VALIC
reviews and complaints

my name is royce wolverton. i am person of authority for wanda m wolverton . wanda passed away on april 23, 2023. she has an annuity account with a $54,477 balance. i have contacted valic twice a week since her passing. valic requested a certified death cerficate and copy of letter of authortiy. these have been received by valic. as of this date i have not received the payoff of her account. wanda ssn is [protected]. please help

1. I applied for VALIC (now AIG Retirement Services) on May 22, 2023 via the Shell Benefits Service Center.

2. The monthly pension from VALIC per Shell was $223.30, subject to change. The first payment was to be received on June 24, 2023. Valic advised the monthly amount is now $253.07. The first payment is scheduled for August 1, 2024 which is unacceptable. I requested the monthly benefit start immediately.

3. My retirement commenced at the age of 65 per Shell’s policy. My Benefit Commencement Date is July 1, 2014 for a retro active pension benefit of $29,248.92 verified by Shell. This retro payment has not been paid and needs to processed and remitted immediately.

4. Valuc put me in contact with a financial advisor, Matthew who could not help with my issues, stating he did not have access to the details.

5. Valic advised the issue would be taken up with your Processing Department. No phone number or name of a management person for the department could not be provided.

I end my employment with the company my 457b was set up with over a month ago, I’ve sent in the forms to close this account three times now, and they refuse to process them. And also refuse to expand on why. They don’t return emails from their own website, and it’s impossible to get through on their customer service line. I wish I’d have known what a pain in the [censored] this was going to be 9 years ago, I’d have never opened the account.

My wife had an IRA with VALIC and IAG (she was a school teacher and consequently a state employee. I recently found out that there is still $4266.98 in her VALIC account that should have been dispersed to the First Congregational Church in Gaylord MI. This information is per Tim Orr at VALIC headquarters [protected]). Tim also told me that my wife's financial advisor had to be the person to handle the actual transfer of money. I have tried and tried to contact two VALIC representatives, Michael Kreger [protected] and Ryan McCallum [protected] to no avail. The amount of the outstanding payment is not monumental but I do know the church can use the money. I am at a dead end right now trying to get this done. I am Martha Storing's husband and also her executor and I want to be able to complete her estate wishes. The account from which the money is attached is RUM-013999. Her death was 11/11/2021 and I think there has been plenty of time for her Financial advisors to get this done. The vast amount of her investments have been dispersed per her wishes and this rather small amount is still open preventing me from closing her estate.

Donald N. Storing [protected]

I am unable to resolve or solve for obtaining my Father's accounts that he directed to me. The local office in Plano, Texas is unresponsive and does not provide support nor direction.

No one answers the phones, no one responds to emails. I have called Core bridge Financial, AIG and Valic. I've attempted to track down customer service, an area manager, a VP, anyone to no avail.

AIG Retirement Services

2745 Dallas Parkway, Ste 480 | Plano, TX 75093

| Office 972.383.7208 | District Office 972.383.7200 | Fax 855.766.1612

I left my company who used Valic AIG Retirment for a 403B program. I left the company and have now spent three months attmepting to get them to relaese my money regarding a rollover. First, they stated forms were not completed so I, along with my new brokerage representative, conducted a conversation with customer service and made certain we knew the correct forms. BTW - the forms are a nightmare to actually complete due to a lack of specific instructions. First go round, AIG let me know it would be ten days to process. Well, I waited and about three weeks later - my check containing the funds never shows. A series of additional telephone calls trying to find out where my money went. Finally, it was learned AIG sent the check to the wrong address even though the correct address was indicated on the form. Here we go with another round of telephone calls. Again, I was told it would take ten days to process a new check. Well, the time has passed and again no show on the check. Another series of telephone calls - this time the check is in process - what - in process have repeated telephone calls, sending to a wrong address, multiple telephone calls, and they believe it is perfectly acceptable for me to continue to wait on my money. Who knows if this shame of a company will ever actually send me my funds. Maybe I need to file a police incident report for theft as it appears they want to continue to deprive me of my funds. Reading through the complaints this seems to be the standard practice of AIG/VALIC.

