ING Launches Educators' Financial Analysis Tool

October 18, 2005 Hartford, CT Share: Print Subscribe to Email Alerts

ING today announced the launch of the Educators’ Financial Analysis (EFA) tool, which offers educators a financial needs and solutions calculator to help them plan for their financial security. The EFA provides comprehensive information about the defined benefit options available to educators and illustrates how these options work with their defined contribution plan (403(b) and/or 457). It also details catch-up provisions for those who are close to retirement.

The EFA tool is an interactive, state-specific presentation that financial advisors can share with their clients. The 10-15 minute presentation clearly articulates investment concepts (i.e. the cost of waiting, power of tax-deferred savings, etc.) and reviews the state-specific retirement DB features. The EFA’s embedded financial calculator provides a benefit estimate for the educator’s define benefit system, estimates social security retirement benefits (if applicable) and details the savings amount or rate of return needed in a defined contribution plan to reach a specific retirement goal.

“It’s important for educators to be able to look at their retirement plan from a comprehensive perspective,” said Bill Jasien, senior vice president and head of education distribution, ING. “This new tool enables educators to look at all of their retirement income sources at one time with their financial professional so they can tailor their savings and investments for their specific situation. The tool – which looks at income sources vs. income needs, will clearly articulate if there is an income “gap” for educators, allowing them to determine what steps to take to reach their retirement income goals.”

For more information on the EFA tool, contact your local ING Education representative.

Press inquiries

Caroline Campbell, ING, 770.618.3801 caroline.campbell@us.ing.com

About ING

ING Group is a global financial institution of Dutch origin offering banking, insurance and asset management to more than 60 million private, corporate and institutional clients in more than 50 countries. With a diverse workforce of more than 112,000 people, ING comprises a broad spectrum of prominent companies that increasingly serve their clients under the ING brand.

ING is a leader in providing 403(b) plans to kindergarten through 12th grade educators and other employees of nonprofit organizations in America. In the U.S., ING offers a comprehensive array of financial services to retail and institutional clients that includes retirement plans, mutual funds, managed accounts, alternative investments, direct banking, institutional investment management, annuities, life insurance, employee benefits, financial planning, and reinsurance. Currently, ING holds top-tier rankings in key U.S. markets and serves more than 14 million customers across the nation. For more information, visit www.ing.com.