ING settled with New York and New Hampshire regulators for paying up to $3 million a year to the teachers unions in those states to steer business its way.

ING's settlement with New York is for $30 million, while it is paying $2.75 million to New Hampshire. The money will be distributed back to the teachers in the plans, for an average payout of $450 apiece and a minimum of no less than $100 apiece for the teachers in New York.

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