1. City of Foster City Survey Key Findings
For review
August 24, 2017
Stephanie Seo
Senior Relationship Manager

2. Methodology
189 participants were invited to take an online satisfaction survey
Questions focused on overall satisfaction, as well as satisfaction with VALIC financial advisors, customer service, website, statements and Guided Portfolio Services (GPS)
The survey was open from June 10 – June 24
The survey link was sent out by the plan sponsor and was also included on the custom website
One was sent to the Retirement Committee
Two reminders were sent
There were 60 responses, 54 (90%) of which are in the deferred compensation plan
32% response rate

3. Key Findings
Nine in ten (88%) are very satisfied or satisfied with the information and service they receive from VALIC
78% of respondents are likely to recommend VALIC to friends and colleagues
Overall satisfaction with VALIC financial advisor is high with 92% very satisfied or satisfied
80% are satisfied with their VALIC financial advisors’ explanation of the City of Foster City Plan
89% are satisfied with their VALIC financial advisors’ ability to help with questions and periodic reviews
86% are satisfied their VALIC financial advisor has helped them understand the importance of preparing for retirement
53% have used the participant website:
93% agree it’s easy to navigate
Respondent are satisfied with their VALIC statements
82% find it informative
86% think it’s accessible in a timely manner
More than six in ten are satisfied with the investment plan lineup
Of the 39% who use Guided Portfolio Services (GPS), 68% agree their advisor is working to keep them on track

4. Detailed Findings

5. Overall satisfaction with information and service received is high
88% are very satisfied or satisfied
Participant satisfaction
In percentage of respondents
n = 52
Q: Please rate your overall satisfaction with the information and customer service you receive from VALIC.

6. Eight in ten (78%) respondents are likely to recommend VALIC
In percentage of respondents
n = 51
Q: How likely is it that you would recommend VALIC as a retirement plan provider to friends and colleagues?

7. 10% (10) of those invited to participate in the survey are not participating in the Plan
Reasons for not participating in deferred compensation plan
In number of respondents
Other
Investing on my own
Not a Foster City employee
Haven’t heard of it
n = 10
Q: Please let us know why you are not participating in the Plan.

8. Overall satisfaction with VALIC financial advisor is high (92%)
71% have been in contact with their VALIC financial advisor in the past 12 months
Satisfaction with VALIC financial advisor
In percentage of respondents
n = 37
Q: Overall, how satisfied are you with your VALIC financial advisor?.

9. Nine in ten are satisfied with their VALIC advisors’ availability to help with questions and reviews
Satisfaction with VALIC financial advisor’s ability
In percentage of respondents
n = 35 (respondents who have met with advisor in past 12 months)
Q: Please rate your satisfaction with your VALIC financial advisor's availability to help you with questions and periodic reviews.
Q: How satisfied are you that your VALIC financial advisor has helped you understand the importance of saving and preparing for retirement?
Q: How satisfied are you with your VALIC financial advisors’ explanation of your deferred compensation plan?

10. Three quarters are satisfied with the performance of a VALIC Client Service Professional (CSP) via the 800#
Only 8% of respondents have spoken to a CSP
Satisfaction with VALIC Client Service Professional
In number of respondents
n = 4
Q: Please rate your overall satisfaction level with the Client Service Professionals for their performance in the following areas.

11. 53% have used the website, two-thirds are very satisfied or satisfied
93% agree the website is easy to navigate
Satisfaction with VALIC participant website –In percentage of respondents
n = 27
Q: Please indicate how strongly you agree or disagree with the following statements about the website.

12. More than eight in ten are satisfied with participant statement information and accessibility
Satisfaction with VALIC participant statement
In percentage of respondents
n = 51
Q: Please indicate how satisfied you are with the following attributes of your VALIC statement.

13. Two-thirds are satisfied with the investment plan lineup
Satisfaction with VALIC investment plan lineup
In percentage of respondents
n = 49
Q: Please rate your level of satisfaction with the plan's investment lineup in the following areas.

14. 39% use Guided Portfolio Services
Two-thirds agree their VALIC advisor is keeping them on track
Agreement with VALIC Guided Portfolio Services
In percentage of respondents
n = 20
Q: Please indicate your agreement with each statement below.

15. Of those not using Guided Portfolio Services (61%), the majority are not familiar with the service (45%)
Reason for not using VALIC Guided Portfolio Services
In percentage of respondents
Other
Just have not utilized this service yet.
I couldn’t find information about it on the website.
n = 31
Q: Please let us know why you don't use the Guided Portfolio Services offered in your Deferred Compensation Plan.

16. Participant Comments

17. Is there anything else you’d like to tell us?
Topic
Verbatim
Advisor
I'm very satisfied with our VALIC representative and its services. I'm glad that my funds are with VALIC!
Geoff Akers is the best! He always provide the best customer service and he is excellent with what he does in helping me with any questions and concerns I have with my accounts. He is very helpful and knowledgeable. Thank you Geoff!
General
So far my experience has been neither good nor bad. I don't know that I would encourage anyone to go with VALIC. Unfortunately, being the only savings vehicle for deferred comp, it really isn't a choice.

18. Thank you

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