Oklahoma Teachers Retirement System 403(b) Plan

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Welcome to the Oklahoma Teachers Retirement System 403(b) Tax Sheltered Annuity Plan website

ING and Oklahoma Teachers Retirement System (OTRS)

ING Life Insurance and Annuity Company (ING) has been chosen as the investment provider for the OTRS 403(b) Tax Sheltered Annuity Plan. At ING, we are committed to helping you plan for your financial future. Your local ING representative will provide you with the tools you need to make informed decisions. From transition through retirement and beyond, ING is there to help you keep your strategy in line with your changing needs.

This website is designed for employees as an easier way to access information about the Program. This site will provide you with information about the enhancements to the Program, investment choices, educational materials, interactive calculators and the services available from ING. If you are currently participating in the Program, you will also have online access to your account.

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You should consider the investment objectives, risks, and charges and expenses of the mutual funds distributed through a retirement plan carefully before investing. The fund prospectuses and an information booklet containing this and other information can be obtained by contacting your local representative. Please read the information carefully before investing.

Important note:
Mutual funds under a 403(b) custodial account agreement are intended as long-term investments designed for retirement purposes. Money will be taxed as ordinary income in the year the money is distributed. Account values fluctuate with market conditions, and when surrendered the principal may be worth more or less than the original amount invested. A group fixed annuity is an insurance contract designed for investing for retirement purposes. The guarantee of the fixed account is based on the claims-paying ability of the issuing insurance company. Although it is possible to have guaranteed income for life with a fixed annuity, there is no assurance that this income will keep up with inflation. Early withdrawals, if taken prior to age 59½ may be subject to the IRS 10% premature distribution penalty tax. Amounts distributed will be taxed as ordinary income in the year it is distributed. An annuity does not provide any additional tax deferral benefit; tax deferral is provided by the plan. Annuities may be subject to additional fees and expenses to which other tax-qualified funding vehicles may not be subject. However, an annuity does offer other features and benefits, such as lifetime income payments and death benefits, which may be valuable to you.

For 403(b)(7) custodial accounts, employee deferrals and employer contributions (including earnings) may only be distributed upon your: attainment of age 59½, severance from employment, death, disability, or hardship.

Under the OTRS Plan, hardship withdrawals are limited to employee deferrals.

Neither ING nor its affiliated companies or representatives provide tax or legal advice.

Please consult a tax adviser or attorney before making a tax-related investment/insurance decision.

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