Variable Annuity Account C

Variable Annuity Account C
December 31, 2013 Annual Report
ING Life Insurance and Annuity Company
Not all funds may be available in all jurisdictions, under all
contracts or under all plans.
Separate Accounts - B1S
PO Box 990063
Hartford CT 06199-0063
April 2014
Dear Valued Customer:
Thank you for providing us with the opportunity to serve you. Fostering relationships with
customers like you is the very foundation of our business.
ING Life Insurance and Annuity Company, (“ING”) remains committed to providing you the
necessary tools and information so you may continue to make informed decisions. As a result,
included with this letter is your 2013 Separate Account annual report which provides updated
financial information on the investment options available within your contract with ING.
On behalf of our dedicated team of employees, we thank you again for your business and look
forward to continuing to deliver exceptional service.
Sincerely,
Maliz Beams
President
ING Life Insurance and Annuity Company
Insurance products, annuities and funding agreements issued by (third party administrative services may also be provided by) ING Life
Insurance and Annuity Company, One Orange Way, Windsor, CT 06095. Securities are distributed by ING Financial Advisers, LLC
(member SIPC). Securities may also be distributed through other broker-dealers with which ING Financial Advisers, LLC has selling
agreements. 158831 | 3015378.X.G-4 | CN1029-13461-1115
RETIREMENT
INVESTMENTS
INSURANCE
FINANCIAL STATEMENTS
Variable Annuity Account C of
ING Life Insurance and Annuity Company
Year Ended December 31, 2013
with Report of Independent Registered Public Accounting Firm
This page intentionally left blank.
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Financial Statements
Year Ended December 31, 2013
Contents
Report of Independent Registered Public Accounting Firm
1
Audited Financial Statements
Statements of Assets and Liabilities
Statements of Operations
Statements of Changes in Net Assets
Notes to Financial Statements
2
63
126
205
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Report of Independent Registered Public Accounting Firm
The Board of Directors and Participants
ING Life Insurance and Annuity Company
We have audited the accompanying financial statements of Variable Annuity Account C of ING Life
Insurance and Annuity Company (the “Account”), which comprise the statements of assets and liabilities
of each of the investment divisions disclosed in Note 1 as of December 31, 2013, and the related
statements of operations for the year or period then ended, and the statements of changes in net assets for
the years or periods ended December 31, 2013 and 2012. These financial statements are the responsibility
of the Account’s management. Our responsibility is to express an opinion on these financial statements
based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight
Board (United States). Those standards require that we plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free of material misstatement. We were not engaged
to perform an audit of the Account’s internal control over financial reporting. Our audits included
consideration of internal control over financial reporting as a basis for designing audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of
the Account’s internal control over financial reporting. Accordingly, we express no such opinion. An audit
also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial
statements, assessing the accounting principles used and significant estimates made by management, and
evaluating the overall financial statement presentation. Our procedures included confirmation of securities
owned as of December 31, 2013, by correspondence with the transfer agents or fund companies. We
believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the
financial position of each of the investment divisions disclosed in Note 1 constituting Variable Annuity
Account C of ING Life Insurance and Annuity Company at December 31, 2013, the results of their
operations for the year or period then ended, and the changes in their net assets for the years or periods
ended December 31, 2013 and 2012, in conformity with U.S. generally accepted accounting principles.
/s/ Ernst & Young LLP
Atlanta, Georgia
April 9, 2014
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Invesco Mid
Cap Core
Equity Fund Class A
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
4,574
4,574
4,574
4,574
4,574
$
38
38
38
$
$
38
38
$
181,490
$
4,155
Invesco
International
Growth Fund Class R5
Invesco Small Cap
Growth Fund Class A
$
$
$
$
968
$
31
217
217
217
217
217
Invesco
Endeavor
Fund - Class A
Invesco Global
Health Care
Fund - Investor
Class
$
$
$
$
$
6,313
$
199
63
63
$
$
$
2,981
$
The accompanying notes are an integral part of these financial statements.
2
63
63
63
58
356
356
356
356
356
8,945
$
294
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
Invesco Small
Cap Value
Fund - Class A
Invesco V.I.
American
Franchise
Fund - Series I
Shares
Invesco V.I.
Core Equity
Fund - Series I
Shares
Alger Capital
Appreciation
Fund - Class A
Alger Green
Fund - Class A
$
$
$
$
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
318
318
318
318
318
26,065
26,065
26,065
$
$
25,802
263
26,065
$
14,699
$
268
$
$
$
514,822
$
19,426
40,151
40,151
40,151
39,648
503
40,151
$
$
$
1,044,770
$
26,840
723
723
723
723
723
$
$
34,466
$
586
The accompanying notes are an integral part of these financial statements.
3
$
4,212
4,212
4,212
4,212
4,212
472,700
$
3,493
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
AllianceBernstein AllianceBernstein
Growth and
Growth and
AllianzGI NFJ
Income Fund,
Income Portfolio - Dividend Value
Fund - Class A
Inc. - Class A
Class A
AllianzGI NFJ
Large-Cap
Value Fund Institutional
Class
AllianzGI NFJ
Small-Cap
Value Fund Class A
$
$
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
183
183
183
183
183
$
674
674
674
$
$
674
674
$
34,231
$
122
$
$
$
$
24,245
$
466
246
246
246
246
246
$
$
$
15,501
$
171
25
25
25
25
25
$
$
1,239
$
19
The accompanying notes are an integral part of these financial statements.
4
$
584
584
584
584
584
17,621
$
509
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
Amana Growth
Fund
Amana Income
Fund
$
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
39,761
39,761
39,761
39,761
39,761
$
$
31,624
72,426
72,426
$
1,242,546
$
72,426
72,426
72,426
American
Balanced
Fund® - Class
R-3
$
$
$
$
1,654,698
$
53,930
7,353
7,353
7,353
7,353
7,353
American
Century
InflationAdjusted Bond
Fund - Investor
Class
American
Century Income
& Growth
Fund - A Class
$
$
$
$
$
302,332
$
5,139
32,860
32,860
32,860
32,860
32,860
$
$
2,849,963
$
37,120
The accompanying notes are an integral part of these financial statements.
5
$
9,649
9,649
9,649
9,649
9,649
266,474
$
6,957
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Fundamental
Investors Class R-3
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
1,936
1,936
1,936
1,936
1,936
Fundamental
Investors Class R-4
$
51,196
51,196
51,196
$
$
51,196
51,196
$
37,327
$
1,465
American Funds
American
Mutual Fund® Class R-4
Ariel
Appreciation
Fund - Investor
Class
$
$
$
$
$
986,816
$
35,003
888
888
888
888
888
$
$
$
25,581
$
836
740
740
740
740
740
$
$
$
$
13,283
$
569
The accompanying notes are an integral part of these financial statements.
6
Ariel Fund Investor Class
10,567
10,567
10,567
10,567
10,567
143,422
$
8,629
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
Artisan
International
Fund - Investor
Shares
BlackRock Mid
Cap Value
BlackRock
Aston/Fairpointe Equity Dividend Opportunities
Mid Cap Fund - Fund - Investor Fund - Investor
A Shares
A Shares
Class N
$
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
10,284
10,284
10,284
10,284
10,284
33,435
33,435
33,435
$
$
33,435
33,435
$
337,390
$
8,543
$
$
$
$
760,399
$
30,042
1,434
1,434
1,434
1,434
1,434
$
$
$
$
59,064
$
1,147
16,116
16,116
16,116
16,116
16,116
$
$
$
$
693,154
$
13,499
The accompanying notes are an integral part of these financial statements.
7
Bond Fund of
America Class R-4
9,244
9,244
9,244
9,244
9,244
745,522
$
9,350
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
Calvert VP SRI
Balanced
Portfolio
Capital World
Growth &
Income FundSM,
Inc. - Class R-3
Cohen & Steers
Realty Shares
ColumbiaSM
Acorn Fund® Class A
ColumbiaSM
Acorn Fund® Class Z
$
$
$
$
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
52,700
52,700
52,700
52,468
232
52,700
685
685
685
$
$
685
685
$
25,858,470
$
47,580
$
$
$
15,191
$
537
2,434
2,434
2,434
2,434
2,434
$
$
$
38,746
$
2,629
103
103
103
103
103
$
$
2,876
$
85
The accompanying notes are an integral part of these financial statements.
8
$
54
54
54
54
54
1,449
$
45
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
Columbia Mid
Cap Value
Fund - Class A
Columbia Mid
Cap Value
Fund - Class Z
CRM Mid Cap
Value Fund Investor Shares
Delaware
Diversified
Income Fund Class A
Delaware Small
Cap Value
Fund - Class A
$
$
$
$
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
5,980
5,980
5,980
5,980
5,980
2
2
2
$
$
2
2
$
334,253
$
4,904
$
$
$
92
$
1
313
313
313
313
313
$
$
$
9,189
$
252
1,887
1,887
1,887
1,887
1,887
$
$
211,997
$
1,929
The accompanying notes are an integral part of these financial statements.
9
$
109
109
109
109
109
2,080
$
103
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Dodge & Cox
International
Stock Fund
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
380
380
380
380
380
Dodge & Cox
Stock Fund
$
$
$
$
8,838
$
298
128
128
128
$
128
128
$
$
$
756
$
112
Eaton Vance
Large-Cap
Value Fund Class R
DWS Equity 500
Index Fund Class S
676
676
676
$
676
676
$
$
$
3,266
$
462
131
131
131
$
131
131
$
$
$
5,485
$
109
The accompanying notes are an integral part of these financial statements.
10
EuroPacific
Growth Fund® Class R-3
8,662
8,662
8,662
8,662
8,662
179,972
$
6,712
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
EuroPacific
Growth Fund® Class R-4
Fidelity®
Advisor New
Insights Fund Institutional
Class
Fidelity® VIP
Fidelity® VIP
Fidelity® VIP
Equity-Income
Growth
High Income
Portfolio - Initial Portfolio - Initial Portfolio - Initial
Class
Class
Class
$
$
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
314,660
314,660
314,660
314,660
314,660
729
729
729
$
$
729
729
$
6,530,923
$
265,728
$
$
$
27,240
$
639
306,607
306,607
306,607
$
302,491
4,116
306,607
$
$
$
13,164,769
$
289,123
275,001
275,001
275,001
$
274,149
852
275,001
$
$
4,812,764
$
150,039
The accompanying notes are an integral part of these financial statements.
11
$
11,354
11,354
11,354
11,299
55
11,354
1,957,590
$
11,330
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Fidelity® VIP
Fidelity® VIP
Fidelity® VIP
Fidelity® VIP
Fidelity® VIP
Overseas
Contrafund®
Index 500
Mid Cap
Asset Manager
Portfolio - Initial Portfolio - Initial Portfolio - Initial Portfolio - Initial Portfolio - Initial
Class
Class
Class
Class
Class
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
36,312
36,312
36,312
36,312
36,312
$
$
$
$
1,759,321
$
30,196
1,320,713
1,320,713
1,320,713
1,311,326
9,387
1,320,713
$
$
$
$
38,448,716
$
1,033,516
153,676
153,676
153,676
153,676
153,676
$
$
$
$
824,928
$
107,864
27,855
27,855
27,855
27,855
27,855
$
$
$
765,451
$
22,176
The accompanying notes are an integral part of these financial statements.
12
$
23,250
23,250
23,250
23,250
23,250
1,348,620
$
19,436
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
Mutual Global
Discovery
Fund - Class R
Franklin SmallMid Cap
Growth
Fund - Class A
Franklin Small
Cap Value
Securities
Fund - Class 2
Growth Fund of Growth Fund of
America America Class R-4
Class R-3
$
$
$
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
2,610
2,610
2,610
2,610
2,610
759
759
759
$
$
759
759
$
79,371
$
2,267
$
$
$
18,501
$
644
144,001
144,001
144,001
142,337
1,664
144,001
$
$
$
5,982,577
$
87,631
15,914
15,914
15,914
15,914
15,914
$
$
$
375,429
$
10,635
The accompanying notes are an integral part of these financial statements.
13
$
363,914
363,914
363,914
363,914
363,914
8,518,594
$
256,066
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
The Hartford
Capital
Appreciation
Fund - Class R4
The Hartford
Dividend And
Growth Fund Class R4
Income Fund of
America Class R-3
$
$
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
-
-
4
4
4
$
$
4
4
$
1
$
-
$
$
$
147
$
4
2,392
2,392
2,392
2,392
2,392
ING Balanced
Portfolio Class I
$
$
$
$
116,219
$
1,958
317,105
317,105
317,105
$
298,596
18,509
317,105
$
$
$
22,634,200
$
272,334
The accompanying notes are an integral part of these financial statements.
14
ING Growth
Opportunities
Fund - Class A
107
107
107
107
107
3,394
$
91
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
ING Large Cap
Value Fund Class A
ING MidCap
Opportunities
Fund - Class A
ING Real Estate
Fund - Class A
ING GNMA
Income Fund Class A
$
$
$
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
6
6
6
6
6
1
1
1
$
$
1
1
$
481
$
6
$
$
$
52
$
1
1,908
1,908
1,908
1,908
1,908
$
$
$
118,228
$
1,629
3,821
3,821
3,821
3,821
3,821
$
$
$
$
446,407
$
4,011
The accompanying notes are an integral part of these financial statements.
15
ING
Intermediate
Bond Fund Class A
2,006
2,006
2,006
2,006
2,006
205,539
$
2,040
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
ING
ING
Intermediate
Intermediate
Bond Portfolio - Bond Portfolio Class I
Class S
ING BlackRock
Health Sciences
Opportunities
Portfolio Service Class
ING BlackRock
Inflation
Protected Bond
Portfolio Adviser Class
ING BlackRock
Large Cap
Growth
Portfolio Institutional
Class
$
$
$
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
348,194
348,194
348,194
334,980
13,214
348,194
$
993
993
993
$
$
993
993
$
27,855,544
$
348,475
$
$
$
79,865
$
1,015
33,208
33,208
33,208
33,208
33,208
$
$
$
1,861,429
$
25,472
65
65
65
65
65
$
$
7,133
$
76
The accompanying notes are an integral part of these financial statements.
16
$
101,984
101,984
101,984
101,461
523
101,984
7,072,381
$
77,015
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
ING BlackRock
Large Cap
Growth
Portfolio Service Class
ING BlackRock
Large Cap
Growth
Portfolio Service 2 Class
$
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
288
288
288
288
288
329
329
329
$
$
329
329
$
20,079
$
210
$
$
$
$
23,253
$
215
ING Clarion
Global Real
Estate
Portfolio Institutional
Class
ING Clarion
Global Real
Estate
Portfolio Adviser Class
6
6
6
6
6
$
$
$
$
574
$
6
82,599
82,599
82,599
82,599
82,599
$
$
$
$
7,536,385
$
73,113
The accompanying notes are an integral part of these financial statements.
