ING's US Retirement Services business is planning to expand its fiduciary service program Portfolio Blueprint for researching, selecting and monitoring plan investments to support more types of employers.
Under this expansion plan, ING will make Portfolio Blueprint available to healthcare, education and not-for-profit employers sponsoring qualified 401(a), 401(k) and 403(b) retirement plans.
Portfolio Blueprint powered by Morningstar Associates, is currently offered to ING’s ERISA 401(a) and 401(k) corporate plan sponsor customers.
Through Portfolio Blueprint program, ING plan sponsor clients can elect to receive: professional and objective fund analysis from an independent third party; a fully diversified menu of investment options; professionally drafted Investment Policy Statement (IPS); quarterly monitoring reports and memos; and acknowledgment of fiduciary responsibility by Morningstar Associates for their investment advisory services.
ING US Retirement Services president of Public Markets Brian Comer said that today’s retirement plan sponsors, including those in non-corporate sectors, face greater regulation, tighter budgets and reduced resources. Many also lack the in-house expertise needed for proper plan administration.
"ING’s Portfolio Blueprint program addresses this substantial challenge and can now provide sponsors across various markets with cost-effective investment expertise and fiduciary support, regardless of whether they work with a financial professional," Comer said.
ING offers a wide selection of proprietary and non-proprietary funds under the Portfolio Blueprint program. Plan sponsors select from a list of eligible investments recommended by Morningstar Associates. Portfolio Blueprint then allows sponsors and their financial professionals the flexibility to choose which investment options best suit the needs of their workforce.