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Despite a low interest-rate environment, 401(k) participants at New York Life Retirement Plan Services haven’t given up on stable value funds. In an analysis released Wednesday of its client base, the firm found half of all participants across its retirement platform have some of their 401(k) savings in a stable value investment.

“Gen Y has not experienced a positive market cycle during their professional careers, and Baby Boomers just watched a good portion of their retirement erode in rough market conditions,” Steven Dorval, managing director of retirement and investment strategy at New York Life Retirement Plan Services, said in a statement. “All participants require an investment option that will preserve principal and, at a minimum, keep up with inflation. These are among the reasons stable value continues to be a core savings option.”

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