17
ING Clarion
Real Estate
Portfolio Adviser Class
38
38
38
38
38
1,442
$
35
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
ING Clarion
Real Estate
Portfolio Institutional
Class
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
1,928
1,928
1,928
1,928
1,928
ING Clarion
Real Estate
Portfolio Service Class
$
$
$
1,696
50,213
50,213
$
70,300
$
50,213
50,213
50,213
ING FMRSM
Diversified Mid
Cap Portfolio Institutional
Class
ING FMRSM
Diversified Mid
Cap Portfolio Service Class
ING FMRSM
Diversified Mid
Cap Portfolio Service 2 Class
$
$
$
$
$
$
1,835,930
$
39,364
36,469
36,469
36,469
36,469
36,469
$
$
$
1,746,623
$
26,981
59,652
59,652
59,652
59,652
59,652
$
$
2,874,780
$
39,650
The accompanying notes are an integral part of these financial statements.
18
$
38
38
38
38
38
1,858
$
30
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
ING Global
Resources
Portfolio Institutional
Class
ING Global
Resources
Portfolio Adviser Class
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
1
1
1
1
1
$
28
28
28
$
$
28
28
$
32
$
1
ING Global
Resources
Portfolio Service Class
$
$
$
$
1,327
$
31
ING Invesco
Growth and
Income
Portfolio Institutional
Class
97,667
97,667
97,667
97,667
97,667
$
$
$
$
4,637,536
$
86,923
12,257
12,257
12,257
12,257
12,257
$
$
$
$
394,380
$
9,727
The accompanying notes are an integral part of these financial statements.
19
ING Invesco
Growth and
Income
Portfolio Service Class
25,945
25,945
25,945
25,945
25,945
831,847
$
18,845
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
ING JPMorgan
Emerging
Markets Equity
Portfolio Adviser Class
ING JPMorgan
Emerging
Markets Equity
Portfolio Institutional
Class
ING JPMorgan
Emerging
Markets Equity
Portfolio Service Class
ING JPMorgan
Small Cap Core
Equity
Portfolio Adviser Class
ING JPMorgan
Small Cap Core
Equity
Portfolio Institutional
Class
$
$
$
$
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
265
265
265
265
265
$
$
280
24,242
24,242
$
14,395
$
24,242
24,242
24,242
$
$
$
1,269,227
$
25,005
20,444
20,444
20,444
20,444
20,444
$
$
$
1,075,983
$
21,134
22
22
22
22
22
$
$
1,080
$
13
The accompanying notes are an integral part of these financial statements.
20
$
19,469
19,469
19,469
19,469
19,469
935,554
$
15,373
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
ING JPMorgan
Small Cap Core
Equity
Portfolio Service Class
ING Large Cap
Growth
Portfolio Adviser Class
ING Large Cap
Growth
Portfolio Institutional
Class
ING Large Cap
Growth
ING Large Cap
Portfolio Value Portfolio Adviser Class
Service Class
$
17,992
17,992
17,992
$
187
187
187
$
254,592
254,592
254,592
$
17,992
17,992
$
187
187
$
254,303
289
254,592
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
$
$
872,530
$
13,970
$
$
10,282
$
136
$
$
13,329,428
$
185,287
1,972
1,972
1,972
$
1,972
1,972
$
$
104,760
$
1,757
The accompanying notes are an integral part of these financial statements.
21
$
29
29
29
29
29
2,497
$
26
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
ING Large Cap
Value Portfolio - ING Large Cap
Value Portfolio Institutional
Service Class
Class
ING Limited
Maturity Bond
Portfolio Adviser Class
$
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
342,341
342,341
342,341
338,035
4,306
342,341
$
1,259
1,259
1,259
$
$
1,259
1,259
$
29,011,955
$
253,380
$
$
$
107,636
$
1,022
18
18
18
18
18
ING Marsico
Growth
Portfolio Institutional
Class
$
$
$
$
1,818
$
18
13,006
13,006
13,006
13,006
13,006
$
$
$
$
508,044
$
9,146
The accompanying notes are an integral part of these financial statements.
22
ING Marsico
Growth
Portfolio Service Class
99
99
99
99
99
3,903
$
69
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
ING MFS Total
Return
Portfolio Adviser Class
ING MFS Total
Return
Portfolio Institutional
Class
ING MFS Total
Return
Portfolio Service Class
$
$
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
1,034
1,034
1,034
1,034
1,034
$
$
754
63,035
63,035
$
55,812
$
63,035
63,035
63,035
$
$
$
3,365,450
$
53,379
28,789
28,789
28,789
28,789
28,789
ING MFS
Utilities
Portfolio Service Class
$
$
$
$
1,537,047
$
23,176
52,403
52,403
52,403
52,403
52,403
$
$
$
$
2,965,624
$
40,139
The accompanying notes are an integral part of these financial statements.
23
ING Morgan
Stanley Global
Franchise
Portfolio Adviser Class
37
37
37
37
37
2,131
$
33
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
ING MultiManager Large
Cap Core
Portfolio Institutional
Class
ING MultiManager Large
Cap Core
Portfolio Service Class
$
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
24,438
24,438
24,438
24,176
262
24,438
338
338
338
$
$
338
338
$
1,652,354
$
17,148
$
$
$
$
22,837
$
256
ING PIMCO
High Yield
Portfolio Institutional
Class
ING PIMCO
High Yield
Portfolio Adviser Class
46
46
46
46
46
$
$
$
$
4,340
$
45
31,115
31,115
31,115
31,115
31,115
$
$
$
$
2,932,588
$
30,779
The accompanying notes are an integral part of these financial statements.
24
ING PIMCO
High Yield
Portfolio Service Class
27,339
27,339
27,339
27,339
27,339
2,579,151
$
26,758
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
ING T. Rowe
Price Capital
Appreciation
Portfolio Institutional
Class
ING T. Rowe
Price Capital
Appreciation
Portfolio Adviser Class
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
346
346
346
346
346
$
$
$
308
159,719
159,719
$
12,496
$
159,719
159,719
159,719
ING T. Rowe
Price Capital
Appreciation
Portfolio Service Class
$
$
$
$
5,635,812
$
142,147
489,494
489,494
489,494
489,494
489,494
ING T. Rowe
Price Equity
Income
Portfolio Adviser Class
$
$
$
$
17,260,004
$
380,438
1,793
1,793
1,793
1,793
1,793
$
$
$
$
108,035
$
1,161
The accompanying notes are an integral part of these financial statements.
25
ING T. Rowe
Price Equity
Income
Portfolio Service Class
122,461
122,461
122,461
122,050
411
122,461
7,293,668
$
77,453
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
ING T. Rowe
ING T. Rowe
Price
Price
International
International
Stock Portfolio - Stock Portfolio Adviser Class
Service Class
ING Templeton
Global Growth
Portfolio Institutional
Class
ING Templeton ING U.S. Stock
Global Growth Index Portfolio Portfolio Institutional
Service Class
Class
$
$
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
120
120
120
120
120
$
7,898
7,898
7,898
$
$
7,898
7,898
$
9,023
$
99
$
$
$
596,997
$
6,064
813
813
813
813
813
$
$
$
50,742
$
584
6,959
6,959
6,959
6,959
6,959
$
$
$
432,777
$
5,344
The accompanying notes are an integral part of these financial statements.
26
$
14,396
14,396
14,396
14,396
14,396
988,065
$
11,069
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
ING Money
Market
Portfolio Class I
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
281,491
281,491
281,491
279,277
2,214
281,491
ING Global Real
Estate Fund Class A
ING
International
Small Cap
Fund - Class A
ING American
ING American
Century Small- Century SmallMid Cap Value Mid Cap Value
Portfolio Portfolio - Initial
Adviser Class
Class
$
$
$
135
135
135
$
$
135
135
$
281,491,335
$
281,491
$
$
$
7,365
$
124
500
500
500
500
500
$
$
$
10,266
$
394
140
140
140
140
140
$
$
$
9,483
$
107
The accompanying notes are an integral part of these financial statements.
27
$
19,547
19,547
19,547
19,547
19,547
1,277,584
$
15,997
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
ING American
Century SmallMid Cap Value
Portfolio Service Class
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
57,450
57,450
57,450
56,598
852
57,450
ING Baron
Growth
Portfolio Adviser Class
$
571
571
571
$
$
571
571
$
3,789,606
$
41,454
ING Baron
Growth
Portfolio Service Class
$
$
$
$
19,254
$
372
186,035
186,035
186,035
184,151
1,884
186,035
ING Columbia
ING Columbia
Contrarian Core Small Cap Value
II Portfolio Portfolio Adviser Class
Service Class
$
$
$
$
6,079,572
$
112,823
14,676
14,676
14,676
14,571
105
14,676
$
$
$
588,694
$
9,516
The accompanying notes are an integral part of these financial statements.
28
$
270
270
270
270
270
17,278
$
194
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
ING Columbia
Small Cap Value
II Portfolio Service Class
ING Fidelity®
VIP Mid Cap
Portfolio Service Class
ING Global
ING Global
ING Global
Bond Portfolio - Bond Portfolio - Bond Portfolio Adviser Class
Initial Class
Service Class
$
$
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
5,258
5,258
5,258
5,258
5,258
4,661
4,661
4,661
$
$
4,661
4,661
$
330,302
$
3,874
$
$
$
256,802
$
3,235
323
323
323
323
323
$
$
$
$
31,189
$
355
113,498
113,498
113,498
111,042
2,456
113,498
$
$
$
10,850,625
$
119,788
The accompanying notes are an integral part of these financial statements.
29
$
955
955
955
944
11
955
91,150
$
1,030
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
ING Index
Solution 2015
Portfolio - Initial
Class
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
631
631
631
631
631
ING Index
Solution 2015
Portfolio Service Class
$
586
586
586
$
$
586
586
$
57,177
$
610
ING Index
Solution 2015
Portfolio Service 2 Class
ING Index
Solution 2025
Portfolio - Initial
Class
$
$
$
$
$
53,514
$
551
1,185
1,185
1,185
1,185
1,185
$
$
$
109,917
$
1,119
1,238
1,238
1,238
1,238
1,238
$
$
$
$
104,546
$
1,131
The accompanying notes are an integral part of these financial statements.
30
ING Index
Solution 2025
Portfolio Service Class
1,101
1,101
1,101
1,101
1,101
93,763
$
1,046
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
ING Index
Solution 2025
Portfolio Service 2 Class
ING Index
Solution 2035
Portfolio - Initial
Class
$
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
3,767
3,767
3,767
3,767
3,767
1,305
1,305
1,305
$
$
1,305
1,305
$
325,325
$
3,305
ING Index
Solution 2035
Portfolio Service Class
$
$
$
$
106,641
$
1,176
504
504
504
504
504
ING Index
Solution 2035
Portfolio Service 2 Class
ING Index
Solution 2045
Portfolio - Initial
Class
$
$
$
$
$
41,527
$
455
2,576
2,576
2,576
2,576
2,576
$
$
215,026
$
2,157
The accompanying notes are an integral part of these financial statements.
31
$
380
380
380
380
380
30,361
$
345
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
ING Index
Solution 2045
Portfolio Service Class
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
365
365
365
365
365
ING Index
Solution 2045
Portfolio Service 2 Class
ING Index
Solution 2055
Portfolio - Initial
Class
$
$
1,821
1,821
1,821
$
$
1,821
1,821
$
29,425
$
337
$
$
$
148,807
$
1,499
153
153
153
153
153
ING Index
Solution 2055
Portfolio Service Class
$
$
$
$
10,378
$
138
246
246
246
246
246
$
$
$
$
16,787
$
223
The accompanying notes are an integral part of these financial statements.
32
ING Index
Solution 2055
Portfolio Service 2 Class
217
217
217
217
217
14,906
$
186
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
ING Index
ING Index
ING Index
Solution Income Solution Income Solution Income
Portfolio Portfolio Portfolio - Initial
Service 2 Class
Service Class
Class
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
10
10
10
10
10
$
833
833
833
$
$
833
833
$
891
$
10
$
$
$
$
76,783
$
819
259
259
259
259
259
ING Invesco
Comstock
Portfolio Adviser Class
$
$
$
$
24,271
$
254
444
444
444
444
444
$
$
$
$
28,956
$
282
The accompanying notes are an integral part of these financial statements.
33
ING Invesco
Comstock
Portfolio Service Class
69,828
69,828
69,828
68,427
1,401
69,828
4,525,456
$
50,293
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
ING Invesco
Equity and
Income
Portfolio Adviser Class
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
811
811
811
811
811
ING Invesco
Equity and
Income
Portfolio - Initial
Class
$
$
$
602
256,040
4,270
260,310
$
18,292
$
260,310
260,310
260,310
ING Invesco
Equity and
Income
Portfolio Service Class
$
$
$
$
5,794,977
$
198,218
300
300
300
300
300
ING JPMorgan ING JPMorgan
Mid Cap Value Mid Cap Value
Portfolio Portfolio - Initial
Class
Adviser Class
$
$
$
$
6,711
$
231
364
364
364
364
364
$
$
$
17,343
$
231
The accompanying notes are an integral part of these financial statements.
34
$
4,945
4,945
4,945
4,945
4,945
232,471
$
4,395
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
ING JPMorgan
Mid Cap Value
Portfolio Service Class
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
60,174
60,174
60,174
58,604
1,570
60,174
ING
Oppenheimer
Global
Portfolio Adviser Class
$
609
609
609
$
$
609
609
$
2,846,434
$
43,004
ING
Oppenheimer
Global
Portfolio - Initial
Class
$
$
$
$
33,311
$
418
621,059
621,059
621,059
616,402
4,657
621,059
ING
Oppenheimer
Global
Portfolio Service Class
$
$
$
$
32,877,656
$
430,561
1,061
1,061
1,061
1,061
1,061
$
$
$
$
57,873
$
725
The accompanying notes are an integral part of these financial statements.
35
ING PIMCO
Total Return
Portfolio Adviser Class
1,995
1,995
1,995
1,995
1,995
176,703
$
2,082
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
ING PIMCO
Total Return
Portfolio - Initial
Class
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
1,138
1,138
1,138
1,138
1,138
ING PIMCO
Total Return
Portfolio Service Class
$
$
$
1,163
195,845
5,382
201,227
$
98,138
$
201,227
201,227
201,227
ING Pioneer
High Yield
Portfolio - Initial
Class
$
$
$
$
17,528,464
$
207,588
35,918
35,918
35,918
33,897
2,021
35,918
ING Pioneer
High Yield
Portfolio Service Class
$
$
$
$
2,894,296
$
33,565
698
698
698
698
698
$
$
$
$
56,322
$
633
The accompanying notes are an integral part of these financial statements.
