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Products October 2, 2007
AIG Introduces New No-Load Mutual Fund Program to 403(b) Plans
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 Fred Schneyer
The Profile Retirement Program offers more than 30 no-load mutual funds covering all major equity and fixed-income asset classes. 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.
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%, according to a press release.
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.
More information is at http://www.aigvalic.com/valic2003/plansponsor.nsf/contents/home.
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