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Retirement Services

Retirement Services helps clients plan and invest to provide an income for themselves once they have retired or withdrawn from the workforce. Two of the most common sources of retirement income are annuities and mutual funds.

AIG Retirement Services offers a wide  variety or retirement products including mutual funds, combination, fixed, and variable annuities to meet your needs.

A combination annuity provides investors with the stability of a fixed annuity investment, as well as the potential for greater return with a variable annuity.

Fixed annuities are long-term retirement investments that offer tax deferral. It’s a contract where the insurance company pays a fixed rate of return.

Variable annuities are long-term retirement investments that offer tax deferral, a choice among variable-return investment options, optional features that can help protect against market volatility risk, and options that offer predictability of guaranteed lifetime income.

A mutual fund is an investment company that invests a pool of money from multiple investors into a mix of stocks, bonds and securities in an effort to achieve a specific objective over time.

A 401(k) is a retirement plan offered by corporations to their employees. Employees can elect to contribute a portion of their pre-tax cash wages via an automatic payroll deduction. These contributions are classified as deferred wages and are not subject to income tax withholding at the time they are distributed.

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Annuities
Annuities are tailor-made for providing guaranteed lifetime income. Technically, an annuity is a contract with a life insurance company, which in return for your investment agrees to pay income for a specified time or for your entire life. "Immediate annuities" pay income immediately. "Deferred annuities" defer the income phase, leaving time for an accumulation phase at a fixed rate (fixed annuities) or through investments in stocks and bonds (variable annuities). Growth on deferred annuities is tax-deferred, with income taxes due only when you take out money. (Note: A 10% federal tax penalty may apply to withdrawals taken before age 59½ .) Annuities generally provide other benefits as well, such as guaranteed death benefits and, with variable annuities, "living benefits" that can guarantee a potentially rising income that’s protected against market downturns. These benefits can guarantee retirement income as long as you live, or as long as you and your spouse live, regardless of market ups and downs. Living and death benefits may be optional, and available for an additional fee. Guarantees are backed by the claims-paying ability of the issuing insurance company.