AIG (American International Group) Retirement Funds
September 17, 2008
TO: AIG Retirement Plan Participants
FROM: Lois Ann Green, Director, Benefits
RE: AIG (American International Group) Retirement Funds
Some of you have called to inquire about your AIG/VALIC Retirement Plan funds as a result of various news articles over the past couple of days. VALIC is a wholly
owned subsidiary of AIG, and VALIC's funds are completely separate from the parent company AIG.
Below is information that we received from Jim Simone, Vice President, Relationship Management, AIG/VALIC:
- VALIC (The Variable Annuity Life Insurance Company) is an insurance company that is incorporated and protected by Texas state insurance regulations.
- Texas state insurance law regulates VALIC and the general account. These laws help to preserve and enhance the solvency of the general account and to assure that the contractual obligations to insurance clients are fulfilled.
- VALIC's fixed options provide fixed rate earnings and a guarantee of principal. This guarantee is backed by the claims-paying ability of VALIC, which supports only the obligations of VALIC, not any obligations of AIG.
- Participant's assets in variable annuity account options are invested in mutual funds regulated by the SEC and are separate and distinct from any AIG assets.
- If AIG is not able to resolve its issues, any federal filing would not involve VALIC.
General inquires may be directed to us at (919) 684-5600 (ask for a Benefits retirement representative). If you have questions about your AIG/VALIC investments, you
may call AIG/VALIC at (919) 401-3252.
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