ING Initiative Helps Guide Investment Advisors through New Era of Retirement Income Planning

March 2, 2005 West Chester, PA Share: Print Subscribe to Email Alerts

ING Annuities today announced a new initiative to help financial advisors see their clients through the transition from saving for retirement to living in retirement. ING is tapping one of its greatest assets, the strength and scale of its wholesaling team, to provide financial advisors across the country with resources that may help them jump start a retirement income planning revolution, one person at a time.

ING research shows that Americans, in general, have been saving for retirement, but do not have a plan for turning their savings into lifelong retirement income, nor have they considered all the risks that may affect their "retirement paycheck." ING believes financial advisors will be a driving force in helping Americans understand these risks and solve retirement income challenges, especially for the first wave of Baby Boomers that will begin to retire in 2008.

"We hope to make a difference in the retirement future of America by creating awareness," said Harry N. Stout, president, ING Annuities. "We are passionate about getting people to start thinking about – and talking about – retirement income planning. We are personally reaching out to financial advisors and encouraging them to do the same with their clients – to talk about both retirement income challenges and possible solutions."

Through its research, ING identified a critical double-threat described as "America’s Income Challenge": Two-thirds of Americans do not know how much income they will need to live on during retirement, nor do they have a plan for "paying themselves" once they stop working. Most do not understand the financial risks of retirement either, such as investment risk, inflation risk and longevity risk. For example, industry data indicates that Baby Boomers have a 50-50 chance of living past age 90, but most do not have a plan in place to ensure adequate income for 25 or more years in retirement, according to ING research.

ING’s "Solving America’s Income Challenge" initiative provides financial advisors tools, guidance and support systems to better understand the realities of retirement income and what it may mean for their clients. Financial advisors interested in learning more about solving "America’s Income Challenge" can request a tool kit that includes useful information, as well as reference and marketing materials, from the company by calling 800-555-1885 or visiting www.ingannuities.com

Press inquiries

ING, Christina Divigard, 860.723.2293 orchristina.divigard@us.ing.com

About ING

ING is a global financial institution of Dutch origin offering banking, insurance and asset management to over 60 million private, corporate and institutional clients in more than 50 countries. With a diverse workforce of over 112,000 people, ING comprises a broad spectrum of prominent companies that increasingly serve their clients under the ING brand.In the U.S., the ING family of companies offer a comprehensive array of financial services to retail and institutional clients which include 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 http://www.ing.com.