1. The Road to Your Retirement Mapping Your Retirement Income Resources Melinda R. Lewis, CFS Financial Adviser ING Financial Partners Your Roadmap to Retirement Readiness Multnomah County Building October 16, 2012

2. Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline www.ing-presentations.intranet Retirement - Insurance - Investments2 Important Information This educational presentation is being provided to you by the ING family of companies. ING does not offer tax or legal advice. This material is not intended to be used to avoid tax penalties, and was prepared to support the matter addressed in this presentation. The taxpayer should seek advice from an independent tax advisor. Insurance products issued by ING Life Insurance and Annuity Company. Variable products are distributed by ING Financial Advisers, LLC (member SIPC) One Orange Way, Windsor, CT 06095-4774. All are members of the ING family of companies. Securities may also be distributed through other broker-dealers with which ING Financial Advisers, LLC has selling agreements. Insurance obligations are the responsibility of each individual company. Products and services may not be available in all states.

3. Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline www.ing-presentations.intranet Retirement - Insurance - Investments3 Retirement Date – Have you chosen your date for retirement? Health Insurance – Have you chosen a plan for retiree health care? Income Need– Have you determined a realistic budget? Social Security – Have you decide when to draw your benefit? Deferred Compensation – Do you know your options? GPS – How can a financial professional help you along the road? Have you planned for… Retirement Road Map Checklist

4. Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline www.ing-presentations.intranet Understanding Your PERS Benefits Anytime Prior to Retirement Retirement - Insurance - Investments4 New! Online Member Benefit Estimate www.oregon.gov/pers Unlimited Estimates and Access to Your PERS Account Info Determine Benefit Increase for Waiting or Forfeited Time Purchase Beneficiary Benefit Options and Cost

5. Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline www.ing-presentations.intranet PERS Written Estimate Within 24 months of eligible retirement date Retirement - Insurance - Investments5 2 FREE written estimates per calendar year Provides benefit amount for each calculation method and beneficiary election REQUIRED if purchasing waiting or forfeited time at retirement Waiting time purchase does not change Forfeited time purchase accrues interest, amount will change with each retirement date

6. Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline www.ing-presentations.intranet PERS Paperwork Tier One and Tier Two Part A- No Sooner than 90 days to Retirement Retirement - Insurance - Investments6 Retirement Date Retirement Option – 13 choices! Beneficiary Election Survivor Option: need name, ss#, birthday, proof of age and relationship Non-Survivor Option: name and relationship Notarized Signature Member and spouse or partner if married ACH Authorization Voided Check Tax Withholding Election

7. Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline www.ing-presentations.intranet PERS IAP- Individual Account Plan Part B Retirement - Insurance - Investments7 Retirement Date Must be the same as Part A PERS Retirement Date Distribution Election Lump sum Payments from PERS Subject to gains, losses, and IAP fees Payments of 10 years or longer are irrevocable IAP Rollover To another qualified plan, Traditional IRA or your 457b plan Ability to defer taxable distribution Payment flexibility Investment control

8. Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline www.ing-presentations.intranet How Do I Buyback My Waiting or Forfeited Time for PERS? Retirement - Insurance - Investments8 Written Estimate Provides Purchase Cost and Benefit Increase Write a check for the amount of purchase NEW! Use Trustee to Trustee Form for purchase Effective September 1, 2011 Use 457b pre-tax funds to purchase service time Direct transfer to PERS pre-tax No sooner than 90 days prior to retirement Check must be received by PERS prior to retirement date

9. Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline www.ing-presentations.intranet Retiree Healthcare Options Retirement - Insurance - Investments9 Multnomah County Guide to Retirement Health Insurance options, eligibility, rates by labor group Retiree Life Insurance and conversion of Basic Life VEBA Contact phone numbers County Retiree Healthcare Eligible if receiving a PERS pension at separation from service County Medical Premium Subsidy Age and years of service requirements by labor group PERS Retiree Healthcare Pre Medicare (age 65) and Medicare options

10. Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline www.ing-presentations.intranet Applying for Social Security Benefits Retirement - Insurance - Investments10 Contact 3 months prior to retirement or age 62 Online statements and estimates www.socialsecurity.gov Enroll for benefits online or at any social security office Determine if you or your spouse are eligible for spousal, divorced or survivor benefits Medicare Part B – Age 65 Necessary for retiree health insurance if age 65 or older

11. Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline www.ing-presentations.intranet Deferred Compensation and Your Final Check Retirement - Insurance - Investments11 Final paycheck Unused vacation and eligible comp hours are part of your final check Eligible Deferral Able to defer all or a portion of eligible vacation and comp leave Subject to annual contribution limits Does not effect PERS final average salary calculation Payroll Form Required Elect dollar amount or percentage of deferral Pre-tax or Post-tax Payroll must receive one week PRIOR to last day of work

12. Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline www.ing-presentations.intranet What are the Contribution Limits? Retirement - Insurance - Investments12 2012 IRS Plan Limits Applies to total of both pre-tax and post-tax contributions Normal Deferral Annual Limit $17,000 Age 50+ Additional Catch Up $5,500 3 Year Catch Up Up to twice the annual max ($34,000) 3 years prior to eligible retirement age Application to determine eligible amounts

13. Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline www.ing-presentations.intranet Can I Combine My Retirement Accounts? Retirement - Insurance - Investments13 Your plan accepts rollovers from other qualified retirement plans Traditional IRAs 401a, 403b, 401k, other 457b accounts PERS IAP account Non 457b amounts may continue to be subject to any pre- age 59 ½ 10% early withdrawal penalties Direct Rollover Form required

14. Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline www.ing-presentations.intranet When Is My Deferred Comp Available? Retirement - Insurance - Investments14 Pre-tax 457b ANY age when you separate from service No early 10% withdrawal penalty Post-tax Roth 457b Must separate from service Attain Age 59 ½ (to avoid 10% early withdrawal penalty) Have maintained 457b Roth for 5 years Employer sends Termination Date after separation from service You may order withdrawal paperwork AFTER your term date is received from ING

15. Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline www.ing-presentations.intranet Do I Have to Start Taking My Money Right Away? Retirement - Insurance - Investments15 No Retirement election required May stay in the plan indefinitely IRS minimum distribution requirements apply after attaining age 70 ½

16. Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline www.ing-presentations.intranet What Are My Payout Choices? Retirement - Insurance - Investments16 Lump Sum Partial Lump Sum Reoccurring Payments Monthly, Quarterly, Semi-Annually or Annually Increase, Decrease or Stop at any time Convert to a Lifetime Annuity

17. Do not put content on the brand signature area Orange RGB= 255,102,000 Light blue RGB= 180,195,225 Dark blue RGB= 000,000,102 Grey RGB= 150,150,150 ING colour balance Guideline www.ing-presentations.intranet Retirement - Insurance - Investments17 GPS – How Do I Learn More? Seeking professional assistance can provide assurance that you are on the right track. At ING we can offer you the tools and assistance to help you: Financial Retirement Plan at no cost PERS, Social Security, all retirement assets, impact of inflation and taxes PERS Counseling and explanation of Retirement Options Assistance in completing PERS Retirement Application Notary Services

18. Retirement - Insurance - Investments18 Thank you for attending your Roadmap to Your Retirement Readiness! Any questions?