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DISCONTINUED PRODUCT - Product not available to new enrollees.

Long-Term Fixed Account
Product ID: 114

Vendor:
Corebridge Financial
Type:
Fixed Annuity 
Discontinued Discontinued


2%
AM Best:
A
Moody's:
A2
S&P:
A+
6 Years / 5.00%
No





Corebridge Financial offers the Long-Term Fixed Account conjunction with our Profile Group Mutual Fund product. We employ a modified new money interest crediting policy. Under this policy, we declare a "current" interest rate at the beginning of each month applicable to contributions received during that month. The current rate declared is guaranteed until the end of that calendar year for contributions received that month. It is our intent to continue to credit interest at that same rate for such contributions for an additional calendar year. At the beginning of the third calendar year, such contributions will earn interest at a new declared pool rate. This rate is established January 1 of each calendar year and guaranteed for that entire calendar year.

Select the topics below to expand and view additional product details


Loans are available from the Long-Term Fixed Account, subject to administrative limitations and requirements imposed by the Custodian. Investors can forecast various loan scenarios via our self-service tools such as www.aigvalic.com or our voice response system. Loans can be requested by phone via our CSPs who prepare all loan documents. The loan is issued within three business days of the completed request. Loan repayments may be made by payroll deduction or ACH debit. Investors should consult their custodial agreement for more information.

Corebridge Financial notifies each participant of the distribution requirements under IRC Section 401(a)(9). The notification explains the distribution requirements (i.e. beginning date requirements, tax implications, minimum payment calculation, etc.). The participant is given an option for VALIC to calculate the minimum distribution within the guidelines required by the IRS. Distributions will be automatically generated if requested by the participant. Investors should consult their contract or certificate for details.
Benefit payments are made during the lifetime of the participant and his or her beneficiary. Upon the death of one, payments continue during the lifetime of the other (survivor). We offer several options where the participant and his or her beneficiary can arrange to receive the same benefit over both lifetimes or could opt for a higher payout while both are living and a lower payout after one dies. Withdrawals may be limited by your plan and federal tax law. Before the participant turns age 59 1/2, withdrawals may be subject to a 10% tax penalty. Investors should consult their contract or certificate for details.
Benefit payments are made only to the participant during his or her lifetime. There is no provision for a death benefit for a beneficiary. To some participants, this option may provide a higher benefit than other options. Withdrawals may be limited by your plan and federal tax law. Before the participant turns age 59 1/2, withdrawals may be subject to a 10% tax penalty. Investors should consult their contract or certificate for details.
Benefit payments are made to the participant during his or her lifetime. If the participant dies before the selected guaranteed period has expired, the beneficiary will receive payments for the rest of the guaranteed period. A participant may choose to receive periodic annuity payments for a selected number of years, generally between five and 30 years, subject to Internal Revenue Code restrictions. Withdrawals may be limited by your plan and federal tax law. Before the participant turns age 59 1/2, withdrawals may be subject to a 10% tax penalty. Investors should consult their contract or certificate for details.
Benefit payments are made to the participant during his or her lifetime. Upon the participant's death, his or her beneficiary shall receive a lump sum payment equal to the remaining annuity value. Withdrawals may be limited by your plan and federal tax law. Before the participant turns age 59 1/2, withdrawals may be subject to a 10% tax penalty. Investors should consult their contract or certificate for details.
Participants can withdraw the entire vested value of their account. Withdrawals may be limited by your plan and federal tax law. Before the participant turns age 59 1/2, withdrawals may be subject to a 10% tax penalty. A surrender charge may apply. Investors should consult their contract or certificate for details.
Benefit payments are made to the participant for a selected number of years, between three and thirty. Upon his or her death, payments will continue to the beneficiary until the designated period is completed. Withdrawals may be limited by your plan and federal tax law. Before the participant turns age 59 1/2, withdrawals may be subject to a 10% tax penalty. Investors should consult their contract or certificate for details.
These rates may change without notice. Contact your provider for the most current rates.



All 403(b) products contain fees. The amount of fees varies greatly depending on the product. A slight increase in fees can substantially reduce the growth in your account which will reduce your income in retirement. To learn more about the impact of fees, and the different types of fees please refer to the Explanation of Fees piece located in the Help & Resources.

Surrender Charges

Surrender Period* Surrender Percentage
1 5.00%
2 5.00%
3 5.00%
4 5.00%
5 5.00%
6 5.00%

*Expressed in contract years


Surrender Penalty Charge assessed on a "rolling" basis: The Long-Term Fixed Account allows an in-service 20 percent annual transfer with no withdrawal charge. Transfers in excess of the 20 percent annual amount will incur a five percent charge. This restriction includes money transferred to mutual funds
Exceptions to the Surrender Charge:
Percent of contract value:
20.00%
Death:
Yes
Disability:
Yes
Other Restrictions:
Attainment of age 59 1/2 and 5 years of service, retirement, minimum distributions and annuitization

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