36
ING Solution
2015 Portfolio Adviser Class
919
919
919
919
919
77,648
$
819
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
ING Solution
2015 Portfolio Initial Class
ING Solution
2015 Portfolio Service Class
ING Solution
2015 Portfolio Service 2 Class
ING Solution
2025 Portfolio Adviser Class
ING Solution
2025 Portfolio Initial Class
$
$
$
$
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
1,766
1,766
1,766
1,766
1,766
$
$
1,668
67,703
67,703
$
146,200
$
67,703
67,703
67,703
$
$
$
5,651,300
$
58,723
10,144
10,144
10,144
10,144
10,144
$
$
$
867,727
$
9,303
508
508
508
508
508
$
$
38,925
$
415
The accompanying notes are an integral part of these financial statements.
37
$
788
788
788
788
788
59,069
$
691
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
ING Solution
2025 Portfolio Service Class
ING Solution
2025 Portfolio Service 2 Class
ING Solution
2035 Portfolio Adviser Class
ING Solution
2035 Portfolio Initial Class
ING Solution
2035 Portfolio Service Class
$
$
$
$
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
131,426
131,426
131,426
131,426
131,426
$
$
104,452
15,044
15,044
$
9,941,423
$
15,044
15,044
15,044
$
$
$
1,163,481
$
12,569
215
215
215
215
215
$
$
$
15,384
$
166
1,783
1,783
1,783
1,783
1,783
$
$
125,104
$
1,479
The accompanying notes are an integral part of these financial statements.
38
$
123,072
123,072
123,072
123,072
123,072
8,709,993
$
92,730
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
ING Solution
2035 Portfolio Service 2 Class
ING Solution
2045 Portfolio Adviser Class
ING Solution
2045 Portfolio Initial Class
ING Solution
2045 Portfolio Service Class
ING Solution
2045 Portfolio Service 2 Class
$
$
$
$
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
13,788
13,788
13,788
13,788
13,788
108
108
108
$
$
108
108
$
1,001,343
$
10,975
$
$
$
7,391
$
85
1,313
1,313
1,313
1,313
1,313
$
$
$
88,504
$
1,079
90,698
90,698
90,698
90,698
90,698
$
$
6,169,905
$
65,384
The accompanying notes are an integral part of these financial statements.
39
$
8,217
8,217
8,217
8,217
8,217
568,666
$
6,533
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
ING Solution
2055 Portfolio Initial Class
ING Solution
2055 Portfolio Service Class
ING Solution
2055 Portfolio Service 2 Class
$
$
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
155
155
155
155
155
7,472
7,472
7,472
$
$
7,472
7,472
$
10,556
$
129
$
$
$
513,532
$
6,508
683
683
683
683
683
ING Solution
Balanced
Portfolio Service Class
$
$
$
$
47,126
$
614
3,502
3,502
3,502
3,502
3,502
$
$
$
$
318,111
$
3,118
The accompanying notes are an integral part of these financial statements.
40
ING Solution
Income
Portfolio Adviser Class
221
221
221
221
221
19,609
$
215
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
ING Solution
Income
Portfolio - Initial
Class
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
2,555
2,555
2,555
2,555
2,555
ING Solution
Income
Portfolio Service Class
$
$
$
2,455
15,119
15,119
$
222,009
$
15,119
15,119
15,119
ING Solution
Income
Portfolio Service 2 Class
$
$
$
$
1,325,025
$
14,425
ING Solution
Moderately
Conservative
Portfolio Service Class
1,395
1,395
1,395
1,395
1,395
$
$
$
$
125,096
$
1,342
4,900
4,900
4,900
4,900
4,900
$
$
$
$
445,413
$
4,572
The accompanying notes are an integral part of these financial statements.
41
ING T. Rowe
Price Diversified
Mid Cap
Growth
Portfolio Adviser Class
389
389
389
389
389
35,131
$
262
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
ING T. Rowe
ING T. Rowe
Price Diversified Price Diversified
Mid Cap
Mid Cap
Growth
Growth
Portfolio Portfolio - Initial
Service Class
Class
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
393,263
393,263
393,263
391,464
1,799
393,263
$
859
859
859
$
$
859
859
$
33,669,802
$
267,545
ING T. Rowe
Price Growth
Equity
Portfolio Adviser Class
$
$
$
$
75,058
$
650
1,561
1,561
1,561
1,561
1,561
ING T. Rowe
Price Growth
Equity
Portfolio - Initial
Class
$
$
$
$
18,107
$
825
326,039
326,039
326,039
323,792
2,247
326,039
$
$
$
$
3,658,840
$
187,061
The accompanying notes are an integral part of these financial statements.
42
ING T. Rowe
Price Growth
Equity
Portfolio Service Class
3,895
3,895
3,895
3,895
3,895
44,433
$
2,352
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
ING Templeton ING Templeton ING Templeton
Foreign Equity Foreign Equity Foreign Equity
ING Core
Portfolio Portfolio Equity Research
Portfolio - Initial
Fund - Class A
Class
Service Class
Adviser Class
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
539
539
539
539
539
$
$
$
457
112,474
2,398
114,872
$
41,275
$
114,872
114,872
114,872
$
$
$
$
8,695,855
$
97,243
362
362
362
362
362
$
$
$
$
27,579
$
281
162
162
162
162
162
$
$
$
$
9,346
$
116
The accompanying notes are an integral part of these financial statements.
43
ING Strategic
Allocation
Conservative
Portfolio Class I
37,570
37,570
37,570
36,478
1,092
37,570
3,087,090
$
31,158
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
ING Strategic
Allocation
Growth
Portfolio Class I
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
76,061
76,061
76,061
75,330
731
76,061
ING Strategic
Allocation
Moderate
Portfolio Class I
$
$
$
64,300
66,079
1,202
67,281
$
5,753,462
$
67,281
67,281
67,281
ING Growth
and Income
Portfolio Class A
$
$
$
$
5,335,531
$
56,402
1,598
1,598
1,598
1,598
1,598
ING Growth
and Income
Portfolio Class I
$
$
$
$
50,945
$
1,221
1,391,126
1,391,126
1,391,126
1,301,450
89,676
1,391,126
$
$
$
$
43,925,680
$
953,938
The accompanying notes are an integral part of these financial statements.
44
ING Growth
and Income
Portfolio Class S
212
212
212
212
212
6,746
$
176
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
ING Index Plus
LargeCap
Portfolio Class I
ING Index Plus
LargeCap
Portfolio Class S
ING Index Plus
MidCap
Portfolio Class I
ING Index Plus
MidCap
Portfolio Class S
ING Index Plus
SmallCap
Portfolio Class I
$
$
$
$
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
325,012
325,012
325,012
320,261
4,751
325,012
335
335
335
$
$
335
335
$
16,210,088
$
227,648
$
$
$
16,844
$
206
365,883
365,883
365,883
363,964
1,919
365,883
$
$
$
15,490,382
$
251,350
503
503
503
503
503
$
$
21,563
$
309
The accompanying notes are an integral part of these financial statements.
45
$
154,881
154,881
154,881
153,611
1,270
154,881
7,085,132
$
105,380
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
ING Index Plus
ING
ING
SmallCap
International
International
Portfolio Index Portfolio - Index Portfolio Class S
Class I
Class S
ING Russell™
Large Cap
Growth Index
Portfolio Class I
$
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
236
236
236
236
236
$
$
$
139
26,042
672
26,714
$
10,918
$
26,714
26,714
26,714
$
$
$
$
2,660,737
$
21,726
6
6
6
6
6
$
$
$
553
$
5
12,039
12,039
12,039
11,945
94
12,039
$
$
$
$
551,763
$
9,279
The accompanying notes are an integral part of these financial statements.
46
ING Russell™
Large Cap
Growth Index
Portfolio Class S
956
956
956
956
956
43,984
$
693
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
ING Russell™
ING Russell™
Large Cap
Large Cap
Index Portfolio - Index Portfolio Class I
Class S
ING Russell™
Large Cap
Value Index
Portfolio Class I
ING Russell™
Large Cap
Value Index
Portfolio Class S
$
$
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
37,350
37,350
37,350
37,350
37,350
$
221
221
221
$
$
221
221
$
2,604,581
$
27,542
$
$
$
15,513
$
183
365
365
365
365
365
$
$
$
19,890
$
317
6,058
6,058
6,058
6,058
6,058
$
$
$
$
331,387
$
4,748
The accompanying notes are an integral part of these financial statements.
47
ING Russell™
Mid Cap
Growth Index
Portfolio Class S
8,513
8,513
8,513
8,513
8,513
347,042
$
6,235
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
ING Russell™
Mid Cap Index
Portfolio Class I
ING Russell™
Small Cap Index
Portfolio Class I
$
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
44,130
44,130
44,130
44,130
44,130
$
$
34,983
23,761
23,761
$
2,756,373
$
23,761
23,761
23,761
ING Small
Company
Portfolio Class I
$
$
$
$
1,403,513
$
18,524
155,627
155,627
155,627
153,424
2,203
155,627
ING Small
Company
Portfolio Class S
$
$
$
$
6,318,591
$
112,143
299
299
299
299
299
$
$
$
$
12,330
$
209
The accompanying notes are an integral part of these financial statements.
48
ING U.S. Bond
Index Portfolio Class I
9,263
9,263
9,263
9,263
9,263
892,374
$
9,774
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
ING
ING
International
International
Value Portfolio - Value Portfolio Class I
Class S
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
62,868
62,868
62,868
60,679
2,189
62,868
$
224
224
224
$
$
224
224
$
6,514,857
$
56,499
ING MidCap
Opportunities
Portfolio Class I
$
$
$
$
22,733
$
171
113,492
113,492
113,492
113,492
113,492
ING MidCap
Opportunities
Portfolio Class S
$
$
$
$
6,845,104
$
90,322
1,401
1,401
1,401
1,401
1,401
$
$
$
$
86,789
$
1,065
The accompanying notes are an integral part of these financial statements.
49
ING SmallCap
Opportunities
Portfolio Class I
41,575
41,575
41,575
41,575
41,575
1,426,733
$
31,053
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
ING SmallCap
Opportunities
Portfolio Class S
Janus Aspen
Series Balanced
Portfolio Institutional
Shares
$
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
108
108
108
108
108
153
153
153
$
$
153
153
$
3,844
$
76
Janus Aspen
Series
Enterprise
Portfolio Institutional
Shares
$
$
$
$
5,052
$
133
326
326
326
326
326
$
$
$
$
5,529
$
197
38
38
38
38
38
$
$
$
$
3,245
$
40
The accompanying notes are an integral part of these financial statements.
50
Janus Aspen
Series Global
Research
Portfolio Institutional
Shares
Janus Aspen
Series Flexible
Bond Portfolio Institutional
Shares
161
161
161
161
161
4,128
$
113
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Janus Aspen
Series Janus
Portfolio Institutional
Shares
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
78
78
78
78
78
JPMorgan
Government
Bond Fund Select Class
$
242
242
242
$
$
242
242
$
2,268
$
53
Lazard
Emerging
Lazard U.S. Mid
Cap Equity
Markets Equity
Portfolio - Open Portfolio - Open LKCM Aquinas
Shares
Growth Fund
Shares
$
$
$
$
22,327
$
257
-
-
$
$
$
$
$
-
3,922
3,922
3,922
3,922
3,922
$
$
$
240,347
$
3,015
The accompanying notes are an integral part of these financial statements.
51
$
411
411
411
411
411
19,148
$
289
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
Loomis Sayles
Small Cap Value
Fund - Retail
Class
Lord Abbett
Developing
Growth Fund Class A
Lord Abbett
Core Fixed
Income Fund Class A
Lord Abbett
Mid Cap Stock
Fund - Class A
Lord Abbett
SmallCap Value
Fund - Class A
$
$
$
$
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
15,591
15,591
15,591
15,591
15,591
259
259
259
$
$
259
259
$
420,462
$
11,899
$
$
$
10,051
$
229
46
46
46
46
46
$
$
$
4,298
$
47
997
997
997
997
997
$
$
42,828
$
681
The accompanying notes are an integral part of these financial statements.
52
$
1,450
1,450
1,450
1,450
1,450
43,402
$
1,230
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Lord Abbett
Fundamental
Equity Fund Class A
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
264
264
264
264
264
Lord Abbett
Series Fund
MidCap Stock
Portfolio Class VC
$
$
$
243
103,834
850
104,684
$
17,228
$
104,684
104,684
104,684
MainStay Large
Cap Growth
Fund - Class R3
Massachusetts
Investors
Growth Stock
Fund - Class A
Metropolitan
West Total
Return Bond
Fund - Class M
Shares
$
$
$
$
$
$
4,467,941
$
76,940
637
637
637
637
637
$
$
$
64,567
$
503
660
660
660
660
660
$
$
28,909
$
538
The accompanying notes are an integral part of these financial statements.
53
$
3,490
3,490
3,490
3,490
3,490
330,834
$
3,508
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
Neuberger
Berman Socially
Neuberger
Responsive
Berman Genesis
Fund - Trust
Fund - Trust
New Perspective New Perspective
Class
Class
Fund - Class R-3 Fund - Class R-4
Oppenheimer
Capital
Appreciation
Fund - Class A
$
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
198
198
198
198
198
$
14,445
14,445
14,445
$
$
14,445
14,445
$
3,072
$
164
$
$
$
$
630,248
$
12,293
2,417
2,417
2,417
2,417
2,417
$
$
$
$
65,494
$
1,863
114,954
114,954
114,954
114,954
114,954
$
$
3,093,492
$
85,208
The accompanying notes are an integral part of these financial statements.
54
$
106
106
106
106
106
1,764
$
86
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
Oppenheimer
Developing
Markets Fund Class A
Oppenheimer
Developing
Markets Fund Class Y
Oppenheimer
Gold & Special
Minerals Fund Class A
$
$
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
280,181
280,181
280,181
280,181
280,181
$
$
177,799
39,124
39,124
$
7,369,310
$
39,124
39,124
39,124
$
$
$
1,041,631
$
33,902
Oppenheimer
International
Bond Fund Class A
15
15
15
$
15
15
$
$
$
932
$
22
141
141
141
$
141
141
$
$
$
23,169
$
149
The accompanying notes are an integral part of these financial statements.
