ING Launches My Retirement Outlook - Unique Web Planning Tool that Integrates Defined Benefit Analysis

ING's U.S. Retirement Services operations announced today that it has introduced a dynamic new web tool for customers - specifically education professionals using the ING Educator's Direct 403(b) offering in Delaware - to help them determine if they are on track to achieve their financial objectives in retirement.

The tool, My Retirement Outlook, takes a unique approach to retirement planning by providing both a retirement and a paycheck analysis function for users. It also integrates three main retirement income streams into the calculation: 1) traditional pension plan (defined benefit) assets, 2) Social Security benefits, and 3) personal savings.

"At ING, we're always listening to the needs of our business partners and customers in order to make planning for retirement easier, said Dan Hanlon, senior vice president of public market sales for ING U.S. Retirement Services. "Many educators tell us they don't fully understand the interaction between various savings and income sources, such as their 403(b) plans, Social Security and traditional pension benefits. We developed My Retirement Outlook to address these questions, and to provide a more holistic approach to the planning process."

Unique Features of My Retirement Outlook

Most calculators and web-tools today tell you how much you will need at retirement, but very few tell you whether you can afford to save that much on a per-paycheck basis. In addition, many do not incorporate traditional pension benefits. While an increasing number of corporate employers have eliminated defined benefit plans today, these plans still exist and play a vital role -- especially for the hundreds of thousands of ING plan participants employed by public school districts across the country.

My Retirement Outlook bridges this gap by seamlessly integrating pension benefits along with Social Security benefits and personal savings into the equation. In the retirement portion of the tool, users can estimate how much they need to save annually - and per paycheck - in order to reach their financial objectives. In the paycheck portion they can see how various savings amounts will impact their take-home pay today.

Enhancement to ING Educator's Direct 403(b) Program in Delaware

Educator's Direct is a variable annuity product issued by ING Life Insurance and Annuity Company. It is designed to help make retirement savings easier for education professionals by combining simplicity, convenience and cost-competitiveness. The product was first rolled out earlier this year to education employees at 39 institutions in the state of Delaware. School districts in other states are expected to get access to Educator's Direct in the coming months.

The Educator's Direct 403(b) menu consists solely of target-date funds. Employees choose a fund that aligns with their expected retirement year and professional portfolio managers adjust the asset allocation and investment mix over time to "automatically" become more conservative as the target date approaches.

Education employees can access ING Educator's Direct at any time that is convenient for them - education, enrollment, and account management are done entirely online. If they have questions while enrolling, help is just a phone call away. There are no minimums to get started, and fees are set up to be competitive for many educators, especially younger employees who are just starting out. The new My Retirement Outlook tool will be featured as an enhancement on the ING Educator's Direct website, which can be accessed at www.ingeducatorsdirect.com.

"Since 1967 ING has been proudly helping America's educators achieve their retirement goals," added Hanlon. "My Retirement Outlook and Educator's Direct are just two more examples of the dynamic ways we are committed to this market."

In addition to education employees in Delaware, My Retirement Outlook is available to anyone free of charge under the "Tools & Calculators" section of www.ingretirementplans.com, and it will also be featured on a number of other ING customer web sites. There is no registration required to use the calculator and no personal information is saved once the web browser is closed.

ING's U.S. Retirement Services operations holds top rankings in the defined contribution industry with more than 52,000 plan sponsors, approximately 7 million plan participants, and over $235 billion in assets under administration and management(1). ING serves all sizes and segments of the defined contribution market, including corporate, government, K-12, higher education and healthcare.

In the education market, ING provides retirement plans to approximately 7,800 K-12 school districts and more than 750 higher education organizations across the country. These plans serve nearly 660,000 education professionals and represent over $19 billion in assets.

  1.  Pensions & Investments, July 27, 2009.

  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 private, corporate and institutional clients in over 40 countries. With a diverse workforce of more than 110,000 people, ING is dedicated to setting the standard in helping our clients manage their financial future.

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 approximately 30 million customers across the nation. For more information, visit www.ing.com/US.

Insurance products, annuities and retirement plan funding issued by (third party administrative services may also be provided by) ING Life Insurance and Annuity Company. Securities are distributed by, and seminars and financial planning services offered by ING Financial Advisers, LLC (member SIPC), One Orange Way, Windsor, CT 06095. Securities may also be distributed through other broker-dealers with which ING Financial Advisers, LLC has selling agreements.

You should consider the investment objectives, risks, charges and expenses of the variable product and its underlying fund options carefully before investing. The prospectus containing this and other information can be obtained on the ING Educator's Direct website (www.ingeducatorsdirect.com). Please read the information carefully before investing.

Important Information: Variable annuities are long-term investments designed for retirement purposes. If withdrawals are taken prior to age 59-1/2, an IRS 10% premature distribution penalty tax may apply. Money taken from the annuity will be taxed as ordinary income in the year the money is distributed. Account values fluctuate with market conditions, and when surrendered the principal may be worth more or less than its original amount invested. An annuity does not provide any additional tax deferral benefit, as tax deferral is provided by the plan. Annuities may be subject to additional fees and expenses to which other tax-qualified funding vehicles may not be subject. However, an annuity does provide other features and benefits, such as lifetime income payments and death benefits, which may be valuable to you. For 403(b)(1) fixed or variable annuities, employee deferrals (including earnings) may generally be distributed only upon your: attainment of age 59-1/2, severance from employment, death, disability, or hardship. Note: Hardship withdrawals are limited to employee deferrals made after 12/31/88. Exceptions to the distribution rules: No Internal Revenue Code withdrawal restrictions apply to '88 cash value (employee deferrals (including earnings) as of 12/31/88) and employer contributions (including earnings). However, employer contributions made to an annuity contract issued after December 31, 2008 may not be paid or made available before a distributable event occurs. Such amounts may be distributed to a participant or if applicable, the beneficiary: upon the participant's severance from employment or upon the occurrence of an event, such as after a fixed number of years, the attainment of a stated age, or disability. For 403(b)(1) fixed or variable annuities, employee deferrals (including earnings) may generally be distributed only upon your attainment of age 59-1/2, severance from employment, death, disability, or hardship. Note: Hardship withdrawals are limited to employee deferrals made after 12/31/88. Exceptions to the distribution rules: No Internal Revenue Code withdrawal restrictions apply to '88 cash value (employee deferrals (including earnings) as of 12/31/88) and employer contributions (including earnings). However, employer contributions made to an annuity contract issued after December 31, 2008 may not be paid or made available before a distributable event occurs. Such amounts may be distributed to a participant or if applicable, the beneficiary: upon the participant's severance from employment or upon the occurrence of an event, such as after a fixed number of years, the attainment of a stated age, or disability.

The Educator's Direct 403(b) investment option menu consists solely of target-date funds. The target date is the approximate date when the investor plans to start withdrawing his/her money. Employees can choose a fund that aligns with their expected retirement year. Professional portfolio managers adjust the asset allocation and investment mix over time to "automatically" become more conservative as the target date approaches. The portfolios may merge with or change to other portfolios over time. As with all investments, there is no guarantee that any investment option will achieve its stated objective. Principal value fluctuates and there is no guarantee of value at any time, including the target date. When the target date is achieved, the investor may have more or less than the original amount invested. Investors should refer to the prospectus for more information about the specific risks of investing in the various assets classes included in the target-date funds.

First Call Analyst:
FCMN Contact:

SOURCE: ING Americas

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

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