If you have stable value investments on your mind, my conversation today with Debbie Vince & Ken Sommers of New York Life should address your questions or concerns. We start with Debbie providing some background on stable value investments, how they work and some pros and cons compared to other cash equivalent options in workplace retirement plans. Then we transition to Ken for his thoughts on the realities of managing stable value investments in an historic low interest rate environment. Great stuff, if we missed anything shoot me an email to feedback@401kfridays.com.
Disclosures:
The views and opinions expressed in this podcast are those of Debbie Vince and Ken Sommer as of [date podcast recorded] and are subject to change without notice. Any forward-looking statements may not come to pass.
The information provided in this podcast is general in nature and is provided solely for educational/informational purposes. It is not intended as investment advice nor as a solicitation for any specific investment.
Stable value investments seek capital preservation, but there can be no assurance that this goal will be achieved. Returns will fluctuate with changing interest rates and market conditions. A stable value fund is not a mutual fund. Money market funds are not guaranteed by the FDIC or any other government agency. They generally seek to preserve the value of an investment at $1.00 per share, but it is possible to lose money by investing in a money market fund. All investing involves risk, including the loss of principal.
Guest Bio
Kenneth Sommer is a Managing Director and Head of the Investment Grade Portfolio Management team of NYL Investors' Fixed Income Investors. He joined New York Life in 2005 and has over 17 years of investment experience. He is responsible for managing all multi-sector third-party fixed income portfolios, including retail mutual funds and institutional separate accounts. Previously, Mr. Sommer was a sector specialist overseeing all corporate bond execution for the Investment Grade Portfolio Management team. Prior to joining New York Life, he was an Investment Analyst at MetLife Investments. Mr. Sommer received a B.S. from Binghamton University and an M.B.A. from Fordham University.
Deborah Vince is a V.P of Sales for New York Life. Debbie joined New York Life in 2009, and has more than 22 years of experience in financial services, including 19 years in the retirement plan industry. In her current role, she is responsible for Stable Value investment business development in the Western region. Prior to joining New York Life, she was a Senior Vice President with National Retirement Partners (NRP) and worked as a Retirement Plan Consultant at 401k Advisors and helped launch Retirement Plan Advisory Group (RPAG). Debbie received a BS in Business Management from the University of Redlands. She maintains FINRA Series 6, 7, and 63 registrations and holds life and health licenses in all states. She is currently a board member for Su Casa – Ending Domestic Violence in Southern CA. In her free time she enjoys spending time with family, her dog Bodhi, cooking and travel.
401(k) Fridays Podcast Overview
Struggling with a fiduciary issue, looking for strategies to improve employee retirement outcomes or curious about the impact of current events on your retirement plan? We've had conversations with retirement industry leaders to address these and other relevant topics! You can easily explore over 200 prior on-demand audio interviews here. Don't forget to subscribe as we release a new episode each Friday!
Could Retirement Income be the hot topic of 2021? It was supposed to be the hot topic of 2020, then we got a little derailed. To chat through this with be today, I am excited to have Doug McIntoch, Vice President of Investment with Prudential Retirement. We go through all the stuff you would expect us to. What is retirement income, what are the employer attitudes, what are employee attitudes, what are the lingering concerns despite the new protections provided in the SECURE Act. We also delve into public policy, the legislative environment and where we go from here. I hope you get as much out of this as I did!
Guest Bio
Douglas S. McIntosh, Jr. is vice president of Investments for Prudential Retirement. In this role, Doug supports the investment product function, working across the enterprise to source best-in-class investment & guaranteed solutions for retirement investors on Prudential’s recordkeeping platform and beyond. His team also oversees third-party asset managers that deliver on the promise to help Americans retire with dignity.
Along with product development responsibilities, he works closely with the firm’s Regulatory and Legislative Affairs groups to promote understanding and use of investments and guaranteed outcome vehicles within DC plans. This work has taken him to the Department of Labor and both houses of Congress, and he is a frequent speaker at industry conferences (eg Institutional Investor, Pensions & Investments, SPARK).
Prior to his current role, Doug held the position of vice president, Investments within Prudential Annuities, in which he led all aspects of sales support and strategic direction for that division’s investment platform. Doug previously held the position of vice president, Distribution for Prudential International Investments, creating custom principle-protected and lifelong income products for the world’s largest asset aggregators. Earlier in his career in the United States, Doug held the role of vice president, Distribution for Prudential IncomeFlex within Prudential Retirement.
Prior to working for Prudential Retirement, Doug was Director, International Sales for Mentor Ophthalmics, a specialty medical manufacturer, where he ran distribution in Europe, Asia and Latin America. This work was an outgrowth of his time working hands-on with patients in a large, international vitreoretinal medical and surgical practice (Retina Associates). As a result, he sat in on ophthalmic surgeries on six continents (if we include Australia). Direct interaction with patients and practitioners, in both the office and surgical suite, gave Doug a deep understanding of ocular anatomy, pathology and surgical technique, an interest which he maintains until the present.
Doug holds an MBA with Distinction in International Management & Finance from Cornell University, and received a B.A. in English & Communications from Fairfield University. Doug is currently a board member of both the Connecticut Secure Retirement Authority Board, and the Center for Latino Progress, and was formerly the chairman of the Pension Board for the Town of West Hartford CT. He speaks Spanish, French and Italian in addition to English, plus a little Portuguese.
401(k) Fridays Podcast Overview
Struggling with a fiduciary issue, looking for strategies to improve employee retirement outcomes or curious about the impact of current events on your retirement plan? We've had conversations with retirement industry leaders to address these and other relevant topics! You can easily explore over 200 prior on-demand audio interviews here. Don't forget to subscribe as we release a new episode each Friday!