American Pathway NY SolutionsMYG
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Learn how an annuity can provide guaranteed income for life.
American Pathway SolutionsMYG Annuity - a single premium fixed annuity with multi-year guarantees (MYG).
If you’re interested in a conservative, flexible addition to your retirement savings, the American Pathway SolutionsMYG can help balance stability and choice with an opportunity to grow your annuity value over time – and convert it to income in the future.
Penalty-free Withdrawal Privilege
After one year from the contract date, you may take multiple penalty-free withdrawals (without charges or MVA adjustments) each year not exceeding 15% of the previous anniversary contract value. No withdrawal charge or market value adjustment will be imposed on a full or partial withdrawal made within the 30-day period following the end of the initial guaranteed rate period. After the 30 -day window expires, withdrawal charges will resume for any withdrawal in excess of penalty-free amounts through the seventh year.
Market Value Adjustment (MVA)
The MVA is an adjustment that can either increase or decrease the withdrawal amount depending on the current interest rate environment. When interest rates at the time of the withdrawal are higher than the level at the time the contract is issued, the MVA will result in a decrease. If interest rates are down, the MVA will increase the withdrawal amount.
MVA does not apply to withdrawals representing penalty-free withdrawal amounts, RMDs, annuitization or death benefit. An external index referenced in your contract is used to measure rates.
After the initial rate term expires, the MVA no longer applies.
Potential Benefits of American Pathway SolutionsMYG Annuity
Penalty-free Withdrawal Privilege
After one year from the contract date, you may take multiple penalty-free withdrawals (without charges or MVA adjustments) each year not exceeding 15% of the previous anniversary contract value. No withdrawal charge or market value adjustment will be imposed on a full or partial withdrawal made within the 30-day period following the end of the initial guaranteed rate period. After the 30 -day window expires, withdrawal charges will resume for any withdrawal in excess of penalty-free amounts through the seventh year.
Market Value Adjustment (MVA)
The MVA is an adjustment that can either increase or decrease the withdrawal amount depending on the current interest rate environment. When interest rates at the time of the withdrawal are higher than the level at the time the contract is issued, the MVA will result in a decrease. If interest rates are down, the MVA will increase the withdrawal amount.
MVA does not apply to withdrawals representing penalty-free withdrawal amounts, RMDs, annuitization or death benefit. An external index referenced in your contract is used to measure rates.
After the initial rate term expires, the MVA no longer applies.
Potential Benefits of American Pathway SolutionsMYG Annuity
Guaranteed Rate Periods
Help reduce uncertainty with the ability to earn a guaranteed initial interest rate for the term selected. Get started without any up-front sales charges or administrative fees.
Predictable Retirement Income
Choose an income option that provides a guaranteed income stream for life.
Systematic Withdrawals
Systematic withdrawals are allowed at any time after contract issue by making a written election. $100 minimum amount monthly, quarterly, semiannually or annually. Systematic withdrawals may be subject to withdrawal charges.
Note: TSP funds have to be rolled into an IRA.
Systematic Withdrawals
Systematic withdrawals are allowed at any time after contract issue by making a written election. $100 minimum amount monthly, quarterly, semiannually or annually. Systematic withdrawals may be subject to withdrawal charges.
Note: TSP funds have to be rolled into an IRA.
MYGA Interest Rates
| Term |
Rate
Annual percentage yield (APY)
earned over the investment term |
|---|---|
| 5 years | 3% |
| 6 years | 4.75% |
| 7 years | 3.05% |