| Copyright: | (c) 2011 The Associated Press |
| Source: | Associated Press |
| Wordcount: | 782 |
customer demand,
service offerings to help defined contribution plan sponsors better
navigate their responsibilities under the Employee Retirement Income
Security Act (ERISA).
Through its relationship with
investment advisory firm and provider of plan sponsor consulting
services –
retirement plan customers. The service allows employers to delegate
fiduciary authority for the selection, ongoing monitoring and
replacement of the plan’s investments to
qualified “investment manager,” as defined by section 3(38) of ERISA.
Under the Portfolio Blueprint@ 3(38) service,
is appointed to manage the investment process for the plan, thus
relieving the sponsor of this fiduciary duty. The service will be
available to small and mid-sized companies that sponsor 401(k)
retirement plans, and it represents one of the fiduciary service
programs that customers can select from
offerings.
“What we’ve heard from our customers is a growing interest in
receiving expanded support to help them achieve their fiduciary plan
obligations under ERISA,” said
Markets for ING U.S. Retirement Services. “Employers often require
the assistance of a third party to ensure that good plan oversight
becomes even better. Portfolio Blueprint 3(38) is an invaluable
service to address key plan responsibilities, allowing sponsors to
focus more time on their business while helping participants achieve
positive retirement outcomes.”
With the Portfolio Blueprint@ 3(38) service,
acknowledges its role as a fiduciary, as set forth in ERISA section
3(38) with respect to the selection, monitoring and replacement of
plan investment options from those available through
“Plan investment selection and its ongoing oversight are important
fiduciary responsibilities for a plan sponsor,” noted
head of Small and Mid Corporate Markets for ING U.S. Retirement
Services. “We’re pleased to be making this new service available,
which is a natural extension of best-in-class fiduciary support. It
meets the needs of those employers who seek even greater help and
prefer to delegate the administration of a plan’s investment lineup to
an outside manager.”
“There’s a spotlight right now on retirement plan investment offerings
and the obligations and responsibilities of those who select and
advise on them,” said
for
continue to offer sponsors a diverse menu of high-quality investment
options while giving them the confidence that comes with the fiduciary
coverage from
manager to the plan.”
For more information on
including specific terms and availability, please contact ING Sales
Desk at 1-866-481-3653, option 4.
defined contribution industry with more than
assets under management and administration. It is one of the few
providers that serves all types and sizes of customers, including
corporate, government, healthcare, not-for-profit, K-12 and higher
education employers.
About
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 105,000 people,
is dedicated to setting the standard in helping our clients manage
their financial future.
In the U.S., the
comprehensive array of financial services to retail and institutional
clients, which includes life insurance, retirement plans, mutual
funds, managed accounts, alternative investments, institutional
investment management, annuities, employee benefits and financial
planning.
approximately 20 million customers across the nation. For more
information, visit http://www.ing.us.
of companies and receive no fee or other direct financial benefits
from
About
wholly owned subsidiary of
along with
comprise the
provides independent investment management and consulting services to
institutions and advisors and has approximately
assets under advisement and management as of
information, visit corporate.morningstar.com.
Neither
with
SOURCE
-0-
/CONTACT:
/Web Site: http://www.ing.us(NYSE:ING)
/ CO:
ST:
IN: FIN INS
SU: PDT
PRN
— CL15624 —
0000
More Articles