ING Extends Relationship With Ohio Public Employees Retirement System

ING Institutional Plan Services (ING) announced that the Ohio Public Employees Retirement System (OPERS) has extended its contract with ING for the administration of the system's member-directed defined contribution plan and a hybrid defined benefit/defined contribution plan called the combined plan.

"We appreciate the confidence that OPERS has in ING, and we look forward to continuing to work closely with their members to help them achieve their retirement goals," said Sandy McCarthy, president of ING Institutional Plan Services.

Both the combined and member-directed defined contribution plans, introduced six years ago, provide an option for public employees in Ohio who want to manage their own investments. A portion of employer contributions for the member-directed plan is credited to a retiree medical account, which may be used for the payment of qualified health care expenses after separation from service.

The plans have about $200 million in assets and 16,500 participants.

ING will continue to provide all recordkeeping for the defined contribution plans as well as award-winning communications and education program support.

The new contract began January 1, 2009.

"We have been very satisfied with the service we have received for these plans, as well as the personalized attention to our members who participate," said Bill Damsel, assistant director - Defined Contribution for OPERS.

ING's U.S. Retirement Services business has a leadership position in a wide range of businesses, including defined contribution retirement plans, defined benefit pension plans, retirement income solutions, managed accounts, retirement plan rollovers, stable-value programs, as well as a health and welfare operation. It ranks as the largest defined contribution business in the U.S. based on number of plans, the second largest based on number of plan participants, and the third largest based on combined assets under management and administration, with more than U.S. $300 billion.(1)

  (1) 2008 PLAN SPONSOR record keepers survey data.


  Press inquiries:
  Joe Loparco
  ING Americas
  Office: 860.580.2677
  Cell:  860.462.6525
  joseph.loparco@us.ing.com


  About ING

ING is a global financial institution of Dutch origin offering banking, investments, life insurance and retirement services to over 85 million residential, corporate and institutional clients in more than 50 countries. With a diverse workforce of about 130,000 people, ING comprises a broad spectrum of prominent companies that increasingly serve their clients under the ING brand.

In the U.S., the ING (NYSE: ING) family of companies offers a comprehensive array of financial services to retail and institutional clients, which includes 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 over 29 million customers across the nation. For more information, visit www.ing.com.

Plan administrative services provided by ING Institutional Plan Services, LLC.

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SOURCE: ING

CONTACT: Joe Loparco, ING Americas, Office: +1-860-580-2677, or Cell:
+1-860-462-6525, joseph.loparco@us.ing.com

Web Site: http://www.ing.com/