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Hahn said she invited proposals from several firms to serve as administrator and recommended Variable Annuity Lite Insurance Co. (VALIC), a subsidiary of American International Group, known as AiG. The parent company. AIG. was pulled from the brink of bankruptcy last month by an
million emergency Federal loan.
In response to questions from board member Rosa Crocker uf Wakefield District. Hahn assured board members that the problems of parent company AIG did not affect the soundness of VALIC. and that VALIC is among the assets that AIG has put up tor sale in order to raise motiev to pay back the
37.7%