Raise your hand if you want to enjoy retirement

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1 Raise your hand if you want to enjoy retirement

2 Summary Slide Important Information Why Save Under a 403(b) Program It s Wise to Start Now! Pre-tax Savings Can Put More in Your Pocket Today 3 Steps to Retirement Planning at LSU Select Your Base Plan Your Options Classified Employees Louisiana i State t Employees Retirement t System (LASERS) Faculty and Unclassified Employees Teacher s Retirement System of Louisiana (TRSL) Optional Retirement Plan (ORP) Fill In Any Gaps Voluntary 403(b) Plan Attributes Voluntary Choices with ING ING Core 403(b) LSU EZ-Enrollment Retirement Program page 2

3 Important Information Variable annuities and mutual funds offered through a retirement plan are long-term investments designed for retirement purposes. If withdrawals are taken prior to age 59 ½, an IRS 10% premature distribution penalty tax may apply. Money taken from the annuity will be taxed as ordinary income in the year the money is distributed. Account values fluctuate with market conditions, and when surrendered the principal may be worth more or less than its original amount invested. An annuity does not provide any additional tax deferral benefit, as tax deferral is provided d by the plan. Annuities may be subject to additional fees and expenses to which other tax-qualified funding vehicles may not be subject. However, an annuity does provide other features and benefits, such as lifetime income payments and death benefits, which may be valuable to you. You should consider the investment objectives, risks, and 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 containing this and other information, can be obtained by contacting your local representative. Please read the information carefully before investing. page 3

4 Important Information This material was created to provide accurate and reliable information on the subjects covered. It is not intended to provide specific legal, tax or other professional advice. The services of an appropriate professional should be sought regarding your individual situation. All guarantees are based on the financial strength and claims paying ability of the issuing insurance company who is solely responsible for all obligations under its policies. Insurance products, annuities, and retirement t plan funding options issued by (third party administrative services may also be provided by) ING Life Insurance and Annuity Company, One Orange Way, Windsor, CT Securities offered through ING Financial Advisers, LLC (member SIPC), and other broker-dealers with which h it has selling agreements. These companies are members of ING. Securities also distributed through other broker-dealers with which ING Financial Advisers, LLC has selling agreements. C R page 4

5 Why Save Under a 403(b) Program You can put money away pre-tax. So out of every $100 you OR can let the government take $30 in taxes and save $70 Assumes state and federal income taxes of 30%. can put $100 into your plan, AND your $100 can grow tax-deferred, building your nest egg faster! Subject to taxes upon withdrawal page 5

6 It s Wise to Start Now! Maria starts contributing $100 a month at age 35. Ken starts contributing $100 a month at age 25 but stops contributing at age years $123, years of saving of saving $97,926 +$25,812 $36,000 $18,000 Total Contributions Total Savings at 65 This hypothetical illustration is based on an annual effective rate of return of 6% and does not reflect the performance of any specific investment option. It does not take into account the payment of taxes and does not intend topredict investment results. The illustration does not include fees or expenses that an investment product could assess. If included, these fees would reduce the figures shown above. Systematic ti investing does not ensure a profit or guarantee against loss. You should consider your ability to invest consistently in up as well as down markets. Not intended to serve as financial advice or as a primary basis for your investment decisions. Taxes are generally due upon withdrawal. page 6

7 Pre-tax Savings Can Put More in Your Pocket Today If your salary is $1,000 a month, and you save $ each month After-Tax Savings Salary Tax Taken Out After Tax Amount Savings Take Home $1,000 $200 $800 $100 $700 Pre-Tax Savings Salary Savings Taxable Income Tax Taken Out Take Home $1,000 $100 $900 $180 $720 Salary - $1, Monthly, Contribution $ Assumed Tax Bracket 20% (Federal and State) page 7

8 3 Steps to Retirement Planning at LSU Retirement Sl Select tyour Base Retirement Plan page 8

9 Your Options As a Louisiana public higher education employee, you have options based on your job classification. Classified Employees Defined Benefit Plan Faculty and UnClassified Employees Defined Benefit Plan Louisiana Optional Retirement Plan page 9

