Deals & PeopleJanuary 12, 2010

ING Wins Minnesota Retirement Plan Business

ING Institutional Plan Services Group will be the administrator for Minnesota's 457 deferred compensation plan.

Reported by Rebecca Moore

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.