All three can offer predictable returns over a defined period. They differ in structure, taxation, liquidity, and who stands behind the guarantee.
MYGA
A Multi-Year Guaranteed Annuity (MYGA) is a type of fixed annuity issued by an insurance company. It typically guarantees a rate for a set term and includes a surrender period during that term. Interest grows tax-deferred until withdrawn.
CD
Certificates of deposit are bank products, often FDIC-insured within applicable limits. Interest is generally taxable each year as it is earned (unless held in a tax-advantaged account).
Treasuries
U.S. Treasury securities are backed by the federal government. Interest on Treasuries is exempt from state and local income tax — though for individuals in states without income tax (such as Florida), that state-tax advantage does not apply.
How to choose
Choosing among them depends on how long funds can remain allocated, how important tax deferral is, and how much flexibility you may need. For individuals not needing current income, tax deferral inside a MYGA may change long-term compounding math — but surrender rules matter.
If you are evaluating where conservative capital should sit within a broader retirement strategy, a structured review of time horizon, tax considerations, and liquidity needs can clarify the trade-offs.