Dear Plan Sponsor:
A fund substitution will occur in several of the annuity products offered by VALIC. The Board of the VALIC Company I Government Money Market I Fund has elected to liquidate the fund and replace it with another money market fund. This change impacts Portfolio Director® Plus, Portfolio Director® 2, Portfolio Director®, Portfolio Director® Freedom Advisor, Equity Director®, Independence Plus, Potentia® and Impact product platforms.*
Money market fund substitution overview
The Goldman Sachs VIT Government Money Market Fund Institutional Shares will replace the liquidating fund.
- Fund substitution period: The substitution of the fund will occur on or about April 29, 2022.
- Participant units:
- The unit value (and associated account value) in the money market fund option under the separate account, including each participant’s interest in such fund option, will remain the same immediately before and after the substitution.
- For administrative ease, when the substitution occurs, shares of the substituted money market fund will be held in a new division of the separate account.
For additional information, find out more about the substitution fund.
Thank you for your trust and continued partnership. Please do not hesitate to reach out to your Corebridge Financial Retirement Services representative if you have questions.
For Plan Sponsor Use Only. Not for Public Distribution.
*Policy Form Series UIT-194, UITG-194, UITG-194P, UIT-585, UITG-585,V-806, UIT-194-IC, UITN-194-IC, UIT-IRA-12-NY, UITN-12-NY, UIT-12-NY, UIT-981 and GFVUA600.
You could lose money by investing in the Money Market Fund (Fund). Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.
This material is general in nature, was developed for educational use only, and is not intended to provide ﬁnancial, legal, ﬁduciary, accounting or tax advice, nor is it intended to make any recommendations. Applicable laws and regulations are complex and subject to change. Please consult with your ﬁnancial professional regarding your situation. For legal, accounting or tax advice consult the appropriate professional.
Corebridge Financial represents The Variable Annuity Life Insurance Company (VALIC) and its subsidiaries, VALIC Financial Advisors, Inc. (VFA) and VALIC Retirement Services Company (VRSCO). Securities and investment advisory services offered through VFA, member FINRA, SIPC and an SEC-registered investment adviser. Annuities are issued by VALIC, Houston, TX.
Annuities are issued by The Variable Annuity Life Insurance Company, Houston, TX. Variable annuities are distributed by AIG Capital Services, Inc., member FINRA.
VC 39085 (04/2022) J846010 ER