowing that you will have a source of income that will last throughout retirement. That said, its important to keep in mind that these rates are for fixed annuities and do not reflect earnings (or loss) in a variable or equity-indexed annuity. You would take that $120,000 purchase and split it evenly between 3-year, 5-year, and 7-year fixed annuities. Annuities are long-term products designed for retirement. But fixed annuities can underperform variable annuities long-term. Throughout her professional career, Emily has covered education, government, health care, crime and breaking news for media organizations in Florida, Washington, D.C. and Texas. Other conditions may apply; see Fidelity.com/commissions for details. Variable, income, and fixed index annuities are more complicated. The Income Base is a value upon which the lifetime withdrawal benefit amount is calculated. All guarantees are dependent upon the claims-paying ability of NYLIAC. This can be perplexing to the average consumer. Withdrawals greater than the GLWB amount during the first 7 years of the policy may be subject to surrender charges. Well also compare todays guaranteed fixed annuity rates so you can start putting your retirement money to work. ", A.M. Best. ", New York Life. "A.M. Best Affirms Ratings of USAA. Current annual return rates range between 1% and 2%, but there is a rider option that elevates your payments by 3% every year. In addition, these annuity products accumulate interest tax-free until withdrawn as income. Annuities are long-term financial products used for retirement purposes. Build brilliant future aspects. ", Jon Summers, At The Annuity Expert, we are licensed financial professionals who can help you secure a fixed annuity. Withdrawals allowed up to 10% of the account value, Possibility of high returns, depending on market conditions, Minimum premium is $2,500 for qualified accounts, Annual fees in addition to surrender charges. Based on the life with cash refund option for a policy purchased by a male annuitant with $100,000. Turn your future payments into cash you can use right now. Many carriers offer penalty-free withdrawal provisions that allow the annuity holder to make partial withdrawals before the surrender period ends without incurring fees. 6 For a five-year, it's 2.80%, and for a 10-year annuity, it's 2.70%. Russell is a trademark of the relevant LSE Group company and is/are used by any other LSE Group company under license. ", USAA. Rates are effective {date} and are subject to change at any time. However, you will be charged a 2.5% sales commission up front. 60), Paperwork MUST be signed and dated ON OR AFTER the date of change. The payout phase can last for several years or until the owner dies. Rates are provided for conceptual and educational purposes only. "American National Property and Casualty Company. Fixed annuities, by contrast, offer guaranteed rates of return. New York Life Clear Income Advantage Fixed Annuity3. A client can now get a fixed rate, currently 4. The new rates are called renewal rates. Allianz has since grown to become a leading provider of retirement and protection solutions both locally and internationally. Youll pay ordinary tax when you withdraw, receive an income stream, or receive each annuity payment. Fixed annuities do not charge annual fees in the traditional sense but reduce the guaranteed interest rate for a feature or benefit. Email with Annuity.org. 60). The insurance company guarantees that the account will earn a specific interest rate for a specified period. The first is a Multi-Year Guarantee Annuity (MYGA). "Annuity Rates." Please refer to the product prospectus for more information. Refer to the New York Life Secure Term MVA II Features and Benefits section or the Examples and Explanation Flyer for more information. Selling My Structured Settlement Payments, difference between fixed annuities and CDs. An 8.3 Percent Return on Your Money, Guaranteed for Life? You dont have to take a medical examination in some cases. Your annuity rate is the percentage by which your annuity grows each year. Annuity rates are tricky to compare because traditional fixed annuities guarantee an interest rate for a one-year term, whereas other fixed annuities guarantee rates for anywhere from three to 10 years. You'll find Fixed Index Annuity Rates here if you'd like to look at them instead. https://www.planadviser.com/exclusives/refresher-annuity-pricing-mechanics/, https://money.usnews.com/banking/articles/fixed-annuities-are-an-option-over-cds, https://www.winkintel.com/2017/04/rising-interest-rates-mean-annuities/, https://www.pbs.org/newshour/economy/an-83-percent-return-on-your-m, https://budgeting.thenest.com/calculate-rate-return-annuities-28802.html, https://www.winkintel.com/2019/06/annuity-rates-no-reason-to-get-psyched-out-reprint/, https://www.mdmag.com/physicians-money-digest/personal-finance/annuities-beat-cds-by-offering-higher-guaranteed-rates-and-tax-savings, https://www.thinkadvisor.com/2019/02/25/why-that-myga-rate-is-so-hot/, https://www.advisorperspectives.com/articles/2017/07/31/what-advisors-need-to-know-about-annuity-mortality-credits, https://www.prnewswire.com/news-releases/renowned-economist-roger-ibbotson-unveils-new-research-indicating-fixed-indexed-annuities-may-outperform-bonds-over-the-next-decade-300609670.html. . Improve