VantageTrust Certificate of Deposit Accounts
| Rates Offered through Mar 30, 2010 | ||
| CD Account | Annual % Rate (APR) | Annual % Yield (APY) |
| 3 Year | 0.99% | 1.00% |
| 5 Year | 1.98% | 2.00% |
The VantageTrust Certificate of Deposit Accounts (CD Accounts) program consists of 1-, 3-, and 5-year CD Accounts that lock in fixed interest rates1 with no minimum opening investment or account balance requirements. CD Accounts are offered through Bank of America, N.A. ("Bank"), a member of the Federal Deposit Insurance Corporation ("FDIC"). CD Account assets are protected by FDIC insurance up to $250,000 per investor.2
CD Accounts can be purchased only through fund-to-fund transfers made during an "open investment window." During each open investment window period, amounts to be invested in CD Accounts will be held in an FDIC insured Money Market Deposit Account (MMDA) at the Bank and will earn the Bank's MMDA interest rate.3 After the close of each window, funds will be automatically invested into the appropriately termed CD Account. Please note that direct transfers from the VantageTrust PLUS Fund to any of the CD Accounts are prohibited.
Similar to other certificates of deposit, the CD Accounts have early withdrawal penalties if assets are withdrawn prior to the maturity date. However, if you need access to your CD Account assets for retirement distributions or other special circumstances such as disability, your withdrawals will not be subject to early withdrawal penalties.4
The addition of CD Accounts provides the security of FDIC insurance and a fixed interest rate to help investors build retirement security. For more information on CD Accounts, please contact an ICMA-RC Investor Services representative.
CD Accounts are not available in all plans. Contact Investor Services to determine if CD Accounts are available in your plan.
1CD Account interest rates are fixed during the term of the CD Account.
2FDIC coverage is reduced by any "retirement" account balances held directly with Bank of America, N.A.
3MMDA interest rates can vary daily during the open investment window.
4Please note that early withdrawal penalties apply to emergency and hardship withdrawals.