Service Benefits of the ABA Retirement Funds Program
Service isn’t just something we talk about. We measure it, manage it and deliver it. We take service standards seriously because we understand that by delivering outstanding service day after day, we keep our clients satisfied year after year. The quality of our services is one of many reasons the Program has a current client retention rate of over 98%1.
Each year we survey our clients to learn how we can improve the Program. It is also how we know that a majority of plan sponsors would recommend the Program to their peers. The Program includes performance standards in its agreement with ING 2 which include financial penalties should ING fail to meet timeliness and accuracy. These service standards are monitored quarterly, and demonstrate the Program's commitment to service excellence. Some of the key service standards are listed in the chart below. In total, ING must comply with 23 contractual service standards, with up to $1.5 million in fees at risk each year if those standards are not met.
1 Source: ABA Retirement Funds Program as of 12/31/11.