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gerryborn

New Aig Valic 403b Plan

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After reading that article about AIG Valic's new improved 403b offering, I have yet to come across any more inforamtion about the product. There is nothing about it at their website, or have I missed something? Will this plan be offered as a 457 plan option too? If you have any info or links, please post it. It is amazing to me that AIG Valic is not advertising this new improved plan.

 

Gerry Born

LaGrange, GA

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After reading that article about AIG Valic's new improved 403b offering, I have yet to come across any more inforamtion about the product. There is nothing about it at their website, or have I missed something? Will this plan be offered as a 457 plan option too? If you have any info or links, please post it. It is amazing to me that AIG Valic is not advertising this new improved plan.

 

Gerry Born

LaGrange, GA

Let me see now isn't that the same AIG Ins. co., Valics' parent, that

Elliot Spitzer sued and won a multi-million $ judgment from? It was for underhanded TSA investment sales practices! They paid it too! This company stinks and they have been active in our teachers lounges and staff meetings here also.

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Guest Sierra

After reading that article about AIG Valic's new improved 403b offering, I have yet to come across any more inforamtion about the product. There is nothing about it at their website, or have I missed something? Will this plan be offered as a 457 plan option too? If you have any info or links, please post it. It is amazing to me that AIG Valic is not advertising this new improved plan.

 

Gerry Born

LaGrange, GA

Let me see now isn't that the same AIG Ins. co., Valics' parent, that

Elliot Spitzer sued and won a multi-million $ judgment from? It was for underhanded TSA investment sales practices! They paid it too! This company stinks and they have been active in our teachers lounges and staff meetings here also.

For the record Eliot Spitzer sued NYSUT and ING.

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If you go to the Profile Retirement Program information, it refers you to two prospectuses:

 

 

"Specific fees and charges are described in more detail in the VALIC Company I and VALIC Company II underlying prospectuses."

 

Other than that, I have not heard anything else and the VALIC rep in my district said he couldn't tell me anything until they get clearance to sell the product locally.

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Guest Skeptical

I'm guessing that the platform will be similiar to Citistreet. A no-load fund program with lots of opportunity for AIG to make money:

 

1. A managed account service with a big fee for a plain vanilla asset allocation (like Citistreet's CHART)

2. Hefty revenue sharing deals with the funds selected (a mostly pay to play scenario)

3. Supplemental insurance and other product sales by so-called "Retirement Advisors" under the guise of education and service.

 

Just speculation on my part but watch and see. This will still be a lousy, lousy deal that will sound good and many will adopt.

 

Jim

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