Products March 11, 2008

ING Releases 403(b) Plan Documents

ING has announced it is making available 403(b) plan documents public schools can adopt to meet the new IRS 403(b) requirements by January 1, 2009.
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The new 403(b) regulations included a requirement that all 403(b) programs have a written plan in place, including those from public schools. The IRS released model plan language guidance in November 2007 (See IRS Offers Model 403(b) Plan Language for Public Schools).

However, according to Linda Segal Blinn, ING’s Vice President of Technical Services, the ING documents go beyond the model language. “The ING 403(b) Plan has the flexibility to let public schools tailor their plan document to meet their needs,” she said in a press release.

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In addition, a sponsor that notifies ING that it has adopted the ING Plan language will automatically be sent any updates to that plan necessitated by statutory or regulatory changes, the announcement said.

Public schools can obtain the ING 403(b) plan document and other tools to help make complying with the regulations easier by visiting www.ing.com/us/403bregs or by contacting their local representative.

Products March 10, 2008

Sun Life Expands Portfolio Capabilities

Sun Life has added three diversified fund family portfolios to further boost adviser choice when determining the best option for clients.
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The newest offerings include:
  • Franklin Templeton VIP Founding Funds Allocation
  • AllianceBernstein VPS Balanced Wealth Strategy Portfolio and
  • Van Kampen UIF Equity & Income Portfolio.
With these additions, Sun Life now offers a total of nine fund family portfolios, according to a press release. Like the 90/10 Master Model, these fund family portfolios are available with all of the Masters variable annuities and all optional living benefits, including Income ON Demand.
For advisers who wish to customize their clients’ portfolios, Sun Life (U.S.) now offers additional fund selections. According to a press release, advisers can choose from 56 investment options across 15 leading fund families to help them diversify their clients’ assets. This allocation strategy now includes options from four new fund managers:
  • AllianceBernstein,
  • Goldman Sachs,
  • Lazard and
  • Wellington Management
With the addition of these money managers, advisers can now choose from a wider array of asset classes, investments styles, and market capitalizations when customizing their clients’ portfolios, according to Sun Life.

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