Lawsuit Claims Fraud in Teacher Retirement Plan

Ouch, this one is going to really hurt VALIC. Of course, they changed their name to AIG Retirement......coincidence?

To be fair, I don't know all the facts in this case and won't pass judgement. But this is a good illustration of people using sales organization that are not held to a fiduciary duty to help with their finances......the organization is going to act in the organizations best interest.