497 1 suppls87131dated112505.htm

ING Insurance Company of America

Variable Annuity Account I

 

Retirement Master

 

Supplement dated November 25, 2005

to the Contract Prospectus, Contract Prospectus Summary, and

Statement of Additional Information, each dated April 29, 2005, as supplemented

 

The information in this Supplement updates and amends certain information contained in the Contract Prospectus, Contract Prospectus Summary and Statement of Additional Information (SAI). You should read this Supplement along with the current Contract Prospectus, Contract Prospectus Summary, and SAI.

 

Effective December 5, 2005, ING VP MagnaCap Portfolio (Class I) will be merged into the ING VP Value Opportunity Portfolio (Class I). After the close of business on December 2, 2005, all existing account balances invested in the ING VP MagnaCap Portfolio will be transferred to the ING VP Value Opportunity Portfolio. Accordingly, as a result of the merger, effective December 5, 2005 all references to the ING VP MagnaCap Portfolio in the contract prospectus, contract prospectus summary and SAI are deleted.

 

Unless you provide us with alternative allocation instructions, all future allocations directed to the ING VP MagnaCap Portfolio will be automatically allocated to the ING VP Value Opportunity Portfolio. You may give us alternative allocation instructions at any time by contacting our Customer Service Center at:

 

ING

USFS Customer Service

Defined Contribution Administration, TS21

151 Farmington Avenue

Hartford, CT 06156-1277

 

1-800-262-3862

 

See also the Transfers section of your contract prospectus for further information about making fund allocation changes.

 

 

 

 

 

 

 

 

Securities offered through ING Financial Advisers, LLC (Member SIPC), 151 Farmington Avenue, Hartford, CT 06156, or through other Broker-Dealers with which it has a selling agreement.

 

 

X.87131-05B
C05-1118-006R (11/05)

 


November 2005

 

 

 

 

 

ING Insurance Company of America

Variable Annuity Account I

 

Retirement Master

 

Supplement dated November 25, 2005 to the

Contract Prospectus, Contract Prospectus Summary and

Statement of Additional Information, each dated April 29, 2005

 

The information in this Supplement updates and amends certain information contained in the Contract Prospectus, Contract Prospectus Summary and Statement of Additional Information (SAI), each dated April 29, 2005, as supplemented. Please read it carefully and keep it with your current Contract Prospectus, Contract Prospectus Summary and SAI.

 

1. Effective October 31, 2005, ING Salomon Brothers Fundamental Value Portfolio changed its name to ING Davis Venture Value Portfolio. Accordingly, all references to ING Salomon Brothers Fundamental Value Portfolio in the Contract Prospectus, Contract Prospectus Summary and SAI are replaced with ING Davis Venture Value Portfolio.

 

2. The information for the ING Salomon Brothers Fundamental Value Portfolio appearing in the Fund Expense Table beginning on page 7 of the Contract Prospectus is deleted and replaced with the following to reflect changes in fund name and changes in fund fees and expenses effective October 31, 2005.

 

Fund Name

Management (Advisory) Fees

12b-1 Fee

Other Expenses

Total Annual Fund Operating Expenses

Fees and Expenses Waived or Reimbursed

Net Annual Fund Operating Expenses

ING Davis Venture Value Portfolio (Service Class)(13)

 

0.80%

 

--

 

0.35%

 

1.15%

 

--

 

1.15%

 

 

3. The information for ING Salomon Brothers Fundamental Value Portfolio appearing in Appendix III -- Description of Underlying Funds in the Contract Prospectus is deleted and replaced with the following to reflect changes in fund name, subadviser and principal investment strategies effective October 31, 2005.

 

Fund Name

Investment Adviser/
Subadviser

Investment Objective(s)/Summary of
Principal Investments

ING Partners, Inc. -- ING Davis Venture Value Portfolio (formerly ING Salomon Brothers Fundamental Value Portfolio)

(Service Class)

ING Life Insurance and Annuity Company

Subadviser: Davis Selected Advisers, L.P.

A non-diversified portfolio that seeks long-term growth of capital. Under normal circumstances, invests majority of assets in equity securities issued by large companies with market capitalizations of at least $10 billion.

 

 

 

 

X.87131-05C
C05-1118-006R (11/05)


Page 1 of 2


November 2005

 

 



 

 

6. The information for ING Salomon Brothers Fundamental Value Portfolio appearing in the Fund Expense Table on page 10 of the Contract Prospectus Summary is deleted and replaced with the following to reflect changes in fund name and changes in fund fees and expenses effective October 31, 2005.

 

 

Column 1

Column 2

Column 3

Column 4

Column 5

Fund Name

Maximum Mortality and Expense Risk Charge

Maximum Administrative Expense Charge (Not Currently Charged)

Maximum Total Subaccount Annual Charges

Total Annual Fund Operating Expenses

Total Amount Expenses (Subaccount Plus Fund Expenses)

ING Davis Venture Value Portfolio (Service Class)


1.00%


0.25%


1.25%


1.15%


2.40%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Securities offered through ING Financial Advisers, LLC (Member SIPC), 151 Farmington Avenue, Hartford, CT 06156, or through other Broker-Dealers with which it has a selling agreement.

 

 

X.87131-05C
C05-1118-006R (11/05)


Page 2 of 2


November 2005