VALIC
Reviews and Complaints

I have been waiting for the forms to with draw my funds. I am retired. I called on Aug 1, 2018 the rep said she would send form that day. It is now Aug 10th no paper. We called again ...she cant understand why we have not received it and will send out another.
I asked her what the procedure was once I received the form...she explained how I have to have it notarized and get a release from former employer. I asked was there a form online I could print off to use instead of waiting for the one she is go resend me..she said no. Then I asked if there is a number to fax the completed information to she said no it has to be mailed.
So to stay ahead of the ball, I called my former employer and asked who I would send it to and would I be able to fax the form to them. My former employer doesn't even know who to direct me to get the answer. So I will call another department at my former employer. I am confident they will work with me quickly. But after they release it and I send it back to Valic its going to be a good month and a half or longer. I am looking to see if their are any forms online to fill out and mail instead of waiting for the one she is going to resend...right resend...probably never sent in the first place. But I am only surmising that so I guess it doesn't count.

I submitted a application for hardship home forclosure on 7/9/2018. The rep denied my proof and requested need information i sent new information they denied it again. I sent new information and they accepted it however they now say they are on a block out and will not be able to Process the application as of 7/18 till 9/18z my complaint is that my application was signed and dated way before the block out and it is a hardship for foreclose nor did anyone communicate that there will be a block out and action should have been taken before the 18th. Poor communication and not ethical the way this was handle.

My former employer used Valic for its 401K/403B programs. After leaving the company and as I start to close in on retirement, Valic contacted me. They wanted to reach out to me to remove myself from the former employers account (and the low management fee) to move me into an annuity at a much higher management fee - 150 basis points. Industry standards are typically less than 100. Moving thru the process was easy. Valic provided all the paperwork digitally. When I noticed the excessive management fee, I decided it is more prudent to move out of Valic to a more affordable management fee and avoid annuities. Valic suddenly converted all digital exchanges into snail-mail... to slow down the process and get a couple more months of management fees from my account. Their answer as to "why" they could no longer digitally transmit information was simply that this is their rule.
So, this is a terrible company - they are not customer friendly. They tried to shift me into an annuity. They did not provide adequate education of other options. They tried to drive me into an egregious management fee which would cost me hundreds of thousands of dollars. And, they have created every possible barrier to transfer now that I am anxious to leave Valic. Horrific way to treat people. Simply terrible.

This is the worst company in terms of customer service; which leads me to believe they have even worse methods of what they claim they do, which is invest your money. I have tried, about 4 different times, to retrieve and transfer my funds to a different company. Each time, it seems, in an attempt to keep my business, they have failed to mail me the necessary papers; either that or I apparently haven't answered security questions, which is understandable, but are they really suggesting there are no measures in place to ensure security is maintained? There's isno other way you can verify that I am the real account holder? Hmm! . I'm reporting this company and their useless "supervisors."

I called today to return a phone call from Veronica and a lady named Shantee answered. i got my security question wrong which was frustrating but i understood so i tried to access online. well i needed an access code. So i called back she answered again and i guess she assumed i was trying to access my account over the phone again and before i could say what i was calling for, which was to ask what an access code was and where to get it, SHe hung up on me!I would like to believe it was an accident but she instantly changed her tone when i said my name. POOR CUSTOMER SERVICE. POOR EMPLOYEE. I called again and Lindsey was happy to help me.

Please do not do business with this company. They are helpful in getting you to invest. When you need your money you will get the runaround. Customer service at its worse.

They are much like ENRON! Buyer beware! AIG appears to be the mother of this company. I will never do business with this company again.

Investing in retirement is great, but you will have to be careful who you place your investments with. Do your homework!

Never Again Valic!

I seem to be having a problem getting my money from you. Every time there seems to be a different reason that no one has informed me of. If there was a problem someone could have called or sent me an email. Nobody did .I have faxed these papers twice. Nobody told me there was a problem. On the first pages I made a second copy of page 1 because there was not room to put 5 accounts on the one page .They are telling me there is a problem because the paperwork is incomplete. The paperwork was all there . They should have more spaces on the paperwork so you can put all of your accounts on one page. I really think they are wanting to charge me for overnight on every check they send, and they do not want me to get my money out. I am separated from Dci and I am over 55 so what is the problem? It is not your money it is mine that I have worked for not you. I have tried to be nice but you do not want to play nice. I really hate to be this way but I am so mad I can not stand it if this is the way your customersite are treated you do not need to be in business. I intend to call the security exchange commission, BBC and anyone else who will listen to me.

I needed a third-party signature for my $1, 200 loan, or so I thought. I called VALIC's customer service line and the man, barely listening to me, said no signature needed. Of course, he was wrong. Two weeks later, still no loan. I called back and was told of course, I needed that third-party signature. Three weeks later and numerous conflicting phone calls, my loan was finally "released, " even though VALIC said it could take up to 5 days to post to my bank despite ACH handling.
Why does VALIC have such a bad reputation? I'm guessing the richer you are, the more you invest = better customer service or a different 800 number. Either way, I froze my retirement account with them. Hope more middle-class people trying to survive follow suit. It's our money, not theirs! No more VALIC!

