CPI Adds AIG VALIC Guaranteed Fixed-Interest Option to Retirement Plan Platform
GREAT BEND, KS, December 20, 2005 -- CPI Qualified Plan Consultants, Inc., a third party recordkeeping and administration company headquartered in Great Bend, Kansas, announced today that the AIG VALIC Fixed-Interest Option has been added to the CPI retirement plan platform.
The guaranteed, fixed-rate investment option product is suitable for group-sponsored 401k, 403(b), 401(a), or 457(b) tax-qualified retirement plans. The AIG VALIC Guaranteed Fixed-Interest Option product, issued by VALIC is a group fixed, unallocated annuity contract. It features a competitive rate of return and a minimum guaranteed credited interest rate. The rate is guaranteed not to fall below 2% (3% in New York, Oregon and Utah). Guarantees are subject to the claims paying ability of VALIC. The product is traded through NSCC, offers recordkeeping fees and commissions.
CPI Chief Marketing Officer, Jon L. Prescott, stated, "The AIG VALIC Guaranteed Fixed-Interest Option is a welcomed addition to our platform. Many of our plan sponsors have chosen to include a fixed or stable value option; this offering from AIG VALIC provides an option that hasn't been available to some plan sponsors in the past. The CPI retirement plan platform offers defined contribution plan sponsors cutting edge technologies in a daily valuation environment, while preserving valuable plan design flexibility." Mr. Prescott also commented, "At CPI we constantly strive to meet the needs of plan sponsors and their financial advisors, providing system capabilities that help to provide more choice, expanded flexibility, and greater depth."
About AIG VALIC
AIG VALIC is one of the leading retirement plan services providers in the United States. For more than half a century, it has specialized in providing retirement programs and related investment, recordkeeping and administrative services to a variety of employer types, including for-profit and not-for-profit elementary and secondary education institutions, hospitals and healthcare organizations, higher education institutions and governmental entities. AIG VALIC services 28,000 client groups and more than 2 million participant accounts. AIG VALIC is the marketing name for the group of companies comprising VALIC Financial Advisors, Inc.; VALIC Retirement Services Company; and The Variable Annuity Life Insurance Company (VALIC); each of which is a member company of American International Group, Inc.
About CPI Qualified Plan Consultants
Since 1972 CPI Qualified Plan Consultants, Inc. has provided recordkeeping and administration services to qualified and non-qualified defined contribution retirement plans. With corporate headquarters in Great Bend, Kansas, CPI has 12 regional offices located throughout the United States. CPI currently partners with the nation's most prominent mutual fund companies to provide services to more than 3,000 retirement plan clients. CPI provides third-party recordkeeping and administration services for the AIG VALIC Spectrum 401kSM program. For more information about CPI, visit www.cpiqpc.com or call 800-279-9916, extension 765.
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