ING to Separate Banking, Insurance Operations
In an Oct. 26, 2009 press release, ING, provider of the former NYSUT Member Benefits Trust-endorsed “Opportunity Plus” 403(b) program, announced that over the next four years it will move toward a complete separation of its banking business (known as “ING Direct”) and its insurance operations. ING stated that it was taking that measure in order to help reimburse the Dutch Government, which provided financial support to ING during the last year. Information regarding that announcement has been provided by ING to both ING Opportunity Plus plan participants and plan sponsors (i.e., employers). Brian Comer, ING President for Public Markets, states in his letter to ING Opportunity Plus plan participants that “we [ING] would like to reassure our Opportunity Plus customers that their accounts remain safe and secure.”
Click here for ING’s Oct. 26 press release.
We will continue to keep you informed of any developments that come to our attention.
For Your Information:
ING to Separate Banking, Insurance Operations
ING recently announced a strategic decision as part of its final restructuring plan.
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Save the date - NYSUT Member Benefits Conference in 2010
The NYSUT Member Benefits Conference will take place November 19-20, 2010 at The Saratoga Hilton in Saratoga Springs, New York.
Online benefit look-up service now available.
This service, called My Program Participation, lets you look up information about the endorsed programs you participate in, including your payment method and premium amount. This information is provided to you on a secured site.