DISCONTINUED PRODUCT - Product not available to new enrollees.
Equity Director Fixed and Variable Annuity
Product ID: 190
Vendor:
Type:
Variable Annuity
Discontinued 
$199
0.74%
6 Years / 5.00%
Yes
Roth Eligible
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Address: - Product Details
- Fees and Charges
- Investment Options
This product is sold by Independent advisors and is available for IRAs, 403b rollovers and NQDAs. Equity Director allows contract owners to select from a diversified group of more than 60 investment options that provide competitive current interest rates and guarantee safety of principal. As a VALIC client, investors also receive face-to-face service with a licensed Independent advisor; monitoring of IRA contribution limits; timely processing of withdrawals and distributions; the ability to view information and initiate transactions through VALIC's Web site and voice response system. This product is approved for issue as an individual contract and is not available as a salary reduction product. Investors should consult the contract and product prospectus before investing.
Select the topics below to expand and view additional product details
VALIC offers a return of principal on initial deposits allocated to the fixed account, less any withdrawals or transfers. Investors should consult their contract for details.
VALIC offers personal assistance through our Client Service Professionals and our local Independent advisors so that investors may learn about retirement planning, investment strategy and risk management and reallocate account balances at any time via self-serve tools such as our Web site at www.valic.com and VALIC by Phone(1-800-428-2542). These requests are processed the same day if received prior to 4:00 p.m. ET. Investors should consult their contract for details.
Contact owners may choose to automatically rebalance their accounts or perform a nonscheduled rebalance at any time via self-serve tools such as our Web site at www.valic.com and VALIC by Phone(1-800-428-2542). These requests are processed the same day if received prior to 4:00 p.m. ET. VALIC also offers a high level of personal assistance through our highly-trained Client Service Professionals and our local Independent advisors. Transfers of $5,000 or more out of a fund will restrict transfers of $5,000 or more into the same fund for 30 days. Investors should consult their contract for details.
Contract owners may set up a series of periodic transfers from the fixed account to the variable accounts on a monthly, quarterly or annual basis. These requests can be initiated at any time via self-serve tools such as our Web site at www.valic.com and VALIC by Phone(1-800-428-2542). Our Client Service Professionals and local financial advisors are also available to provide personal assistance. These requests are processed the same day if received prior to 4:00 p.m. ET. Investors should consult their contract for details.
VALIC offers a return of principal on initial deposits allocated to the fixed account, less any withdrawals or transfers. Investors should consult their contract for details.
Contract owners can request a loan or forecast different loan scenarios via self-serve tools such as our Web site at www.valic.com and our voice response system. Contract owners may also request a loan with the assistance of our Client Service Professionals (CSPs) during business hours. Our CSPs prepare all loan documents. The loan is issued within three business days of the completed request. Loan repayments may be made by personal check or, in certain limited situations, by payroll deduction. The loan interest rate charged will be up to 3% above the minimum guaranteed interest rate of the contract. Investors should consult their contract for details.
VALIC notifies each contract owner of the distribution requirements under IRC Section 401(a)(9). The notification explains the distribution requirements (i.e. beginning date requirements, tax implications, minimum payment calculation, etc.). The contract owner is given an option for VALIC to calculate the minimum distribution within the guidelines required by the IRS. Distributions will be automatically generated if requested by the contract owner. Investors should consult their contract or prospectus for details.
Yes
Riders are amendments to the annuity contract that typically add to your costs. make sure you inquire about any additional costs. The following riders exist for this product:
IncomeLOCK Plus:
IncomeLOCK Plus is an optional guaranteed minimum withdrawal rider that can cover the owner’s life or the lives of the owner and spouse. The initial annualized fee amount is 1.10% (one covered person) or 1.35% (two covered persons) for the first year; thereafter, the fee may fluctuate each quarter based on an outside volatility index. Client must comply with investment requirements, including 20% allocation of all purchase payments to Fixed Account Plus, while the rider is in effect on the account.
IncomeLOCK Plus is an optional guaranteed minimum withdrawal rider that can cover the owner’s life or the lives of the owner and spouse. The initial annualized fee amount is 1.10% (one covered person) or 1.35% (two covered persons) for the first year; thereafter, the fee may fluctuate each quarter based on an outside volatility index. Client must comply with investment requirements, including 20% allocation of all purchase payments to Fixed Account Plus, while the rider is in effect on the account.