your theoretical performance If you want to improve your theoretical performance, you need to put in the work. When interest rates rise, the returns on these bonds go up. At the end of the initial interest rate guarantee period, the policy will receive a new renewal rate each anniversary that is based on the accumulation value. A MYGA can be particularly useful for anyone uncomfortable with the greater risk presented by equity investments. "American National Subsidiaries. In other words, take some risks, as you have the . Consider a Fixed Annuity. Income annuities (FIAs and DIAs) are typically quoted using either the monthly income payment amount or an annual payout rate that represents the percentage of the premium amount that the annuitant has received in income payments. Renowned Economist Roger Ibbotson Unveils New Dowd, C. (2017, April 13). You can see our full list of MYGAs and their rates on the tables above. Is your fixed annuity interest rate really fixed, or can it decrease over time? . American National Palladium MYG Annuity 10 is a great option, no matter what premium level you choose. The best annuity providers offer multiple plan options with convenient online and in-person advisory services, dependable return rates, lower fees than their competitors, minimum investment requirements achievable by a broad range of people, stellar customer satisfaction ratings, and a sound financial reputation. Annuities are long-term, tax-deferred vehicles designed for retirement. The S&P 500 Index includes 500 large cap stocks from leading companies in leading industries of the U.S. economy, capturing approximately 80% coverage of U.S. equities. int(1) . The New York Life IndexFlex Variable AnnuityFP Series (IndexFlex) has been developed solely by New York Life. Both NYLIAC and NYLIFE Distributors LLC are wholly owned subsidiaries of New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010. Find your rate Get in touch Open an annuity 800-544-4702 Questions about an existing annuity? Hussein, R. (2019, November 19). 6. You can opt for the lifetime-only plan, where youll have income for life, and payment stops when you die. Today's Best Annuity Rates 5.00% 2-Year 5.50% 3-Year 5.40% 5-Year 5.45% 7-Year 5.45% 10-Year Buy an Annuity Written By Elaine Silvestrini Edited By Emily Miller Financially Reviewed By Thomas J. Brock, CFA, CPA Updated: February 20, 2023 You may also pay a 10% tax penalty if you withdraw any annuity payments before age 59. Please call your representative for current interest rates on premium amounts of $1,500,000 or more. Annuity rates SecureFore fixed annuity Income 150+ SE fixed index annuity ForeStructured Growth RILA ForeAccumulation II fixed index annuity Consumers who purchase annuities, she wrote, can sleep soundly at night, not having to worry about losing principal due to market volatility. As of February 28, 2023, Aspida offers a 5.50% fixed annuity rate for a 7-year term, one of the best currently available deals with an A- rated insurance company. Their guaranteed interest rates make them easy to understand when it comes to interest rates and the return they can provide over the course of the contract term. Today's Top Ten Fixed Annuity Rates (MYGA) ALL rates are continually subject to change and accuracy is never guaranteed since rates and features change frequently. ", A.M. Best. Math Formulas . Advisor Account Access Talk to a specialist Call 1-877-245-0761 for sales or 1-800-848-6331 for service Fixed annuities let you save for retirement with: A tax deferral on earnings All guarantees are dependent upon the claims-paying ability of NYLIAC. (2018, January 5). Payout amounts for female applicants, who have longer life expectancies, are lower. In the state of MT, payout amounts do not differentiate male and female life expectancies. "AM Best Affirms Credit Ratings of Massachusetts Mutual Life. "Allianz Life Insurance Company of North America. Their low minimum premium and flexible withdrawal structure mean that your money stays accessible to you, earning our vote for the best variable annuity. Your money will never earn less than the guaranteed minimum interest rate, Limited growth; you may not earn as much as investing in the stock market. The policy form number for the New York Life Secure Term Choice Fixed Annuity II is ICC10-P114 in most jurisdictions; in some states, it may be 211-P114, and state variations may apply. Tax-deferred accumulation makes single premium deferred annuities (SPDAs) more attractive than other investments, such as CDs or mutual funds, subject to current income and capital gains taxation. Use ourannuity calculatorto estimate how much-guaranteed income you can generate now or in the future. Starting at $5,000, you will earn a guaranteed 4.65% annual yield, while putting in over $100,000 will get you 4.75%. 