SUNY ORP

Investment Options

With SUNY ORP, you have access to a variety of investment options from some well known money managers. Each option is designed for different investment objectives, allowing you to tailor a retirement portfolio to fit your needs. From the day you enroll, you have the flexibility to allocate your assets and future contributions among the various options, subject to ING’s policy on market timing and excessive trading. This applies not only to current or future contributions, but to existing assets as well.

If you participate in the ORP, you also can transfer your pension funds to the Retirement Savings Program. Your local representative can assist you with this process.

Below is a chart of the investment options from which you may build your portfolio – just click on the link for each option for more information:

To better understand the investment option information provided to you, please carefully review this additional information about types of investment risks and glossary of terms and statistics found on the fund fact sheets. Documentation will also provide instructions about how to obtain any underlying fund prospectuses. Please click here.

You should consider the investment objectives, risks, charges, and expenses of the variable product and its underlying fund options carefully before investing. The prospectus contains this and other information. You may obtain a prospectus by contacting your ING representative or the Company at the address listed below. Please read the prospectus carefully before investing.

Investment Option	Fund code
Stability of Principal
ING Fixed Plus Account	019
ING Guaranteed Accumulation Account	GAA
ING Money Market Portfolio An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the fund seeks to preserve the value of your investment at $1.00 per share, there is no assurance it will be able to do so. While the fund's objective includes the preservation of capital, it is possible to lose money by investing in the fund.	003
Bonds
Fidelity® VIP High Income Portfolio- Initial Class1	132
ING PIMCO High Yield Portfolio – Institutional Class2	1159
ING PIMCO Total Return Portfolio- Service Class2	439
ING Intermediate Bond Portfolio – Class I	004
ING Oppenheimer Strategic Income Portfolio- Initial Class2	422
PIMCO VIT Real Return Portfolio – Administrative Class	833
Asset Allocation
Fidelity® VIP Asset Manager Portfolio- Initial Class1	126
ING Solution Income Portfolio – Service Class	768
ING Solution 2015 Portfolio – Service Class	747
ING Solution 2025 Portfolio – Service Class	759
ING Solution 2035 Portfolio – Service Class	762
ING Solution 2045 Portfolio – Service Class	765
ING Strategic Allocation Conservative Portfolio	033
ING Strategic Allocation Growth Portfolio	031
ING Strategic Allocation Moderate Portfolio	032
There is no guarantee that any investment option will achieve its stated objective. Principal value fluctuates and there is no guarantee of value at any time, including the target date. The "target date" is the approximate date when you plan to start withdrawing your money. When your target date is reached, you may have more or less than the original amount invested. For each target date Portfolio, until the day prior to its Target Date, the Portfolio will seek to provide total returns consistent with an asset allocation targeted for an investor who is retiring in approximately each Portfolio's designation Target Year. The Target Year is specified in the Portfolio's name. For example, the ING Solutions 2045 Portfolio bears an asset allocation that the investment adviser believes balances the risk and return objectives of the "average" investor who will be retiring in the year 2045. With the exception of ING Solution Growth and Income Portfolio, ING Solution Growth Portfolio, ING Solution Income Portfolio and ING Index Solution Income Portfolio, each Portfolio is structured and managed around a specific target retirement or financial goal date (”Target Date”) as follows: 2045, 2035, 2025 and 2015. The ING Solution Growth and Income Portfolio, ING Solution Growth Portfolio, ING Solution Income Portfolio and ING Index Solution Income Portfolio are for those who are retired, nearing retirement or in need of drawing down income from their Portfolio soon. Prior to choosing a Target Date Portfolio, investors are strongly encouraged to review and understand the Portfolio's objectives and its composition of stocks and bonds, and how the asset allocation will change over time as the target date nears. No two investors are alike and