VALIC Fixed Interest Option Now Available on ASPire RK Platform

ASPire Financial Services has added to its recordkeeping platform a VALIC product that it says offers participants a strong financial foundation, competitive yields, and greater assurance.

According to a press release, the VALIC Fixed Interest Option (FIO) trades like a mutual fund and guarantees a rate of return, backed by the claims-paying ability of The Variable Annuity Life Insurance Company. ASPire Financial Services provides a solution to clients dealing with low money-market rates, inflation and fees through the availability of this product, the company claimed.

“This Fixed Interest Option can be an attractive alternative to other stability focused investments since it offers similar liquidity and currently a much higher crediting rate,” said Greg Garvin, VALIC executive vice president, in the announcement.