55
Oppenheimer
Discovery Mid
Cap Growth
Fund/VA
46
46
46
46
46
614
$
32
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Oppenheimer
Global Strategic
Income
Oppenheimer
Fund/VA
Global Fund/VA
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
261
261
261
261
261
$
99
99
99
$
$
99
99
$
6,390
$
170
Oppenheimer
Main Street
Fund®/VA
$
$
$
$
18,343
$
97
77
77
77
77
77
Oppenheimer
Main Street
Small Cap
Fund®/VA
$
$
$
$
2,473
$
54
23,499
23,499
23,499
23,499
23,499
$
$
$
$
845,300
$
16,274
The accompanying notes are an integral part of these financial statements.
56
Parnassus
Equity Income
Fund - Investor
Shares
7,389
7,389
7,389
7,389
7,389
201,450
$
6,975
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
Pax World
Balanced Fund Individual
Investor Class
PIMCO Real
Return
Portfolio Administrative
Class
Pioneer Equity
Income Fund Class Y
$
$
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
49,414
49,414
49,414
49,414
49,414
$
$
45,649
148,758
148,758
$
2,019,382
$
148,758
148,758
148,758
$
$
$
11,806,204
$
165,547
4,551
4,551
4,551
4,551
4,551
Pioneer High
Yield Fund Class A
$
$
$
$
132,326
$
4,107
1,966
1,966
1,966
1,966
1,966
$
$
$
$
184,238
$
1,880
The accompanying notes are an integral part of these financial statements.
57
Pioneer
Strategic Income
Fund - Class A
1,357
1,357
1,357
1,357
1,357
125,561
$
1,407
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Pioneer
Emerging
Markets VCT
Portfolio Class I
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
12,937
12,937
12,937
12,937
12,937
Pioneer High
Yield VCT
Portfolio Class I
$
$
$
13,886
30,910
30,910
$
515,400
$
30,910
30,910
30,910
Columbia
Diversified
Equity Income
Fund - Class K
$
$
$
$
2,946,591
$
28,614
9,646
9,646
9,646
9,646
9,646
Royce Total
Return Fund K Class
$
$
$
$
704,610
$
7,343
2
2
2
2
2
$
$
$
$
149
$
2
The accompanying notes are an integral part of these financial statements.
58
SMALLCAP
World Fund® Class R-4
12,144
12,144
12,144
12,144
12,144
248,798
$
10,162
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
T. Rowe Price
Mid-Cap Value
Fund - R Class
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
928
928
928
928
928
T. Rowe Price
Value Fund Advisor Class
$
285
285
285
$
$
285
285
$
31,327
$
685
Templeton
Foreign Fund Class A
Templeton
Global Bond
Fund - Advisor
Class
Templeton
Global Bond
Fund - Class A
$
$
$
$
$
$
8,551
$
218
1,820
1,820
1,820
1,820
1,820
$
$
$
219,011
$
1,526
39,880
39,880
39,880
39,880
39,880
$
$
3,046,587
$
40,132
The accompanying notes are an integral part of these financial statements.
59
$
200,725
200,725
200,725
200,725
200,725
15,275,863
$
195,879
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Thornburg
International
Value Fund Class R4
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
46
46
46
46
46
USAA Precious
Metals and
Minerals Fund Adviser Shares
Diversified
Value Portfolio
Equity Income
Portfolio
Small Company
Growth
Portfolio
$
$
$
$
6,749
6,749
6,749
$
$
6,749
6,749
$
1,476
$
40
$
$
$
521,157
$
9,833
107
107
107
107
107
$
$
$
5,904
$
76
245
245
245
245
245
$
$
10,939
$
179
The accompanying notes are an integral part of these financial statements.
60
$
23
23
23
23
23
868
$
17
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Victory Small
Company
Opportunity
Fund - Class R
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
20
20
20
20
20
Wanger
International
$
$
$
17
46,354
46,354
$
518
$
46,354
46,354
46,354
Wanger Select
$
$
$
$
1,341,643
$
42,576
96,025
96,025
96,025
96,025
96,025
Wanger USA
$
$
$
$
2,637,319
$
62,732
73,254
73,254
73,254
73,254
73,254
$
$
$
$
1,781,045
$
55,339
The accompanying notes are an integral part of these financial statements.
61
Washington
Mutual
Investors Fund Class R-3
4,722
4,722
4,722
4,722
4,722
120,514
$
3,206
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Assets and Liabilities
December 31, 2013
(Dollars in thousands)
Assets
Investments in mutual funds
at fair value
Total assets
Net assets
Net assets
Accumulation units
Contracts in payout (annuitization)
Total net assets
Washington
Wells Fargo
Mutual
Advantage
Investors Fund - Small Cap Value
Class R-4
Fund - Class A
Wells Fargo
Advantage
Special Small
Cap Value
Fund - Class A
$
$
$
$
$
Total number of mutual fund shares
Cost of mutual fund shares
118,569
118,569
118,569
118,569
118,569
$
115
115
115
$
$
115
115
$
3,018,565
$
89,104
$
$
$
3,504
$
111
118,565
118,565
118,565
118,565
118,565
3,778,360
$
82,248
The accompanying notes are an integral part of these financial statements.
62
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Invesco Mid
Cap Core
Equity Fund Class A
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
$
$
-
Invesco Small
Cap Growth
Fund - Class A
Invesco
International
Growth Fund Class R5
Invesco
Endeavor
Fund - Class A
Invesco Global
Health Care
Fund - Investor
Class
$
$
$
$
-
3
-
1
45
-
1
-
2
45
(45)
-
1
2
-
2
(1)
311
387
1
2
1
-
3
3
13
28
698
3
1
6
41
553
7
18
6
59
1,251
10
19
12
100
1,206
$
10
$
21
$
The accompanying notes are an integral part of these financial statements.
63
12
$
99
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
Invesco Small
Cap Value
Fund - Class A
Invesco V.I.
American
Franchise
Fund - Series I
Shares
Invesco V.I.
Core Equity
Fund - Series I
Shares
Alger Capital
Appreciation
Fund - Class A
Alger Green
Fund - Class A
$
$
$
$
$
$
-
97
524
-
-
2
226
393
2
33
2
(2)
226
(129)
393
131
2
(2)
33
(33)
1
25
349
-
1,550
-
2
47
266
151
26
349
1,550
49
417
56
7,115
7,604
127
492
82
7,464
9,154
176
909
80
$
7,335
$
9,285
$
The accompanying notes are an integral part of these financial statements.
64
174
$
876
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
AllianceBernstein AllianceBernstein
AllianzGI NFJ
Growth and
Growth and
Income Fund,
Income Portfolio - Dividend Value
Fund - Class A
Class A
Inc. - Class A
AllianzGI NFJ
Large-Cap
Value Fund Institutional
Class
AllianzGI NFJ
Small-Cap
Value Fund Class A
$
$
$
$
1
$
6
$
5
1
6
2
6
2
-
5
2
(1)
6
-
2
3
1
5
1
38
-
66
-
9
-
4
-
8
58
38
66
9
4
66
14
87
44
5
63
52
153
53
9
129
51
$
153
$
56
$
The accompanying notes are an integral part of these financial statements.
65
10
$
130
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Amana Growth
Fund
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
$
$
229
American
Balanced
Fund® Class R-3
Amana Income
Fund
$
982
$
91
American
Century
InflationAdjusted Bond
Fund - Investor
Class
American
Century Income
& Growth
Fund - A Class
$
$
518
166
364
611
37
456
95
364
(135)
611
371
37
54
456
62
95
71
1,979
1,009
1,879
-
119
-
322
775
(51)
-
2,988
1,879
119
1,097
(51)
4,468
13,098
1,055
(5,842)
2,269
7,456
14,977
1,174
(4,745)
2,218
7,321
$
15,348
$
1,228
$
(4,683)
The accompanying notes are an integral part of these financial statements.
66
$
2,289
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Fundamental
Investors Class R-3
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
$
$
18
Fundamental
Investors Class R-4
$
604
American Funds
American
Mutual Fund® Class R-4
Ariel
Appreciation
Fund - Investor
Class
$
$
9
6
Ariel Fund Investor Class
$
57
8
386
2
7
83
8
10
386
218
2
7
7
(1)
83
(26)
76
32
2,406
881
5
17
160
45
726
-
108
3,287
22
205
726
312
8,071
51
105
1,692
420
11,358
73
310
2,418
430
$
11,576
$
80
$
The accompanying notes are an integral part of these financial statements.
67
309
$
2,392
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
Artisan
International
Fund - Investor
Shares
BlackRock Mid
Cap Value
BlackRock
Aston/Fairpointe Equity Dividend Opportunities
Mid Cap Fund - Fund - Investor Fund - Investor
A Shares
A Shares
Class N
$
$
$
87
-
$
22
$
73
Bond Fund of
America Class R-4
$
237
75
184
9
150
102
75
12
184
(184)
9
13
150
(77)
102
135
439
-
558
2,948
32
1
1,087
889
141
-
439
3,506
33
1,976
141
1,143
3,023
210
1,750
(591)
1,582
6,529
243
3,726
(450)
1,594
$
6,345
$
256
$
3,649
The accompanying notes are an integral part of these financial statements.
68
$
(315)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
Calvert VP SRI
Balanced
Portfolio
Capital World
Growth &
Income FundSM,
Inc. - Class R-3
$
$
$
526
13
Cohen & Steers
Realty Shares
ColumbiaSM
Acorn Fund® Class A
ColumbiaSM
Acorn Fund® Class Z
$
$
$
63
-
-
528
3
27
1
1
528
(2)
3
10
27
36
1
(1)
1
(1)
658
4,441
12
-
38
80
2
6
3
5,099
12
118
8
3
2,569
104
(144)
17
9
7,668
116
(26)
25
12
7,666
$
126
$
10
$
The accompanying notes are an integral part of these financial statements.
69
24
$
11
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
Columbia Mid
Cap Value
Fund - Class A
Columbia Mid
Cap Value
Fund - Class Z
CRM Mid Cap
Value Fund Investor Shares
Delaware
Diversified
Income Fund Class A
Delaware Small
Cap Value
Fund - Class A
$
$
$
$
$
$
20
-
1
55
-
47
-
2
14
-
47
(27)
-
2
(1)
14
41
-
678
587
-
6
45
(48)
-
2
1,265
-
51
(48)
2
222
-
25
(34)
6
1,487
-
76
(82)
8
1,460
$
-
$
75
$
The accompanying notes are an integral part of these financial statements.
70
(41)
$
8
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Dodge & Cox
International
Stock Fund
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
$
$
6
Dodge & Cox
Stock Fund
$
1
Eaton Vance
Large-Cap
Value Fund Class R
DWS Equity 500
Index Fund Class S
$
11
$
1
EuroPacific
Growth Fund® Class R-3
$
57
3
1
6
1
44
3
3
1
-
6
5
1
-
44
13
8
-
6
-
5
-
12
5
892
-
8
6
5
17
892
56
15
145
13
555
64
21
150
30
1,447
67
$
21
$
155
$
The accompanying notes are an integral part of these financial statements.
71
30
$
1,460
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
EuroPacific
Growth Fund® Class R-4
Fidelity®
Advisor New
Insights Fund Institutional
Class
Fidelity® VIP
Fidelity® VIP
Fidelity® VIP
Equity-Income
Growth
High Income
Portfolio - Initial Portfolio - Initial Portfolio - Initial
Class
Class
Class
$
$
$
$
2,961
-
7,181
$
706
$
653
2,502
7
2,913
2,396
133
2,502
459
7
(7)
2,913
4,268
2,396
(1,690)
133
520
(691)
-
27
86
(1,809)
19,036
10,605
168
315
-
(691)
113
17,227
10,773
315
51,226
55
47,229
65,870
(312)
50,535
168
64,456
76,643
50,994
$
161
$
68,724
$
74,953
The accompanying notes are an integral part of these financial statements.
72
3
$
523
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Fidelity® VIP
Fidelity® VIP
Fidelity® VIP
Fidelity® VIP
Fidelity® VIP
Overseas
Contrafund®
Index 500
Mid Cap
Asset Manager
Portfolio - Initial Portfolio - Initial Portfolio - Initial Portfolio - Initial Portfolio - Initial
Class
Class
Class
Class
Class
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
$
$
447
$
12,887
$
2,637
$
127
$
351
304
10,923
1,565
-
254
304
143
10,923
1,964
1,565
1,072
127
254
97
(2,088)
123
23,436
343
3,472
1,307
611
3,182
374
54
(1,965)
23,779
4,779
3,793
428
10,114
291,519
30,085
3,481
2,542
8,149
315,298
34,864
7,274
2,970
8,292
$
317,262
$
35,936
$
7,401
The accompanying notes are an integral part of these financial statements.
73
$
3,067
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
Mutual Global
Discovery
Fund - Class R
Franklin SmallMid Cap
Growth Fund Class A
Franklin Small
Cap Value
Securities
Fund - Class 2
Growth Fund of Growth Fund of
America America Class R-4
Class R-3
$
$
$
$
$
32
-
1,651
4
$
1,063
15
4
1,154
85
3,016
15
17
4
(4)
1,154
497
85
(81)
3,016
(1,953)
193
126
63
93
2,219
2,131
1,000
965
5,971
21,897
319
156
4,350
1,965
27,868
210
59
33,299
2,073
65,718
529
215
37,649
4,038
93,586
546
$
211
$
38,146
$
3,957
The accompanying notes are an integral part of these financial statements.
74
$
91,633
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
The Hartford
Capital
Appreciation
Fund - Class R4
The Hartford
Dividend And
Growth Fund Class R4
Income Fund of
America Class R-3
$
$
$
$
-
4
66
ING Balanced
Portfolio Class I
$
6,771
ING Growth
Opportunities
Fund - Class A
$
-
1
2
13
3,342
1
1
(1)
2
2
13
53
3,342
3,429
1
(1)
72
-
73
-
82
-
3,552
-
6
72
73
82
3,552
6
(9)
(2)
207
37,873
16
63
71
289
41,425
22
62
$
73
$
342
$
44,854
The accompanying notes are an integral part of these financial statements.
75
$
21
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
ING Large Cap
Value Fund Class A
ING MidCap
Opportunities
Fund - Class A
ING Real Estate
Fund - Class A
$
$
$
$
-
-
42
ING Value
Choice Fund Class A
$
-
ING GNMA
Income Fund Class A
$
140
-
-
8
-
32
-
-
8
34
-
32
108
-
-
164
-
-
(15)
-
-
-
164
-
(15)
-
-
(180)
1
(202)
-
-
(16)
1
(217)
-
$
-
$
18
$
The accompanying notes are an integral part of these financial statements.
