April 6, 2010 (FinancialWire) — Dutch financial services firm ING (NYSE: ING) said that its U.S. Retirement Services operations has been chosen by the Kentucky Public Employees' Deferred Compensation Authority to serve as the third party administrator for the state’s supplemental retirement savings program.

The program offers two voluntary defined contribution retirement savings options a 457 and 401(k) deferred compensation plan that public employees can use to set aside pre-tax income for their retirement.

It also has an after-tax Roth 401(k) option as well as both a traditional and Roth Deemed IRA feature.

Under terms of the agreement, ING will provide full recordkeeping services for the program, as well as participant communication and marketing services.

As of December 31, 2009 the Authority had in excess of $1.6 billion in assets and over 75,000 participants enrolled through more than 850 employers, according to ING.

Netherlands-based ING is a global financial institution offering banking, investments, life insurance and retirement services to over 85 million private, corporate and institutional clients in over 40 countries.

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