Stable value has evolved significantly since the 2008 financial crisis. Investment guidelines are tighter, adding further protections to the asset class and making it more resistant to future market dislocations. Broader restrictions on transfers to competing funds are reducing the likelihood that short-term interest-rate arbitrage will harm long-term investors. Slightly higher fees reflect more thorough and accurate risk assessments for the asset class and are bring much-needed capacity to the marketplace. These new standards are creating a stronger and more sustainable asset class, better positioning plan sponsors and intermediaries to meet the long-term needs of their retirement plan participants.