one should not assume that just because they intend to retire in the year corresponding to the Target Date that that specific Portfolio is appropriate and suitable to their risk tolerance. It is recommended that an investor consider carefully the possibility of capital loss in each of the target date Portfolios, the likelihood and magnitude of which will be dependent upon the Portfolio's asset allocation. On the Target Date, the Portfolio's investment objective will be to seek to provide a combination of total return and stability of principal consistent with a low to moderate risk asset allocation which is targeted to the "average" retiree. Stocks are more volatile than bonds, and portfolios with a higher concentration of stocks are more likely to experience greater fluctuations in value than portfolios with a higher concentration in bonds. Foreign stocks and small and midcap stocks may be more volatile than large cap stocks. Investing in bonds also entails credit risk and interest rate risk. Generally investors with longer timeframes can consider assuming more risk in their investment portfolio. The ING Solution PortfoliosSM are actively managed and the asset allocation adjusted over time. The portfolios may merge with or change to other portfolios over time. Refer to the prospectus for more information about the specific risks of investing in the various assets classes included in the ING Solution Portfolios.
Balanced
Calvert Social Balanced Portfolio	101
ING MFS® Total Return Portfolio – Institutional Class2,3	827
ING Balanced Portfolio- Class I	008
ING MFS® Total Return Series – Initial Class3	138
Large Cap Value
Fidelity® VIP Equity-Income Portfolio - Initial Class1	108
Fidelity® VIP Index 500 Portfolio*- Initial Class1	131
ING Growth and Income Portfolio-Class I	001
ING Index Plus LargeCap Portfolio-Class I	035
ING Thornburg Value Portfolio – Initial Class	100
ING Value Opportunity Portfolio – Class I	041
Large Cap Growth
Fidelity® VIP Contrafund® Portfolio - Initial Class1	133
ING BlackRock Large Cap Growth Portfolio2	2015
ING Legg Mason Partners Aggressive Growth Portfolio – Initial Class2	106
ING T. Rowe Price Growth Equity Portfolio – Initial Class2,4	111
ING UBS U.S. Large Cap Equity Portfolio – Initial Class2	105
Small/Mid/Specialty
FTVIP Franklin Small Cap Value Securities Fund – Class 25	073
ING Baron Small Cap Growth – Service Class2	436
ING Global Resources Portfolio – Service Class	2040
ING T. Rowe Price Diversified Mid Cap Growth Portfolio - Initial Class2,4	449
ING Index Plus MidCap Portfolio – Class I	053
ING Index Plus SmallCap Portfolio – Class I	052
ING Clarion Global Real Estate Portfolio- Inst Class	1613
ING Small Company Portfolio – Class I	042
Lord Abbett Series Fund – Mid-Cap Value Portfolio – Class VC	075
Global / International
ING JPMorgan Emerging Markets Equity Portfolio – Institutional Class2	1123
ING Templeton Foreign Equity Portfolio Initial Class	1586
ING Oppenheimer Global Portfolio - Initial Class2	432
ING International Value Portfolio – Class I	228

1 Fidelity Investments & Pyramid Design are registered trademarks of FMR Corp.

2. Sub advised by ING Partners, Inc. Directed Services LLC is the investment adviser for these funds

3. MFS® and/MFS Investment Management® are registered trademarks of Massachusetts Financial Services Company.

4. T. Rowe Price, Invest With Confidence, the Big Horn Sheep and the logo they compose are trademarks or registered trademarks of T. Rowe Price Group, Inc. in the U.S. and other countries.

5. Franklin and Templeton are registered trademarks of Franklin Resources, Inc. or its subsidiaries.

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

Important Information

Variable annuities are long-term investments for retirement. Withdrawals prior to age 59½ may be subject to a 10% IRS premature distribution penalty tax. Amounts distributed will be taxed as ordinary income in the year the money is distributed. Account values fluctuate with market conditions, and when surrendered the principal may be worth more or less than its original amount invested. Tax deferral is provided by your employer’s plan, not by the annuity, so investing in an annuity does not provide you any additional tax-deferral benefit. Annuities may be subject to additional fees and expenses to which other tax-qualified plan funding vehicles may not be subject. However, annuities provide features and benefits such as lifetime income payments and death benefits which may be valuable to you.

Neither ING or 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.