WINDSOR, Conn., Feb. 25, 2013 /PRNewswire/ -- ING U.S. announced today that its Retirement business has been retained as the exclusive third-party administrator for the State of Connecticut Retirement Program.
ING U.S. has a long-standing relationship with Connecticut, which began in 1974. The program consists of a 457 deferred compensation plan and a 403(b) defined contribution plan, as well as a 401(a) alternate retirement plan. There are over $3 billion in assets under administration and approximately 55,000 participants in the combined plans.
As part of its commitment to advancing the retirement readiness of working Americans, ING U.S. will continue to provide employees of the state with access to industry-leading decision tools, as well as custom communication and financial education programs designed to engage and motivate employees to save.
In addition, employees will have access to an expanded investment lineup, which includes a selection of asset allocation portfolios that offer a customized strategy designed to meet specific investor profiles.
"We're honored that the state of Connecticut has continued to place its trust in our business and our people," said Jamie Ohl, president of Tax-Exempt Markets for ING U.S. Retirement. "This extension is a testament to the strength of our nearly 40-year relationship and the commitment we have to providing clients with the integrated capabilities and competitive value they want for the long-term. As a company with a significant history and presence in this state, we look forward to continue supporting public employees in Connecticut as they work towards building the readiness and financial security they need for retirement."
ING U.S.'s Retirement business holds top-tier rankings in the defined contribution industry. It is one of the few providers that serves all types and sizes of customers, including corporate, government, healthcare, K-12 and higher education employers.
About ING U.S.
ING U.S. constitutes the U.S.-based retirement, investment and insurance businesses of Netherlands-based ING Groep N.V. (NYSE: ING). Through the ING U.S. family of companies, we serve the financial needs of approximately 13 million individual and institutional customers with a comprehensive array of products and services, including retirement plans, IRA rollovers and transfers, stable value, institutional investment management, mutual funds, alternative investments, life insurance, employee benefits, fixed and indexed annuities and financial planning. Our dedicated workforce of more than 7,000 employees is focused on ING U.S.'s mission to make a secure financial future possible—one person, one family and one institution at a time. For more information, visit http://ing.us.
SOURCE ING U.S.