Products March 29, 2010

ING Adds Variable Annuity to Product Suite

ING's U.S. operations, which merged its annuity and rollover businesses to form ING Financial Solutions last year, has added what it said is a simpler, lower-cost variable annuity to its product suite.
Reported by

The new product, called ING Select Opportunities Variable Annuity, is designed to offer the benefits and features of traditional variable annuities packaged together at a competitive price, ING said. The contract has one death benefit and a minimum guaranteed withdrawal benefit, both of which come standard with the product.      

Earlier this year, the company introduced a multi-manager mutual-fund custodial account IRA program and a fixed annuity. The annuity products are issued by ING Life insurance and Annuity Company.     

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ING Select Opportunities uses passive investment options utilizing index-tracking portfolios

For more information, contact an ING Financial Solutions wholesaler or the ING Financial Solutions Sales Team at 800.344-6860.  
Products March 29, 2010

IRS Offers Determination Letter Program Insights

The Internal Revenue Service (IRS) is conducting an audio forum on its new determination letter program for qualified plans.
Reported by

According to an announcement, Andrew Zuckerman, director of Employee Plans Rulings and Agreements, will be joined by Vickie Surguy, manager, EP Determinations, to discuss:

  • the status of the new determination letter program;
  • the types of “reliance” available to preapproved plans, with or without a determination letter;
  • tips on completing the new Form 5307, along with ways to avoid common mistakes to make the process go more smoothly.

The free forum is scheduled for March 31 at 2 p.m. ET.

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More information is available here.

Enrolled agents and enrolled retirement plan agents can earn one CPE credit if they remain on the phone forum presentation for 50 minutes. The IRS noted that other professional groups should consult with their respective licensing agencies regarding acceptability of credit.

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