ING's US Retirement Services operations has been selected as the new, exclusive retirement plan service provider for the Massachusetts-based Mount Holyoke College defined contribution retirement plan, effective 1 July 2011.

ING said faculty and staff of the college will have access to its local representatives, who will be available for face-to-face meetings with participants on a group or individual basis.

The insurer said employees will also be able to leverage a range of ING planning tools and educational resources to help them.

Mount Holyoke College employs more than 900 faculty and staff members. The savings program, which consists of a 403(b) and a 457 plan, has over $200m in assets under management.

Mount Holyoke College director of human resources Lauren Turner said the collage selected ING as the sole record keeper for the retirement plan after a comprehensive evaluation and review process.

"We are confident that ING will provide our employees with a very high level of quality service in support of their planning and saving for retirement," Turner said.