ING Unveils Enhanced Plan Review for Retirement Plan Sponsors

ING, a global financial services leader, today announced it has greatly enhanced its Defined Contribution Plan Review for its plan sponsor clients. As the decline in pension plans continues and questions surrounding the long-term viability of Social Security persist, maintaining a competitive defined contribution plan that's state-of-the art for its employees is more important than ever for sponsors.

"In addition to reviewing the plan features, the responsibilities of the fiduciary and possible regulatory changes that may affect their plan, the new plan review will provide benchmarks to the plan sponsor so they can see how their plan statistics measure up against the industry averages, and their own goals for plan level participation, contribution rates and asset allocation," said Lou Bachetti, senior vice president and head of sales, ING Defined Contribution. "Additionally, we will help clients build an action plan for the coming year, which can include tools, communication materials, and other solutions targeted to help them take actionable steps to impact various aspects of their plan."

For example, participation rates at one employer by 30-year-olds and younger may be less than the industry average benchmark. One action step the plan sponsor can take is to send out a special report entitled "The Cost of Waiting" to employees in that age group to encourage those that aren't participating to consider it. Or if, for example, the plan sponsor decides to add the Roth option to their plan, there are calculators and tools, along with specific educational materials that ING will provide to the employer to help them educate employees on the new offering.

The enhanced plan review, which generally happens on an annual basis, covers:

   - The roles and responsibilities of the fiduciary;
   - Plan features, including matching contribution, vesting schedules, loan
     provisions and other considerations that impact participation and
     contribution rates;
   - Industry benchmarks;
   - Regulatory and legislative updates;
   - An investment review that includes ING's proprietary Fund Evaluation
     Scorecard;
   - Spotlight on key topics relevant to the sponsor's plan; and
   - An action plan

"The sponsor's role as fiduciary of their retirement plan grows more complex every year," said Bachetti. "At ING, we want to help make it easier for them to manage their plan and help monitor their fiduciary liability. One critical component of that is to conduct an annual review to make sure the sponsor's plan is meeting its goals and industry benchmarks and that the sponsor is offering the most competitive plan it can to its employees."

   Press inquiries:
   Caroline Campbell, ING, 212-309-5931 or caroline.campbell@us.ing.com

  About ING

ING Group is a global financial institution of Dutch origin offering banking, insurance and asset management to more than 60 million private, corporate and institutional clients in more than 50 countries. With a diverse workforce of more than 113,000 people, ING comprises a broad spectrum of prominent companies that increasingly serve their clients under the ING brand.

In the U.S., the ING family of companies offers a comprehensive array of financial services to retail and institutional clients, which include life insurance, retirement plans, mutual funds, managed accounts, alternative investments, direct banking, institutional investment management, annuities, employee benefits, financial planning and reinsurance. ING holds top-tier rankings in key U.S. markets and serves more than 15 million customers across the nation. For more information, visit www.ing.com.

Lou Bachetti is a registered representative of and securities are offered through ING Financial Advisers, LLC (Member SIPC). Product and services are offered through the ING family of companies.

SOURCE: ING U.S. Financial Services

CONTACT: Caroline Campbell of ING, +1-212-309-5931, or
caroline.campbell@us.ing.com

Web site: http://www.ing.com/us