What is ING? I purchased an anuity from them through my job... what is it?

I do not understand a lot about investments, retirement, etc. as I am fairly new in the workfoce (just over 2 years now as a teacher). A representative from ING came to our school to speak with teachers about getting an annuity. He discussed it with me, but I still don't know exactly what I got myself into. It sounded like a savings plan of sorts, but I wanted a simple definition of what I signed up for. Should I stay with it? Advice please!

Public Comments

1. ING is an international bank with a strong Internet presence. We can't tell you any details about the particular plan that was offered to you -- they probably offer dozens of different types of savings and investment plans. Didn't the representative leave any literature for you to read? If you don't *fully* understand what the plan is, DON'T sign up for it. You might want to discuss this with your co-workers, or with someone whose advice you trust who can read over the literature and explain it to you if you still don't get it.