ING Announces New Retirement Planning Tool

October 13, 2009 ( - ING's U.S. Retirement Services operation has introduced a new Web tool for customers to help them determine if they are on track to achieve their financial objectives in retirement.

According to a news release, My Retirement Outlook provides both a retirement and a paycheck analysis function for users – not only telling users how much they will need at retirement, but whether they can afford to save that much on a per-paycheck basis. It also factors in the user’s defined benefit plan assets, Social Security benefits, and personal savings into the calculations.

In the retirement portion of the tool, users can estimate how much they need to save annually – and per paycheck – in order to reach their financial objectives.  In the paycheck portion they can see how various savings amounts will impact their take-home pay today.

Though the tool was specifically introduced for education professionals using the ING Educator’s Direct 403(b) offering in Delaware, it is available to all ING clients. ING introduced the ING Educator’s Direct 403(b) Program, a variable annuity issued by ING Life Insurance and Annuity Company, to education professionals in Delaware in January (see ING Introduces Educator’s Direct 403(b) Program ). The news release said school districts in other states are expected to get access to Educator’s Direct in the coming months.

More information is at .

My Retirement Outlook is available to anyone free of charge under the “Tools & Calculators” section of , and it will also be featured on a number of other ING customer Web sites.