Valic Annuity Ins Co / rollover delay

POBox 15648, Amarillo, TX, United States

I started my transfer of my IRA in Oct 2015. Valic would not provide the forms needed via email or fax, would only send via snail mail. Forms were ambigious and lengthily. They seemed like they tried to confuse you. They required a signature guarantee for rollover. They have held the moneies for about 40 years and think it's their's. I returned forms on two accounts via certified mail. I've called back twice, they don't move on the paperwork unless you call. First call, valic related I filled out one of the forms incorrectly, a different form would be sent for me to fill out and return. The second account they related could not be paid out til they paid the minimum distribution for this year. That was to happen two days after the phone call. Valic also related they could not cut both checks the same day, the rollover was to take another day after that. It has been over 10 days. We have not received the minimum yearly distribution nor the rollover. Valid has delayed rollover for over two'months. From the amount of complaints on the internet I see I am not alone. I've sent complaints to SEC, BBB and now this forum. Apparently the powers that be don't care because valic keeps acting this way. You have to wonder if valic knows the meaning of fiduciary. AIG Valic pulls a vacuum! I will start calling Monday and listen to more of their ca ca. From what I understand this is called gating your money.

Dec 12, 2015

Post your comment