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Prepared for Springfield R-XII School District
3
VALIC is 100 percent owned by AGC Life Insurance Company. AGC Life Insurance
Company is 100 percent owned AIG Life Holdings (US), Inc., which is 100 percent owned by
SAFG Retirement Services, Inc., which is 100 percent owned by American International
Group, Inc.
3. How many employees do you have (locally and nationally)? How many are dedicated
to the 403(b) and 457(b) recordkeeping and administration services?
Local:
4 VALIC Financial Advisors
Nationally:
2,760
VALIC has maintained a local office in Springfield, MO for over 15 years located at 1811
South Holland. All of VALIC's employees are dedicated to the servicing and administration
of our defined contribution plans. We provide coordinated recordkeeping, administration,
and investment services through our employees in our Houston and Amarillo, Texas offices.
Our national network of licensed financial advisors provides communication and education
services. These employees are not dedicated by plan type but are experienced in the
administrative requirements of all defined contribution plan types, ensuring quality service
for all VALIC clients.
VALIC is directly owned by AGC Life Insurance Company, and is indirectly wholly owned by
American International Group (AIG) and much of the support personnel for VALIC also
provides support for other areas of our Life & Retirement division; therefore, we no longer
report staff numbers for VALIC alone. There are 7,978 employees in AIG’s Life & Retirement
division and VALIC Financial Advisors, about half of which are considered to be VALIC
employees.
4. Please complete the following table, providing as much detail on plan demographics
as possible.
403(b) Plans
457 Plans
Number of
Employees
Plans
Participants
Assets
Plans
Participants
Assets
<100
16,442
242,099
$10,041,898,369
4,103
64,001
$2,251,330,760
100 - 499
1,458
299,842
$10,538,805,084
312
64,949
$2,213,801,666
500 - 999
242
165,077
$5,773,557,730
45
29,447
$766,818,665
1000 – 4,999
173
363,501
$13,404,768,314
31
59,452
$1,788,330,435
Over 5,000
26
236,162
$9,380,652,620
3
27,553
$628,431,221
Totals
18,341
1,306,681
$49,139,682,117
4,494
245,402
$7,648,712,747