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ORP and TDA Payout Options

If you change employers, both your vested employee and employer account balances are available to take with you.

When you retire, ING provides a wide variety of payout options (subject to your plan provisions) including:

  • A full or partial withdrawal (may be subject to federal withholding and possible tax penalties)
  • Systematic payout options
  • Payments guaranteed for your lifetime or for a specified period*
  • Interest-only option
  • Rollover to an IRA

    • If you die before you retire, your beneficiary may elect to receive the value of your account or select one of several settlement options.

    *Guarantees are based on the claims-paying ability of ING Life Insurance and Annuity Company.

    ING does not offer tax advice. Please consult a tax advisor or attorney before making a tax-related investment/insurance decision.

    Prospectuses containing more complete information, including charges and expenses, are available. Please read them carefully before you invest or send money. Variable annuities are long-term investments designed for retirement purposes. If early withdrawals are taken prior to age 59½, a 10% federal penalty may apply. Money distributed from the annuity will be taxed as ordinary income in the year the money is received. Account values fluctuate with market conditions, and when surrendered the principal may be worth more or less than its original amount.

     

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    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.