I had an incident with a customer service representative at this insurance company on August 7. There was a misunderstanding on my part when I asked a specific question to the death claims department. I asked for more clarification. This seemed to irritate the employee and the situation escalated. I was hoping for a quick resolution and a better understanding of what information I needed to supply. I had already filled out the same form earlier. I was blind-sided when I heard that there was no beneficiary to the account.
The lack of professionalism from this employee was staggering. Settling the estate of loved one is a learning process. The representative offered no clarification, was unresponsive to my statements and spoke condescendingly to me when he did. If the goal is to frustrate, belittle and create more distress for people then this is the company you want.

Since my mothers death I have been getting the runaround from your company saying they don't know how much is in the account and to contact the facility administrator which I have done to no avail. My mother hadn't worked at the facility for years and was involved in a workman's comp lawsuit even after her death. The facility also claimed they stopped dealing with your company some years before. You have mailed me paperwork, which I signed and sent her death certificate. I did my part, how come you don't know what's in the account, that's your job. Her name was Angela Martin her account number #6802700. My name is Andria Martin, you may reach me at [protected]. Thank you

I've been dealing with VALIC to roll over my retirement account into my current employer's program. I've been dealing with them for almost FIVE months. When I called to start the process, they said I did NOT need the "plan admin" signature. They sent the forms and the cover letter said I didn't need the "plan admin" signature. I sent all the paperwork and then I got a letter saying they DID. I called and they said I could send a "termination" letter instead. I got that from my horrible former employer and they FINALLY rolled over the money, but surprise surprise, it was only PART of my account (about 11% of the total I have with them). When I inquired, they told me I had two accounts. I had to do the paperwork ALL over again, including getting my spouse' signature notarized! On the paperwork, it again said my plan admin signature was not required. A few weeks later, I got a letter saying it IS required. I called to say "Can't you just use the letter I submitted last month?" They said yes. Then they called me back to say "No, they need the plan admin signature, AS WELL AS the new plan's admin signature." FIVE MONTHS VALIC. FIVE MONTHS THIS HAS TAKEN (AND COUNTING)!

Valic is giving me the runaround and multiple wild goose chases when I try to cash out my retirement account. Their customer service is a huge joke and they have never called me back.
Their fees are outrageously high and the service reps do not do what they promised they would do. They do nothing.
I have been trying to close my account for 6 months and just keep getting more hoops to jump through.
Never use Valic.

Valic is giving me the runaround when I try to close my account. They said that there is a "phone password" to be used when calling them. This password is separate from the online password. I don't recall setting one up. I think they are just stalling me. They said they will mail a password reset - but they should be able to email or fax this rather than use snail mail.

I have been trying for months to get my money rolled over into another account. I feel like my money has been taken hostage as Valic is one of the most difficult groups of people to work with. For years I paid into a 403B but now that I am retired I wanted to place the money into an IRA. Well, this should have been a simple process, but due to the incompetency of Valic's staff, I have yet to receive my roll over funds into my IRA. All they want me to do is complete the paperwork out again stating all sorts of inane reasons for needing the paperwork completed again. I actually cannot believe what they are doing is legal. I have investments in many companies and Valic is truly one of kind for how horribly they run their business. This is why I don't want my money with them, yet I did not realize it would be this difficult to retrieve my money and roll it over in another account. I feel like I have lost my money--and over the years, this is retirement money.

All I want to do is get my online account reset but I keep getting asked for my password well okay I forgot what I had said can't I be asked another security question like most companies do? Now I have to fax a request to remove the password just to ask about my online account! This quite a hassle your putting through I don't appreciate it. Not to mention your online service is not any better. Not happy

I had been out of work almost 6 months due to having a major surgery. I used up all of my sick/vacation time & savings and was no longer receiving pay through my employer. I am the sole provider for a family of 6 and had no income coming in. I contacted valic and was told i could withdraw money from my account due to an unforseeable emergency. The rep i spoke to emailed the paperwork. After reading through i discovered i did qualify for this withdrawl according to the guidelines. I faxed the paperwork back along with some medical paperwork proving I'd had surgery & my two recent paystubs showing my decrease in pay. After a week I called to check the status & was told the application was denied until further documentation was provided. I was told to provide a letter from my employer stating why i was not working, paystubs showing a decrease in pay, my w2 from last year, and a 1099 tax form. I asked the rep what a 1099 was and he stated it was my taxes. So I immediately faxed valic my last 13 paystubs, medical notes from my dr, leave of absence forms from my employer, my full 2016 tax return, and my 2016 w2. The next day, today, I called to make sure all forms were received & a very rude female rep told me the only thing i sent in that was acceptable was my leave of absence. According to this rep my paystubs were not acceptable because i sent 13 & they only wanted the last 5 ? My w2 was not a w2 but a worksheet even though it is a w2 printed from my govt employers tax page, & even though the instructions I was given expressly requested a 1099 form this rep tells me I wouldn't generally have a 1099 if i have a w2 ? And the whole time she's speaking to me she seems thoroughly annoyed & treats me like an idiot. So after hanging up I went back & faxed the 5 paystubs this woman stated were required & my w2. I can only imagine what I'll be told tomorrow. I've worked my job for 10 years a model employee & now I've had an emergency & had to call to get my own money & this woman treated me like absolute crap. I'm extremely dissatisfied with the service.

