New 403(b) Plan Documents Ease Non-Profits' Transition Into IRS Regulatory Environment

New 403(b) Plan Documents Ease Non-Profits' Transition Into IRS Regulatory
Environment
ING brings its demonstrated 403(b) expertise to 501(c)(3) organizations

WINDSOR, Conn., May 21 /PRNewswire/ -- ING announced today that it now
will make available 403(b) plan documents to employers in the
non-profit sector, to help make it easier for them to adopt the new IRS 403(b)
requirements by the January 1, 2009 deadline.
Last year, the IRS issued final regulations concerning 403(b) tax-deferred
annuity retirement programs, considerably impacting the way they would be
expected to operate in the future. For the first time, federal law mandated
that all sponsors of a 403(b) program, including 501(c)(3) employers, have a
formal, written document in place that would govern their retirement plan.
The move to provide 403(b) plan documents to the non-profit arena is the
latest step that ING has taken to expand its footprint in the tax-exempt
market, continuing its efforts to help plan sponsors take the stress out of
complying with the new IRS regulations.
"We are committed to helping all 403(b) plan sponsors meet the new IRS
rules," says Linda Segal Blinn, ING's Vice President of Technical Services.
"The ING 403(b) plan documents, coupled with both our local presence and
dedicated 403(b) expertise, distinguish ING in the marketplace."
Staying current with the many updates necessitated by statutory or
regulatory changes can present a significant challenge for many employers in
the non-profit sector. By choosing to adopt an ING 403 (b) plan document,
employers will have the confidence that ING is committed to keeping them
informed. Any required updates due to regulatory changes or enhancements will
be provided automatically.
In March, ING was among the first 403(b) providers to offer plan documents
to public school districts seeking a better understanding of the new
regulatory environment. ING also was among the first to provide plan sponsors
with a toolkit to help them meet the new IRS information sharing requirements,
which took effect last fall. Now, ING's 403(b) plan documents for non-profit
organizations will help them to fulfill their obligations under by the new IRS
rules.
ING has been a service provider to 403(b) sponsors and their employees
since 1967. With nearly one million individuals participating in our 403(b)
investment vehicles, ING understands the demands placed upon public schools
and 501(c)(3) hospitals and not-for-profit organizations, and the everyday
challenges they must meet with limited resources.
501(c)(3) organizations can obtain the ING 403(b) plan document and other
tools to help make complying with the regulations easier by visiting ING's
dedicated 403(b) regulations solutions website, www.ing.com/us/403bregs, or by
contacting their local representative.
Press enquiries:
Deborah Pont
ING US Wealth Management
860.580.2678
deborah.pont@us.ing.com

About ING:
ING is a global financial institution of Dutch origin offering banking,
insurance and asset management to over 75 million private, corporate and
institutional clients in more than 50 countries. With a diverse workforce of
over 120,000 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 offer 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 14 million customers
across the nation. For more information, visit www.ing.com. C08-0519-009R
SOURCE ING US Wealth Management

Deborah Pont, ING US Wealth Management, +1-860-580-2678,
deborah.pont@us.ing.com