An ING news release said the product provides information about the defined benefit options available to educators and illustrates how these options work with their defined contribution plan. 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, ING said. The 10-15 minute presentation articulates investment concepts and reviews the state-specific retirement DB features.
The EFA’s embedded financial calculator provides a benefit estimate for the educator’s defined benefit system, estimates social security retirement benefits and details the savings amount or rate of return needed in a defined contribution plan to reach a specific retirement goal.
For more information, visit www.ing.com .