ING Retirement

ING Retirement


Optional Retirement Plan


Effective 7/1/1990, employees who are eligible for membership in TRSL are given the choice of joining TRSL or ING Retirement, one of the Optional Retirement Plans (ORP). The decision of which retirement plan to join is a one-time irrevocable decision. ACT 92 of 1992 allows members of TRSL eligible for the ORP to make an irrevocable decision to participate in an ORP prior to the attainment of five years of creditable service in TRSL. Employees who join an ORPcan change carriers at any time during the year. If an employee selects an ORP, their contributions are tied up until they terminate employment and elect to draw a monthly payout. In accordance with Louisiana statutes, employees who terminate employment cannot receive a lump sum cash refund of contributions. Under the ORP, employee contributions, less an administrative fee, are fully and immediately vested in the employee's retirement annuity contract. This allows portability to or from other institutions of higher education for the purchase of additional annuity contracts.

For more information about ING Retirement, please visit their home page at http://www.ingretirementplans.com/index.shtml.



You can contact either of your local ING-AETNA Agent for more information:

 

Murray Fontenot (225) 819-6467, murray.fontenot@ingfp.com




ORP Contribution Table



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