ING U.S. Retirement Services wants to enter a new arena in the nonprofit educational institution retirement plan market.
ING U.S., Windsor, Conn., a unit of ING Groep N.V., Amsterdam, has notified the Internal Revenue Service that it intends to apply to become a Section 403(b) prototype plan sponsor.
ING U.S. will file a prototype plan opinion letter application as soon as the IRS begins accepting applications from retirement plan providers seeking favorable determinations on their prototype plan documents, the company says.