In order to provide recordkeeping services to our Plan Sponsors
and participants, ING management, together with their employees,
has developed and continues to maintain a detailed system
of workflow practices, which ensures that the highest standards
of customer satisfaction are achieved. Within these workflows
is a system of "checks and balances", referred to
as internal controls. ING's independent auditors annually
review and evaluate this system of internal controls to ascertain
its operating effectiveness. This examination is referred
to as the "SAS 70" examination.
ING's SAS 70 examination and resulting report concentrates
on the retirement plans relating to ING's defined contribution
business (i.e., 401(a), 401(k), 403(b), and 457 plans) offered
by ING Life Insurance and Annuity Company and its insurance
Why do auditors request the SAS 70 reports?
The SAS 70 report helps our Plan Sponsors to fulfill annual
audit requirements. In performing the annual audit of the
Plan Sponsor's benefit plan, independent plan auditors are
responsible for 1) assessing the degree of risk that ING's
contract and plan administration functions have on the Plan
Sponsor's benefit plan financial statements and 2) determining
the adequacy of ING's internal control environment.
One way for the independent plan auditors to make their
assessment and obtain assurance that ING has adequate internal
controls is by obtaining the SAS 70 report. The SAS 70 report
provides valuable control-related information to the plan
auditors and assists them with fulfilling their audit requirements.
To obtain your copy of the SAS 70 report, click
Copies of the SAS 70 report
obtained from this website are not to be used by individuals
representing ING for the purposes of obtaining new business.
Individuals who need a copy of the SAS 70 report for these
purposes should contact Jane Smith at XXX-XXX-XXXX.