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DISCONTINUED PRODUCT - Product not available to new enrollees.

Symetra Daily Value Fixed Account
Product ID: 152

Vendor:
PlanMember Services Corp
Type:
Fixed Annuity 
Discontinued Discontinued


1.5%
None
None
No
Roth Eligible





The Symetra Daily Value Fixed Account is a group unallocated annuity contract that is designed for the participant who has concerns about asset protection. Interest rates will never fall below an annualized rate of 1.5%. It can be utilized independently or in conjunction with other PlanMember Services programs, as a complement to a mutual fund platform in lieu of a money market. (Must be approved by your employer).

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Required Minimum Distributions (RMD) must begin no later than April 1 following the later of the year in which the Contract Owner attains age 70 1/2 or retires from service with the employer sponsoring the TSA (this is referred to as the Required Beginning Date). Minimum distributions will automatically commence no later than the Required Beginning Date previously mentioned unless you send written notice to Symetra Life that the minimum distributions for this contract will be taken from another TSA. If we have not received written notice prior to March 1 following the year in which you attained age 70 1/2, Symetra will make the required distributions based on factors outlined in the contract.

Yes
Symetra will make monthly payments for the lifetime of the Annuitant and joint Annuitant. Payments are guaranteed for the life of both Annuitants and remain unchanged for the primary Annuitant's lifetime. If the joint Annuitant survives the primary Annuitant, payments will continue for the joint Annuitant's lifetime at a specified percentage selected at the time of annuitization. No death benefits are paid after both Annuitants are deceased.
Symetra will make monthly payments for the lifetime of the Annuitant. No death benefit is payable under this option.
Symetra will make monthly payments for the longer of the Annuitant's life or the guaranteed number of months. The number of payments guaranteed will not be less than 60 (5 years). If the Annuitant dies before the guaranteed number of payments have been made, the remaining payments will be made to the named Beneficiary. The written request for this option must name the Beneficiary and the number of years guaranteed and must be approved by Symetra Life.
Guarantees specified periodic income payments throughout the lifetime of the Annuitant— and guarantees that a refund will be made if the Annuitant dies before the total of the periodic payments made equals the amount paid for the annuity.
The Contract Owner may surrender his/her contract at any time after it is issued.
Payouts are made to the insured during his or her lifetime or to his or her beneficiary according to the terms of a guarantee provision. If the insured dies within a certain time period after starting to receive income, usually 10 or 20 years, the insured’s beneficiary will receive regular payments for the balance of the period.
These rates may change without notice. Contact your provider for the most current rates.



All 403(b) products contain fees. The amount of fees varies greatly depending on the product. A slight increase in fees can substantially reduce the growth in your account which will reduce your income in retirement. To learn more about the impact of fees, and the different types of fees please refer to the Explanation of Fees piece located in the Help & Resources.


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