QinetiQ North America has picked the U.S. retirement services operations of ING North America Insurance Corp. to be the benefit services administrator for the QinetiQ defined contribution retirement plan.
QinetiQ North America, McLean, Va., is a unit of QinetiQ Group P.L.C., London, an aerospace and defense technology consulting firm.
The ING corporate markets unit will provide retirement plan administration and recordkeeping support for QinetiQ in North America, according to ING U.S. Retirement Services, Windsor, Conn., a unit of ING Groep N.V., Amsterdam.
ING also will provide transition counseling, retirement readiness services, participant communication services and retirement education programs.
QinetiQ North America will offer participants ING target-date funds, and it also will offer plan participants asset-allocation-model portfolios managed by entities other than ING.