AIG Valic Offers Roth 401(k)s
AIG VALIC has added Roth 401(k) and 403(b) accounts to its retirement plan services for education, health-care and government organizations.
Plan sponsors may offer employees the ability to contribute to new Roth accounts through their 401(k) and 403(b) retirement plans. Participants may direct all or a portion of their elective contributions as after-tax money and then make qualifying tax-free withdrawals of earnings from those accounts.
AIG VALIC‚s administrative systems have been enhanced to meet the new recordkeeping requirements of Roth accounts, including segregating after-tax Roth account contributions from pre-tax contributions; distinguishing after-tax Roth account contributions (cost basis) from related account earnings and interest; and maintaining the five-year "timer" for all Roth account contributions, which is a key requirement to permit tax-free distributions of earnings and interest.
AIG VALIC has created new plan sponsor and participant literature that explains the new Roth accounts and their benefits. Also, all VALIC financial advisors now have access to a software tool that can help them compare traditional pre-tax contributions to after-tax Roth account contributions.
For more information, visit www.aigvalic.com.
Group Started For Top Advisors
Dunham & Associates Investment Counsel Inc. has launched the "Quarter Club," a value-added membership group for high-level advisors serving affluent clients. Members are aligned as strategic partners with the firm and are eligible for marketing assistance and benefits such as enhanced compensation incentives.
Membership in the Quarter Club provides quarterly business development training for the top 25% fee-based advisors offering managed account solutions to their clients. For more information visit www.dunham.com or call Keith Gregg at 800-442-4358.
Vanguard Plans New Small-Cap Fund
Vanguard has filed a registration statement with the Securities and Exchange Commission to offer Vanguard® Strategic Small-Cap Equity Fund.
The new fund will seek to provide long-term capital appreciation by investing in small-capitalization U.S. stocks.
The fund is expected to be available to investors in the second quarter, pending a review by the SEC. A two-week subscription period will begin on the fund‚s effective date.
Allianz Releases Two LTC Products
Allianz Life Insurance Company of North America has released two new long-term-care insurance products, Generation Protector II and Generation Protector Select.
Generation Protector II combines traditional reimbursement with cash options, while Generation Protector Select features three precustomized benefit packages.
Both Generation Protector II and Generation Protector Select offer agent commission options and simplified underwriting for employer groups.
Brinker Capital Launches UMA
Brinker Capital has launched a unified managed account with a simplified account structure that allows advisors to offer robust asset allocation in a fully diversified portfolio designed to a client‚s goals, risk tolerance and asset level.
The UMA, with 20 portfolio options and a minimum account size of $250,000, is available through the firm‚s national network of independent registered investment advisors and advisors associated with insurance companies. For information visit www.brinkercapital.com.
Penn Mutual Upgrades Whole Life
The Penn Mutual Life Insurance Co. has redesigned its whole life insurance product to provide higher guaranteed cash values, while offering producers a low-maintenance policy.
The redesigned whole life policy replaces the company‚s LifeWise and LifeWise Plus products. For additional information visit www.pennmutual.com.
April 1, 2006
AIG Valic Offers Roth 401(k)s