Interest paid varies with market conditions. There are no restrictions on transfers to other investment options within the plan or on withdrawals. The account has options for larger transfers or withdrawals at retirement or termination and at five-year intervals thereafter. ML guarantees that funds held in the account for five years or longer will be credited more interest than would be credited during that same period to the General Account. The funds are invested in mortgages, direct loans, and real estate.
Return varies with market conditions.
The investment return is the interest and it fluctuates with short-term market interest rates. The fund invests in short-term corporate and bank obligations maturing in one year or less. The fund invests in short-term debt obligations of corporations, banks, and the U.S. government. These securities are backed by mortgages and are subject to prepayment risk unlike other bonds with the full-faith backing of the U.S. government. Share price and return will fluctuate due to fluctuations in the markets and the fund manager's skill in allocating assets among the markets.