AIG SunAmerica Introduces The Individual 401(k) for Self-Employed Business Owners: 401(k) Benefits Funded by a Variable Annuity Offering Income for Life Options.LOS ANGELES Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. -- AIG AIG addressee indicator group (US DoD) AIG American International Group, Inc AiG Answers in Genesis (religious group in defense of Scripture) AIG Artificial Intelligence Group AIG Australian Industry Group SunAmerica Retirement Markets, Inc. today introduced the AIG SunAmerica Individual 401(k), a retirement income opportunity that provides an income for life option for millions of eligible self-employed business owners. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. The U.S. Census Bureau Noun 1. Census Bureau - the bureau of the Commerce Department responsible for taking the census; provides demographic information and analyses about the population of the United States Bureau of the Census , more than 2,300 Americans go into business for themselves each day and their companies now account for 78 percent of all U.S. businesses, with annual receipts of $951 billion. The new 401(k), sold by financial professionals licensed to sell AIG SunAmerica Retirement Markets products, provides optional living benefits funded through an AIG SunAmerica variable annuity Variable Annuity An insurance contract in which, at the end of the accumulation stage, the insurance company guarantees a minimum payment. The remaining income payments can vary depending on the performance of the managed portfolio. that enable income protection and guarantee features--regardless of market performance. "The Individual 401(k) is a simple, powerful retirement solution for self-employed business owners," said Robert Scheinerman, Senior Vice President, AIG SunAmerica Retirement Markets. "This 401(k) provides higher tax-deferred contribution limits than other common retirement options and, when offered within our variable annuity products, is an ideal solution for individuals who want an innovative, guaranteed living benefit that can establish a steady lifetime income stream in retirement." MarketLock for Life Plus is offered as an optional feature for an additional fee in the variable annuity used to fund the AIG SunAmerica Individual 401(k). Important restrictions and parameters apply. Investors should read the prospectus carefully. Individual 401(k) enables business owners to create their own personal retirement plan with the growth potential of a traditional 401(k) plan during work years, and the tools to create an income stream during retirement similar to that of a defined benefit plan Defined benefit plan A pension plan obliging the sponsor to make specified dollar payments to qualifying employees at retirement. The pension obligations are effectively the debt obligation of the plan sponsor. Related: Defined contribution plan . When this personal retirement plan includes an optional variable annuity living benefit such as MarketLock For Life Plus, it helps self-employed business owners navigate around three of retirement's biggest risks: * Longevity longevity (lŏnjĕv`ĭtē), term denoting the length or duration of the life of an animal or plant, often used to indicate an unusually long life. Risk: Investors age 50 and older need the key combination of upside potential Upside potential The amount by which analysts or investors expect the price of a security may increase. upside potential The potential price or gain that may be expected in a security or in a security average, generally stated as the dollar of equities and downside protection Downside Protection Generally used in connection with covered call writing, this is the cushion against loss, in case of a price decline by the underlying security, that is afforded by the written call option. from market volatility. MarketLock For Life Plus provides a reliable way to help guard against longevity risk and to provide annual retirement income for as long as the business owner or business owner and spouse live--providing withdrawals are taken within the parameters of the feature. * Market Risk: Market volatility at the wrong time may seriously affect retiree investments and retirement income. MarketLock For Life Plus protects against this risk with guarantees that retirement income will not suffer regardless of how the market performs. * Inflation Risk: A well-diversified, balanced portfolio can provide self-employed business owners with the long-term growth potential needed to keep ahead of inflation while helping to reduce volatility. Of course, diversification alone does not always ensure a profit or protect against market loss. MarketLock For Life Plus can step up and lock in investment gains, providing the potential for higher retirement income streams to help keep up with the rising cost of living. "We conducted recent research1 in which nine out of ten baby boomers See generation X. cite lifetime income, continued asset growth, and asset protection as top financial goals in retirement," said Scheinerman. "AIG SunAmerica's new Individual 401(k) provides millions of eligible boomer boom·er n. 1. Informal A nuclear submarine armed with ballistic missiles. 2. Informal A baby boomer. 3. A transient worker, especially in bridge construction. 