ING is providing 403(b) plan documents that public schools can use in order to meet new IRS requirements by next January.
One size fits all does not work for clothing and it does not work for retirement plans either, said Linda Segal Blinn, INGs vice president of technical services. One public school may give their employees the chance to make Roth after-tax contributions, while others may make employer contributions to their employees retirement accounts. The ING 403(b) Plan has the flexibility to let public schools tailor their plan document to meet their needs.
ING said that once a school adopts the ING plan, ING will provide them with updates and enhancements to the plan document.
ING has been a 403(b) service provider to schools and their employees since 1967 and has partnered in key education associations, including the Association of School Business Officials International, the American Association of School Administrators, and College and University Professional Association for Human Resources.
ING is also the sponsor of the National Teacher of the Year and the Unsung Heroes programs.