Important Key Dates
You were recently informed that The Variable Annuity Life Insurance Company (VALIC) will no longer serve as the custodian of your Money Market Consolidator Individual Retirement Account (“IRA”). They have made arrangements for Millennium Trust Company to serve as your successor custodian, effective as of February 4, 2022 (the “Effective Date”), unless you elect otherwise.
- 2/2/22: Final day to make alternative election before transistion
- 2/4/22 - 2/9/22: Access to your new Millennium Trust account will be unavailable during this time to facilitate a smooth transition
- 2/10/22: You will be able to create a user profile and access your account on MTC Investment Platform
Empowering You with Choice & Flexibility
The MTC Investment Platform provides a streamlined experience making it easy to manage your account, and access to a wide array of investment choices, including treasury bills, bonds, stocks, ETFs, mutual funds and more.
Not sure where to begin? We’ve teamed with Morningstar Research Services LLC* to provide you with access to a curated list of investments based on market data and fund fact sheets to help you make informed decisions. This list is available to you once you log in to the platform.
Why is my account being transferred to Millennium Trust?
The Variable Annuity Life Insurance Company (VALIC) will no longer serve as the custodian of your Individual Retirement Account (“IRA”) and has made arrangements for Millennium Trust Company to serve as your successor custodian, effective as of February 4, 2022 (the “Effective Date”), unless you elect otherwise.
Will I receive a final statement from Valic?
Yes, you will receive a final account statement for your Money Market Consolidator IRA reflecting activity in your IRA for the portion of 2022 that your IRA was held there.
How is my account balance invested?
Your IRA is currently invested in the VALIC Company I Government Money Market I Fund. In connection with the transfer of your IRA, your assets will be initially invested in Millennium Trust’s cash sweep program, consisting of FDIC-insured, interest-bearing, demand accounts at one or more banking institutions unaffiliated with Millennium Trust, unless you direct otherwise by February 2, 2022.
Who do I contact about my Money Market Consolidator IRA or the transition?
If you have any questions regarding your existing Money Market Consolidator IRA, how to request a transfer or a distribution from your IRA or any other questions regarding the transition of your account to Millennium Trust, please contact the VALIC Client Care Center at 800.448.2542.
About Millennium Trust
For more than 20 years, Millennium Trust Company has been a trusted provider of specialized retirement and institutional custody services with 2.3 million accounts holding more than $37 billion of assets under custody. We began by focusing on building unique solutions where no one else would or could. As our industry has evolved and the competitive landscape has changed, Millennium Trust has grown, too.Learn More