New York State United Teachers Member Benefits Trust

IFS continues to serve as the Independent Consultant to the NYSUT Member Benefits Trust pursuant to the Assurance of Discontinuance the Trust entered into with the New York State Attorney General, concerning the Trust’s endorsement of 403(b) annuity products sponsored by ING Insurance. The Trust sponsors or endorses a broad variety of benefits for the approximately 500,000 members of New York State United Teachers, the union representing New York State public school teachers outside the City of New York. After studying the Trust and the market for 403(b) products, IFS determined that it would be in the interest of the members for the Trust to continue to endorse retirement products if such products were selected and monitored according to a rigorous RFP and review process.