ING Group
Annuities for retirement plansPosted by RJ and Makay on Feb 13, 2012 |
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The U.S. Treasury Department announced recently that it would facilitate the expansion of annuities and other guaranteed lifetime income products for retirement plans. The department has put forward two regulations that will make it easier to purchase an annuity through company-funded pensions or 401(k) accounts. Annuities pay out guaranteed lifetime income streams in exchange for a lump sum up-front payment.
Capital One Financial has agreed to buy ING Group’s U.S. online banking unit for $9 billion in cash and stock in a major effort to add to offerings beyond credit cards and other consumer lending. Capital One will pay $6.2 billion in cash and issue $2.8 billion worth of new shares to ING, giving ING a 9.9% stake, the companies announced Thursday.
