SAVING : INVESTING : PLANNING March, 2010

Communication, Education and Investment Management for the Tennessee Optional Retirement Program

SAVING : INVESTING : PLANNING

2

VALIC Points to Consider

► VALIC Background► Participant Services► Investment Management► Contact Us

SAVING : INVESTING : PLANNING

3

► VALIC advantages■ More than $58 billion in assets■ Service for 2 million investors■ 2,000 FINRA licensed financial advisors■ 50 years of experience managing

tax-qualified retirement plans ■ Organizational stability and financial strength■ High levels of participant retention and

plan sponsor satisfaction ► Frequent communication of investment information► Increased participant understanding of

asset allocation► Consistent objective investment advice

VALIC Background

SAVING : INVESTING : PLANNING

4

(New)Retirement Education Center

Flexible alternative to in-person consultation

Retirement planning Asset allocation modeling At-retirement counseling Investment advisory

services Targeted education

programs Available Mon - Fri,

8 am - 8 pm ETSat, 10 am - 5 pm ET

Targeted Communication Materials

Literature Webcasts E-mail Video

Local Financial Advisor

Individual counseling Retirement planning At-retirement

counseling Seminars, workshops

and employee orientation meetings

Asset allocation modeling

Investment advisory services

(New)Custom Web Site

Easy account

access Transactional Online financial

planning and educational tools

Custom messaging

Plan-specific details

Client Care Center 24-hour automated voice

response system Client Service

Professionals available Mon-Fri, 8 am - 9 pm ET

150 CSPs Spanish-speaking staff AT&T language line

(all languages, real-time translation)

ExceptionalTechnology

Personal Service

Spectrum of Client Care

Participant Services

SAVING : INVESTING : PLANNING

5

Objective

Complete open architecture

with no proprietary mutual

fund requirements

Flexible

You may transfer your existing

balances to the new platform.

All contributions will be directed to

the new platform effective 7/1/2010

Best in Class Fund Line Up

23 New Low Cost Mutual Funds plus

VALIC Fixed Account. Name Brand

Fund Managers such as Vanguard,

PIMCO, Wells Fargo, and American

Funds.

Fund Selection & Monitoring

Fund Line Up picked from Universe

of 100 mutual fund families with

more than 5,200 mutual funds

Investment Management

SAVING : INVESTING : PLANNING

6

► Current rate: 3.6%*► Guaranteed minimum for 2010: 3.00%► Life of contract: 2.00%► Portfolio-based method of determining interest rate► Daily interest-rate crediting► A VALIC fixed annuity (policy no. GFA-504)

*VALIC declares a portfolio interest rate monthly for the Fixed-Interest Option. That declared portfolio interest rate is guaranteed until the end of the month and is credited to all new and old deposits as well as credited interest. The contractual lifetime minimum guaranteed interest rate is 2.00%; however, VALIC guarantees – for calendar year 2009 – a minimum portfolio interest rate of 3.25%. All interest is compounded daily at the declared annual effective rate. VALIC’s interest-crediting policy is subject to change, but any changes will not reduce the current rate below the contractually guaranteed minimum or money already credited to the account. Guarantees are subject to the claims-paying ability of the insurance company.

Investment Management

New General Account Fixed Interest Option

SAVING : INVESTING : PLANNING

7

Contact Us

► 14 Advisors State Wide► Visit www.valic.com► Call 800-44-VALIC