Corebridge Financial Inc. of New York
4.3
based on complex data
Annuity Educator Rating
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American Pathway NY SolutionsMYG

The American Pathway NY SolutionsMYG is the guardian angel for your post-retirement financial security! A single premium tax-deferred fixed annuity with a multi-year guarantee may sound technical but rest assured, it simply ensures steady growth of your investment. Plus, the initial interest rate is guaranteed for 5, 6, or 7 years depending on the option you choose, giving you control over your savings.

This annuity also offers immediate interest crediting, giving your investment a head start. There's a guaranteed minimum interest rate too! The cherry on top? The US Life will make necessary IRS Required Minimum Distributions. This is your ticket to a worry-free retirement! Plus, you can start with a minimum single premium of $10,000. Investing in American Pathway means a safe journey to a secure future.

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American Pathway NY SolutionsMYG

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About Product

Premium Type
Single Premium
Fee withdrawal:
15%
Market Value Adjustment
Yes
Return Of Premium
No
Minimum Contribution
$25,000
Maximum Contribution
$2,000,000
Min Age Qualified
18
Max Age Qualified
85
Types Of Funds
Non-Qualified, IRA, Spousal IRA, IRA Rollover, IRA Transfer, IRA-Roth, and TSP
Launch Date
07/09/2012

MYGA Interest Rates

Term
Rate
Annual percentage yield (APY)
earned over the investment term
5 years 3%
6 years 4.15%
7 years 3.05%
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

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.

Year by Year Account Balance

Understand how your money will increase when invested in American Pathway NY SolutionsMYG.
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Riders

No Riders for American Pathway NY SolutionsMYG annuity.

Waivers

Death

Death Benefit available without withdrawal charge or MVA.

Terminal Illness

Withdrawal charges and any MVA decrease will be waived for one full or partial withdrawal if the owner is diagnosed with a terminal illness that is expected to result in death within one year.

Annuitization

Withdrawal Charge or MVA does not apply to annuitization.

Surrender Window

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. Additionally, RMDs which are based solely on this contract may be taken at any time after contract issue without charges or MVA.

Extended Care

Withdrawal charges and any MVA decrease will be waived if the owner is confined to a qualifying institution or extended care facility for 90 consecutive days or longer beginning after the second contract year

Company Founded: 1850
Excellent Rated Company
Corebridge Financial Inc. of New York
Company Ratings
4.2
  • A.M. Best A
  • Fitch A+
  • S&P A+
  • Moody's A2
  • Comdex 80
Assets: $25,988,879,942
New York

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