The Stable Value Investment Association would not be able to do the work the association does without the generous support of our sponsors. SVIA is proud to be working in partnership with these companies. These companies commit not only financial resources, but also make available their expertise and leadership in shaping and carrying out the association’s mission to demonstrate stable value’s many contributions to building a strong, viable retirement savings and investment program that will provide financial security in retirement.
Board of Directors Meeting
January 22-23, 2024
Washington, DC
Spring Seminar & Board Meeting
April 29-May 1, 2024
The Conrad Hilton Orlando
Orlando, FL
Board of Directors Meeting
June 10-11, 2024
Washington, DC
Fall Forum & Annual Membership Meeting
October 14-16, 2024
Fairmont Georgetown
Washington, DC
Board of Directors Meeting
January 27-28, 2025
ã…¤Washington, DC
Spring Seminar & Board Meeting
April 14-16, 2025
The Ritz-Carlton New Orleans
New Orleans, LA
Board of Directors Meeting
June 16-17, 2025
Washington, DC
Fall Forum & Annual Membership Meeting
October 6-8, 2025
Fairmont Georgetown
Washington, DC
Board of Directors Meeting
January 26-27, 2026
Washington, DC
Spring Seminar & Board Meeting
April, 2026
Location
TBA
Board of Directors Meeting
June 22-23, 2026
Washington, DC
Fall Forum & Annual Membership Meeting
October 5-7, 2026
Fairmont Georgetown
Washington, DC
Board of Directors Meeting
January 25-27, 2027
ã…¤Washington, DC
Spring Seminar & Board Meeting
April, 2027
Location
TBA
Board of Directors Meeting
June 21-22, 2027
Washington, DC
Fall Forum & Annual Membership Meeting
October 4-6, 2027
Fairmont Georgetown
Washington, DC
Karen Chong-Wulff
Managing Vice President, Fixed Income
MissionSquare Retirement
Andrew Erman
Sr. Director, Risk Management
Transamerica Stable Value Solutions Inc.
Tashil Fakir
Head of SV Sales
JPMorgan Chase Bank, N.A.
Henry Kao
Senior Vice President
PIMCO
Michael Leonberger
Stable Value Portfolio Manager
Invesco
Lacey Lockward
Vice President, Stable Value
Prudential Financial
Tony Luna
Head of Stable Asset Management
T. Rowe Price
Maya Pillai
AVP, Head of Stable Value Wrap
Pacific Life
Yijing Robertson
Investment Manager
IBM Retirement Funds
Lucas Robustelli
Sales Director – Stable Value Markets
Metropolitan Life Insurance Company
Neena Saxena
Portfolio Manager
The Vanguard Group
Michael Sipper
Corporate Vice President
New York Life
Ben Soltsov
Vice President
GSAM Stable Value, LLC
Michael Swink
Investment Director
Virginia College Savings Plan
Keith Watson
Director – Pension Investments
Textron
Bryan White
Manager – Pension Investments
Raytheon Technologies
The second quarter of 2024 Stable Value Quarterly Characteristics Survey covers $856 billion in stable value assets.
From an economic perspective, there was significant progress in 2023 toward sustainably
lower inflation against the idiosyncratic volatility caused by the banking crisis, both in the U.S.
and abroad. The progress in fighting inflation and the lagged impacts of an elevated policy
rate, led the Fed to pause the tightening cycle after reaching the 5.25%-5.50% level. Elevated
yields kept pressure on depressed market to contract ratios but also provided the spark
for higher crediting rates (+50-60 basis points) in most products. As the probability of a soft
landing and a goldilocks outlook increased throughout the year, the stable value industry
was challenged by participant outflows that were attributed to robust equity returns.
Stable value is a core investment option in defined contribution plans. In fact, it has been a part of defined contribution plans for over 40 years. As of December 31, 2023, $882 billion was invested in stable value, which accounted for 10% of all defined contribution assets. Participants of all ages rely on stable value to help achieve their retirement goals.
Many have theorized about how stable value would perform in a rapidly rising interest rate environment. The rapid rise in short-term interest rates since March of 2022 is the largest increase in rates since the 1980s and provides data to test these theories. As anticipated, money market funds have provided more favorable rates in the short run. Even though stable value may lag for now, history shows, and we expect, that stable value crediting rates will more gradually adjust to the higher rate environment with minimal volatility along the way.
1800 Diagonal Road
Suite 600
Alexandria, VA 22314
Phone: (202) 873-9567
Mail: info@stablevalue.org
