ING Wins Minnesota Retirement Plan Biz

January 12, 2010 ( - ING Institutional Plan Services Group has been selected by the State of Minnesota to be the administrator for its 457 deferred compensation plan.

ING also will provide administration for the State Health Care Savings Plan, the Unclassified Employees Retirement Plan, and the Hennepin County Supplemental Retirement Plan. According to a press release, ING will provide complete administration for all four plans, which have about 140,000 participants and $3.9 billion in assets.

Services will also include self-directed brokerage, online investment advice, and managed account services to participants in the 457 plan.

The announcement said ING is a retirement plan provider to nearly half the states in the nation, and also serves approximately 4,000 municipal and county governments.

More information about ING’s services for institutional plans is here.