ING is a leading provider of Deferred Compensation and Defined Contribution plan education, administration, and investment services to governmental plan sponsors and participants. We have provided services to Defined Contribution plans since 1967 and to Deferred Compensation plans for over 30 years.

What is a 457(b) Deferred Compensation Plan?

A 457(b) Deferred Compensation plan, offered through a group annuity, is a retirement plan designed for long-term investing that allows you to make contributions into an account established on your behalf. Your contributions are made on a pre-tax basis, and all earnings are tax-deferred. The amounts accumulated on your behalf are distributed at retirement, or due to another qualifying event, such as separation from service or death, and are subject to taxation upon distribution.

Account values fluctuate with market conditions and when surrendered, the principal may be worth more or less than the original amount invested. An annuity does not provide any additional tax deferral benefits, as tax deferral is provided 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, 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 and information book contain this and other information, which can be obtained by contacting your local representative at (202) 442-9749 or (800) 584-6001. Please read carefully before investing.

Who is eligible to participate in DCPLUS?

Eligible employees for DCPLUS are all employees of:

1. An agency under the personnel authority of the Mayor;

2. A subordinate agency as defined in the Comprehensive Merit Personnel Act of 1978; and

3. If approved by the Mayor, an agency not under the personnel authority of the Mayor or an independent agency.

Please Note: There is no age or length of service requirement.

How do I enroll in the Plan?

There are two ways to enroll in DCPLUS. You may enroll with ING's local representatives or via the Internet.

If you enroll with a local representative, you will need to have your agency/organization code readily available and complete the following two forms:

A District of Columbia Participation Agreement that authorizes payroll deductions for the amount that you wish to contribute to DCPLUS.

An Enrollment Form that specifies your investment choices, allocation, and beneficiary information.

Both of these forms are to be returned to ING at the local office address indicated in the top right hand corner of the forms.

If you enroll via the Internet, you will need to have the “Enroll by Internet” instructions included with your DCPLUS enrollment kit, available from your local ING representatives and follow these two steps:

Complete a paper copy of the District of Columbia Participation Agreement and return it to the local office address indicated in the top right hand corner of the form.

Complete the enrollment process by clicking the Enrollment tab and scrolling down to the “Through the Internet” section.

Please Note: It generally takes two pay periods from the date the payroll office receives your completed Participation Agreement in good order for your salary deductions to begin. Unless you have just been hired, the effective date can be no earlier than the first pay period of the month following the implementation of the Participant Agreement form.

What is the maximum amount I can contribute to DCPLUS?

For the year 2009, under DCPLUS, the maximum annual contribution amount is the lesser of 100% of includible compensation or $16,500.

You may be eligible for increased contributions:

During the three years prior to the year you attain Normal Retirement Age under a special 457(b) catch-up provision.

You reach age 50 or older by the end of the calendar year.

For additional information on the special 457(b) catch-up provision or the increased contribution limits for workers who attain age 50, please refer to the brochure "How Much Can I Contribute?"

How do I increase or decrease my contribution amount?

In order to change your contribution amount, you will need to complete a District of Columbia Participation Agreement that authorizes payroll deductions for the new amount. This form must be returned to ING at the address located in the top right corner of the form.

You may increase or decrease your contribution amount at any time. Your change will generally be effective two pay periods after the payroll office receives your contribution change request in good order. The effective date can be no earlier than the first pay period of the month following the completion of the form.

Can I stop contributing at any time?

Yes. Your full compensation will be restored two pay periods following the payroll office's receipt of your request in good order. You will need to complete a District of Columbia Participation Agreement reflecting your intent to stop contributions, and forward the completed form to ING at the address located in the top right corner of the form.

The amounts previously contributed will remain in the Plan until you become entitled to a distribution under the Plan provisions.

Can I roll over into the Plan?

You will be permitted to roll over benefits from another employer-sponsored eligible retirement plan or traditional IRA. Note that amounts rolled into a governmental 457(b) plan from another plan type would be subject to any applicable 10% premature penalty tax if distributed prior to age 59½ (unless an IRS exception applies).

When can I receive a distribution of my benefits under the Plan?

Distributions are allowed only upon your separation from service, attainment of age 70½ without separation from service, death or the occurrence of an unforeseeable emergency, which are considered to be triggering events. Distribution of amounts held in rollover accounts may be made without a triggering event.

The Plan also includes a provision allowing the in-service distribution of accounts that do not exceed $5,000 if:

1. You have not made any contributions to the Plan during the prior two years; and

2. You have not received this type of in-service distribution in the past.

Are loans available under the Plan?

At this time, no loans are allowed under the Plan.

What do I need to do when I become entitled to a distribution from the Plan?

You are no longer required to make a benefit election when you retire or separate from service. You can choose from several options:

Postpone any decision on the payment of your benefits to a future date (no later than the April 1 following the calendar year in which you attain age 70½);

Receive your benefits immediately by selecting one of the distribution options available under the Plan. Please refer to the “Payment Options” section under “Plan Highlights” or;

Roll over your eligible rollover distribution into another employer-sponsored, eligible retirement plan (an eligible retirement plan is a 401(a) qualified plan; including a 401(k) plan, profit sharing plan, defined benefit plan, stock bonus plan, and money purchase plan; a 403(b) tax-sheltered annuity program, a 403(a) annuity plan, another governmental 457(b) deferred compensation plan, or traditional IRA.

