Company: INGVF
Filing Date: 2025-06-25
Form Type: 11-K
Source: 0001193125-25-146837
Chunk: 5

Company: ING GROEP NV
Filing Date: 2025-06-25
Form: 11-K
Chunk 5
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 the maximum match available under the Plan. In the event the match as calculated on periodic payroll cycles results in a shortfall of match due to changes in contribution percentages, the Company will calculate and contribute the difference between the Company match contributions for the Plan year and apply such shortfall in Company contribution to the participant’s deferral contributions and compensation for the entire Plan year and the Company contribution funded during the Plan year if the participant is employed as of the last day of the Plan year. Contributions are subject to certain Internal Revenue Service (“IRS’) limitations. Investments Elections A participant may elect to direct the employee and employer contributions to each, or any investment fund specified in multiples of 1%. Changes in the proportion of contributions and transfers between funds are also permissible, subject to certain restrictions as defined in the Plan. -6-

Vesting Participants are fully vested in their contributions and earnings thereon. Employees will be 25% vested in the Company match portion of their account with each year of service they complete and fully vested after four years of service. Forfeitures Forfeitures from non-vestedparticipants’ accounts are used to reduce future Company contributions or to pay for administrative expenses. As of December 31, 2024, and 2023, forfeited non-vestedaccounts totaled $140,855 and $393,308, respectively. During 2024, $138,096 of the forfeitures was used to pay certain administrative expenses and $505,674 was used to reduce Company contributions. Revenue Sharing The Plan receives revenue credits from the funds managed by Fidelity Management Trust Company quarterly. The revenue credit account can be used to pay plan expenses or can be allocated to eligible plan participants as defined in the agreement. Revenue earned from this agreement is recorded as other income amount in the statement of changes of net assets available for benefits. The Plan received approximately $167,000 of revenue credits during 2024, approximately $143,000 of which were allocated to eligible Plan participants and $23,000 of which were used to pay plan expenses. As of December 31, 2024 and 2023, approximately $60,000 and $51,000, respectively, remains in the revenue credit account. Any excess revenue over the Plan expenses during the year will be used to pay future Plan expenses or allocated to eligible plan participants. Participant Accounts Each participant’s account is credited with the participant’s contributions and the related Company contributions. Plan earnings and losses are allocated to participant accounts based upon account balances. Payment of Benefits Prior to termination of service,