My mom passed away, Andi was asked for death certificate along with a completed claimant form all of was submitted in a timely fashion, and was recieved by your office on 4/3/17.A check was supposedly issued and sent out on 4/4/17. After several supposed attempts at delivery(I get a different answer every time, from one variation of the name "precious"Angel"or the like).Its been a total of 3yrs7months since the passing of my mother.So not only have you reopened a healing wound, the level of incompetence displayed by your previous's is appalling.It is now closing in on her birthday5/15, and have not recieved what normally takes 3 days to get.

These people are crooks! I left a former employer almost 5 year ago I have tried multiple time to have this money transferred to my current employer and they kept giving me the run around. I finally called again today to at least change the different funds that my account was in and they just told me today they can't do that because my account has not been fully activated. So for 8 got d%$# years the mf'ers have been hold my money in an account that was losing money and now they won't let me change it with out filling out yet another form this is BS. They need to be put in jail!

My company the Chicago Board of Education put my sick day payout in an account with Valic, which is a very bad idea.I was told by the Board that I could get my money any time without any problems.Well that is not the case.When I put in a request for some of my money Valic said they couldn't release my money because I was rehired by the Board which is not true.I am a sub.I tried to tell them that but they said they had to research the problem and another company said that I was working full time for the Board.They did not call me and tell me about the problem or even try to solve it until I called to check on my money.Customer service is the pits.They are trained to try to discourage you from taking out your money.You have to keep on calling and calling them in to get your problem solved.I wish the Board had just put my money in my bank account like they use to do.

On Friday, May 6, 2016, I faxed a withdrawal/distribution form to Valic 4300 W Cypress St Ste 1000, Tampa, FL 33607. I Did not hear anything from them, nothing about me needing to send additional information, not even a phone call until 2 days later and I made the contact. I sent an email to Joy @ 9:35 am on 5/10/16 to make sure she received the form, like I always done in the past. I thought it strange that I did not get an email from Joy that day. I received an email back from Diane @ 12:23 pm on 5/10/16 saying I need to send a voided check otherwise they will mail me a check. I checked Valic.com for the forms and could not find it, so @ 2:27 pm on 5/10/16 I emailed Diane the voided check. At 2:32 pm she sent me an email back saying she would submit now for processing.

So I waited from 5/6/16 until 5/11/16 @10:58 am I received an email from TSA saying they had received my form for processing, with a cc to (Eric Holmes). Okay I thought we on track and I should receive my deposit shortly. Still not hearing anything, I sent an email to Heather Bullock on 5/13/16 @ 10:53 am to find out the status of my request. She emailed me back on 5/13/16 @ 12:01 pm and I quote, (It’s in line for processing. On average it takes 3-6 business days for processing. At this time, we are averaging close to 400 faxes per day but we will get to it asap!)

I received the following email from TSA addressed to Ms. Johnston (wrong name) and it stated as follow: (Ms. Johnston, Thank you for your email. Your transaction was just approved yesterday and faxed to VALIC at [protected] as instructed on the form(s). Please follow-up with VALIC for their processing turn around time.)

A copy of this email was cc to Eric Holmes, along with others. He received the emails with no response to me the client to any of them. I have been a client of Valic for over 20 years and when Kelly and Joy were there I never had this kind of problem getting my funds. I do not appreciate being a part of a company who has issues with me getting my funds or is holding them. As long as I have been with Valic, it has only taken a week every time that I have requested funds.

I do not know what the problem is and frankly, at this point I do not care. In this day of internet, faxes, email and social media, I do not understand what the problem is. It has been 16 days and my request has not been processed yet. I am requesting that you find out why it took 3 days to leave your office and another three days for TSA to process and now 5/18/16 another 3 days and still not processed. I am highly disappointed with your company and I think this is poor customer service the way you all have handled this process. I like a response soon from this company.

As of 5/21/16, I have not gotten my funds deposited into my account and have not heard from my Consultant Eric Holmes, except to email me and tell me he was going to a meeting and for me to call him. Not him call me the client nor an appropriate respond to my email. I like to have all funds from my account returned to me so I do not have to deal with this company again.

This is the worst treatment I have ever received from Valic and I am so disappointed with this company and I will remove all funds and not do business with them anymore. The run around is so ridiculous and I just have a hard time with them, they have declined so badly.

I finally received an email from Eric Holmes as follows: (Ms. Johnson, I spoke to Diane who reiterated to me the facts that she shared in the email she sent dated May 17th. It seemed that she also apologized to you for our not making the transaction as smoothly as expected. I'm not sure if there is anything else for me to add. Sent from my iPhone) I would like to know exactly what happened with this process.

I finally received my deposit today 5/23/16 after noon. From 5/6/16 until 5/23/16, 18 days later.

Shirley Johnson