Through its relationship with Morningstar Associates, ING will be rolling out Portfolio Blueprint 3(38) to its retirement plan customers. The service allows employers to delegate fiduciary authority for the selection, ongoing monitoring, and replacement of the plan’s investments to Morningstar Associates, a qualified investment manager as defined by section 3(38) of ERISA. The service will be available to small and mid-sized companies that sponsor 401(k) retirement plans.
“There’s a spotlight right now on retirement plan investment offerings and the obligations and responsibilities of those who select and advise on them,” said Brock Johnson, president of retirement solutions for Morningstar’s Investment Management division. “This service will continue to offer sponsors a diverse menu of high-quality investment options while giving them the confidence that comes with the fiduciary coverage from Morningstar Associates as an appointed investment manager to the plan.”For more information on ING’s Portfolio Blueprint 3(38) program, including specific terms and availability, contact ING Sales Desk at 1-866-481-3653, option 4.