VALIC — 403B loan
I needed a third-party signature for my $1, 200 loan, or so I thought. I called VALIC's customer service line and the man, barely listening to me, said no signature needed. Of course, he was wrong. Two weeks later, still no loan. I called back and was told of course, I needed that third-party signature. Three weeks later and numerous conflicting phone calls, my loan was finally "released, " even though VALIC said it could take up to 5 days to post to my bank despite ACH handling.
Why does VALIC have such a bad reputation? I'm guessing the richer you are, the more you invest = better customer service or a different 800 number. Either way, I froze my retirement account with them. Hope more middle-class people trying to survive follow suit. It's our money, not theirs! No more VALIC!
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