Voya Guaranteed Accumulation Account (Long-Term)

Product:  Voya Voluntary TDA


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Investment Detail

Strategy

The Voya Guaranteed Accumulation Account (GAA) is a fixed interest option available during the accumulation phase. You may defer amounts into the GAA with the guarantee that a given rate will be earned on deposits made during a specified period of time (deposit period) and for a specified duration. The long-term GAA offers guaranteed interest rates for specified periods of between three and ten years, guaranteeing both principal and interest if the assets remain invested for the full guaranteed term. Interest is credited using the new money method. Current guaranteed rates of interest are declared for each deposit period. These rates would apply to new money only and would not affect funds received during previous deposit periods.



Fixed Investment Option Features


Minimum rate of return:
3.00%
Guaranteed minimum interest rate is good for:
The guaranteed term, generally between three and ten years.
Interest rate as of January 1st of Current Year:
3.00%
How often the rate can change:
A new deposit period begins monthly, rates are fixed for guaranteed term.
Market Value Adjustment:
Amounts that are withdrawn or transferred prior to maturity may be subject to a market value adjustment (MVA) which may be higher or lower than the guaranteed rate. The MVA will be waived for the one-month period following the Maturity Date on which we have automatically reinvested the value on the maturity date, for distributions under certain systematic distribution options, when the withdrawal is equal to the minimum distribution amount required by the IRS Code, and for withdrawals or transfers made within 6 months of death. We also waive the MVA for certain withdrawals and transfers taken to purchase annuity payments under a life-contingent annuity option.
Restrictions that apply to this fixed account:
Withdrawals or transfers from the GAA are restricted during the remainder of a deposit period (generally one month) and the 90 days thereafter. Withdrawals out of the GAA prior to the end of a guaranteed term may be subject to early withdrawal charges in addition to the MVA.
How often funds can be transferred into fixed Option from other options within this product:
Unlimited.
How often funds can be transferred out of this fixed option into other options within this product:
Restricted during the remainder of a deposit period and 90 days thereafter, subject to an MVA.
Other Features:
At maturity, you can choose to transfer the amount held in the GAA to available variable investment options or to make a deposit into a new GAA term. If you do not choose one of these options, we will automatically move your assets into a GAA with a similar time horizon, i.e. long or short term, as the one which has matured.