Service Provider Fee Disclosure

Transcription

1 Service Provider Disclosure Variable Investment Options Table WILLAMETTE UNIVERSITY WILLAMETTE UNIVERSITY DEFINED CONTRIBUTION RETIREMENT PLAN PORTFOLIO DIRECTOR (A048) UITG-194-TRMC As Of Date: 7/17/2012 Management s VALIC Company I A B C D E F G H I J 12(b)-1 s ASSET ALLOCATION FUND [0005] BLUE CHIP GROWTH FUND [0072] BROAD CAP VALUE INC [0075]* CAPITAL CONSERVATION [0007] CORE EQUITY FUND [0015]* DIVIDEND VALUE [0021] EMERGING ECONOMIES [0087] FOREIGN VALUE [0089] GLOBAL REAL ESTATE FUND [0101] GLOBAL SOCIAL AWARENESS FUND [0012]* GLOBAL STRATEGY [0088] GOVERNMENT SECURITIES FUND [0008] GROWTH & INCOME FUND [0016]* GROWTH FUND [0078] HEALTH SCIENCES FUND [0073] INFLATION PROTECTED FUND [0077] INTERNATIONAL EQUITIES FUND [0011] INTERNATIONAL GOVERNMENT BOND [0013] INTERNATIONAL GROWTH FUND [0020] LARGE CAP CORE [0076]* Account Option s For Plan Sponsor Use Only Service Provider Disclosure - Annuity Charts Page 1 of 6

2 PORTFOLIO DIRECTOR (A048) UITG-194-TRMC As Of Date: 7/17/2012 Management s 12(b)-1 s LARGE CAPITAL GROWTH [0079]* MID CAP INDEX FUND [0004] MID CAP STRATEGIC GWTH [0083]* MONEY MARKET I FUND [0006]***,**** NASDAQ-100(R) INDEX FUND [0046] SCIENCE & TECHNOLOGY FUND [0017]* SM CAP AGGRESSIVE GWTH [0086]* SMALL CAP FUND [0018]* SMALL CAP INDEX FUND [0014] SMALL CAP SPECIAL VALUE FUND [0084]* SMALL MID GROWTH FUND [0085]* STOCK INDEX FUND [0010] VALUE FUND [0074] VALIC Company II A B C D E F G H I J AGGRESSIVE GROWTH LIFESTYLE [0048]** CAPITAL APPRECIATION FUND [0039] CONSERVATIVE GROWTH LIFESTYLE [0050]** CORE BOND FUND [0058] HIGH YIELD BOND FUND [0060] INTL OPPORTUNITIES [0033] LARGE CAP VALUE FUND [0040] MID CAP GROWTH FUND [0037]* MID CAP VALUE FUND [0038]* MODERATE GROWTH LIFESTYLE [0049]** MONEY MARKET II FUND [0044]***,**** SMALL CAP GROWTH FUND [0035]* SMALL CAP VALUE FUND [0036]* SOCIALLY RESPONSIBLE FUND [0041] STRATEGIC BOND FUND [0059] Public A B C D E F G H I J Account Option s For Plan Sponsor Use Only Service Provider Disclosure - Annuity Charts Page 2 of 6

3 PORTFOLIO DIRECTOR (A048) UITG-194-TRMC As Of Date: 7/17/2012 Management s 12(b)-1 s AM BEAC HOLLAND LG CAP GROWTH [0070] ARIEL APPRECIATION FUND [0069] ARIEL FUND [0068] SUNAM 2020 HIGH WATERMARK [0082] VANGUARD LIFESTRATEGY CONSER [0054]** VANGUARD LIFESTRATEGY GROWTH [0052]** VANGUARD LIFESTRATEGY MODERA [0053]** VANGUARD LONG-TERM TREASURY [0023] VANGUARD LT INV-GRADE FUND [0022] VANGUARD WELLINGTON FUND, INC. [0025] VANGUARD WINDSOR II [0024] Account Option s Disclosures, Definitions, and Notes ****An investment in a money market fund is not insured by the Federal Deposit Insurance Corporation or any other government agency. Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund. Management s are paid to the investment adviser of the fund. 12(b)-1 s are the annual distribution and marketing fees paid by the fund as described in the fund's prospectus. These are paid to VALIC or an affiliate for marketing and distribution services. Participants receive an offsetting reduction in the separate account fee as applicable to amounts allocated to that fund option. include expenses related to administrative and shareholder services provided to the fund, such as accounting, audit, compliance, custody, legal and other shareholder-related services. apply to a fund that invests in underlying funds and reflects the relevant portion of the fees for those underlying funds. before equal the sum of Column A through Column D. - Pursuant to an expense limitation agreement, the fund's adviser will waive fees or reimburse expenses as shown in this column. s are subject to change based on. equal the less (Column E less Column F). compensates the contract issuer for a combination of guarantees and services, including mortality guarantees, expense guarantees, administration and distribution. This fee also reflects an offsetting reduction for 12(b)-1 fees or, where applicable, for non-12(b)-1 service fees or a portion of the recordkeeping fees received from a fund affiliate. Account Option s equal the plus the s (Column G plus Column H). includes the relevant portion of the amounts itemized above plus any additional compensation to VALIC or an affiliate (including SunAmerica Asset Management Corp. and other related parties) including compensation for sub-advisory, shareholder, transfer agent, administrative, and recordkeeping services. Where applicable, this compensation ranges from 0.06% to 0.48% per fund and is included in the (Column J). The above fund fees are not applicable to the fixed investment options. Annuities are long-term investments. Income taxes are payable upon withdrawal. Federal restrictions and tax penalties can apply to early withdrawals. Annuity contracts typically include limitations, exclusions and expense charges, which are described in the current annuity contract and where applicable, prospectus, and elsewhere in this document. For Plan Sponsor Use Only Service Provider Disclosure - Annuity Charts Page 3 of 6

