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DISCONTINUED PRODUCT - Product not available to new enrollees.

VALIC Assured Choice Annuity
Product ID: 138

Vendor:
Corebridge Financial
Type:
Fixed Annuity 
Discontinued Discontinued


1%
AM Best:
A
Moody's:
A2
S&P:
A+
8 Years / 7.00%
No





VALIC Assured Choice Annuity is a multi-rate single-premium deferred fixed annuity with a market value adjustment. This product allows participants to allocate their single premium among one or more of the guaranteed interest rate periods: three years, five years, or seven years. When a guaranteed interest rate period expires, that portion will automatically renew for a period of the same duration, unless the client contacts the company prior to the end of the period or within 30 days following the end of a term. Interest rate breakpoints are applied at the annuity value level and interest rates may be higher on deposits of $50,000 or more. This product is approved for use as an individual contract. Investors should consult the contract for more complete information.

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VALIC notifies each participant 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 participant 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 participant. Investors should consult their contract for details.
Benefit payments are made only to the participant during his or her lifetime. There is no provision for a death benefit for a beneficiary. To some participants, this option may provide a higher benefit than other options. Withdrawals may be limited by the plan and federal tax law. Before the participant turns age 59 1/2, withdrawals may be subject to a 10% tax penalty. Investors should consult their contract for details.
Benefit payments are made to the participant during his or her lifetime. If the participant dies before the selected guaranteed period has expired, the beneficiary will receive payments for the rest of the guaranteed period. A participant may choose to receive periodic annuity payments for a selected number of years (5, 10, 15, or 20), subject to Internal Revenue Code restrictions. Withdrawals may be limited by the plan and federal tax law. Before the participant turns age 59 1/2, withdrawals may be subject to a 10% tax penalty. Investors should consult their contract for details.
Benefit payments are made to the participant during his or her lifetime. Upon the participant's death, his or her beneficiary shall receive a lump sum payment equal to the remaining annuity value. Withdrawals may be limited by the plan and federal tax law. Before the participant turns age 59 1/2, withdrawals may be subject to a 10% tax penalty. Investors should consult their contract for details.
Participants can withdraw the entire vested value of their account. Withdrawals may be limited by the plan and federal tax law. Before the participant turns age 59 1/2, withdrawals may be subject to a 10% tax penalty. A surrender charge and market value adjustment may apply. Investors should consult their contract for details.
Benefit payments are made to the participant 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 the plan and federal tax law. Before the participant turns age 59 1/2, withdrawals may be subject to a 10% tax penalty. Investors should consult their contract for details.
Partial Withdrawals:
Participants may elect to take scheduled or nonscheduled withdrawals as desired or needed subject to IRS restrictions and plan provisions. Withdrawals may be limited by the plan and federal tax law. Before the participant turns age 59 1/2, withdrawals may be subject to a 10% tax penalty. Surrender charges and market value adjustment may apply. Investors should consult their contract.
These rates may change without notice. Contact your provider for the most current rates.



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.

Surrender Charges

Surrender Period* Surrender Percentage
1 7.00%
2 7.00%
3 7.00%
4 6.00%
5 5.00%
6 4.00%
7 3.00%
8 0.00%

*Expressed in contract years


Exceptions to the Surrender Charge:
Percent of contract value:
10.00%
Death:
Yes

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