ING U.S., Windsor, Conn., has hired David Bedard as president of its Annuities business segment. Part of ING U.S.’s Retirement Solutions business, the segment focuses on sales of fixed annuities.
In his new role, Bedard is responsible for product, financial management and the operating performance of the fixed annuity business. He will also serve as a member of ING’s Retirement Solutions executive team, collaborating on overall business strategy and direction.
Lifetime payout rates for Nationwide L.inc with joint option will increase by 0.25 percent for most age bands, meaning payouts for someone starting income at age 65 will be 4.75 percent instead of 4.5 percent, the company states.