ING Survey: One Year Later, Investors Remain Committed to Their Workplace Retirement Plans

WINDSOR, Conn., Oct 19, 2009 /PRNewswire-FirstCall via COMTEX/ -- ING | Quote | Chart | News | PowerRating -- A survey conducted by the ING Institute for Retirement Research found that, despite the uncertain market conditions and negative headlines during the past year, most Americans who participate in employer-sponsored defined contribution plans value these plans greatly and have continued to support them.

According to the survey, an overwhelming majority (84%) stated that their employer's plan was a "very important" part of their retirement strategy. Additionally, nearly all (92%) stated that the best way to save was by having their investments automatically deducted from their paycheck.

"This survey underscores one simple fact: the economy and the critics have not discouraged those who are regularly participating in a defined contribution plan," said Catherine Smith, CEO of ING U.S. Retirement Services. "The average American preparing for retirement recognizes the important role their employer-sponsored plan plays in achieving their savings goals, and they value the conveniences and options these plans afford."

The survey, part of ING's effort to gain greater insights into the "hearts and minds" of investors, polled more than 1000 men and women of all ages participating in defined contribution plans managed by ING's U.S. Retirement Services operations.(1) These individuals represented a cross-section of investors in plans that span the 401(k), 403(b) and 457 Internal Revenue Code provisions and cover the corporate, not-for-profit, healthcare, education and government sectors.

Other findings further demonstrated that investors did not radically change their behavior or abandon these plans in response to the market downturn. For example, since the fall of 2008:

    --  More people (nearly 40%) reported joining an employer's plan or
        increasing their contributions than decreasing or stopping contributions
        (less than 30%).

    --  While more than one-third of participants (37%) changed to a more
        conservative asset allocation, nearly one fifth (19%) saw an opportunity
        to become more aggressive in their investment strategy.

    --  Very few reported either taking money out through a hardship withdrawal
        (6%) or a loan (5%).

ING established the ING Institute for Retirement Research in order to better understand the many facets of the defined contribution landscape, including the emotional and psychological factors that affect how people save for retirement. Through research projects, studies, tools and commentary, the Institute is a resource for plan distributors and employers seeking new ways to influence participant behavior and help investors achieve positive retirement outcomes.

For a complete overview of this survey, or to view other original material produced by the Institute, please visit www.ing.com/us/sponsorIIRR and select the "publications" page.

ING's US Retirement Services is currently the nation's largest defined contribution plan provider based on number of sponsors, with over 52,000; the second largest based on number of plan participants with approximately 7 million; and the third largest based on combined assets under management and administration, with more than $235 billion.(2) It is one of the few providers with a scaled leadership presence across the entire defined contribution spectrum and the ability to offer retirement solutions for any size or segment of the market.

1. "The Hearts and Minds of Retirement Investors" survey was conducted between April 9 and June 6, 2009. Nearly 1050 investors in retirement programs managed by ING responded to the survey. Respondents were men and women of all ages that represented a cross-section of investors in plans that span the Internal Revenue Code defined contribution provisions: 401(k), 403(b) and 457. Results of this survey are reported with 95% confidence and a margin of error of plus or minus 3%.

2. Pensions & Investments, July 27, 2009.

    Press inquiries:
    Joe Loparco
    ING Americas
    Office: 860.580.2677
    Cell:  860.462.6525
    joseph.loparco@us.ing.com

About ING

ING is a global financial institution of Dutch origin offering banking, investments, life insurance and retirement services to over 85 million private, corporate and institutional clients in over 40 countries. With a diverse workforce of more than 110,000 people, ING is dedicated to setting the standard in helping our clients manage their financial future.

In the U.S., the ING (NYSE: ING | Quote | Chart | News | PowerRating) family of companies offers a comprehensive array of financial services to retail and institutional clients, which includes life insurance, retirement plans, mutual funds, managed accounts, alternative investments, direct banking, institutional investment management, annuities, employee benefits, financial planning, and reinsurance. ING holds top-tier rankings in key U.S. markets and serves approximately 30 million customers across the nation. For more information, visit www.ing.com/US.

SOURCE ING Americas

http://www.ing.com/us

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