By Andy Stonehouse
2011 served to be a banner year for ING's U.S. Retirement division, as several major corporate defined contribution
plan partners renewed and brought total assets under management to more than $24 billion.
Those holdings, according to the company, were 76 percent greater at the end of 2011 than the year before, partially due to an array of more stable value and target date
investment offerings, plus advisory services for employees to diversify their assets.
Stable value assets grew by 25 percent in the same period.
More than 350,000 participants are covered by those large corporate plans, with major employers including Nestle USA, Honeywell, Sprint AeroSystems and the United Launch Alliance all renewing their business last year.
ING's retirement division also reported that more than 200,000 defined benefit participant accounts were renewed.
"Last year was significant in terms of the large corporate clients that renewed their relationship with us," said Wayne Finnegan, head of Institutional Corporate Markets for ING U.S. Retirement.
Originally published on BenefitsPro.com