Welcome to the State of Iowa 403(b) Retirement Program Web Site

As a State of Iowa employee, you are eligible to participate in the 403(b) Tax Deferred Annuity program. This program is another retirement savings alternative available to help you achieve your retirement objectives.

ING and the State of Iowa 403(b) Program

ING Life Insurance and Annuity Company (ING) has been chosen as one of the investment providers and the plan administrator for the State of Iowa 403(b) Program. At ING, we are committed to helping you plan for your financial future. Your local ING representative will provide you with the tools you need to make informed decisions. From enrollment through retirement and beyond, ING is there to help you keep your strategy in line with your changing needs.

This Web site is designed for employees as an easier way to access information about the 403(b) Program. This site will provide you with information about the Program, investment choices, educational materials, interactive calculators and the services available from ING. If you are currently participating in the Program, you will also have online access to your account.

You should consider the investment objectives, risks, and charges and expenses of 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.

Important note:

Mutual funds offered through a retirement plan are long-term investments designed for retirement purposes. Mutual fund values fluctuate with market conditions, and when surrendered, the principal may be worth more or less than the original amount invested. A group fixed annuity is a long-term insurance contract designed for investing for retirement purposes. The guarantee of the fixed account is based on the claims-paying ability of the issuing insurance company. Although it is possible to have guaranteed income for life with a fixed annuity, there is no assurance that this income will keep up with inflation. Early withdrawals from the 403(b) plan if taken prior to age 59½ may be subject to an IRS 10% premature distribution penalty tax. Money distributed will be taxed as ordinary income in the year the money is received. An annuity does not provide any additional tax benefit, as tax deferral is provided by the Plan. Annuities may be subject to additional fees and expenses, to which other tax-deferred funding vehicles may not be subject. However, an annuity does offer other features and benefits, such as lifetime income payments and death benefits, which may be valuable to you.

The Internal Revenue Code generally prohibits withdrawals of any contributions and attributable earnings prior to death, disability, age 59½, severance of employment, or financial hardship. (The amount available for hardship is limited to the lesser of the amount necessary to relieve the hardship, or the account value as of 12/31/1988 plus the amount of any salary reduction contributions made after 12/31/1988 (exclusive of any earnings.)

Neither ING nor its affiliated companies or representatives provide tax or legal advice. Please consult a tax adviser or attorney before making a tax-related investment/insurance decision.

Insurance products, annuities, and retirement plan funding issued by ING Life Insurance and Annuity Company. Securities distributed through, and seminars and financial planning offered by, ING Financial Advisers, LLC (member SIPC), One Orange Way, Windsor, CT 06095-4774. These companies are members of ING. Products and services may not be available in all states. Securities also distributed through other broker-dealers with which ING Financial Advisers, LLC has selling agreements.