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.