Anne Gately

1
The Final Regulations What they mean to you as a
plan participant

• Anne Gately
• Client Relations Manager

Littleton Public Schools November 18, 2009
2
Important Information

• These materials are not intended to be used to
  avoid tax penalties, and were prepared to support
  the matter addressed in this presentation. The
  taxpayer should seek advice from an independent
  tax advisor.
• IRS Circular 230 Disclosure Any tax advice
  contained in this document (including any
  attachments) was not intended by the author of
  this document to be used, and cannot be used by
  the audience or any other person, for the purpose
  of avoiding any Internal Revenue Code penalties
  that may be imposed on such person. Any tax
  advice contained in this document was not
  intended by the author of this document to be
  used or referred to, and cannot be used or
  referred to, in promoting, marketing, or
  recommending the transaction(s) or matter(s)
  addressed herein.

The discussion highlights key issues of the final
Internal Revenue Code regulations. The
information is provided for your education only.
Neither ING or its affiliated companies or
representatives offer legal or tax advice.
Consult your tax and legal advisors regarding
your individual situation. C08-0423-011R 149238
v0 XP ELC.EC.P.MS.548
3
How do the new 403(b) Regulations affect your
plan?

• By January 1, 2009, your plan sponsor will be
  required to do much more under the 403(b) plan
  they offer to you. Among other things, the new
  403(b) Regulations will require your employer to
• Share information with approved Investment
  Providers
• Have a written plan laying out your programs
  403(b) rules
• Oversee and authorize disbursement requests by
  plan participants (loans, transfers, withdrawals,
  etc.)
• Make sure that all your eligible employees know
  about the 403(b) plan, including providing annual
  notice to all eligible employees
• Monitor IRS annual contribution limits
• Remit contributions readily

4
How will the new 403(b) regulations affect you?

• Restrictions on 90-24 transfers after September
  24, 2007

5
List of Approved Providers Effective January 1,
2009

• AIG - Valic
• Ameriprise
• AXA Equitable
• Horace Mann
• ING
• Life of Southwest
• MetLife Investors
• updated as of Dec. 5, 2008

6
Plan administration made easier

• FOR A PLAN SPONSOR
• planwithease.com can help your plan sponsor
  manage your 403(b) plan so that you can
  continue to use this valuable benefit.

• planwithease.com can
• Review and approve (as appropriate) withdrawal
  transactions
• Provide Electronic Salary Reduction Agreement and
  on-line salary reduction and contribution rate
  change capability
• Assist with annual notices to eligible employees
  about the opportunity to participate in the
  403(b) plan
• Monitor IRS annual contribution limits
• Notify employees of IRS Required Minimum
  Distribution requirements
• Provide employee education about the plan.

7
Plan administration made easier

• FOR You
• planwithease.com will provide
• Retirement planning financial education and
  calculators
• Online information about how to enroll under your
  403(b) plan.
• Once enrolled in your 403(b) plan, participants
  will be able to use planwithease.com to
• View account balance information (based on data
  provided by each approved investment provider)
• Complete Salary Reduction Agreements on-line
• Manage salary reduction contribution changes for
  each investment provider
• More importantly, planwithease.com will be the
  central location for initiating withdrawal
  requests and receiving the required approval of
  those requests.

ING Life Insurance and Annuity Company, One
Orange Way, Windsor, CT 06095-4774, a wholly
owned, indirect subsidiary of ING Groep N.V.,
provides these administration services under the
trade name planwithease.com SM. planwithease.com
services may not be available in all states.