4 Retirement plans and accounts that satisfy relevant qualification rules, such as 403(b)s, IRAs, 401(k)s, etc., can be tax deferred regardless of whether or not they are funded with an annuity. If you are considering funding a tax-qualified retirement plan or account with an annuity, you should know that an annuity does not provide any additional tax-deferred treatment of earnings beyond the tax deferral of the tax-qualified retirement plan or account itself. However, annuities do provide other features and benefits. Trading may be limited based on VALIC's Investor Trading policy which is available online at s may impose additional limitations on the number of trades in and out of the fund. Please see the fund's prospectus for more information. Pursuant to an expense limitation agreement, the fund's adviser will waive fees or reimburse expenses as shown in the column above. The expense waivers or reimbursements are contractual and will continue through September 30, 2012 for VALIC Company I funds; December 31, 2012 for VALIC Company II funds; April 30, 2014 for the American Beacon Holland Large Cap Growth ; February 28, 2013 for the Invesco Balanced-Risk Commodity Strategy ; and indefinitely for the SunAmerica High Watermark s. Although the expense limitations may be renewed year to year, they are subject to termination by the Boards of Trustees/Directors of the funds. Not all of these funds are listed in the chart above. Certain of these funds may not be available in your plan or product. Policy Form series UIT-194, UITG-194 and UITG-194P, a fixed and variable annuity issued by The Variable Annuity Life Insurance Company, Houston, Texas. *Through a commission recapture program a portion of the funds' expenses have been reduced. "" does not take into account this expense reduction and is therefore higher than the actual expenses of the series. Had the expense reductions been taken into account, "Net Expenses" for the VALIC Company I funds would be as follows: Broad Cap Value Income, 0.84%, Core Equity, 0.79%; Global Social Awareness, 0.66%; Growth & Income, 0.84%; Large Cap Core, 0.84%; Large Capital Growth, 0.77%; Mid Cap Strategic Growth, 0.82%, Science & Technology, 1.01%; Small Cap Aggressive Growth, 0.95%; Small Cap, 0.92%; Small Cap Special Values, 0.89%; and Small-Mid Growth, 0.98%; and for the VALIC Company II funds, as follows: Mid Cap Growth, 0.84%; Mid Cap Value, 1.03%; Small Cap Growth, 1.15%: and Small Cap Value, 0.94%. Not all of these funds are listed in the chart above. Certain of these funds may not be available in your plan or product. **The VALIC Company II Lifestyle s invest in the funds offered in VALIC Company I and VALIC Company II. The Vanguard LifeStrategy s invest in other Vanguard funds. Thus, each " of s" indirectly bears the fees and expenses of those acquired funds, which fees and expenses are shown in the & Expenses column and are also reflected in each fund's. ***For the last fiscal year, VALIC voluntarily waived fees or reimbursed expenses for the Money Market I in the amount of 0.28% which resulted in of 0.24%, and for the Money Market II in the amount of 0.35% which resulted in of 0.20%. These waivers and/or reimbursements are voluntary and may be discontinued at any time by VALIC. For Plan Sponsor Use Only Service Provider Disclosure - Annuity Charts Page 4 of 6