76
1
$
(109)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
ING
Intermediate
Bond Fund Class A
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
$
$
76
ING
ING
Intermediate
Intermediate
Bond Portfolio - Bond Portfolio Class I
Class S
ING BlackRock
Health Sciences
Opportunities
Portfolio Service Class
ING BlackRock
Inflation
Protected Bond
Portfolio Adviser Class
$
$
$
11,972
$
32
14
-
16
3,423
4
222
-
16
60
3,423
8,549
4
28
222
(208)
-
83
-
(1,699)
-
33
-
1,213
1,857
(1)
4
83
(1,699)
33
3,070
3
(197)
(11,051)
(69)
5,179
(10)
(114)
(12,750)
(36)
8,249
(7)
(54)
$
(4,201)
$
(8)
$
8,041
The accompanying notes are an integral part of these financial statements.
77
$
(7)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
ING BlackRock
Large Cap
Growth
Portfolio Institutional
Class
ING BlackRock
Large Cap
Growth
Portfolio Service Class
ING BlackRock
Large Cap
Growth
Portfolio Service 2 Class
$
$
$
$
1,268
3
3
ING Clarion
Global Real
Estate
Portfolio Institutional
Class
ING Clarion
Global Real
Estate
Portfolio Adviser Class
$
-
$
4,858
967
1
1
-
736
967
301
1
2
1
2
-
736
4,122
(184)
-
26
-
23
-
-
877
-
(184)
26
23
-
877
25,760
62
62
-
(2,778)
25,576
88
85
-
(1,901)
25,877
$
90
$
87
$
The accompanying notes are an integral part of these financial statements.
78
-
$
2,221
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
ING Clarion
Real Estate
Portfolio Institutional
Class
ING Clarion
Real Estate
Portfolio Adviser Class
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
$
$
-
$
35
ING Clarion
Real Estate
Portfolio Service Class
$
749
ING FMRSM
Diversified Mid
Cap Portfolio Institutional
Class
ING FMRSM
Diversified Mid
Cap Portfolio Service Class
$
$
238
252
-
22
496
146
499
-
22
13
496
253
146
92
499
(247)
1
-
151
-
4,992
-
981
123
3,524
205
1
151
4,992
1,104
3,729
(1)
(120)
(4,567)
8,741
12,595
-
31
425
9,845
16,324
-
$
44
$
678
$
9,937
The accompanying notes are an integral part of these financial statements.
79
$
16,077
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
ING FMRSM
Diversified Mid
Cap Portfolio Service 2 Class
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
$
$
-
ING Global
Resources
Portfolio Institutional
Class
ING Global
Resources
Portfolio Adviser Class
$
-
$
-
ING Invesco
Growth and
Income
Portfolio Institutional
Class
ING Global
Resources
Portfolio Service Class
$
942
$
145
-
-
-
1,003
42
-
-
-
1,003
(61)
42
103
-
-
-
(7,064)
-
163
-
-
-
-
(7,064)
163
8
-
3
18,734
2,335
8
-
3
11,670
2,498
8
$
-
$
3
$
11,609
The accompanying notes are an integral part of these financial statements.
80
$
2,601
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
ING Invesco
Growth and
Income
Portfolio Service Class
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
$
$
299
ING JPMorgan
Emerging
Markets Equity
Portfolio Adviser Class
ING JPMorgan
Emerging
Markets Equity
Portfolio Institutional
Class
ING JPMorgan
Emerging
Markets Equity
Portfolio Service Class
ING JPMorgan
Small Cap Core
Equity
Portfolio Adviser Class
$
$
$
$
2
320
204
-
205
1
298
241
-
205
94
1
1
298
22
241
(37)
-
1,502
-
(6)
7
1,823
618
2,089
517
-
1,502
1
2,441
2,606
-
4,579
(18)
(4,555)
(4,249)
5
6,081
(17)
(2,114)
(1,643)
5
6,175
$
(16)
$
(2,092)
$
(1,680)
The accompanying notes are an integral part of these financial statements.
81
$
5
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
ING JPMorgan
Small Cap Core
Equity
Portfolio Institutional
Class
ING JPMorgan
Small Cap Core
Equity
Portfolio Service Class
ING Large Cap
Growth
Portfolio Adviser Class
ING Large Cap
Growth
Portfolio Institutional
Class
ING Large Cap
Growth
Portfolio Service Class
$
$
$
$
$
$
135
109
1
1,213
6
63
129
1
1,991
6
63
72
129
(20)
1
-
1,991
(778)
6
-
339
344
636
347
3
2
3,907
2,117
75
12
683
983
5
6,024
87
3,736
3,319
40
53,594
200
4,419
4,302
45
59,618
287
4,491
$
4,282
$
45
$
58,840
The accompanying notes are an integral part of these financial statements.
82
$
287
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
ING Large Cap
ING Large Cap Value Portfolio - ING Large Cap
Value Portfolio Institutional
Value Portfolio Service Class
Class
Adviser Class
ING Limited
Maturity Bond
Portfolio Adviser Class
$
$
$
-
$
6,039
$
17
-
ING Marsico
Growth
Portfolio Institutional
Class
$
121
-
2,520
5
-
116
-
2,520
3,519
5
12
-
116
5
-
4,284
-
61
-
-
1,264
-
-
4,284
61
-
1,264
3
61,994
169
-
2,117
3
66,278
230
-
3,381
3
$
69,797
$
242
$
The accompanying notes are an integral part of these financial statements.
83
-
$
3,386
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
ING Marsico
Growth
Portfolio Service Class
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
$
$
1
ING MFS Total
Return
Portfolio Adviser Class
ING MFS Total
Return
Portfolio Institutional
Class
ING MFS Total
Return
Portfolio Service Class
$
$
$
24
1,405
595
ING MFS
Utilities
Portfolio Service Class
$
1,026
1
4
640
276
482
1
-
4
20
640
765
276
319
482
544
6
-
83
-
(238)
-
(298)
-
(117)
-
6
83
(238)
(298)
(117)
21
88
9,177
4,398
8,167
27
171
8,939
4,100
8,050
27
$
191
$
9,704
$
4,419
The accompanying notes are an integral part of these financial statements.
84
$
8,594
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
ING Morgan
Stanley Global
Franchise
Portfolio Adviser Class
ING MultiManager Large
Cap Core
Portfolio Institutional
Class
ING MultiManager Large
Cap Core
Portfolio Service Class
$
$
$
$
1
214
2
ING PIMCO
High Yield
Portfolio Institutional
Class
ING PIMCO
High Yield
Portfolio Adviser Class
$
3
$
1,836
-
161
3
-
229
1
161
53
3
(1)
3
229
1,607
2
76
-
10
-
1
-
328
-
2
76
10
1
328
3
5,597
66
(1)
(478)
5
5,673
76
-
(150)
6
$
5,726
$
75
$
The accompanying notes are an integral part of these financial statements.
85
3
$
1,457
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
ING PIMCO
High Yield
Portfolio Service Class
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
$
$
1,727
ING Pioneer
Mid Cap Value
Portfolio Adviser Class
ING Pioneer
Mid Cap Value
Portfolio Institutional
Class
ING Pioneer
Mid Cap Value
Portfolio Service Class
$
$
$
-
752
3
ING T. Rowe
Price Capital
Appreciation
Portfolio Adviser Class
$
3
286
-
513
2
1
286
1,441
-
513
239
2
1
1
2
417
-
5
-
16,419
-
96
-
3
14
417
5
16,419
96
17
(563)
(1)
(3,035)
(30)
28
(146)
4
13,384
66
45
1,295
$
4
$
13,623
$
The accompanying notes are an integral part of these financial statements.
86
67
$
47
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
ING T. Rowe
Price Capital
Appreciation
Portfolio Institutional
Class
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
$
$
1,993
ING T. Rowe
Price Capital
Appreciation
Portfolio Service Class
$
5,037
ING T. Rowe
Price Equity
Income
Portfolio Adviser Class
$
23
ING T. Rowe
Price Equity
Income
Portfolio Service Class
$
1,831
ING T. Rowe
Price
International
Stock Portfolio Adviser Class
$
1
614
4,178
6
803
-
614
1,379
4,178
859
6
17
803
1,028
1
790
8,910
2,041
28,622
117
1
(113)
83
1
-
9,700
30,663
118
(30)
1
15,535
51,011
309
27,497
12
25,235
81,674
427
27,467
13
26,614
$
82,533
$
444
$
28,495
The accompanying notes are an integral part of these financial statements.
87
$
14
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
ING T. Rowe
Price
International
Stock Portfolio Service Class
ING Templeton
Global Growth
Portfolio Institutional
Class
ING Templeton ING U.S. Stock
Global Growth Index Portfolio Portfolio Institutional
Service Class
Class
$
$
$
$
82
13
97
$
251
ING Money
Market
Portfolio Class I
$
-
74
6
60
23
2,221
74
8
6
7
60
37
23
228
2,221
(2,221)
320
-
122
-
551
-
38
275
53
320
122
551
313
53
632
72
963
2,506
-
952
194
1,514
2,819
53
960
$
201
$
1,551
$
3,047
The accompanying notes are an integral part of these financial statements.
88
$
(2,168)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
ING Global Real
Estate Fund Class A
ING
International
Small Cap
Fund - Class A
ING American
ING American
ING American
Century Small- Century Small- Century SmallMid Cap Value Mid Cap Value Mid Cap Value
Portfolio Portfolio Portfolio - Initial
Adviser Class
Class
Service Class
$
$
$
$
3
7
1
$
208
$
571
1
2
-
71
379
1
2
2
5
1
71
137
379
192
2
-
24
-
6
4
306
510
2,734
1,638
2
24
10
816
4,372
(1)
84
25
3,056
8,849
1
108
35
3,872
13,221
3
$
113
$
36
$
4,009
The accompanying notes are an integral part of these financial statements.
89
$
13,413
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
ING Baron
Growth
Portfolio Adviser Class
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
$
$
6
ING Baron
Growth
Portfolio Service Class
$
2,054
ING Columbia
ING Columbia
ING Columbia
Contrarian Core Small Cap Value Small Cap Value
II Portfolio II Portfolio Portfolio Service Class
Adviser Class
Service Class
$
189
$
2
$
36
4
1,345
133
1
40
4
2
1,345
709
133
56
1
1
40
(4)
692
19
5,743
6,108
857
-
12
-
262
-
711
11,851
857
12
262
(382)
37,584
2,980
67
1,113
329
49,435
3,837
79
1,375
331
$
50,144
$
3,893
$
The accompanying notes are an integral part of these financial statements.
90
80
$
1,371
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
ING Fidelity®
VIP Mid Cap
Portfolio Service Class
ING Global
ING Global
ING Global
Bond Portfolio - Bond Portfolio - Bond Portfolio Adviser Class
Initial Class
Service Class
ING Growth
and Income
Core Portfolio Adviser Class
$
$
$
$
2
6
$
2,732
$
19
2
20
1
1,234
6
-
20
(18)
1
5
1,234
1,498
6
13
2
344
-
1
9
(986)
3,371
(28)
27
12
-
344
10
2,385
(1)
12
1,021
(32)
(11,188)
(65)
31
1,365
(22)
(8,803)
(66)
43
1,347
$
(17)
$
(7,305)
$
The accompanying notes are an integral part of these financial statements.
91
(53)
$
45
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
ING Growth
ING Index
and Income
Solution 2015
Core Portfolio - Portfolio - Initial
Initial Class
Class
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
$
$
634
$
12
ING Index
Solution 2015
Portfolio Service Class
$
10
ING Index
Solution 2015
Portfolio Service 2 Class
ING Index
Solution 2025
Portfolio - Initial
Class
$
$
23
14
167
5
3
9
10
167
467
5
7
3
7
9
14
10
4
11,568
-
3
13
45
12
8
28
3
22
11,568
16
57
36
25
(6,709)
17
(3)
39
92
4,859
33
54
75
117
5,326
$
40
$
61
$
The accompanying notes are an integral part of these financial statements.
92
89
$
121
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
ING Index
Solution 2025
Portfolio Service Class
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
$
$
10
ING Index
Solution 2025
Portfolio Service 2 Class
ING Index
Solution 2035
Portfolio - Initial
Class
$
$
50
10
ING Index
Solution 2035
Portfolio Service Class
$
4
ING Index
Solution 2035
Portfolio Service 2 Class
$
27
4
23
8
1
15
4
6
23
27
8
2
1
3
15
12
19
13
92
4
19
8
26
59
19
105
23
8
85
54
345
115
46
315
73
450
138
54
400
79
$
477
$
140
$
The accompanying notes are an integral part of these financial statements.
93
57
$
412
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
ING Index
Solution 2045
Portfolio - Initial
Class
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
$
$
3
ING Index
Solution 2045
Portfolio Service Class
$
2
ING Index
Solution 2045
Portfolio Service 2 Class
ING Index
Solution 2055
Portfolio - Initial
Class
$
$
16
1
ING Index
Solution 2055
Portfolio Service Class
$
1
2
1
11
1
2
2
1
1
1
11
5
1
-
2
(1)
2
6
5
44
42
1
24
2
8
5
86
1
26
33
27
232
14
13
41
32
318
15
39
42
$
33
$
323
$
The accompanying notes are an integral part of these financial statements.
94
15
$
38
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
ING Index
Solution 2055
Portfolio Service 2 Class
ING Index
ING Index
ING Index
Solution Income Solution Income Solution Income
Portfolio Portfolio Portfolio - Initial
Service 2 Class
Service Class
Class
$
$
$
1
-
$
35
$
7
ING Invesco
Comstock
Portfolio Adviser Class
$
2
1
-
9
2
1
1
-
-
9
26
2
5
1
1
4
3
-
3
43
8
5
-
7
-
46
8
5
26
-
(2)
2
108
33
-
44
10
113
33
$
-
$
70
$
The accompanying notes are an integral part of these financial statements.
95
15
$
114
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
ING Invesco
Comstock
Portfolio Service Class
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
$
$
483
ING Invesco
Equity and
Income
Portfolio Adviser Class
$
8
ING Invesco
Equity and
Income
Portfolio - Initial
Class
$
3,447
ING Invesco
Equity and
Income
Portfolio Service Class
$
3
ING JPMorgan
Mid Cap Value
Portfolio Adviser Class
$
1
592
3
2,410
3
1
592
(109)
3
5
2,410
1,037
3
-
1
-
604
-
11
-
7,732
-
30
-
56
11
604
11
7,732
30
67
16,385
146
44,611
31
25
16,989
157
52,343
61
92
16,880
$
162
$
53,380
$
The accompanying notes are an integral part of these financial statements.