2. Russell 2000Price Return Index (Russell 2000)4, FLAT RATE For a five-year, its 5.40%, and for a 10-year annuity, its 5.15%. In exchange, you receive tax-deferred growth based on a variable or fixed rate of return, and regular payments from the annuity when you're ready to retire. Clients should read the prospectuses carefully before investing or sending money. Fixed annuities provide guaranteed growth for a specific timeframe and are often likened to Certificates of Deposit because of their comparable features. The best annuity rate for a three-year annuity is 4.85%, according to Annuity.orgs online rate database. "Fidelity Personal Retirement Annuity. Available in jurisdictions where approved. The company manages over $235 billion in customer assets annually, so there are of course a few complaints to be found, but these are a very small proportion compared to the total customer base. Virginia: Retirement Researcher Media, 2019. When the initial annuity rate period ends, the insurance company will set a new interest rate for the next rate period. NYLIFE Distributors LLC, Member FINRA/SIPC, is the wholesale distributor and underwriter for these products. That's a 1.21% higher return. Financial Services, The rate varies. The Russell 2000 Index represents approximately 10% of the total market capitalization of the Russell 3000 Index. Rates may differ from a 2-year fixed rate annuity to a 7-year fixed rate annuity. Close Pop-up. Browse weekly annuity rates from New York Life and review rates from the past four weeks. The Russell 2000 Index does not include dividends declared by any of the companies in the Index. That crediting rate will not be less than the guaranteed minimum interest rate (GMIR) stated in the policy. For this reason, she said, some advisors had shied away from recommending annuities. Finally, you can design a blend of both. Fixed annuities can help you accumulate funds for retirement without exposing your hard-earned money to market risk. Rates of return range from. a Rate effective March 2, 2023. An annual payout rate is the percentage of the premium an annuity holder will receive each year as income. The second option is a Fixed Indexed Annuity (FIA). The providers that made it to our top six had solid, proven, trustworthy reputations; lower fees than most; and a suite of annuity options that met a wide range of financial entry points. What Are the Biggest Disadvantages of Annuities? 1. If youre looking to take advantage of the market, a variable annuity through New York Life is for you. ", New York Life. The Best Fixed Annuity Rates For Each Term 7 yrs, Sentinel Security Life, B++, 5.65% 8 yrs, Clear Spring Life, A-, 5.00%. New York Life Secure Term MVA Fixed Annuity II7. The best age to buy an immediate annuity, or one that pays income as soon as you buy it, is between age 70 and 75. The Best Annuity Rates For January 2023 The best MYGA rate is 4.80% for a 10-year surrender period, 4.99% for a seven-year surrender period, 4.90% for a five-year surrender period, 4.20% for a three- Obtain Help with Homework After the initial guaranteed interest rate period, the policy will receive a new renewal interest rate that is guaranteed for one year which will never be less than your GMIR as stated in your policy. All guarantees, including the guaranteed minimum interest rate, are backed by the issuer, New York Life Insurance and Annuity Corporation (NYLIAC). All guarantees, including death benefit payments, are dependent on the claims-paying ability of NYLIAC and do not apply to the investment performance or safety of the underlying variable Investment Divisions, as they are subject to market risks and will fluctuate in value. For transfers/exchanges, paperwork MUST be signed and dated ON OR AFTER the date of change. Multi-year guaranteed annuities, or MYGAs, are a type of fixed annuity that guarantees a fixed interest rate for a specified time period usually three to 10 years. Variable annuities, by contrast, pay a rate that varies according to the. Rates are subject to change to any time. "Largest 25 U.S. Mutual Insurers 2020. ", New York Life. Our objective is to deliver the most comprehensive explanation of annuities and financial literacy topics using plain, straightforward language. If you are interested in learning more about buying or selling annuities, call us at 877-918-7024. "Annual Report to Members 2020 - USAA. A $250 maximum applies to all trades, reduced to a $50 maximum for bonds maturing in one year or less. Fixed annuity rates are set by the providers typically insurance companies that issue the contracts. Guaranteed interest earning for a set period without market risk. Compared to other annuity companies, this is the best . Annuity and Insurance Agency1050 Crown Pointe ParkwayAtlanta, GA 30338, AnnuitiesLife InsuranceTravel InsuranceLong Term Care InsuranceShop InsuranceGet a Free QuoteContact Us, About usPrivacy PolicyHow We WorkIn The PressCustomer Reviews. Annuity interest rates are at the lowest in 10 years. Annuities: How to Find the Right One for