Once I choose a payment method, can I change how I'd like to receive my benefits?

Yes. If at a later date you decide your existing payment option may not be appropriate for your current situation, you may make a change. Please note: you will not be permitted to make a change if you previously elected an annuity payment option.

When am I required to begin receiving distributions?

The IRS requires that distributions under a 457(b) plan begin no later than the April 1st of the calendar year following the calendar year in which you attain age 70½ or separate from service, whichever occurs later. If you fail to receive the Required Minimum Distribution (RMD) for any tax year, a 50% excise tax is imposed on the required amount that was not timely distributed.

What is a Systematic Withdrawal Option (SWO)? How and when are benefits paid under SWO?

A Systematic Withdrawal Option, or SWO, is one of the forms of periodic payment options available for the distribution of your benefits. Under SWO, you elect whether to receive your benefits in a specified amount or over a stated period of time, based on certain minimum payment options. Once your election is made, ING will pay your installment payments automatically in the method you select. You may choose to receive benefits monthly, quarterly, semi-annually or annually. While you are receiving your SWO payments, you are still able to direct the investment of amounts remaining in the Plan. You may change the amount and timing of your SWO payments, as long as you receive the minimum required distributions under the Plan.

Can I rollover my benefits to another plan?

At retirement or separation from service, you are permitted to rollover your benefits to another employer-sponsored eligible retirement plan or traditional IRA.

All distributions are eligible for rollover except for:

IRS minimum required distributions payable on or after you attain age 70 ½; and

Periodic payments made over your life or a specified period of 10 years or more.

Amounts rolled from a governmental 457(b) plan to another type of eligible employer plan or traditional IRA would be subject to any applicable 10% premature penalty tax if distributed prior to age 59½ (unless an IRS exception applies).

I have recently been divorced. How will amounts awarded to my former spouse be taxed?

Amounts awarded and paid to a former spouse as a result of a divorce will be taxable to that former spouse.

How do I obtain forms for a distribution?

If you are eligible to receive a distribution under DCPLUS, you must obtain a termination/distribution form by calling ING's customer service center at (800) 584-6001. The completed termination/distribution form must be filled-out and signed by your respective SPO/Human Resources representative, attached with a personnel action form (Form 1), and mailed to the return address on the distribution form. A missing personnel action form can be obtained by contacting the last department you worked for.

What is an Unforeseeable Emergency Withdrawal and how do I qualify for one?

An unforeseeable emergency withdrawal is defined by the IRS as a severe financial hardship of the participant, beneficiary or alternate payee resulting from: An Illness or Accident, Loss of the participant’s, beneficiary’s or an alternate payee’s property due to casualty or Similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the participant, beneficiary or alternate payee. For more information on Unforeseeable Emergency Withdrawals, Click Here.

How do I obtain forms for an Unforeseeable Emergency?

When you incur an unforeseeable emergency, you should call ING's Customer Service Center at (800) 584-6001 to request forms. An ING Customer Service Associate can answer any questions you have regarding your eligibility for a withdrawal.

How do I find out more about my distribution choices?

Information on your available distribution choices can be found in the “Plan Highlights” section under “Payment Options.” In addition, ING's local representatives are available to provide you with one-on-one meetings to discuss your distribution options under the Plan. ING's Customer Service Associates can also answer any specific distribution questions that you may have.

How do I change my beneficiary under DCPLUS?

You have two convenient ways to update your beneficiary elections. You may either complete the Beneficiary Designation Form and return it to the address provided at the top of the form. Or, you may update your beneficiary elections by logging in to your account and selecting the "Beneficiary Information" link located under the "My Account" menu option, Click Here for a preview.

When am I subject to taxation?

All of the payments you receive from DCPLUS are subject to federal and state income taxes when paid.

Federal income tax withholding will apply to your payments, as described below, based on whether you were eligible to rollover the distribution.

If you receive a distribution that was eligible to be rolled over, a mandatory 20% will be withheld for federal tax purposes at the time of payment.

If you receive a distribution that was not eligible to be rolled over, 10% will be withheld for federal tax purposes at the time of payment. However, you may elect to have no withholding withheld.

Amounts distributed from a 457(b) plan are not subject to the federal 10% premature penalty tax if distributed prior to attaining age 59½. However, if you have previously rolled over amounts from a plan other than a governmental 457(b) plan, such rollover amounts will be subject to this 10% penalty tax if distributed prior to attaining age 59½, unless an IRS exception applies. IRS exceptions include payments made:

To your beneficiary as a result of your death;

Upon your separation from service/retirement on or after you attain age 55;

In substantially equal amounts over your life/life expectancy; or

As a result of your total and permanent disability.

Insurance products issued by ING Life Insurance and Annuity Company. Financial planning and securities offered through ING Financial Advisers, LLC (member SIPC), One Orange Way, Windsor, CT 06095-4774, or other broker/dealers with which it has a selling agreement.