96
61
$
92
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
ING JPMorgan ING JPMorgan
Mid Cap Value Mid Cap Value
Portfolio Portfolio - Initial
Class
Service Class
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
$
$
37
$
326
ING
Oppenheimer
Global
Portfolio Adviser Class
$
6
ING
Oppenheimer
Global
Portfolio - Initial
Class
$
7,884
ING
Oppenheimer
Global
Portfolio Service Class
$
11
29
483
2
5,830
9
29
8
483
(157)
2
4
5,830
2,054
9
2
57
116
1,170
1,818
84
-
19,950
-
15
-
173
2,988
84
19,950
15
544
10,591
57
112,073
195
717
13,579
141
132,023
210
725
$
13,422
$
145
$
134,077
The accompanying notes are an integral part of these financial statements.
97
$
212
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
ING PIMCO
Total Return
Portfolio Adviser Class
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
$
$
73
ING PIMCO
Total Return
Portfolio - Initial
Class
$
19
ING PIMCO
Total Return
Portfolio Service Class
$
7,668
ING Pioneer
High Yield
Portfolio - Initial
Class
$
1,424
ING Pioneer
High Yield
Portfolio Service Class
$
25
8
4
2,198
268
4
8
65
4
15
2,198
5,470
268
1,156
4
21
(19)
16
4
2,524
1,572
661
-
5
-
(3)
4
4,096
661
5
(118)
(27)
(16,754)
1,202
31
(121)
(23)
(12,658)
1,863
36
(56)
$
(8)
$
(7,188)
$
3,019
The accompanying notes are an integral part of these financial statements.
98
$
57
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
ING Solution
2015 Portfolio Adviser Class
ING Solution
2015 Portfolio Initial Class
ING Solution
2015 Portfolio Service Class
ING Solution
2015 Portfolio Service 2 Class
ING Solution
2025 Portfolio Adviser Class
$
$
$
$
$
$
27
57
2,173
312
9
3
7
562
62
2
3
24
7
50
562
1,611
62
250
2
7
2
-
15
-
427
-
188
-
7
-
2
15
427
188
7
48
71
3,313
377
54
50
86
3,740
565
61
74
$
136
$
5,351
$
815
The accompanying notes are an integral part of these financial statements.
99
$
68
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
ING Solution
2025 Portfolio Initial Class
ING Solution
2025 Portfolio Service Class
ING Solution
2025 Portfolio Service 2 Class
ING Solution
2035 Portfolio Adviser Class
ING Solution
2035 Portfolio Initial Class
$
$
$
$
$
$
17
2,753
322
3
32
3
986
97
1
7
3
14
986
1,767
97
225
1
2
7
25
3
-
(266)
-
655
-
19
-
2
-
3
(266)
655
19
2
81
16,037
1,280
23
255
84
15,771
1,935
42
257
98
$
17,538
$
2,160
$
The accompanying notes are an integral part of these financial statements.
100
44
$
282
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
ING Solution
2035 Portfolio Service Class
ING Solution
2035 Portfolio Service 2 Class
ING Solution
2045 Portfolio Adviser Class
ING Solution
2045 Portfolio Initial Class
ING Solution
2045 Portfolio Service Class
$
$
$
$
$
$
2,092
235
2
21
1,339
866
93
-
5
633
866
1,226
93
142
2
5
16
633
706
(2)
-
968
-
7
-
7
-
234
-
(2)
968
7
7
234
18,458
1,442
15
205
15,565
18,456
2,410
22
212
15,799
19,682
$
2,552
$
24
$
228
The accompanying notes are an integral part of these financial statements.
101
$
16,505
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
ING Solution
2045 Portfolio Service 2 Class
ING Solution
2055 Portfolio Initial Class
ING Solution
2055 Portfolio Service Class
ING Solution
2055 Portfolio Service 2 Class
$
$
$
$
$
129
2
65
6
ING Solution
Balanced
Portfolio Service Class
$
62
58
1
42
4
26
58
71
1
1
42
23
4
2
26
36
1,431
-
2
278
88
59
9
72
67
1,431
2
366
68
139
510
26
705
45
201
1,941
28
1,071
113
340
2,012
$
29
$
1,094
$
115
The accompanying notes are an integral part of these financial statements.
102
$
376
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
ING Solution
Income
Portfolio Adviser Class
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
$
$
8
ING Solution
Income
Portfolio - Initial
Class
$
78
ING Solution
Income
Portfolio Service Class
$
518
ING Solution
Moderately
Conservative
Portfolio Service Class
ING Solution
Income
Portfolio Service 2 Class
$
65
$
118
1
10
101
11
40
1
7
10
68
101
417
11
54
40
78
3
-
10
-
197
-
37
-
108
118
3
10
197
37
226
6
67
274
12
42
9
77
471
49
268
16
$
145
$
888
$
103
The accompanying notes are an integral part of these financial statements.
103
$
346
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
ING T. Rowe
ING T. Rowe
ING T. Rowe
Price Diversified Price Diversified Price Diversified
Mid Cap
Mid Cap
Mid Cap
Growth
Growth
Growth
Portfolio Portfolio Portfolio - Initial
Service Class
Class
Adviser Class
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
$
$
1
$
1,044
$
1
ING T. Rowe
Price Growth
Equity
Portfolio Adviser Class
$
-
ING T. Rowe
Price Growth
Equity
Portfolio - Initial
Class
$
56
2
3,713
5
5
2,595
2
(1)
3,713
(2,669)
5
(4)
5
(5)
2,595
(2,539)
81
5
12,606
4,104
29
9
51
-
15,644
-
86
16,710
38
51
15,644
46
90,956
172
402
79,037
132
107,666
210
453
94,681
131
$
104,997
$
206
$
448
The accompanying notes are an integral part of these financial statements.
104
$
92,142
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
ING T. Rowe
Price Growth
Equity
Portfolio Service Class
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
$
$
1
ING Templeton ING Templeton ING Templeton
Foreign Equity Foreign Equity Foreign Equity
Portfolio Portfolio Portfolio - Initial
Class
Service Class
Adviser Class
$
6
$
1,626
$
4
ING UBS U.S.
Large Cap
Equity
Portfolio Adviser Class
$
-
19
2
1,089
1
-
19
(18)
2
4
1,089
537
1
3
-
159
-
33
-
(1,177)
-
7
-
23
-
159
33
(1,177)
7
23
951
57
19,663
49
(15)
1,110
90
18,486
56
8
1,092
$
94
$
19,023
$
The accompanying notes are an integral part of these financial statements.
105
59
$
8
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
ING UBS U.S.
Large Cap
Equity
Portfolio - Initial
Class
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
$
$
320
ING UBS U.S.
Large Cap
Equity
Portfolio Service Class
$
-
ING Core
Equity Research
Fund Class A
$
1
ING Strategic
Allocation
Conservative
Portfolio Class I
$
913
ING Strategic
Allocation
Growth
Portfolio Class I
$
1,202
167
-
1
341
689
167
153
-
1
-
341
572
689
513
16,354
-
3
-
26
-
55
-
(1,906)
-
16,354
3
26
55
(1,906)
(9,707)
(1)
17
3,067
15,036
6,647
2
43
3,122
13,130
6,800
$
2
$
43
$
3,694
The accompanying notes are an integral part of these financial statements.
106
$
13,643
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
ING Strategic
Allocation
Moderate
Portfolio Class I
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
$
$
1,383
ING Growth
and Income
Portfolio Class A
$
13
ING Growth
and Income
Portfolio Class I
$
17,020
ING Growth
and Income
Portfolio Class S
$
2
ING GET U.S.
Core Portfolio Series 11
$
-
605
5
13,985
9
-
605
778
5
8
13,985
3,035
9
(7)
-
(1,847)
-
104
-
2,547
-
1,198
-
-
(1,847)
104
2,547
1,198
-
10,508
240
318,111
(664)
-
8,661
344
320,658
534
-
9,439
$
352
$
323,693
$
527
The accompanying notes are an integral part of these financial statements.
107
$
-
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
ING BlackRock
Science and
Technology
Opportunities
Portfolio Adviser Class
ING BlackRock
Science and
Technology
Opportunities
Portfolio Class I
ING Index Plus
LargeCap
Portfolio Class I
ING Index Plus
LargeCap
Portfolio Class S
ING Index Plus
MidCap
Portfolio Class I
$
$
$
$
$
$
-
-
5,398
5
3,823
-
94
3,029
1
3,060
-
94
(94)
3,029
2,369
1
4
3,060
763
-
(842)
5,890
11,741
-
18
-
6,231
-
-
5,048
11,741
18
6,231
-
(3,069)
67,358
71
89,396
-
1,979
79,099
89
95,627
-
$
1,885
$
81,468
$
The accompanying notes are an integral part of these financial statements.
108
93
$
96,390
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
ING Index Plus
MidCap
Portfolio Class S
ING Index Plus
SmallCap
Portfolio Class I
ING Index Plus
ING
ING
SmallCap
International
International
Portfolio Index Portfolio - Index Portfolio Class S
Class I
Class S
$
$
$
$
4
1,239
1
$
531
$
-
2
1,256
1
230
-
2
2
1,256
(17)
1
-
230
301
-
9
-
1,325
-
8
-
673
-
-
9
1,325
8
673
-
115
43,693
61
3,396
1
124
45,018
69
4,069
1
126
$
45,001
$
69
$
4,370
The accompanying notes are an integral part of these financial statements.
109
$
1
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
ING Russell™
Large Cap
Growth Index
Portfolio Class I
ING Russell™
Large Cap
Growth Index
Portfolio Class S
ING Russell™
ING Russell™
Large Cap
Large Cap
Index Portfolio - Index Portfolio Class I
Class S
$
$
$
$
142
9
449
$
1
ING Russell™
Large Cap
Value Index
Portfolio Class I
$
5
104
3
268
1
4
104
38
3
6
268
181
1
-
4
1
735
-
9
-
1,338
-
3
-
60
2
735
9
1,338
3
62
1,983
192
6,588
35
21
2,718
201
7,926
38
83
2,756
$
207
$
8,107
$
The accompanying notes are an integral part of these financial statements.
110
38
$
84
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
ING Russell™
Large Cap
Value Index
Portfolio Class S
ING Russell™
Mid Cap
Growth Index
Portfolio Class S
ING Russell™
Mid Cap Index
Portfolio Class I
ING Russell™
Small Cap Index
Portfolio Class I
$
$
$
$
$
77
48
375
228
ING Small
Company
Portfolio Class I
$
706
53
63
244
157
1,338
53
24
63
(15)
244
131
157
71
1,338
(632)
420
36
541
-
1,407
939
587
576
860
10,987
456
541
2,346
1,163
11,847
881
1,487
7,141
4,457
32,065
1,337
2,028
9,487
5,620
43,912
1,361
$
2,013
$
9,618
$
5,691
The accompanying notes are an integral part of these financial statements.
111
$
43,280
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
ING Small
Company
Portfolio Class S
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
$
$
1
ING
ING
International
International
ING U.S. Bond
Index Portfolio - Value Portfolio - Value Portfolio Class I
Class I
Class S
$
199
$
1,587
$
5
ING MidCap
Opportunities
Portfolio Class I
$
34
1
92
442
1
884
1
-
92
107
442
1,145
1
4
884
(850)
2
20
(125)
110
(5,597)
-
(2)
-
5,484
2,444
22
(15)
(5,597)
(2)
7,928
57
(464)
15,690
38
16,439
79
(479)
10,093
36
24,367
79
$
(372)
$
11,238
$
The accompanying notes are an integral part of these financial statements.
112
40
$
23,517
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
ING MidCap
Opportunities
Portfolio Class S
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
$
$
-
ING SmallCap
Opportunities
Portfolio Class I
ING SmallCap
Opportunities
Portfolio Class S
Janus Aspen
Series Balanced
Portfolio Institutional
Shares
$
$
$
-
-
3
Janus Aspen
Series
Enterprise
Portfolio Institutional
Shares
$
1
9
305
-
2
4
9
(9)
305
(305)
-
2
1
4
(3)
317
43
3,102
2,064
4
6
3
7
33
-
360
5,166
10
10
33
67
6,273
20
13
53
427
11,439
30
23
86
418
$
11,134
$
30
$
The accompanying notes are an integral part of these financial statements.
113
24
$
83
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Janus Aspen
Series Global
Research
Portfolio Institutional
Shares
Janus Aspen
Series Flexible
Bond Portfolio Institutional
Shares
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
$
$
2
$
2
Janus Aspen
Series Janus
Portfolio Institutional
Shares
$
1
JPMorgan
Government
Bond Fund Select Class
$
7
Lazard
Emerging
Markets Equity
Portfolio - Open
Shares
$
-
-
2
1
2
-
2
2
-
1
-
2
5
-
1
1
-
2
-
(7)
1
-
1
1
2
(6)
-
(2)
34
17
(15)
-
(1)
35
19
(21)
-
1
$
35
$
19
$
The accompanying notes are an integral part of these financial statements.
114
(16)
$
-
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
Loomis Sayles
Lazard U.S. Mid
Small Cap Value
Cap Equity
Portfolio - Open LKCM Aquinas
Fund - Retail
Class
Shares
Growth Fund
Lord Abbett
Developing
Growth Fund Class A
Lord Abbett
Core Fixed
Income Fund Class A
$
$
$
$
13
$
-
$
3
-
1
29
3
126
2
1
29
(16)
3
(3)
126
(123)
2
(2)
1
-
296
-
13
36
552
1,272
3
43
-
296
49
1,824
46
-
936
40
2,154
36
(2)
1,232
89
3,978
82
(2)
1,216
$
86
$
3,855
$
The accompanying notes are an integral part of these financial statements.
115
80
$
(2)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
Lord Abbett
Mid Cap Stock
Fund - Class A
Lord Abbett
SmallCap Value
Fund - Class A
$
$
4
$
1
Lord Abbett
Series Fund
MidCap Stock
Portfolio Class VC
MainStay Large
Cap Growth
Fund - Class R3
$
$
405
-
8
12
2
942
-
8
(4)
12
(12)
2
(1)
942
(537)
-
151
-
74
326
6
37
(309)
-
2
30
151
400
43
(309)
32
101
(8)
252
$
-
Lord Abbett
Fundamental
Equity Fund Class A
248
392
$
380
$
20
26,886
127
63
26,577
159
62
$
26,040
The accompanying notes are an integral part of these financial statements.
116
$
159
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
Massachusetts
Investors
Growth Stock
Fund - Class A
Metropolitan
West Total
Return Bond
Fund - Class M
Shares
Neuberger
Berman Socially
Neuberger
Responsive
Berman Genesis
Fund - Trust
Fund - Trust
New Perspective
Class
Class
Fund - Class R-3
$
$
$
$
3
23
1
$
139
$
12
4
8
1
118
9
4
(1)
8
15
1
-
118
21
9
3
45
7
(1)
20
13
654
1,241
240
109
52
19
13
1,895
349
88
(18)
32
1,684
177
140
1
45
3,579
526
139
$
16
$
45
$
3,600
The accompanying notes are an integral part of these financial statements.