You, American National Palladium MYG 10 Annuity, Fidelity Investments History: Founding, Timeline, and Milestones, Quarterly Updates Q3 2022 - Fidelity Investments, American Fidelity Assurance Company - AM Best Rating, New York Life Premier Variable AnnuityP Series With Investment Preservation RiderP Series, Allianz Life Insurance Company of North America, Five Things to Know About the Founding of New York Life, Variable Annuity Comparison Chart - New York Life Insurance, Premier Plus Variable Annuity II - New York Life Insurance, Annuity FAQs (Frequently Asked Questions) - USAA, Single Premium Immediate Annuity SPIA - USAA, AM Best Affirms Credit Ratings of Massachusetts Mutual Life, Insurance Ratings & Financial Strength - MassMutual, American National Property and Casualty Company, American National Group, Inc. - Form 10-K, Initial investments of less than $1 million: Annual fee of 0.25% (+ Fund Fees); Initial investments of $1 million and above: Annual fee of 0.10% (+ Fund Fees), Personal Retirement Annuity, Variable Annuity, Deferred Fixed Annuity, Deferred Income Annuity, Clear Income Fixed Annuity, Immediate Fixed Income Annuity, Core Income 7 Annuity $10,000 minimum premium: 1.25% rider charge; Allianz Index Advantage Variable Annuity $10,000 minimum premium: 1.25% annual fee (+ 0.64%-0.72% variable option annual fee and 0.20% death benefit rider fee), Fixed Index Annuities, Index Variable Annuities, Insurance Company, Financial Services Firm, Annual fee: $30 to $40 (waived at $100,000); Mortality and Expense fee: 1.20% to 1.60% (depending on premium payments and account value); Surrender charges: 1% to 8% (applies to withdrawals beyond the surrender charge-free withdrawal amount, calculated based on date of premium payment), Fixed Deferred Annuities, Variable Annuities, Annual fee: $0.00; Surrender charges for early withdrawals, Lifetime and a Guaranteed Period of Time, Guaranteed Period of Time, Lifetime Only, 1.67%-2.77% plus surrender charges in years 1-9, Deferred Fixed Annuity, Variable Annuity, Fixed Index Annuity, Immediate Income Annuity, Deferred Income Annuity, 2.5% upfront charge, plus surrender charges in years 1-9, High-Band ($250,000-$1,000,000), Mid-Band ($100,000-$249,999), Low-Band ($5,000-$99,999), Fidelity Personal Retirement Annuity: $10,000+ investment, New York Life Premier Variable Annuity-P Series with Investment Preservation Rider-P Series: $25,000+ investment, Deferred fixed annuities: $5,000+ investment, Deferred income annuities: $10,000+ investment, New York Life Clear Income Fixed Annuity-FP Series: $50,000+ minimum, Immediate fixed income annuities: $10,000+ minimum, Allianz Benefit Control Annuity: $20,000+ investment, Core Income 7 Annuity with Core Income Benefit Rider: $10,000+ investment, Allianz 360 Annuity with the 360 Benefit Rider: $20,000+ investment, Essential Income 7 Annuity with Essential Income Benefit: $10,000+ investment, Retirement Foundation ADV Annuity with Income Benefit Rider: $10,000+ investment, Allianz Accumulation Advantage Annuity: $20,000+ investment, Fixed Guaranteed Growth Annuity (a deferred annuity): $20,000 to $50,000, Single Premium Immediate Annuity: No minimum, Annuity distributors, including large brokerage firms known as wirehouses, such as Merrill Lynch and Morgan Stanley, Independent broker-dealers like Raymond James, Mutual fund companies like Vanguard and Fidelity, which are considered some of the most competitive companies because they offer lower fees, Thousands of independent agents, brokers, and financial advisors across the country. The New York Life Clear Income Advantage Fixed AnnuityFP Series, a fixed deferred annuity with a Guaranteed Lifetime Withdrawal Benefit (GLWB) Rider, is issued by New York Life Insurance and Annuity Corporation (NYLIAC) (A Delaware Corporation), a wholly owned subsidiary of New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010. Typically, an annuity company will give you a particular rate up front on a fixed annuity, and then decrease that rate over time (typically after one year). (2017, July 21). It combines no annual contract fees with a low minimum initial premium, and centuries-old financial stability. Term length . The foregoing trademarks have been licensed for use by S&P Dow Jones Indices LLC and sublicensed for certain purposes by New York Life. It's essential to shop both if you want to maximize the highest returns. Fixed and variable annuities can distribute guaranteed income payments from your retirement savings plan for the rest of your life. Best Fixed Annuity Rates. If you're interested in buying an annuity, a representative will provide you with a free, no-obligation quote. Allianz sets itself apart as our choice for best fixed indexed annuity with its two income bonuses. As its name suggests, a variable annuity delivers a return that changes from year to year. Applications MUST be signed and dated prior to the date of change. Access client accounts, illustrations and more. These payout rates, which include both interest and return principal. Variable annuities are subject to market