I invested a little money in Valic through my employer. Monterey Peninsula Unified School District. I left service from MPUSD in 2014. I will be turning 72 this year and wish to withdraw all funds, As of today it is 10,532.31. I have sent in paperwork signed by an employee of the MPUSD records dept. that shows that I am, indeed, no longer working for MPUSD. I have called Valic/AIG a number of times, often having to hold for a long time. When I have talked with someone, the employees were very polite but I had to be switched to one after the other. When I finally got to someone I was told that I had to submit the paperwork that I have already submitted. Valic has my bank routing number and my checking account number for an electronic transfer to take place. They have, in fact, written me stating that I am enrolled in and capable of an electronic transfer. Previously, they had sent me a form to begin a minimum withdrawal due to my upcoming 72th birthday. I made it very clear that I don't want a minimum withdrawal, but the entire amount, since it isn't a great deal of money. To sum up they have my request, they have my bank information, they have the form signed by personnel that I have ended my service to MPUSD. so I don't know why I have to go through it all again. I just want money, which, as time goes on, is getting less and less because of the investment volatility. Thank you.. Victoria Holman

So first off let me say there is no way to resolve the issue as I have spoken multiple times with Valic [AIG] about it and they have told me repeatedly there is nothing they can do. I just recommend staying away from that Company. They have no idea what they are doing and their processing time is so slow it has greatly impacted my families life.

My mother passed away in 2013. I inherited 2 of her accounts and my father inherited 2. I called valic, informed them that the goal was to keep the accounts in their current plans as they had a fixed interest of 4.5% and both my father and myself wanted to use our inherited accounts for our retirement.

I filled in the form how they told me to ensure we got that. What they told me was wrong. Two years later I called them stating, I thought a required minimum distribution should have started. They told me no, that won't start until my mother would have turned 72 and 1/2. I called in 2016 as I was unemployed and asked if I could withdrawal any funds and I was told no, that would cause a very high penalty and I couldn't touch the accounts until I turned retirement age. I called in 2018 for the same reason. Told the same answer. In Dec of 2020, I hired a financial advisory (not Valic) to assist with my finances. He told me Valic was wrong and I needed to have started the RMD. I began calling them and stating this to them. They told me nope, I couldn't touch it until I retired. Financial advisory told me to call them again and ask for it in writing. They provided in writing that I didn't have any RMD's until my mother would have turned 72 and a 1/2. Again my financial advisor said, he still believed they were wrong (there are significant tax penalties) so he advised to continue calling. I have done so. I have called once a month since February 2021 and every month they tell me something different. In June of 2021, I received a letter telling me I had 90 days to close my account. I called, was told it was due to how I filled out my form back in 2013, and how I had 5 years from 2013 to submit some other form as I didn't, I had to surrender (i.e. close the account). I explained to them all my actions were based on what Valic had told me to do and I had called repeatedly over the years. I was told to file for an exception. I did so. I was denied. I have to close my account, lose the 4.5% fixed interest, and pay 20% in taxes now. All of my issues have been because Valic has completely told me the wrong info over the last 9 years. So many hours of life my have been wasted on dealing with them

In regards to my dad's inherited accounts. They lost the paper work. Which actually benefited him as it means we got to refill in the paper and actually select what the right option we wanted. However, we did this in 2021. The reason is because previously when we called and asked about his two accounts, we were repeated told it was zero. I had asked my brother if he had received the monies from the retirement account for dad and he had said yes, it was in the trust. (that part is on my brother and I as my brother didn't realize there were three accounts. So he was speaking about a third account and not the valic accounts). It took my dad repeatedly saying he didn't think he had gotten it and me calling. In February 2021, when I called Valic, I didn't have the account numbers in front of me so I asked them to help me find them. They told me two different account numbers than what we had. Apparently, they changed the account numbers a few years back as such, when I was calling asking about the account numbers I had, they were showing it was nil because I didn't have the new account numbers. Seriously?! In March 2021 we filled in the new paper. We were told it would take 3 to 4 weeks. After 2 weeks, I started calling. We were told it was still in process. At week 5, I was told it was delayed because it didn't the plan administrator to sign and they had reached out about it. At week 6, I was told oh no, it doesn't need a plan administrator they have pushed it through to the next level. At week 7, I was told oh no, it does need a plan administrator. At week 8, I was told they were having trouble reaching the plan administrator. When I asked what contact information they had for the plan administrator, they stated they didn't have any. Well that would explain why they couldn't get a hold of them. I had them fax me the documents, I emailed it to the plan administrator and called them, and returned the signed documents to Valic within 4 days. At week 12, it was approved. We are also trying to get my dad medicaid. We are not able to apply until the retirement fund issue gets resolved. It took 3 months from start to finish to get the accounts changed to his name. Once changed, we then needed to start a monthly distribution. That still hasn't been resolved and is holding up my father getting medicaid and the care he needs. It was de ja vu all over again. Told it didn't need plan administrator to sign off on so submitted the forms without that. Called and kept being told it was in process only to find out on the 5th call it was held up because it did need plan administrator signing. I had them fax it to me, I sent it over to get signed. Plan administer was on holiday as school was now closed for summer. Took about a week to get signed. Sent it back to Valic and am now just waiting for proof that the distributions have started. Moral of the story, Valic has no idea what it is doing. It is effecting my families life and my dad's ability to get the care he needs. If you are able to avoid this company, do so.