Benefit payments are made during the lifetime of the contract owner and his or her beneficiary. Upon the death of one, payments continue during the lifetime of the other (survivor). We offer several options where the contract owner and his or her beneficiary can arrange to receive the same benefit over both lifetimes or could opt for a higher payout while both are living and a lower payout after one dies. Withdrawals may be limited by your plan and federal tax law. Before the contract owner turns age 59 1/2, withdrawals may be subject to a 10% tax penalty. Investors should consult their contract or product prospectus for details.
Benefit payments are made only to the contract owner during his or her lifetime. There is no provision for a death benefit for a beneficiary. To some contract owners, this option may provide a higher benefit than other options. Withdrawals may be limited by your plan and federal tax law. Before the contract owner turns age 59 1/2, withdrawals may be subject to a 10% tax penalty. Investors should consult their contract or prospectus for details.
Benefit payments are made to the contract owner during his or her lifetime. If the contract owner dies before the selected guaranteed period has expired, the beneficiary will receive payments for the rest of the guaranteed period. A contract owner may choose to receive periodic annuity payments for a selected number of years, generally between five and 30 years, subject to Internal Revenue Code restrictions. Withdrawals may be limited by their plan and federal tax law. Before the contract owner turns age 59 1/2, withdrawals may be subject to a 10% tax penalty. Investors should consult their contract or prospectus for details.
Benefit payments are made to the contract owner during his or her lifetime. Upon the contract owner's death, his or her beneficiary shall receive a lump sum payment equal to the remaining annuity value. Withdrawals may be limited by your plan and federal tax law. Before the contract owner turns age 59 1/2, withdrawals may be subject to a 10% tax penalty. Investors should consult their contract or prospectus for details.
Contract owners can withdraw the entire vested value of their account. Withdrawals may be limited by their plan and federal tax law. Before the contract owner turns age 59 1/2, withdrawals may be subject to a 10% tax penalty. A surrender charge may apply. Investors should consult their contract or prospectus for details.
Benefit payments are made to the contract owner for a selected number of years, between three and thirty. Upon his or her death, payments will continue to the beneficiary until the designated period is completed. Withdrawals may be limited by their plan and federal tax law. Before the contract owner turns age 59 1/2, withdrawals may be subject to a 10% tax penalty. Investors should consult their contract or prospectus for details.
Partial Withdrawals:
Contract owners may elect to take scheduled or nonscheduled withdrawals as desired or needed subject to IRS restrictions and plan provisions. Withdrawals may be limited by their plan and federal tax law. Before the contract owner turns age 59 1/2, withdrawals may be subject to a 10% tax penalty. Surrender charges may apply. Investors should consult their contract or prospectus for details.
Contract owners may elect to take scheduled or nonscheduled withdrawals as desired or needed subject to IRS restrictions and plan provisions. Withdrawals may be limited by their plan and federal tax law. Before the contract owner turns age 59 1/2, withdrawals may be subject to a 10% tax penalty. Surrender charges may apply. Investors should consult their contract or prospectus for details.
All 403(b) products contain fees. The amount of fees varies greatly depending on the product. A slight increase in fees can
substantially reduce the growth in your account which will reduce your income in retirement. To learn more about the impact
of fees, and the different types of fees please refer to the
Explanation of Fees piece located in the
Help & Resources.
Fees
|
|
$3.75 | Quarterly | Flat Dollar Amount | No | No | Yes |
|
|
$60.00 | At the time of loan origination | Flat Dollar Amount | No | No | Yes |
|
|
1.10% | Annually | Percentage of Annual Assets | No | No | Yes |
Surrender Charges
| Surrender Period* | Surrender Percentage |
|---|---|
| 1 | 5.00% |
| 2 | 5.00% |
| 3 | 5.00% |
| 4 | 5.00% |
| 5 | 5.00% |
| 6 | 0.00% |
*Expressed in contract years
Surrender Penalty Charge assessed on a "rolling" basis:
We offer surrender and withdrawal provisions that include a variety of "free-out" options. Contract owners may withdraw up to 10 percent of the accumulated account value per contract year without charge. The surrender charge is 5 percent of the lesse
Exceptions to the Surrender Charge:
Other Restrictions:
Exceptions to the Surrender Charge:
Percent of contract value:
10.00%
Death:
Yes
Disability:
Yes
Financial Hardship:
Yes
We offer surrender and withdrawal provisions that include a variety of "free-out" options. "Free-out" options available include: selection of annuity payout option of 5+ years duration; selection of a five-year systematic withdrawal option; no contri
