ING Unveils New Platform and Support Program for TPA Partners
ING’s U.S. Retirement Services operations has rolled out a number of new initiatives that further support its valued relationships with third party administrator (TPA) partners.
As part of the company’s fourth annual TPA Partners Advanced Training Forum, held last month in Connecticut, ING introduced an enhanced TPA Website which, among other things, features on-demand and automated reporting capabilities and streamlined loan and distribution processing. ING also showcased its new Payroll Administration tool, an electronic payroll interface that seamlessly connects to ING’s recordkeeping system and the enhanced TPA Website. Functions such as these are increasingly important for making a TPA’s job easier and providing greater value to clients.
Attendees at the Advanced Training Forum were able to see technology demonstrations for all of these features and to provide feedback and input into shaping ING’s TPA service model. ING also unveiled a number of enhanced marketing arrangements, including improved pricing for plans under $1 million, incentives for new plans received by the end of October with assets under $500,000, and significant pricing reductions on ING’s Multiple Asset Portfolio (MAP) Select product for sale to qualified plans with less than 500 employees. In addition, ING has incorporated the plan sponsor fiduciary service, Portfolio Blueprint, provided by Morningstar Associates, LLC into the core product offering for new sales at no additional charge.
“The Forum, which we designed purely with the plan administrator in mind, was a terrific venue to showcase our new platform, system capabilities and program enhancements,” said Ralph DelSesto, National Director of TPA Strategy for ING. “ING is constantly focused on making things ‘easier’ for our partners and customers. Our commitment to the TPA community has never been stronger, and we’re dedicated to helping them grow their business through training, improved technology and product and service enhancements like these.”
The Advanced Training Forum is just one of several TPA-focused events that ING offers or supports throughout the year. ING also hosts two TPA Business Owner forums annually and sponsors or participates in industry events such as ASPPA and NIPA conferences.
ING’s U.S. Retirement Services is recognized as the nation’s largest defined contribution plan provider based on number of sponsors, with over 52,000; the second largest based on number of plan participants with approximately 7 million; and the third largest based on combined assets under management and administration, with more than $235 billion.1 It is one of the few providers with a scaled leadership presence across the entire defined contribution spectrum and the ability to offer retirement solutions for any size or segment of the market.
1. Pensions & Investments, July 27, 2009.
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Joe Loparco, ING Americas, 860.580.2677 or firstname.lastname@example.org
ING is a global financial institution of Dutch origin offering 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 110,000 people, ING is dedicated to setting the standard in helping our clients manage their financial future.
In the U.S., the ING (NYSE: ING) family of companies offers 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 approximately 30 million customers across the nation. For more information, visit www.ing.com/US.
Insurance products, annuities and funding agreements are issued by ING Life Insurance and Annuity Company (“ILIAC”) One Orange Way, Windsor, CT 06095, which is solely responsible for meeting its obligations. Plan administrative services are provided by ILIAC or ING Institutional Plan Services, LLC. All companies are members of the ING family of companies. Securities are distributed by or offered through ING Financial Advisers, LLC (member SIPC) or other broker-dealers with which it has a selling agreement.