Products February 22, 2013

ING Offers Savings Benchmarking Tool

ING U.S. has expanded its suite of retirement saving, planning and education resources with a new Web-based financial benchmarking tool.

Reported by

Rebecca Moore

ING My Savings Score is a self-service tool, available to the public at INGMySavingsScore.com, that allows users to compare their current savings to a prescriptive target, based on age and annual income.

After entering their age, income and retirement savings information, individuals are shown a personalized savings score that reflects the amount of their retirement savings as a multiple of their annual income. ING My Savings Score also gives users a side-by-side comparison to a benchmark that suggests how much they should estimate having saved for retirement today. This benchmark, or target score, is calculated from a table of aged-based savings factors using certain assumptions.

After receiving their score and some basic tips, the ING My Savings Score site lets individuals connect to more information and planning tools from ING U.S. if they are interested.

ING U.S. launched the ING My Savings Score tool in conjunction with America Saves Week, which takes place February 25 through March 2. (See “Campaign Provides Employee Education Opportunity.”)