New ING U.S. Financial Benchmarking Tool Lets Users 'Score' their Retirement Savings

Fri Feb 22, 2013 9:00am EST

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Online resource promotes education, awareness and the importance of retirement
readiness; Supports broader goals of America Saves Week 2013
WINDSOR, Conn.,  Feb. 22, 2013  /PRNewswire/ -- ING U.S. has expanded its suite
of innovative retirement saving, planning and education resources with a new
web-based financial benchmarking tool,  ING My Savings Score.  The easy-to-use
self-service tool, available to the public at  INGMySavingsScore.com, allows
users to "score" their personal retirement preparedness by comparing their
current savings to a prescriptive target, based on age and annual income.

After entering their age, income and retirement savings information, individuals
are shown a personalized savings score that reflects the amount of their
retirement savings as a multiple of their annual income.  ING My Savings Score
also gives users a side-by-side comparison to a benchmark that suggests how much
they should estimate having saved for retirement today.  This benchmark, or
target score, is calculated from a table of aged-based savings factors using
certain assumptions.1

As with many of its self-service tools and resources, ING My Savings Score is
another thought-provoking way ING U.S. is raising awareness about the need to
save for retirement.  While not a replacement for financial or retirement
planning advice, this this tool can serve as a starting point for a conversation
with a financial professional.  After receiving their score and some basic tips,
the ING My Savings Score site lets individuals connect to more information and
planning tools from ING U.S. if they are interested.

"Many people today realize they should be doing more to prepare for their
retirement.  At the same time, they're feeling overwhelmed, lacking confidence
and looking for help.  This includes help from simple, self-service tools and
resources that can get them started," said  Maliz Beams, CEO of ING U.S.
Retirement Solutions.  "ING U.S. is committed to investing in resources, like
ING My Savings Score, that can get people thinking about their savings needs and
jump start the process to better retirement readiness."   

ING U.S. launched the ING My Savings Score tool in conjunction with  America
Saves Week, which takes place February 25 - March 2.  This annual initiative
promotes good savings behavior and reminds individuals about the importance of
regularly assessing their saving status.  As a leading retirement company and
avid supporter of  America Saves Week, ING U.S. believes this message is
especially important when it comes to advancing the state of retirement
readiness in our country.  

ING U.S. has also incorporated the ING My Savings Score tool into an education
and awareness program for  America Saves Week  that extends to its more than
49,000 workplace retirement plan sponsors, 5.3 million customers, and the many
financial professionals that serve them.  The program provides a broad selection
of print and electronic materials that employers and financial professionals can
use to help educate employees about the importance of saving for the long-term. 
 

ING My Savings Score complements another web-based resource, the  ING State of
Savings  interactive map, available at  INGStateofSavings.com, which ING U.S.
recently launched.  This map provides a state-by-state scan and ranking of how
Americans say they are saving across the country.  The broader perspective
provided by ING State of Savings and the personalized perspective offered by ING
My Savings Score represent two approaches that, together, can inform, engage and
inspire individuals to make positive changes now so they can work towards
enjoying a comfortable retirement down the road.  

As an industry leader and advocate for retirement education and saving, ING U.S.
is committed to the mission of making a secure financial future possible - one
person, one family, one institution at a time.  For more information on these or
other ING U.S. financial awareness tools, visit 
http://ing.us/individuals/retirement.

1 Savings factors are based on retirement at age 67 with pre-tax savings to
provide income for 23 years at a 50% wage replacement rate; current income with
a 3% annual increase; 26 pay periods per year with a 10% contribution to a
tax-deferred retirement account each pay period; an annual inflation rate of 3%
both pre- and post-retirement; and a hypothetical investment rate of return of
6% pre-retirement and 4% in retirement.  The savings factor does not include any
amounts individuals may be eligible for from Social Security or other retirement
benefits.

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.


Emily Dawe , ING U.S. , +1-860-580-1750, office, +1-203-589-7688, cell,
Emily.Dawe@us.ing.com

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