5 INDEPENDENCE PLUS (A040) UITG-585 As Of Date: 7/17/2012 Management s VALIC Company I A B C D E F G H I J 12(b)-1 s ASSET ALLOCATION FUND [0005] CAPITAL CONSERVATION [0007] GLOBAL SOCIAL AWARENESS FUND [0012]* GOVERNMENT SECURITIES FUND [0008] INTERNATIONAL EQUITIES FUND [0011] INTERNATIONAL GOVERNMENT BOND [0013] MID CAP INDEX FUND [0004] MONEY MARKET I FUND [0006]***,**** SMALL CAP INDEX FUND [0014] STOCK INDEX FUND [0010] Account Option s Disclosures, Definitions, and Notes ****An investment in a money market fund is not insured by the Federal Deposit Insurance Corporation or any other government agency. Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund. Management s are paid to the investment adviser of the fund. 12(b)-1 s are the annual distribution and marketing fees paid by the fund as described in the fund's prospectus. These are paid to VALIC or an affiliate for marketing and distribution services. Participants receive an offsetting reduction in the separate account fee as applicable to amounts allocated to that fund option. include expenses related to administrative and shareholder services provided to the fund, such as accounting, audit, compliance, custody, legal and other shareholder-related services. apply to a fund that invests in underlying funds and reflects the relevant portion of the fees for those underlying funds. before equal the sum of Column A through Column D. - Pursuant to an expense limitation agreement, the fund's adviser will waive fees or reimburse expenses as shown in this column. s are subject to change based on. equal the less (Column E less Column F). compensates the contract issuer for a combination of guarantees and services, including mortality guarantees, expense guarantees, administration and distribution. This fee also reflects an offsetting reduction for 12(b)-1 fees or, where applicable, for non-12(b)-1 service fees or a portion of the recordkeeping fees received from a fund affiliate. Account Option s equal the plus the s (Column G plus Column H). includes the relevant portion of the amounts itemized above plus any additional compensation to VALIC or an affiliate (including SunAmerica Asset Management Corp. and other related parties) including compensation for sub-advisory, shareholder, transfer agent, administrative, and recordkeeping services. Where applicable, this compensation ranges from 0.06% to 0.48% per fund and is included in the (Column J). The above fund fees are not applicable to the fixed investment options. Annuities are long-term investments. Income taxes are payable upon withdrawal. Federal restrictions and tax penalties can apply to early withdrawals. Annuity contracts typically include limitations, exclusions and expense charges, which are described in the current annuity contract and where applicable, prospectus, and elsewhere in this document. For Plan Sponsor Use Only Service Provider Disclosure - Annuity Charts Page 5 of 6

6 Retirement plans and accounts that satisfy relevant qualification rules, such as 403(b)s, IRAs, 401(k)s, etc., can be tax deferred regardless of whether or not they are funded with an annuity. If you are considering funding a tax-qualified retirement plan or account with an annuity, you should know that an annuity does not provide any additional tax-deferred treatment of earnings beyond the tax deferral of the tax-qualified retirement plan or account itself. However, annuities do provide other features and benefits. Trading may be limited based on VALIC's Investor Trading policy which is available online at s may impose additional limitations on the number of trades in and out of the fund. Please see the fund's prospectus for more information. Pursuant to an expense limitation agreement, the fund's adviser will waive fees or reimburse expenses as shown in the column above. The expense waivers or reimbursements are contractual and will continue through September 30, 2012 for VALIC Company I funds; December 31, 2012 for VALIC Company II funds; April 30, 2014 for the American Beacon Holland Large Cap Growth ; February 28, 2013 for the Invesco Balanced-Risk Commodity Strategy ; and indefinitely for the SunAmerica High Watermark s. Although the expense limitations may be renewed year to year, they are subject to termination by the Boards of Trustees/Directors of the funds. Not all of these funds are listed in the chart above. Certain of these funds may not be available in your plan or product. Policy Form UIT-585 and UITG-585, a fixed and variable annuity issued by The Variable Annuity Life Insurance Company, Houston, Texas. *Through a commission recapture program a portion of the funds' expenses have been reduced. "" does not take into account this expense reduction and is therefore higher than the actual expenses of the series. Had the expense reductions been taken into account, "Net Expenses" for the VALIC Company I funds would be as follows: Broad Cap Value Income, 0.84%, Core Equity, 0.79%; Global Social Awareness, 0.66%; Growth & Income, 0.84%; Large Cap Core, 0.84%; Large Capital Growth, 0.77%; Mid Cap Strategic Growth, 0.82%, Science & Technology, 1.01%; Small Cap Aggressive Growth, 0.95%; Small Cap, 0.92%; Small Cap Special Values, 0.89%; and Small-Mid Growth, 0.98%; and for the VALIC Company II funds, as follows: Mid Cap Growth, 0.84%; Mid Cap Value, 1.03%; Small Cap Growth, 1.15%: and Small Cap Value, 0.94%. Not all of these funds are listed in the chart above. Certain of these funds may not be available in your plan or product. ***For the last fiscal year, VALIC voluntarily waived fees or reimbursed expenses for the Money Market I in the amount of 0.28% which resulted in of 0.24%, and for the Money Market II in the amount of 0.35% which resulted in of 0.20%. These waivers and/or reimbursements are voluntary and may be discontinued at any time by VALIC. To obtain a prospectus, visit or call The prospectus contains the investment objectives, risks, charges and expenses, and other information about the investment company, which you should consider carefully before investing. Please read the prospectus carefully before investing or sending money. Securities and investment advisory services are offered by VALIC Financial Advisors, Inc., member FINRA and an SEC-registered investment advisor. VALIC represents The Variable Annuity Life Insurance Company and its subsidiaries, VALIC Financial Advisors, Inc. and VALIC Retirement Services Company. For Plan Sponsor Use Only Service Provider Disclosure - Annuity Charts Page 6 of 6