AIG Launches Total Retirement Services To Meet Plan Needs

AIG Retirement Services, a leading retirement plan provider for tax-exempt and public sector employers, today announced the launch of its Total Retirement Services, a comprehensive solution that seamlessly combines and simplifies the defined contribution (DC) and defined benefit (DB) retirement plan experience for employees and employers.

Through the integration of DC and DB plans, Total Retirement Services brings retirement plan participants a simplified look at how much money they may have in retirement—whether that comes from their retirement savings, a pension or both, AIG said in a news release.

With a single website and mobile app, comprehensive account statements, a toll-free call-center and access to a financial professional with visibility into their full retirement picture, employees will have what they need to help them make more informed decisions about their retirement savings, investments and timing.

“In the current environment, employers are being asked to do more to contribute to their employees’ well-being,” said Gilliane Isabelle, chief distribution officer, AIG Retirement Services. “Our Total Retirement Services enables employees through holistic financial planning and a clear line of sight into their future retirement paycheck—while also assisting employers with the burdens of plan maintenance and compliance.”

Bringing together plan administration and recordkeeping for DC and DB plans, Total Retirement Services alleviates the time and resources spent by employers on the logistical challenges in bringing employees a holistic view of their complete retirement benefits. The end-to-end program will maximize the value of retirement plans through best-in-class technology, retirement benefits expertise and advanced compliance support.

To launch Total Retirement Services, AIG Retirement Services has engaged Findley, a division of USI, to provide DB administration services, drawing from a rich 50-year history of supporting pension plans and providing solutions that are cost-effective, minimize sponsor time commitments, and control compliance risk.

About AIG Retirement Services

For more than half a century, AIG Retirement Services has served as a leading defined contribution retirement plan provider for tax-exempt and public sector employers, including healthcare, K-12, higher education, government, religious, charitable and other nonprofit organizations. AIG Retirement Services has more than $100 billion in total assets under administration, managing thousands of plans serving approximately 1.8 million participants. It includes the VALIC family of companies: The Variable Annuity Life Insurance Company and its subsidiaries, VALIC Financial Advisors, Inc. and VALIC Retirement Services Company. Additional information can be found at www.aig.com/RetirementServices.

About AIG

American International Group, Inc. (AIG) is a leading global insurance organization. AIG member companies provide a wide range of property casualty insurance, life insurance, retirement solutions, and other financial services to customers in more than 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. AIG common stock is listed on the New York Stock Exchange.

This report compiled by InsuranceNewsNet staff.