Founded in 1955 as The Variable Annuity Life Insurance Company of America, Incorporated, located in Washington, D.C., VALIC was reorganized in the State of Texas in 1968. On November 5, 1968, the company name was changed to The Variable Annuity Life Insurance Company (‘’VALIC’’). VALIC has more than half a century of experience in helping Americans plan for and enjoy a secure retirement. VALIC has been a pioneer and innovator in the retirement services market since it enrolled the first school district in a 403(b) plan in 1964.
The company is a leading retirement plan provider for K-12 schools and school districts, as well as for higher education, government and not-for-profit healthcare institutions. VALIC, headquartered in Houston, has more than $65 billion in assets and manages plans for nearly 25,000 groups serving nearly 2 million people (09/30/2010). The Variable Annuity Life Insurance Company has a broker/dealer and investment advisor subsidiary, VALIC Financial Advisors, Inc. and a registered transfer agent and recordkeeper, VALIC Retirement Services Company. The company’s president and chief executive officer is Bruce R. Abrams. VALIC is a subsidiary of American International Group.
1955 Founded as The Variable Annuity Life Insurance Company of America, Inc.
1964 Enrolled the industry’s 1st public school district into a 403(b) retirement savings program (Dade County, FL)
1966 Enrolled company’s 1st university plan with Oregon University System. VALIC still serves them today.
1971-74 Played a leading role in preserving 403(b) annuities during ERISA legislative process
1986 Played a leading role in preserving 403(b) provisions during Tax Reform Act of 1986 legislative process
1987 Introduced a set of annuitization options and full-service plan administration
1990 Introduced array of index fund options
1994 1st to offer publicly available mutual funds in annuities for the 403(b) marketplace
Introduced innovative computer-based asset allocation services
1998 Opened national Client Care Center – toll-free help from trained Client Service Professionals
2003 Pioneered the use of independent third-party investment advice and automated portfolio management services under the SunAmerica advisory opinion issued by the U.S. Department of Labor
2004 Introduced Plan Sponsor Online, a secure website for plan sponsors
Introduced Retirement Manager – combination common remitter service, plan compliance tool and participant education resource
2005 Opened VALIC Retirement Education Center with licensed advisors to help educate individuals about sound investment management and distribution of retirement savings assets
2008 Introduced 403bUniversity.com, a complete online resource for plan sponsor use in every area of compliance
2010 Received seven Best-in-Class Awards for participant services from PLANSPONSOR Magazine, in a nationwide survey of plan administrators for defined contribution plans of all asset levels