What is the interest rate on my fixed annuity?
The amount of interest credited on your Thrivent Financial tax deferred fixed annuity contract will differ based on when you purchased the contract. If you purchased your contract before 1/1/95, interest is credited on a “portfolio average” basis. This means all account values are credited with the same rate, regardless of when the contract was issued and when premiums were paid. All values are commingled in one large asset base. The overall earned rate, or portfolio rate, of the asset base is used to determine the interest credited to your contract. For contracts issued on 1/1/95 or after, the credited rate for new business is set on a new money basis. What this means is that the initial credited rate on new business is based on the investment rate that is currently available in the market. Since the initial rate is set on new money basis, rates will vary between contracts depending on when the contract was issued. Thus, the new money rates will move with the rates available in the ec
