Scare tactics (hey school official, we'll take care of you on the new regs) or good business acumen (hey school official, we'll take care of you on the new regs)? AIG-Valic PlanSponsor Roundtable on New Regs According to this they have $19 billion in 403(b) money under management and over 530,000 participants! What's $19 billion multiplied by 2% in fees? I sure hope school business officials know the answer! And I sure hope they know superb mutual fund companies can be found charging 0.5% or less!