The Department of the Treasury and the Internal Revenue Service released new guidance that is “designed to expand the use of income annuities in 401(k) plans.”
NEW YORK, Jan. 17, 2013 /PRNewswire/ -- ING U.S., Inc. (ING U.S.), a subsidiary of Amsterdam-based ING Groep N.V. (NYSE: ING), announced today that Fred S. Hubbell has been elected to the Board of Directors of ING U.S. Mr. Hubbell is the first independent director elected to the ING U.S. Board and will also serve as a member of the Board's Audit Committee.
"I am very pleased with Fred Hubbell's nomination to the Board of ING U.S.," said Jan Hommen, Chairman of the Board of ING U.S. and CEO of ING Group, the parent company of ING U.S. "Fred has had a long and distinguished career in the insurance industry and we will greatly benefit from his experience, knowledge and judgment."
Mr. Hubbell previously served as a member of the Executive Board of ING Group from 2000 to 2006 and was Chairman of Insurance and Asset Management Americas for ING Group from 2004 to 2006. Mr. Hubbell was a member of the Executive Committee of Financial Services International for ING Group from 1999 to 2000 and served as President and Chief Executive Officer of the United States Life and Annuities Operations for ING Group from 1997 to 1999. Mr. Hubbell retired from ING Group in 2006.
Prior to his time with ING Group, beginning in 1989, Mr. Hubbell served as President and Chief Executive Officer of Equitable Life Insurance Company of Iowa. Beginning in 1993, until ING Group's acquisition of Equitable Life Insurance Company of Iowa in 1997, he served as both Chief Executive Officer and Chairman of Equitable Life Insurance Company of Iowa.
Mr. Hubbell serves on the Board of Directors of The Macerich Company, the Board of Visitors of the University of IowaCollege of Business, the Board of Directors of the Community Foundation of Greater Des Moines, and as Chair of the Board of Trustees of Simpson College.
Dana E. Ripley
ING Group Investor Relations
About ING U.S.
ING U.S., Inc. (ING U.S.) is the parent company of the U.S.-based Retirement, Investment and Insurance operations of Amsterdam-based ING Groep N.V. (NYSE: ING). The ING U.S. family of companies offers a comprehensive array of financial services to retail and institutional clients, including life insurance, retirement plans, mutual funds, managed accounts, alternative investments, institutional investment management, annuities, employee benefits and financial planning.
SOURCE ING U.S., Inc.