Voya 2013 Annual Report Download - page 443

under the ING Group Long-Term Equity Ownership Plan (the “LEO Plan”). Beginning in March 2011, we
granted equity-based awards under the LSPP in the form of performance shares and deferred shares. The
Company also granted restricted American Depositary Share (“ADS”) units of ING Group and restricted
performance units under the ING America Insurance Holdings, Inc. Equity Compensation Plan (the “Equity
Plan”). Some of the NEOs continue to have outstanding awards under the GSOP, the LEO Plan, the LSPP and
the Equity Plan, as set forth in the table entitled “—Outstanding Equity Awards Table at 2013 Year End”.
Approval of Compensation Arrangements by Supervisory Board of ING Group
Pursuant to the requirements of the Capital Requirements Directive (“CRD”) of the European Commission,
and the related implementing legislation and instruments of the Kingdom of the Netherlands, as a majority-
owned subsidiary of ING Group, prior to March 25, 2014 we were required to submit all compensation of
“identified staff” for purposes of CRD (which includes all of our NEOs) to the approval of the Supervisory Board
of ING Group (“Supervisory Board”). This arrangement, which is also formalized in our Shareholder Agreement
with ING Group, applied for as long as we were subject to CRD.
During the period between our IPO and December 31, 2013, the only such submission to the Supervisory
Board relating to the compensation of our NEOs was in respect of changes to the compensation package of
Mr. Becker. Such changes were approved by our Compensation and Benefits Committee in October 2013 and
subsequently approved by the Supervisory Board. In addition, all annual incentive compensation amounts and
long-term equity-based incentive compensation paid or awarded to our NEOs in 2014 in respect of 2013
performance was also subject to Supervisory Board approval.
Health and Insurance Plans
Our NEOs are currently eligible to participate in Company-sponsored benefit programs, offered on the same
terms and conditions as those made generally available to all full-time and part-time employees. Basic health, life
insurance, disability benefits and similar programs are provided to give employees access to healthcare and
income protection for themselves and their family members. The NEOs also have access to a supplemental long-
term disability program, facilitated by the Company, generally available to a broad group of highly paid
Company employees on an elective basis. The cost of participating in the supplemental disability program is
borne entirely by each NEO. Mr. Steenbergen became eligible to participate in these programs in connection with
his localization in 2013. See “—Expatriate Arrangements and Localization of Mr. Steenbergen” for more
information relating to Mr. Steenbergen’s health and welfare benefits before his localization.
Tax-qualified and Non-qualified Retirement and Other Deferred Compensation Plans
Our NEOs generally are eligible for the same retirement benefits as full-time and part-time employees under
the Company’s broad-based, tax-qualified retirement plans. As described further in the narrative description
preceding the table entitled “—Pension Benefits in 2013”, below, the Company sponsors the Retirement Plan, a
tax-qualified, noncontributory, cash balance formula, defined benefit pension plan for eligible employees. See
the narrative below under “Pension Benefits”.
The Company also sponsors the ING U.S. Savings Plan and ESOP (the “401(k) Plan”), a tax-qualified
defined contribution plan with an employee stock ownership plan feature. Under the 401(k) Plan, the Company
will match 100% of a participant’s contribution up to six percent of eligible compensation.
In addition to the tax-qualified retirement benefits described above, the Company also maintains the ING
U.S. Supplemental Executive Retirement Plan (the “SERP”) and the ING U.S. 409A Deferred Compensation
Savings Plan (the “DCSP”). The SERP and the DCSP permit our NEOs (including Mr. Steenbergen who became
eligible to participate in the DCSP in connection with his localization) and certain other employees whose
participation in our tax-qualified plans is limited due to compensation and contribution limits imposed under the
Internal Revenue Code (the “Code”), to receive the benefits on a non-qualified basis that they otherwise would
21