This is an updated version of an earlier story.
Windsor’s ING U.S. will stay third-party gatekeeper for another year for the $3.5 billion in retirement nesteggs belonging to about 55,000 Connecticut state employees, authorities say.
The retirement-services arm of the Dutch insurance-financial services giant ING Group N.V. says it has handled various deferred compensation and defined contribution plans for the state since 1974.
In addition, eligible state employees will have access to an expanded investment lineup, which includes a selection of asset allocation portfolios that offer a customized strategy designed to meet specific investor profiles.
The state Comptroller’s Office says the original contract was for four years, with a one-year renewal option. The state exercised that one-year option.
The contract bears no cost to the state, a comptroller’s office spokeswoman says.
The contract is overseen by State Treasurer Denise Nappier’s office.