I needed to use my 401k investment since I'm retiring in few months. So I spoke to my Advisor Mr. Doug last September in 2020 and asked him his opinion in preserving my retirement account, he said he could not advise. So I asked if I could put my account in a CD. He said sure but it has to stay there for at least 3 months and we agreed. Time went by and called him in March this year 2021 to go ahead and put it back in the investment strategy account, he said we cannot do it now and we have to wait one year.
He wouldn't give me a reason to why he didn't tell me that in the first place.
I've already lost thousands of dollars by his lack of knowledge of his company's protocols or maybe he's doing it on purpose to cash out on the account.
Anyway, I do not recommend this institution AIG/Valic to anybody because of their advisors shady practices and incompetence.

I have been trying for nearly 2 weeks to take out a loan on MY money. Valic has still not released MY funds. I call almost everyday, speak to supervisors and still the loan department has not released my funds do to the fact that the loan amount keeps dropping everyday. Why is my loan dropping by almost 200.00 dollars and I'm still waiting. the loan amount should have been locked in and my funds removed from the market.

Hello,
I've had two valic accounts since 1988, one is an annuity-retirement for which I requested the possibility of a rollover... But that's another issue i'd like to deal with it further on.
Lately, I can't get a hold of them: their online site opens to an error code page and all phone numbers are always busy?! Is it possible that a new 'firewall' has been set up for 'out of state accounts' since I am trying to access the site and calls from italy?
I am actually very concerned and have sent numerous faxes, for which I don't get any feedback.
Thank you and looking forward to a kind reply.
Eileen collazo

I was terminated 2003 .. I've not worked since then and I tried withdrawing my money from Valic, I did everything needed and Valic just won't give me my money, they are giving me the runaround.
Online my acct stated that I needed to update my information so I did . Then I needed to fill out the workplace /job information, so i did that too. ... help !

Absolute worst customer service in the entire world. Woman knows not how to view my percent contribution or my current allocation, which is difficult to find on the site. Then snaps at me, saying she refuses to be spoken to in such a way, then when I ask her politely - I just want to know where my funds are going - I thought they were in fixed.. she says -"if you know why are asking me" RUDE. She refused to talk with me and kept saying the websites over and over again. I am seriously considering switching services. Worst customer service in any industry I have ever ever seen. If you want help call the 1-800 number, not your assigned advisers office.

I had left my employer 2 yrs ago. I had invested in a VALIC 403B. As I am 62 yrs old I am entitled to withdraw from this account. Well...a month ago I submitted a form for cash distribution. I was told it would be 3-5 days till my funds would be deposited. What a joke! I called 4 times and was told 4 different stories. I then called my snake of a financial advisor ..no response. I then emailed him..no response. My only option is to either confer with my lawyer or call my Vanguard advisor to be able to access my funds. DO NOT CHOSE VALIC FOR ANY FORM OF FINANCIAL FUND. You will be sorry..I know I am.

I'm upset that their over night service is not really overnight. I faxed my paperwork on late Thursday afternoon. I assumed they would have gotten the paperwork on Friday and sent me a check overnight on Friday and I would have received it on Saturday or at least on Monday. It is now Tuesday and It was just delivered. I was charged $25 for overnight service. I feel like I should get a refund. If not then there needs to be s better explanation of what overnight service is.