117
$
529
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
New Perspective
Fund - Class R-4
Oppenheimer
Capital
Appreciation
Fund - Class A
Oppenheimer
Developing
Markets Fund Class A
Oppenheimer
Developing
Markets Fund Class Y
Oppenheimer
Gold & Special
Minerals Fund Class A
$
$
$
$
$
$
872
-
267
172
-
832
2
2,843
166
-
832
40
2
(2)
2,843
(2,576)
166
6
-
(62)
5,123
107
4
(4,297)
1,314
496
188
(3)
-
5,061
111
(2,983)
684
(3)
18,214
(49)
24,650
2,350
(7)
23,275
62
21,667
3,034
(10)
23,315
$
60
$
19,091
$
3,040
The accompanying notes are an integral part of these financial statements.
118
$
(10)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Oppenheimer
International
Bond Fund Class A
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
$
$
5
Oppenheimer
Discovery Mid
Cap Growth
Fund/VA
Oppenheimer
Global Strategic
Income
Oppenheimer
Fund/VA
Global Fund/VA
$
$
-
3
$
5
Oppenheimer
Main Street
Fund®/VA
$
1
1
1
2
1
1
1
4
1
(1)
2
1
1
4
1
-
(2)
-
2
-
1
-
1
-
2
-
(2)
2
1
1
2
(9)
12
55
(6)
17
(11)
14
56
(5)
19
(7)
$
13
$
57
$
The accompanying notes are an integral part of these financial statements.
119
(1)
$
19
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Oppenheimer
Main Street
Small Cap
Fund®/VA
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
$
$
142
Parnassus
Equity Income
Fund - Investor
Shares
Pax World
Balanced Fund Individual
Investor Class
PIMCO Real
Return
Portfolio Administrative
Class
Pioneer Equity
Income Fund Class Y
$
$
$
$
60
387
2,797
82
154
31
490
1,715
29
154
(12)
31
29
490
(103)
1,715
1,082
29
53
985
187
99
314
100
5,189
7,260
1,223
34
146
1,172
413
5,289
8,483
180
4,192
414
1,581
(31,921)
441
5,364
827
6,870
(23,438)
621
5,352
$
856
$
6,767
$
(22,356)
The accompanying notes are an integral part of these financial statements.
120
$
674
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Pioneer High
Yield Fund Class A
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
$
$
100
Pioneer
Strategic Income
Fund - Class A
$
60
Pioneer
Emerging
Markets VCT
Portfolio Class I
$
161
Pioneer High
Yield VCT
Portfolio Class I
$
1,587
Columbia
Diversified
Equity Income
Fund - Class K
$
130
13
8
123
295
71
13
87
8
52
123
38
295
1,292
71
59
103
68
13
19
340
-
(21)
1,775
503
-
171
32
340
1,754
503
(28)
(71)
(913)
39
1,655
143
(39)
(573)
1,793
2,158
230
$
13
$
(535)
$
3,085
The accompanying notes are an integral part of these financial statements.
121
$
2,217
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
Royce Total
Return Fund K Class
SMALLCAP
World Fund® Class R-4
T. Rowe Price
Mid-Cap Value
Fund - R Class
$
$
$
$
-
-
2
T. Rowe Price
Value Fund Advisor Class
$
3
Templeton
Foreign Fund Class A
$
24
-
101
5
3
10
-
101
(101)
5
(3)
3
-
10
14
-
365
575
80
40
34
15
102
63
-
940
120
49
165
-
1,605
115
30
171
-
2,545
235
79
336
-
$
2,444
$
232
$
The accompanying notes are an integral part of these financial statements.
122
79
$
350
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
Templeton
Global Bond
Fund - Advisor
Class
Templeton
Global Bond
Fund - Class A
$
$
$
1,683
8,207
Thornburg
International
Value Fund Class R4
$
-
USAA Precious
Metals and
Minerals Fund Adviser Shares
Diversified
Value Portfolio
$
$
-
2
179
1,992
-
64
1
179
1,504
1,992
6,215
-
64
(64)
1
1
(4)
9
1,806
47
-
(2,926)
-
-
5
1,853
-
(2,926)
-
(907)
(5,834)
6
(1,813)
23
(902)
(3,981)
6
(4,739)
23
602
$
2,234
$
6
$
(4,803)
The accompanying notes are an integral part of these financial statements.
123
$
24
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
Equity Income
Portfolio
Small Company
Growth
Portfolio
Victory Small
Company
Opportunity
Fund - Class R
$
$
$
12
-
$
1,082
Wanger Select
$
252
4
-
-
323
734
4
8
-
-
323
759
734
(482)
87
-
7
2
1
1,101
2,753
1,217
1,276
87
9
1
3,854
2,493
(2)
2
3
3,215
23,722
11
4
7,069
26,215
85
$
-
Wanger
International
93
$
11
$
4
$
7,828
The accompanying notes are an integral part of these financial statements.
124
$
25,733
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Operations
For the Year Ended December 31, 2013
(Dollars in thousands)
Wanger USA
Net investment income (loss)
Investment Income:
Dividends
Expenses:
Mortality expense risk
charges
Total expenses
Net investment income (loss)
Realized and unrealized gain (loss)
on investments
Net realized gain (loss) on investments
Capital gains distributions
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation
(depreciation) of investments
Net realized and unrealized gain (loss)
on investments
Net increase (decrease) in net assets
resulting from operations
$
$
91
Washington
Washington
Wells Fargo
Mutual
Mutual
Advantage
Investors Fund - Investors Fund - Small Cap Value
Class R-3
Class R-4
Fund - Class A
Wells Fargo
Advantage
Special Small
Cap Value
Fund - Class A
$
$
90
$
2,511
$
-
125
508
22
1,101
1
1,146
508
(417)
22
68
1,101
1,410
1
(1)
1,146
(1,021)
1,131
5,803
302
92
1,611
2,302
20
11
214
6,994
6,934
394
3,913
31
7,208
12,172
730
23,143
(12)
26,823
19,106
1,124
27,056
19
34,031
18,689
$
1,192
$
28,466
$
The accompanying notes are an integral part of these financial statements.
125
18
$
33,010
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
Invesco Mid
Cap Core
Equity Fund Class A
$
4,891
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
Invesco Small Cap
Growth Fund Class A
$
32
Invesco
International
Growth Fund Class R5
$
-
Invesco
Endeavor
Fund - Class A
$
-
(20)
-
-
-
442
8
-
3
17
439
(3)
5
-
(1)
2
(778)
(11)
30
34
(778)
(339)
4,552
(11)
(6)
26
30
30
30
34
36
36
(45)
-
2
-
698
3
1
6
553
1,206
7
10
18
21
6
12
(1,184)
2
166
15
(1,184)
22
4,574
2
12
38
166
187
217
15
27
63
$
$
The accompanying notes are an integral part of these financial statements.
126
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
Invesco Small
Cap Value
Fund - Class A
$
82
Invesco V.I.
American
Franchise
Fund - Series I
Shares
$
-
Invesco V.I.
Core Equity
Fund - Series I
Shares
$
34,790
(1)
(1)
(138)
(24)
27
13
(115)
725
12
38
6
18
(476)
(729)
3,530
4,231
20
41
20,484
(4,339)
20
58
234
41
59
141
20,484
19,755
19,755
(4,339)
(108)
34,682
Invesco Global
Health Care
Fund - Investor
Class
$
176
$
(1)
(2)
(129)
41
26
349
1,550
59
99
56
80
7,115
7,335
7,604
9,285
23
97
(1,025)
(3,816)
23
122
356
97
177
318
(1,025)
6,310
26,065
(3,816)
5,469
40,151
$
$
The accompanying notes are an integral part of these financial statements.
127
131
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
Alger Capital
Appreciation
Fund - Class A
$
-
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
Alger Green
Fund - Class A
$
1,622
AllianceBernstein AllianceBernstein
Growth and
Growth and
Income Fund,
Income Portfolio Inc. - Class A
Class A
$
172
$
473
2
(17)
-
2
2
45
9
11
10
14
207
235
19
28
63
76
478
173
1
(73)
478
492
492
173
408
2,030
1
29
201
(73)
3
476
(2)
(33)
(1)
49
417
38
66
127
174
492
876
14
51
87
153
57
1,306
(69)
45
57
231
723
1,306
2,182
4,212
(69)
(18)
183
45
198
674
$
$
The accompanying notes are an integral part of these financial statements.
128
-
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
AllianzGI NFJ
Dividend Value
Fund - Class A
$
179
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
AllianzGI NFJ
Large-Cap
Value Fund Institutional
Class
$
3,063
AllianzGI NFJ
Small-Cap
Value Fund Class A
$
395
3
40
1
(229)
3
358
61
726
16
22
(45)
353
(27)
35
2,456
2,953
5
(3,381)
(30)
4,614
5
27
206
(3,381)
(3,028)
35
(30)
5
400
4,614
7,567
35,389
3
1
1
9
4
66
2,988
44
56
5
10
63
130
4,468
7,321
(16)
(20)
54
(2,949)
(16)
40
246
(20)
(10)
25
54
184
584
(2,949)
4,372
39,761
$
$
The accompanying notes are an integral part of these financial statements.
129
Amana Growth
Fund
$
27,822
(135)
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
Amana Income
Fund
$
40,417
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
American
Balanced
Fund® Class R-3
$
5,726
American
Century
InflationAdjusted Bond
Fund - Investor
Class
$
43,588
American
Century Income
& Growth
Fund - A Class
$
5,331
338
60
657
48
722
27
1,442
(134)
2,751
3,811
640
727
491
2,590
800
714
7,737
(682)
8,410
329
7,737
11,548
51,965
(682)
45
5,771
8,410
11,000
54,588
329
1,043
6,374
71
371
54
62
1,879
119
1,097
13,098
15,348
1,055
1,228
(5,842)
(4,683)
2,269
2,289
5,113
354
(17,045)
986
5,113
20,461
72,426
354
1,582
7,353
(17,045)
(21,728)
32,860
986
3,275
9,649
$
$
The accompanying notes are an integral part of these financial statements.
130
(51)
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
Fundamental
Investors Class R-4
$
32,351
6
135
1
-
55
1,817
-
160
117
178
3,203
5,155
1
2
(31)
129
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
American Funds
Ariel
Appreciation
American
Mutual Fund® - Fund - Investor
Class R-4
Class
$
6
$
679
Fundamental
Investors Class R-3
$
1,093
$
(68)
(222)
53
58
(68)
110
1,203
(222)
4,933
37,284
53
55
61
58
187
866
10
218
7
108
3,287
22
205
312
430
8,071
11,576
51
80
105
309
303
2,336
747
(435)
303
733
1,936
2,336
13,912
51,196
747
827
888
(435)
(126)
740
$
$
The accompanying notes are an integral part of these financial statements.
131
(1)
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
Ariel Fund Investor Class
$
3,064
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
Artisan
International
Fund - Investor
Shares
$
2,674
(2)
16
5
12
(59)
76
293
16
680
772
661
959
51
79
(289)
1,597
2,377
448
(289)
264
3,328
1,597
2,369
5,043
2,377
3,336
8,892
448
527
1,014
(26)
12
614
553
$
BlackRock
Aston/Fairpointe Equity Dividend
Mid Cap Fund - Fund - Investor
A Shares
Class N
$
5,556
$
487
(184)
13
726
439
3,506
33
1,692
2,392
1,143
1,594
3,023
6,345
210
256
4,847
3,647
18,198
164
4,847
7,239
10,567
3,647
5,241
10,284
18,198
24,543
33,435
164
420
1,434
$
$
The accompanying notes are an integral part of these financial statements.
132
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
BlackRock Mid
Cap Value
Opportunities
Fund - Investor
A Shares
$
7,480
Bond Fund of
America Class R-4
$
9,219
(60)
162
79
7
425
99
275
6
654
1,019
214
475
3,725
4,079
62
75
1,265
1,260
(1,946)
23
1,265
2,284
9,764
1,260
1,735
10,954
(1,946)
2,133
46,174
23
98
513
135
(2)
10
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
(77)
$
Calvert VP SRI
Balanced
Portfolio
$
44,041
Capital World
Growth &
Income FundSM,
Inc. - Class R-3
$
415
1,976
141
5,099
12
1,750
3,649
(591)
(315)
2,569
7,666
104
126
2,703
(1,395)
(1,140)
46
2,703
6,352
16,116
(1,395)
(1,710)
9,244
(1,140)
6,526
52,700
46
172
685
$
$
The accompanying notes are an integral part of these financial statements.
133
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
Cohen & Steers
Realty Shares
$
677
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
ColumbiaSM
Acorn Fund® Class A
$
69
ColumbiaSM
Acorn Fund® Class Z
$
10,848
20
(1)
-
211
5
740
344
(80)
151
7
11
476
1,216
236
571
1,310
5
(12,025)
(255)
1,310
1,461
2,138
5
16
85
(12,025)
(10,809)
39
(255)
316
4,121
(9)
(27)
36
(1)
(1)
118
8
3
1,265
(144)
10
17
24
9
11
222
1,460
286
(6)
4
399
286
296
2,434
(6)
18
103
4
15
54
399
1,859
5,980
$
$
The accompanying notes are an integral part of these financial statements.
134
Columbia Mid
Cap Value
Fund - Class A
$
3,805
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
Columbia Mid
Cap Value
Fund - Class Z
$
5,363
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
CRM Mid Cap
Value Fund Investor Shares
$
216
Delaware
Diversified
Income Fund Class A
$
-
Delaware Small
Cap Value
Fund - Class A
$
-
20
-
3
-
389
5
7
-
103
512
28
33
(8)
2
-
(5,874)
(17)
799
-
(5,874)
(5,362)
1
(17)
16
232
799
801
801
-
-
(1)
41
-
-
51
(48)
2
-
25
75
(34)
(41)
6
8
1
6
1,127
101
1
1
2
6
81
313
1,127
1,086
1,887
101
109
109
$
$
$
The accompanying notes are an integral part of these financial statements.
135
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
Dodge & Cox
Stock Fund
$
24
3
-
4
1
(4)
1
2
1
34
33
3
4
53
59
8
10
55
-
32
42
55
88
224
4
28
32
91
491
42
52
98
3
-
5
-
8
6
5
17
56
67
15
21
145
155
13
30
89
79
30
3
89
156
380
79
100
128
30
185
676
3
33
131
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
Eaton Vance
Large-Cap
DWS Equity 500
Value Fund Index Fund Class S
Class R
$
400
$
46
Dodge & Cox
International
Stock Fund
$
136
$
$
$
The accompanying notes are an integral part of these financial statements.