10 Classified Employees Louisiana State Employees Retirement System (LASERS) Defined Benefit Plan Most contribute 7.5%, benefit payments are not determined by the amount of your contribution. If you were hired after July 1, 2006, your contribution tib ti is 8%. Formula-based monthly pension determined by years of service, highest consecutive 3-year average annual salary x 2.5 percent Lasers will control the investment selection For more information you may go to page 10

11 Faculty and Unclassified Employees Teacher s Retirement System of Louisiana (TRSL) Defined Benefit Plan You contribute 8%, benefit payments are not determined by the amount of your contribution Formula-based monthly pension determined by years of service, highest consecutive 3-year average annual salary x 2 or 2.5 percent TRSL will control the investment selection 5 Year Vesting Period Portability of this plan is not an option For more information go to page 11

12 Faculty and Unclassified Employees Optional Retirement Plan (ORP) An optional Defined Contribution retirement plan: Your retirement benefit determined by both employee and your employer s contributions and investment returns on these contributions Immediately Vested 100% You contribute 8% and the state determines annually how much to match, usually around 8% You select your investment options within the plan Your plan is portable to most colleges and universities in the US You may change your ORP Carrier once a year in November For complete information, refer to prospectus. page 12

13 ORP with ING Build a portfolio from a menu of more than 90 investment t options Choose from three separate fixed investment options No annual participant maintenance fees No contract withdrawal charge Services of an ING Retirement Specialist at no additional cost Want to learn more? Contact Donna Causey [donna.causey@ingfa.com] [ ] Investment in a variable annuity does include mortality & expense risk charges. Fund fees and expenses may apply. Refer to the prospectus for details. page 13

14 Voluntary 403(b) Plan Attributes Save pre-tax and money grows tax deferred Lower your current income taxes and/or receive possible tax credit Participation is voluntary You may choose a fixed dollar amount or a % of your salary Choice of flexible variable annuity plans or mutual fund platforms Choose from 4 well-known carriers You have a broad menu of variable investment options to choose from Flexible payout options ING offers 2 options for the 403(b) Voluntary Plan Insurance products issued by ING Life Insurance and Annuity Company. Securities offered through ING Financial Advisers, LLC (member SIPC), One Orange Way, Windsor, CT , or other broker/dealers with which it has a selling agreement. TIAA-CREF Individual & Institutional Services, LLC and Teachers Personal Investors Services, Inc. distribute securities products. TIAA (Teachers Insurance and Annuity Association), New York, NY issues annuities. Insurance and financial services provided by member companies of American International Group, Inc. Metropolitan Life Insurance Company, 200 Park Avenue, New York, NY Securities products offered by MetLife Securities, Inc. (member FINRA/SIPC), 200 Park Avenue, New York, NY Metropolitan Life Insurance Company and MetLife Securities, Inc. are affiliates. page 14

15 Voluntary Choices with ING ING s Core 403(b)(1) funded d by a group variable annuity LSU EZ-Enrollment Enrollment Retirement Program 403(b)(7) page 15

16 ING s Core 403(b) More than 90 variable investment options Flexible payout options Allocation and transfer flexibility without t penalty Easy access to account information through the internet, by mail, or toll-free number Loan privileges Refer to the prospectus for details. Want to learn more? Contact Donna Causey [donna.causey@ingfa.com] [ ] page 16

17 LSU EZ-Enrollment Retirement Program Saving through h the LSU EZ-Enrollment E Retirement t Program 403(b)(7) product allows you to: Participate in the ING Solutions Portfolios SM1 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 Enjoy no surrender charge 2 1 All portfolios will fluctuate in value, and there is no guarantee that any investment option will achieve its stated objective. Stocks are more volatile than bonds, and portfolios with a higher concentration of stocks are more likely to experience greater fluctuations in value than portfolios with a higher concentration in bonds. Foreign stocks and small and midcap stocks may be more volatile than large cap stocks. Investing in bonds also entails credit risk and interest rate risk. Generally investors with longer timeframes can consider assuming more risk in their investment portfolio. The ING Solution Portfolios are actively managed and the asset allocation adjusted over time. Refer to the prospectus for more information about the specific risks of investing in the various assets classes included in the ING Solution Portfolios. 2 Participant asset-based recordkeeping fee of.60% on an annual basis, deducted quarterly. Fund fees and expenses may apply. Refer to the prospectus for details. page 17

