University of South Alabama
USA HealthCare Management, LLC
VALIC Frequently Asked Questions
1. What are the upcoming changes affecting the University of South Alabama Retirement
Plans?
The University of South Alabama has approved VALIC to offer a mutual fund based
program to participants in both the 403(b) and 457(b) plans, along with USA HealthCare
Management 403(b) Matching Plan, effective April 1, 2016. These mutual funds provide
a wide array of offerings from well-known investment providers.
2. What does this mean for me?
Effective April 1, 2016, you may elect to contribute to the VALIC mutual fund program and
select from VALIC’s list of investment options. There are three methods in which to enroll:
Online - You will have to enroll into the retirement plan and elect VALIC investment options
by going on www.valic.com. You click “Enroll in your retirement plan” on the right side of
your screen and have your group Access ID ready.
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University of South Alabama 403(b) Tax Deferred Plan Access Code 03619001
University of South Alabama 457(b) Deferred Comp Plan Access Code 03619004
USA HealthCare Management 403(b) Matching Plan Access Code 71513001
By phone – call our Enrollment Center at 888-569-7055 between 7:30 a.m. and 7:00 p.m.
(CT).
• University of South Alabama 403(b) Tax Deferred Plan Access code 03619001
• University of South Alabama 457(b) Deferred Comp Plan Access Code 03619004
• USA HealthCare Management 403(b) Matching Plan Access Code 71513001
In Person – Your VALIC financial advisor can meet with you and walk you through the
enrollment process. Notify your Human Resources Office if you wish to schedule an
appointment with the local VALIC advisors.
Once you complete the enrollment process, your account will be established with
VALIC.
3. When electing the VALIC mutual fund program, do I need to still have a paper
Salary Reduction Agreement (SRA)?
Yes. You will have to enroll through www.valic.com to set up an account but you
will have to still fill out a paper SRA. Please obtain the paper SRA, fill it out and return
it to the Human Resources office to start your payroll deductions.
4. Will loans be available with the VALIC mutual fund based program?
Yes, a fee of $50.00 will be charged as an initial set-up cost with a $50.00 annual fee for
administration. In addition, the interest rate charged for participant loans on the mutual
fund platform is different from the interest rate charged on the annuity platform. All loan
interest repaid will be credited to the participant’s account. The method of repaying your
loans will change to Automatic Clearing House (ACH) debit, which you can establish
through a financial institution of your choosing. Please consult with your VALIC
financial advisor for more information.
5. Who can I contact if I have questions about any of the mutual funds or this transfer
process?
If you have any questions about the new enhancements to the USA retirement plans you
may contact your local VALIC financial advisors:
Loyce St. Clair
Les Parnell
email: loyce.st.clair@valic.com
email: les.parnell@valic.com
You can call the local District office at 251-625-4894 to speak to your VALIC Financial
advisor.
6. How often will I receive an account statement?
VALIC mails account statements to your address on record no later than 15 business days
after the end of each calendar quarter. These account statements include helpful
information about your account balance, your investment elections and transaction
history for all of your accounts with VALIC.
7. May I participate with both VALIC and TIAA-CREF plans simultaneously?
Yes, you may divide your contributions any way you designate.
8. What are the VALIC fees and expenses should I elect to participate?
The annual VALIC administrative fee is .52% and will be assessed as 0.13% each
quarter. The fee will be assessed pro rata across all accounts. Any revenue
reimbursements received by VALIC from the mutual fund investments will be passed
directly through as a credit against VALIC’s administrative fee, possibly lowering the fee
from the above stated percent.
Example of the annual VALIC administrative fee:
Annual investment of $1,000 x 0.0052 = $5.20
The expenses associated with each individual mutual fund are in addition to the
administrative fee and may be found online at www.valic.com or via a mutual fund
prospectus.
Investors should carefully consider the investment objectives, risks, fees, charges and expenses before
investing. This and other important information is contained in the prospectus, which can be obtained
from your financial professional or at www.valic.com/eprint. Enter your Group ID in the Login field
and click Continue. You can also request a copy by calling 1-800-428-2542. Read the prospectuses
carefully before investing.