October 5, 2008

VALIC to be Sold - AIG Press Release

On Friday, AIG Retirement seems to have released a press release from its President and CEO Bruce R. Abrams explaining that VALIC would be one of the properties sold by parent company AIG. This news does seem to fit in with the previous press release e-mailed to me directly by AIG and posted on the website on Friday.

This does not mean that anything will change with VALIC or the investment options you have in your 403(b) accounts, but it is worth noting that a change does seem in the cards. As I have previously stated, the change should most likely be nothing more than a "branding" change with AIG Retirement's name changing to that of the purchasing company. This is similar to a bank being purchased by another bank, and it is no reason to be alarmed.

You can find the press release that was e-mailed to me by a visitor to the website by clicking here.

As information becomes available, I will post more information about changes.

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