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Minnesota Chooses Plan Administrator

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North Star State officials have chosen a company to help run retirement and health account plans for public employees.

The state of Minnesota has hired ING Institutional Plan Services Group, Windsor, Conn., a unit of ING Groep N.V., Amsterdam, to administer the Minnesota 457 deferred compensation plan, the State Health Care Savings Plan, the Unclassified Employees Retirement Plan and the Hennepin County Supplemental Retirement Plan.

The plans have a total of 140,000 participants and $3.9 billion in assets, according to ING.

Services for the 457 plan members will include managed account services as well as online investment advice and self-directed brokerage services, ING says.


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