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The LSU EZ-Enrollment Retirement Program Mark Tusa, Regional Manager, ING Financial Advisers Mike Sotile, Lead LSU ING Representative Linda Alumbaugh,

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Presentation on theme: "The LSU EZ-Enrollment Retirement Program Mark Tusa, Regional Manager, ING Financial Advisers Mike Sotile, Lead LSU ING Representative Linda Alumbaugh,"— Presentation transcript:

1 The LSU EZ-Enrollment Retirement Program Mark Tusa, Regional Manager, ING Financial Advisers Mike Sotile, Lead LSU ING Representative Linda Alumbaugh, ING Representative Colette Riha, ING Representative

2 © ING North America Insurance Corporation page 2 Why Save for Retirement?  Because you want to live as well as you can during your retirement.  Because your pension and Social Security benefits may not be enough to replace your current income in retirement.

3 © ING North America Insurance Corporation page 3 You may need to live without a paycheck as long as you lived with one. Based on current Annuity 2000 Mortality Table assuming relatively good health (2005) Today’s healthy 65-year old will likely live more years. 50% of females age 65 will live past age % of males age 65 will live past age 80.

4 © ING North America Insurance Corporation page 4 Tax Deferral and the LSU EZ-Enrollment Retirement Program: Saving through the LSU EZ-Enrollment Retirement Program – a 403(b) program - allows you to:  Set aside money for retirement on a pre-tax basis.  Save through payroll deduction.  Lower your current income taxes and/or receive possible tax credit.

5 © ING North America Insurance Corporation page 5 Saving under a 403(b) Program Assumes state and federal income taxes of 30%. OR you can let the government take $30 in taxes and save $70… you can put $100 into your plan, AND your $100 can grow tax-deferred, building your nest egg faster! The LSU EZ-Enrollment Retirement Program allows pre-tax contributions, which can turn $70 into $100. Out of every $100 you make,

6 © ING North America Insurance Corporation page 6 How Does Your EZ Plan Work n Assumptions n Salary - $1, Monthly n Saving – $ n Tax Bracket – 20% (Federal and State) n Traditional: Salary / Tax / After Tax / Savings / Take Home $1000 $200 $800 $100 $700 EZ Plan Salary / Savings / TI / Tax / Take Home $1000 $100 $900 $180 $720

7 © ING North America Insurance Corporation page 7 Assumes each accounts earns an annual tax-deferred rate of return of 8.00% and is for demonstration purposes only. Not based on the rate of return or the incurred costs of any particular investment. The effects of fees and charges would reduce the numbers shown. Not intended to serve as financial advice or as a primary basis for your investment decisions. Taxes are generally due upon withdrawal. Dollar cost averaging does not ensure a profit nor guarantee against loss. Investors should consider their financial ability to continue their purchases through periods of low price levels. The sooner you start, the sooner you reach your goals. $48,000 $324, years of saving Larry starts saving $300 a month at age 45 $72,000 $171, years of saving Total Savings at 65Total Contributions + $152,382 Susan starts saving $100 a month at age 25

8 © ING North America Insurance Corporation page 8 Saver’s Tax Credit Individuals who contribute to an Employer Retirement Plan or to an IRA may qualify for a Saver’s Tax Credit. This credit is equal to the following: 50% of Contribution – Married Filing Jointly (0-$30,000) – Head of Household (0-$22,500) – All Other Filers (0-$15,000) 20% of Contribution – Married Filing Jointly ($30,001-$32,500) – Head of Household ($22,501-$24,375) – All Other Filers ($15,001-$16,250) 10% of Contribution – Married Filing Jointly ($32,501-$50,000) – Head of Household ($24,376-$37,500) – All Other Filers ($16,251-$25,000) Remind your tax preparer that you could qualify for a Tax Credit Neither ING nor its representatives offer tax or legal advice. The taxpayer should seek advice from an independent tax advisor.

9 © ING North America Insurance Corporation page 9 What happens if I’m Not Happy with The EZ Enrollment Plan? n You can move your money to any qualified retirement plan offered by the LSU System. n There is NO Deferred Sales Charge – Participants can move your money at any time. – Participants may be assessed an early withdrawal penalty if distributions are taken prior to age 59 ½ and no exemption applies. – Contributions made on a pre-tax basis (as well as earnings on those contributions) are subject to federal tax when withdrawn

10 © ING North America Insurance Corporation page 10 Sophisticated Asset Allocation Techniques Made Simple Simplification - Easy Investment Options Target-Date Lifecycle Funds Asset Allocation Mix Stocks Bonds Stability of Principal Key ING Solution 2045 Portfolio ING Solution 2035 Portfolio ING Solution 2025 Portfolio ING Solution 2015 Portfolio ING Solution Income Portfolio Years to Goal

11 © ING North America Insurance Corporation page 11 ING Solution Portfolios n A portfolio is chosen based on your goal retirement year and risk tolerance, and ING’s professional investment managers do the rest. n Professional fund managers can be more aggressive for those with a longer time horizon and are more conservative with those with a shorter time horizon. n Over time, the asset allocations within each Portfolio become more conservative as the participant moves closer to the time they may want to withdraw the assets to help fund their retirement.

12 © ING North America Insurance Corporation page 12 Local Service and Commitment ING provides a committed local service team – Team of experienced and credentialed representatives with on-site experience – One-on-one and group education meetings – Variety of financial and retirement planning seminars Focus on customer relationships Annual Reviews, Review of Statements, and Seminars for Specific Departments

13 © ING North America Insurance Corporation page 13 Personalized Solutions n Internet Access n Toll-Free Access n Enrollments n Investment option changes n Interactive calculators n Asset allocation guidance Information and transaction capabilities via toll-free line or Internet Quarterly Statements and newsletters On-line statements Account information and activity Education library Investment information including one pagers and performance LOCAL REPRESENTATIVES = PERSONAL TOUCH!

14 © ING North America Insurance Corporation page 14 n It’s as EZ as handing the EZ Enrollment Form to someone at the meeting today. n You can also hand in the EZ Enrollment Form to the Human Resource Department. n Your ING Representative will do the rest. n An ING agent we make sure you understand the plan and the benefits of saving for retirement through the LSU EZ Enrollment plan. How to get started

15 © ING North America Insurance Corporation page 15 OUR LOCAL AGENTS n Mike Sotile n Linda Alumbaugh n Colette Riha

16 © ING North America Insurance Corporation page 16 Important Information You should consider the investment objectives, risks, charges, and expenses of the variable product and its underlying fund options; or mutual funds offered through a retirement plan, carefully before investing. The prospectuses/prospectus summaries/information booklets contain this and other information, and can be obtained by contacting your local representative. Please read the information carefully before investing. The Internal Revenue Code generally prohibits withdrawals of any contributions and attributable earnings prior to death, disability, age 59 1/2, severance of employment, or financial hardship. (The amount available for hardship is limited to the lesser of the amount necessary to relieve the hardship, or the account value as of 12/31/1988 plus the amount of any salary reduction contributions made after 12/31/1988 (exclusive of any earnings.)


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