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4. Why is there a Settlement? The Parties have agreed to the Settlement after extensive negotiations. By agreeing to a Settlement, the Parties avoid the costs and risks of further litigation, and Plaintiffs and the other members of the Class will get compensation and other benefits. Class Counsel have conducted an extensive review of the evidence in the case and the potential risks and benefits of continued litigation. Plaintiffs and Class Counsel agree that the Settlement is in the best interest of the Class. The Court has not made any finding that ILIAC has done anything wrong or violated any law or regulation. 5. How do I get more information about the Settlement? This Notice is only a summary of the lawsuit and the proposed Settlement. It is not a complete description of the lawsuit or the proposed Settlement. You may inspect the pleadings and other papers (including the Settlement Agreement) that have been filed in this lawsuit at the office of the Clerk of the United States District Court for the District of Connecticut, which is located in the Richard C. Lee U. S. Courthouse, United States District Court, 141 Church Street, New Haven, CT 06510. You can also review the Settlement Agreement and related documents at www.ingerisasettlement.com. If you have questions about this Notice or the proposed Settlement, you may contact Lead Counsel (see answer to question 17 for contact information) or the Settlement Administrator (see answer to question 6 for contact information). Do n_1 contact the Court or ILIAC for information about the Settlement. The Settlement Administrator or Class Counsel are the only parties that can answer any questions you may have about the proposed Settlement. 6. Who will administer the Settlement? The Settlement Administrator, Strategic Claims Services, will administer the Settlement, including the processing of the Instruction Form that plans need to fill out and send in to receive any money. You may contact the Settlement Administrator by: (a) sending a letter to Strategic Claims Services, Attn: ING ERISA Settlement, P.O. Box 230, 600 N. Jackson Street, Suite 3, Media, PA 19063; (b) sending an e-mail to info@ingerisasettlement.com; (c) visiting the Settlement website at www.ingerisasettlement.com; or (d) calling (866) 274-4004. THE SETTLEMENT BENEFITS — WHAT YOU MAY GET 7. What does the Settlement provide? ILIAC has agreed to pay a total of $14,950,000, inclusive of all claims for attorneys' fees and costs, as well as payment of Case Contribution Fees and the costs of administering the Settlement. The amount that will be available for distribution to Class Members (known as the "Distributable Settlement Amount") will be $14,950,000 minus the amounts used for other Settlement purposes (Case Contribution Fee, Court -approved Attorneys' Fees to Class Counsel, Administration Costs, and certain taxes and tax -related costs). As part of the Settlement, ILIAC has agreed to change certain of its business practices that relate to the way that ILIAC contracts with Class Members and the information it provides to plans about revenue sharing. 8. How will I benefit from the Settlement? You will benefit in two ways. First, you may be entitled to have your plan receive a portion of the Distributable Settlement Amount in the form of a check. The amount paid to each plan will be determined by a Plan of Allocation. As explained below, all you have to do is submit the enclosed Instruction Form by the deadline for submission. Second, if your plan currently contracts with ILIAC (or if your plan contracts with ILIAC in the future), you will receive the benefit of the changed business practices that ILIAC has agreed to make. Among other things, ILIAC has agreed to provide additional disclosures about the kinds of fees and compensation that it receives and alternative means for Class Members to pay for the services it provides. 2 123