To make sure our investors understand the transition completely, we've provided this section.

This year, if you have a maturing GIC, you will receive a maturity letter in November that outlines all of your options, just as in past years.  Unless you instruct us otherwise, your maturing GIC will be converted at maturity to a new Stable Value Annuity Account or Stable Value IRA, as appropriate.  Regulations require that annuities and IRAs be held in separate accounts.

Each year you have another maturing GIC, you will receive a similar maturity letter in November.  Unless you instruct us otherwise, that maturing GIC will be converted at maturity and transferred into the same Stable Value Account(s) opened for you at the end of this year.

And if you are making ongoing contributions, instead of opening a new GIC each year as required before, your ongoing contributions go into the same Stable Value Account(s) you already have.  

Over time, you will end up with a single, ongoing Stable Value Annuity Account and/or a single, ongoing Stable Value IRA account, replacing all of the separately maturing GIC contracts you may have today.  Both account types offer the same advantages.  They’re simpler, easier, offer greater diversification and reduce your risk.

Please see the diagram below:

If you have any additional questions, please feel free to call the GEBA office at (301) 688-7912 or (800) 826-1126. Or you can email us at geba@geba.com.

Our Member Services Representatives are here to help you and answer any questions you have Monday - Friday, 7:30am - 4:30pm.


Click here to return to the Stable Value Account webpage.