18 Simplification - Easy Investment Options Target-Date Lifecycle Funds ING Solution 2045 Portfolio ING Solution 2035 Portfolio ING Solution 2025 Portfolio ING Solution 2015 Portfolio ING Solution Income Portfolio 100% Asset Allocatio on Mix 80% 60% 40% 20% Key Stocks Bonds Stability of Principal 0% Goal Date Years to Goal 5 The pie charts displayed reflect the long-term, strategic asset allocation composition ("Target Allocations") and are reviewed annually; however, changes to these target tallocations may occur on a quarterly basis or as warranted by market conditions. Within each strategic asset class the fund may make tactical allocations to various sub-asset classes as warranted by market conditions. Please refer to the prospectus for more information. page 18

19 To Sign Up for LSU EZ-Enrollment For more information, contact: t Donna D. Causey Registered Representative ING Financial Advisers LLC (Member SIPC) (318) donna.causey@ingfa.com To enroll: Complete the form and return it to your Human Resources representative. page 19

20 Have You Considered How Injury or Illness Could Impact Your Financial i Future... $2,691 /month for care in an assisted living facility $56/day for care in an adult day health care center $171/day for a semi-private room in a nursing home Having added insurance could help you avoid tapping in to your retirement savings! Average U.S. injury and illness costs in 2006 from National Clearinghouse for Long Term Care Information: "Own Your Future" 5/25/2007 page 20

21 Helping You Protect Insurance that can help you protect the assets you ve worked a lifetime to accumulate A new Whole Life Insurance offering* for LSU employees Provides a base of life insurance coverage for your lifetime Long-term care rider that provides monthly payments which may be used to help pay for home health assistance, adult daycare or confinement in a long-term care facility *Horizon Whole Life insurance is provided by ReliaStar Life Insurance Company, a member of the ING family of companies. New page 21

22 Your Family Your premium is based on your age, tobacco use, the death benefit level you select along with the election of the Long Term Care Rider (Extension of Benefits & Restoration of Benefits) Premiums are guaranteed to be fixed for the life of the policy Affordable premiums paid through payroll deduction Coverage is portable if you retire from or leave LSU page 22

23 Long-Term Care Rider with Extension of Benefits and drestoration ti of fbenefits Provides monthly payments in the event you require assistance with multiple activities of daily living Your death benefit is accelerated to provide the monthly payments The amount and duration of your benefit depends on the care you need Type of Monthly Benefit Duration Extension of Care Amount Benefits Long-term 4% of life insurance Up to 25 Up to 25 care facility death benefit months additional months Home healthcare 2% of life insurance death benefit Up to 50 months Up to 50 additional months page 23

24 How It Works An employee purchased a $50, Whole Life Insurance policy. At age 46, she suffers a stroke and is confined to a long-term care facility because she requires assistance with 2 or more activities of daily living. Each month, a long-term care benefit payment is made, an equal amount will be restored to the life insurance death benefit. $2,000/month (4% of the Policy s Death Benefit) for the first 25 months $50, $2,000 restored (under Restoration of Benefits) to the life insurance death benefit for each payment: After 25 months, $2,000/month available a ab for the next 25 months (extension of benefits) if additional long-term care is needed $50,000 The $50,000 death benefit remains available in the event of death $50,000 Total benefit: $150, page 24

25 For the Price of A Cup of Coffee Cost Per Day Death Benefit Potential Long Term Care Benefit Total Potential Benefit Amount 91 $25,000 $50, $75,000 $1.73 $50,000 $100,000 $150,000 $2.56 $75,000 $150,000 $225,000 $3.38 $100,000 $200,000 $300,000 This example assumes a 35 year old with no tobacco use. page 25

26 Getting Started is Easy 1. Complete the Asset Preservation Enrollment form. 2. Turn it in to your HR representative 3. Donna Causey will contact you to: Provide more information Answer your questions Help you complete the required forms Start preserving your financial future! page 26

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