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GIC |
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GIC
Guaranteed investment contract (GIC). A guaranteed investment contract, or GIC (pronounced gick), promises to preserve your principal and to provide a fixed rate of return when you begin to withdraw from the contract, typically after you retire. You can invest in a GIC through a salary reduction plan, such as a 401(k) or 403(b) sponsored by your employer, provided that investment option is offered. Because of their fixed rates, GICs are vulnerable to inflation. And you may have to pay a penalty if you decide to change from a GIC to a different investment. Insurance companies that offer GICs assume the risk that the rate they earn on their investments will outperform the rates they've guaranteed on the GICs. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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A $1 billion deal with the GIC Real Estate is set to catapult the nation's oldest student housing company into the leading position in the national college housing market. The first home was sold and Lake purchased the GIC because her mother wanted the grandson to have an education fund, Lake testified. Participants in defined contribution plans, when offered a choice of investment products, typically have chosen the book value GIC investment option. |
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