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17. Is it possible for employees to volunteer to exit and receive a severance package? No. AIG is currently not offering a voluntary severance package. 18. Can you comment on the recent announcement to change the retirement program in the U.S.? We recognize the impact of this pension change for U.S. employees. It was a hard decision and we want to assure our employees that we didn’t make this decision lightly. We did extensive research and found that AIG’s spending on employee retirement programs is materially higher than most of our peers, and that our programs are not in line with where the marketplace is headed. To partially mitigate the full impact of the freeze, AIG is increasing the company contributions to employees’ 401(k) accounts. Employees in the U.S. will see an additional 3 percent contribution in their AIG 401(k) accounts commencing with the first paycheck they receive in 2016 – even if they don’t contribute to the plan today.
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