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Products October 1, 2007
AIG Offers 30 No-Load Mutual Funds to 403(b) Plans
October 1, 2007 (PLANSPONSOR.com) - AIG VALIC is
launching a no-load mutual fund retirement savings program
for the K-12 403(b) market, which includes index, lifecycle
and actively managed funds.
Reported by Adrien Martin
According to a press release, the Profile Retirement Program offers more than 30 no-load mutual funds covering all major equity and fixed-income asset classes. The active funds are managed by firms that include American Century, T. Rowe Price, Oppenheimer, BlackRock and Wellington Management.
Expense ratios for the funds range from .35% to 1.17% and average 0.8%, the announcement said.
The offering also includes telephone enrollment and Web-based account management tools, along with support services and investment advice available from AIG VALIC’s Client Care Center and Retirement Education Center.
AIG VALIC also acts as custodian for the funds,
providing compliance infrastructure and support to plan
sponsors, along with written assurances in the form of
“hold harmless agreements” and other service
provider agreements to assist the plan in meeting
strengthened regulatory requirements.
“At a time when many 403(b) service providers are
stepping back in the face of new compliance
responsibilities, AIG VALIC is standing firm with our
education partners, providing reasonable written
assurances that we can assist their plans in meeting the
new 403(b) requirements, protecting the compliance
integrity of the plan and participants’ retirement
assets,” said Bruce R. Abrams, President and CEO of
VALIC and the VALIC Retirement Services Company, in the
news release.
More information is at http://www.aigvalic.com/valic2003/plansponsor.nsf/contents/home .