Doing buisness and also trying to close my account with valic has been a utter nightmare! I had to fax the correct form to them in order for them to "process my account for two-three business days to make sure I wasn't a active employee" (at a place I stopped working for almost 15 years ago?!) okay?! I'm kind of wondering why that was never communicated and it was left up to me to find out that I had money in an account that hadn't built up any interest in 15 years time? They "claim" they have your security in mind but honestly I have come to believe that they are making every excuse possible to hold onto your money or not get the money to you.
After waiting for a month for the form to be "processed" because I filled out sonething incorrectly and had to fax the same form in three times... My first check never came to me in the mail. I waited three weeks. My second check they "said they would over night" sat in their office for a week?! So I called very angry asking for my over night 25.00 I had to pay to over night ship my check... The supervisor only had the authority to refund 25.00?! Seriously? A csr couldn't do that? Working as a csr I couldn't understand why a regular csr seems to never be able to tell me what is going on with my account or be able to navigate a basic customer service screen? That's just totally incompetent to me and poor training.
I call the monday after the friday I was refunded my 25.00 and was going to see what excuse they would come up with now. Turns out after letting my over night check sit in thier office for a week they finally shipped it... But for snail mail (7-10 buisness days) honest to god what is wrong with this company!?
Why would you do that to someone? So I call again! Telling them I want my check overnighted and I want it now! Well, it takes a day to process a stopped check in order to print another one for some reason... Then they can overnight this third check?! Omg what?! I'm relieved and get my check in the mail this past friday (so it took two weeks to get my "overnighted check" to my address that they send all my account statements to; so they can't give the excuse that they don't know where I live.)
Today is monday, and they blocked my check I put in my account on friday! I honestly wish this company would stop bring awful jerks and just do what they promise they are sating they are going to do?! I have to wait to call them back in 30 minutes because "they're system isn't working". I honestly hate this company with every ounce of patience I have left. This is truthfully and aweful way to treat a pregnant preschool teacher. I have no idea how this company hasn't fallen with the lack of empathy and importance of policy versus their customers. That's really truly horrible!

On September 10, 2018 I contacted my Valic rep in order to withdraw funds from my account. He was no help and told me to call them direct. For which I did. They sent me the forms with instructions. I completed and faxed back to them the same day, as requested. That was a Monday. On Tuesday I received an email stating is was in process. Great! It was to be an electronic fund transfer into my checking account.
On Friday of the same week, September 14th, I called Valic as I had not seen the transfer happen. I was then told I need a Medallion Stamp in order to process. I went to my local bank, got the stamp and relaxed the documents back to Valic as requested by them. Monday, September 17...I call Valic to confirm receipt of the new paperwork with the medallion stamp. Yes, your funds will be deposited the next day, Tuesday, September 18th. As September 18th comes to the close of the business day there still is no transfer showing. I call again. They cannot read the medallion stamp. It did not come across very well in the fax. I offer to email it but the woman says they don't accept emails. She said if I verbally tell her I got the stamp then she will ask for an exception. Wednesday, September 19th, I call them at beginning of business and am assured it will be processed and deposited in my account by the end of business that day. 6 p.m EST arrives and no funds! I call again. No, the exception to the stamp is not approved. I again, offer to email. They accept it this time. Supervisor promises to process. Thursday, September 20th, 9:30 a.., I call to check on status. Yes, it has been processed and a check has been mailed! Where is my Electronic Fund Transfer? Sorry, they say, it's not working properly so we mailed it. I ask to speak with a supervisor. I ask that he try to EFT again. He says no, that he can't as a check has already been generated. He promises to overnight it. Not holding my breath! Now I not only have to wait for overnight but have to wait for it to clear!
Valic is absolutely ridiculous!

My company switched to valic. After several hours and trying to find out why a roll over of over $32000 was missing. I hope the 2 1/2 hours today fixed it. One person hung up on me because she keep raising her voice. They suck their wed site sucks they lose things "Your money and not money you invested . They lose your money before you have a chance to invest it"

about 1 month ago I requested paperwork for my husband and my account, never received paperwork for mine so photocopied husband and put my info, completed and sent with notary for spousal, now saying unable to process request at this time, two other companies have sent money to me and this Valic service is horrible! I called them today with my disgust so waiting for our money.