4. business owners with a powerful opportunity to achieve those goals and more." AIG SunAmerica Individual 401(k) Availability and Conditions Businesses entities including sole proprietorships A form of business in which one person owns all the assets of the business, in contrast to a partnership or a corporation. A person who does business for himself is engaged in the operation of a sole proprietorship. , partnerships, limited liability companies and corporations whose employees are limited to the owner(s) and the owners' spouse(s) are generally eligible to establish an Individual 401(k). An Individual 401(k) plan is funded by select AIG SunAmerica variable annuities Variable annuities Investment contracts whose issuer pays a periodic amount linked to the investment performance of an underlying portfolio. . Variable annuities are long-term investment vehicles designed to help investors save for retirement with a combination of tax-deferred growth on earnings, a wide range of investment options, guaranteed lifetime income options and protection features such as the living benefit described here, as well as death benefits that can help protect the value of the investment for the owner's beneficiaries. Of course, tax-qualified plans such as a 401(k) are tax deferred (and subject to required minimum distributions) regardless of whether or not they are funded with an annuity. Investors should know that an annuity does not provide any additional tax-deferred treatment of earnings beyond the treatment provided by the tax-qualified retirement plan itself. Investors should discuss their decision to use a variable annuity within a qualified plan with their investment representative. Because investors pay no taxes on contributions or earnings within their variable annuity until they take a withdrawal, withdrawals are subject to ordinary income tax and, if taken prior to age 591/2, a 10% federal tax penalty may apply. Early withdrawals may also be subject to withdrawal charges imposed by the insurance company. Partial withdrawals may also reduce benefits available under the annuity contract Annuity Contract The written agreement between an insurance company and a customer outlining each party's obligations in an annuity coverage agreement. This document will include the specific details of the contract, such as the structure of the annuity (variable or fixed), any as well as the amount available upon a full surrender. An investment in a variable annuity, like any investment in market securities, involves investment risk, including possible loss of principal. The contract, when redeemed, could be worth more or less than the total amount invested. The living and death benefits in variable annuities, while not a guarantee of contract value, were specifically designed to help protect future income and the beneficiary's inheritance against these risks. Please call 1-800-445-SUN2 or contact your investment representative to request a prospectus. Please read the prospectus carefully before investing. The prospectus contains the investment objectives, risks, fees, charges, expenses and other information regarding the contract and underlying funds, which should be considered carefully before investing. Any guarantees referenced in this press release are subject to the claims paying ability of AIG SunAmerica Life Assurance Company or First SunAmerica Life Insurance Company, as applicable. AIG SunAmerica Retirement Markets, Inc., a subsidiary of AIG Retirement Services, Inc., specializes in marketing and distributing the retirement savings products issued by AIG SunAmerica Life Assurance Company and First SunAmerica Life Insurance Company. AIG SunAmerica Retirement Markets supports the distribution of variable annuities through an extensive national network of registered representatives at independent broker-dealers, securities firms and banks. American International Group
American International Group, Inc. (AIG) (NYSE: AIG; TYO: 8685 ) is a major American insurance corporation based in New York City. , Inc. (AIG), world leader in insurance and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. , as well as the stock exchanges in Paris, Switzerland and Tokyo. Variable annuities are issued by AIG SunAmerica Life Assurance Company, except in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . AIG SunAmerica Life Assurance Company is a subsidiary of AIG Retirement Services, Inc. and its ultimate parent company is American International Group, Inc. (AIG). All products may not be available in all states. An investment in a variable annuity involves investment risk, including possible loss of principal. The contract, when redeemed, may be worth more or less than the total amount invested. The purchase of a variable annuity is not required for, and is not a term of, the provision of any banking service or activity. Neither AIG SunAmerica nor its representatives provide tax or legal advice. Clients should contact their own tax advisor A tax advisor is a financial expert especially trained in tax law. Some countries require tax advisors to verify the balance sheets of companies above a certain size. Individuals usually require tax advisors to minimize taxation, to avoid learning the details of tax law in or attorney regarding their particular situation. Distributed by AIG SunAmerica Capital Services, Inc. 21650 Oxnard St., Woodland Hills, CA 91367 (800) 445-7862 NOT FDIC FDIC See: Federal Deposit Insurance Corporation FDIC See Federal Deposit Insurance Corporation (FDIC). OR NCUA/NCUSIF INSURED * NO BANK OR CREDIT UNION GUARANTEE * MAY LOSE VALUE 1 "America Speaks Out on Retirement: 2007 Investor Research Study," AIG SunAmerica. |
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