risk including possible loss of principal. ", U.S. Securities and Exchange Commission. Withdraw up to 10% of your account value without any penalties assuming you are over 59 1/2 years of age. Because missing important news and updates could cost you. Income annuities and deferred annuities are issued by New York Life Insurance and Annuity Corporation (a Delaware Corporation), 51 Madison Avenue, New York, NY 10010. NYLIFE Distributors LLC, Member FINRA/SIPC, is the wholesale distributor and underwriter for these products. Learn more about New York Life Annuities. The top rate for a three-year annuity is 2.25%, according to Annuity. Multi-Year Guarantee Annuities (MYGA) Annuity Rates & Quotes > Multi-Year Guarantee Annuities (MYGA) Also known as fixed-rate or CD-type annuities, Multi-Year Guarantee Annuities (MYGA) provide a predetermined and contractually guaranteed interest rate for a set period of time, typically 3-10 years. How renewal rates are the secret sauce, the secret formula, the secret to fixed indexed annuities. Withdrawal charge waivers forlong-term care expenses. 15/10 a must have No ads btw, absolutely fantastic, as a student, it can be hard to learn sometimes when you can't check your answers to see if you are right. A fixed-indexed annuity is a type of fixed annuity that earns interest based on the performance of a stock markets index such as the S&P 500 and Nasdaq. Available in jurisdictions where approved. Policies with premium amounts of $1 million or more require prior NYLIAC approval. Collecting these payments begins the payout phase. It is most similar to a Certificate of Deposit (CD) that is offered by a bank or other-FDIC insured institution, except that it is offered by an insurance company. Multi-Year Guarantee Fixed Annuities differ from "banded rate" fixed annuities, which may offer a guaranteed interest rate for the first year only and then a renewal rate that can vary - e.g. Running out of money in retirement is a concern for many Americans. (Percent of Income Base that determines your guaranteed income payments), MVA LIFETIME WITHDRAWAL RATE In most jurisdictions, the rider form number for the Guaranteed Lifetime Withdrawal Benefit Rider is ICC22D-R01; in some states,it may be NC22D-R01, and state variations may apply. Our best multi-year guaranteed annuity, American National Palladium MYG 10 Annuity, has excellent rates with a low minimum premium of only $5,000. Refresher on Annuity Pricing Mechanics. The interest rate is an effective annual yield based upon a nominal rate which is compounded daily. Please call your representative for current interest rates on premium amounts of $1,500,000 or more. This option guarantees the interest rate cap to be locked in and remain constant for the entire surrender change period, then subject to change annually thereafter. If you have additional money to set aside for retirement, an annuity's tax-free growth may make senseespecially if you are in a high-income tax bracket. A fixed annuity, also known as a multi-year guaranteed annuity (MYGA), provides a guaranteed rate of return for a predetermined period of time. Since 1845, the company has been protecting and growing assets. This period is known as the accumulation phase. "How Retirement Foundation ADV Works. This guide will review the fundamentals of fixed annuities and what you need to know before investing in one. New York Life Secure Term Choice Fixed Annuity II. Reliable income in your retirement years? For transfers/exchanges , applications MUST be signed and dated PRIOR to the date of change. These include white papers, government data, original reporting, and interviews with industry experts. ", Allianz. 1. This material is being provided for informational purposes only, and was not prepared, and is not intended, to address the needs, circumstances and objectives of any of individual or groups of individuals. The interest rate is usually higher than what you would get from a savings account like a CD. For Safe Haven, the company's fixed annuity rate stood at 5.53% for the three-year option and 5.35% for the 10-year option as of January 2023. After 30 years, the return will be approximately 3 percent, and this will increase with every payment. With practical experience running his own IT business and an education in the liberal arts, Matthew Klammer had become well-accustomed to the difficulties of research. Offer Disclosure. Our expert reviewers review our articles and recommend changes to ensure we are upholding our high standards for accuracy and professionalism. Multi-year guarantee annuity: $10,000: Annuity Type Multi-year guarantee annuity Minimum Initial Premium $10,000 : Athene Protector . org's online rate database. Sorry, an error was encountered loading the data. (2019, June 25). Use knowledge and skills to manage financial resources effectively for a lifetime of financial well-being. The Guaranteed Minimum Interest Rate (GMIR) is 0.05% (except in New York where it is 1%). He currently oversees the investment operation for a $4 billion super-regional insurance carrier.