136
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
Fidelity®
Advisor New
Insights Fund EuroPacific
EuroPacific
Institutional
Growth Fund® - Growth Fund® Class R-4
Class
Class R-3
$
9,736
$
235,342
$
259
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
78
$
Fidelity® VIP
Equity-Income
Portfolio - Initial
Class
$
256,279
2,371
(5)
5,496
(1,099)
(3,415)
7
10,716
2,429
1,408
43,042
41,998
41
43
23,385
39,597
(2,394)
(8,726)
163
(31,324)
(2,394)
(986)
8,750
(8,726)
33,272
268,614
163
206
465
(31,324)
8,273
264,552
13
459
892
(691)
(7)
4,268
113
17,227
555
1,460
51,226
50,994
55
161
47,229
68,724
(1,548)
(4,948)
103
(26,669)
(1,548)
(88)
8,662
(4,948)
46,046
314,660
103
264
729
(26,669)
42,055
306,607
$
$
The accompanying notes are an integral part of these financial statements.
137
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
Fidelity® VIP
Fidelity® VIP
Fidelity® VIP
Fidelity® VIP
Growth
High Income
Overseas
Contrafund®
Portfolio - Initial Portfolio - Initial Portfolio - Initial Portfolio - Initial
Class
Class
Class
Class
$
214,512
$
9,729
$
27,985
$
988,331
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
(877)
$
562
276
4,722
2,742
378
(2,636)
10,447
26,800
28,665
392
1,332
7,492
5,132
134,125
149,294
(18,100)
1,106
(3,738)
(52,156)
(18,100)
10,565
225,077
1,106
2,438
12,167
(3,738)
1,394
29,379
(52,156)
97,138
1,085,469
(1,690)
520
143
1,964
10,773
315
(1,965)
23,779
65,870
74,953
(312)
523
10,114
8,292
291,519
317,262
(25,029)
(1,336)
(1,359)
(82,018)
(25,029)
49,924
275,001
(1,336)
(813)
11,354
(1,359)
6,933
36,312
(82,018)
235,244
1,320,713
$
$
The accompanying notes are an integral part of these financial statements.
138
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
Fidelity® VIP
Fidelity® VIP
Fidelity® VIP
Index 500
Mid Cap
Asset Manager Mutual Global
Discovery
Portfolio - Initial Portfolio - Initial Portfolio - Initial
Class
Class
Class
Fund - Class R
$
103,342
$
18,110
$
20,844
$
2,800
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
1,184
127
111
18
3,514
1,280
243
350
10,383
15,081
1,266
2,673
1,971
2,325
(55)
313
(2,664)
(184)
(577)
(694)
(2,664)
12,417
115,759
(184)
2,489
20,599
(577)
1,748
22,592
(694)
(381)
2,419
1,072
127
97
17
4,779
3,793
428
319
30,085
35,936
3,481
7,401
2,542
3,067
210
546
1,981
(145)
(2,409)
(355)
1,981
37,917
153,676
(145)
7,256
27,855
(2,409)
658
23,250
(355)
191
2,610
$
$
The accompanying notes are an integral part of these financial statements.
139
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
Franklin SmallMid Cap
Growth Fund Class A
$
673
Franklin Small
Cap Value
Securities
Fund - Class 2
$
109,148
(4)
(88)
(28)
108
(2,989)
(191)
(28)
76
20,357
17,280
2,681
2,462
48,646
50,568
(196)
(16,316)
(4,454)
(35,110)
(196)
(120)
553
(16,316)
964
110,112
(4,454)
(1,992)
12,373
(35,110)
15,458
287,158
(81)
(1,953)
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
(4)
$
Growth Fund of Growth Fund of
America America Class R-4
Class R-3
$
14,365
$
271,700
497
2,413
156
4,350
1,965
27,868
59
211
33,299
38,146
2,073
3,957
65,718
91,633
(5)
(4,257)
(416)
(14,877)
(5)
206
759
(4,257)
33,889
144,001
(416)
3,541
15,914
(14,877)
76,756
363,914
$
$
The accompanying notes are an integral part of these financial statements.
140
(491)
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
The Hartford
Capital
Appreciation
Fund - Class R4
$
173
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
The Hartford
Dividend And
Growth Fund Class R4
$
28
Income Fund of
America Class R-3
$
2,121
-
2
55
6,116
(7)
6
104
658
40
33
1
9
53
212
28,971
35,745
(47)
224
(348)
(29,746)
(47)
(14)
159
224
233
261
(348)
(136)
1,985
(29,746)
5,999
305,260
(1)
2
53
3,429
72
73
82
3,552
(9)
62
(2)
73
207
342
37,873
44,854
(221)
(330)
65
(33,009)
(221)
(159)
-
(330)
(257)
4
65
407
2,392
(33,009)
11,845
317,105
$
$
The accompanying notes are an integral part of these financial statements.
141
ING Balanced
Portfolio Class I
$
299,261
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING Growth
Opportunities
Fund - Class A
$
-
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
ING Large Cap
Value Fund Class A
$
-
ING MidCap
Opportunities
Fund - Class A
$
-
-
-
-
34
-
-
-
310
-
-
-
(47)
297
63
-
-
(441)
63
63
63
-
-
(441)
(144)
1,954
(1)
-
-
34
6
-
-
164
16
21
-
-
(180)
18
23
6
1
(64)
23
44
107
6
6
6
1
1
1
(64)
(46)
1,908
$
$
The accompanying notes are an integral part of these financial statements.
142
ING Real Estate
Fund - Class A
$
2,098
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING Value
Choice Fund Class A
$
3
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
ING GNMA
Income Fund Class A
$
4,837
ING
Intermediate
Bond Fund Class A
$
3,356
-
131
130
14,612
-
105
149
(1,690)
-
(133)
103
(27)
252
19,014
31,936
1
(484)
(358)
(10,406)
1
1
4
(484)
(381)
4,456
(358)
(106)
3,250
(10,406)
21,530
408,463
-
108
60
8,549
-
(15)
83
(1,699)
1
1
(202)
(109)
(197)
(54)
(11,051)
(4,201)
(5)
(526)
(1,190)
(56,068)
(5)
(4)
-
(526)
(635)
3,821
(1,190)
(1,244)
2,006
(56,068)
(60,269)
348,194
$
$
The accompanying notes are an integral part of these financial statements.
143
ING
Intermediate
Bond Portfolio Class I
$
386,933
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING
Intermediate
Bond Portfolio Class S
$
922
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
ING BlackRock
Health Sciences
Opportunities
Portfolio Service Class
$
11,294
46
ING BlackRock
Inflation
Protected Bond
Portfolio Adviser Class
$
74
ING BlackRock
Large Cap
Growth
Portfolio Institutional
Class
$
82,025
(15)
-
(270)
5
659
4
(1,914)
34
85
1,411
2,055
(1)
3
13,222
11,038
195
1,120
20
(7,134)
195
280
1,202
1,120
3,175
14,469
20
23
97
(7,134)
3,904
85,929
28
$
(208)
-
301
(184)
33
3,070
3
(69)
(8)
5,179
8,041
(10)
(7)
25,760
25,877
(201)
10,698
(25)
(9,822)
(201)
(209)
993
10,698
18,739
33,208
(25)
(32)
65
(9,822)
16,055
101,984
$
$
The accompanying notes are an integral part of these financial statements.
144
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING BlackRock
Large Cap
Growth
Portfolio Service Class
$
551
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
ING BlackRock
Large Cap
Growth
Portfolio Service 2 Class
$
261
ING Clarion
Global Real
Estate
Portfolio Adviser Class
$
2
-
-
-
(57)
1
12
-
(3)
72
73
24
36
1
1
14,659
14,599
(122)
(3)
4
7,650
(122)
(49)
502
(3)
33
294
4
5
7
7,650
22,249
77,810
2
2
-
4,122
26
23
-
877
62
90
62
87
-
(2,778)
2,221
(304)
(52)
(1)
2,568
(304)
(214)
288
(52)
35
329
(1)
(1)
6
2,568
4,789
82,599
$
$
The accompanying notes are an integral part of these financial statements.
145
ING Clarion
Global Real
Estate
Portfolio Institutional
Class
$
55,561
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING Clarion
Real Estate
Portfolio Adviser Class
$
18
ING Clarion
Real Estate
Portfolio Service Class
$
48,009
-
6
68
203
-
83
1,460
9
3
3
228
317
5,407
6,935
747
959
20
(171)
(560)
26,785
20
23
41
(171)
146
2,303
(560)
6,375
54,384
26,785
27,744
27,744
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
ING FMRSM
Diversified Mid
Cap Portfolio Institutional
Class
$
-
ING Clarion
Real Estate
Portfolio Institutional
Class
$
2,157
$
-
13
253
92
1
151
4,992
1,104
(1)
-
(120)
44
(4,567)
678
8,741
9,937
(3)
(419)
(4,849)
(1,212)
(3)
(3)
38
(419)
(375)
1,928
(4,849)
(4,171)
50,213
(1,212)
8,725
36,469
$
$
The accompanying notes are an integral part of these financial statements.
146
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
ING Global
Resources
Portfolio Adviser Class
$
2
ING Global
Resources
Portfolio Institutional
Class
$
30
-
-
-
6,808
-
-
(1)
1,405
7,972
2
2
-
(1)
(23,579)
(6)
-
(3)
(23,579)
(15,607)
48,491
(6)
(4)
8
2
(3)
(4)
26
-
-
-
3,729
-
-
-
12,595
16,077
8
8
-
3
3
(4,916)
22
(1)
(1)
(4,916)
11,161
59,652
22
30
38
(1)
(1)
1
(1)
2
28
ING FMRSM
Diversified Mid
Cap Portfolio Service Class
$
64,098
ING FMRSM
Diversified Mid
Cap Portfolio Service 2 Class
$
12
(241)
(247)
$
$
$
The accompanying notes are an integral part of these financial statements.
147
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING Global
Resources
Portfolio Service Class
$
122,291
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
ING Invesco
Growth and
Income
Portfolio Institutional
Class
$
-
(243)
$
ING Invesco
Growth and
Income
Portfolio Service Class
$
19,901
ING JPMorgan
Emerging
Markets Equity
Portfolio Adviser Class
$
286
246
(1)
(9)
(7,450)
3
1,289
1
3,008
(4,685)
195
189
1,128
2,663
54
54
(15,872)
6,379
(4,723)
(33)
(15,872)
(20,557)
101,734
6,379
6,568
6,568
(4,723)
(2,060)
17,841
(33)
21
307
(61)
103
94
1
(7,064)
163
1,502
1
18,734
11,609
2,335
2,601
4,579
6,175
(18)
(16)
(15,676)
3,088
1,929
(26)
(15,676)
(4,067)
97,667
3,088
5,689
12,257
1,929
8,104
25,945
(26)
(42)
265
$
$
The accompanying notes are an integral part of these financial statements.
148
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING JPMorgan
Emerging
Markets Equity
Portfolio Service Class
$
23,894
(318)
(264)
-
(12)
(562)
(448)
-
10
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
ING JPMorgan
Small Cap Core
Equity
Portfolio Institutional
Class
$
-
ING JPMorgan
Emerging
Markets Equity
Portfolio Institutional
Class
$
28,902
5,934
5,054
4,740
4,028
2
2
360
358
(1,485)
(1,613)
5
8,655
(1,485)
3,569
32,471
(1,613)
2,415
26,309
5
7
16
8,655
9,013
9,013
(37)
-
72
22
$
ING JPMorgan
Small Cap Core
Equity
Portfolio Adviser Class
$
9
2,441
2,606
-
683
(4,555)
(2,092)
(4,249)
(1,680)
5
5
3,736
4,491
(6,137)
(4,185)
1
5,965
(6,137)
(8,229)
24,242
(4,185)
(5,865)
20,444
1
6
22
5,965
10,456
19,469
$
$
The accompanying notes are an integral part of these financial statements.
149
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING JPMorgan
Small Cap Core
Equity
Portfolio Service Class
$
8,714
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
ING Large Cap
Growth
Portfolio Adviser Class
$
113
(58)
$
ING Large Cap
Growth
Portfolio Institutional
Class
$
133,022
ING Large Cap
Growth
Portfolio Service Class
$
266
(646)
(1)
-
2,108
1
1,995
9
(410)
1,640
18
19
22,687
24,036
28
36
(1,952)
23
36,282
36
(1,952)
(312)
8,402
23
42
155
36,282
60,318
193,340
36
72
338
(20)
-
983
5
6,024
87
3,319
4,282
40
45
53,594
58,840
200
287
5,308
(13)
2,412
1,347
5,308
9,590
17,992
(13)
32
187
2,412
61,252
254,592
1,347
1,634
1,972
$
(778)
$
The accompanying notes are an integral part of these financial statements.
150
-
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING Limited
ING Large Cap
ING Large Cap Value Portfolio - ING Large Cap Maturity Bond
Portfolio Value Portfolio Institutional
Value Portfolio Service Class
Adviser Class
Class
Adviser Class
$
$
212,312
$
821
$
-
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
-
3,471
14
-
-
(1,938)
19
-
-
26,310
27,843
65
98
-
-
(22,790)
(211)
17
-
(22,790)
5,053
217,365
(211)
(113)
708
17
17
17
-
3,519
12
-
-
4,284
61
-
3
3
61,994
69,797
169
242
-
26
55,179
309
1
26
29
29
55,179
124,976
342,341
309
551
1,259
1
1
18
$
$
The accompanying notes are an integral part of these financial statements.
151
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING Marsico
Growth
Portfolio Institutional
Class
$
8,799
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
ING Marsico
Growth
Portfolio Service Class
$
570
(30)
(1)
333
116
726
1,029
$
ING MFS Total
Return
Portfolio Adviser Class
$
1,120
(41)
74
ING MFS Total
Return
Portfolio Institutional
Class
$
55,604
21
946
9
(1,062)
82
112
5,694
5,578
(115)
(547)
(93)
(5,080)
(115)
914
9,713
(547)
(473)
97
(93)
19
1,139
(5,080)
498
56,102
5
-
20
765
1,264
6
83
(238)
2,117
3,386
21
27
88
191
9,177
9,704
(93)
(25)
(296)
(2,771)
(93)
3,293
13,006
(25)
2
99
(296)
(105)
1,034
(2,771)
6,933
63,035
$
$
The accompanying notes are an integral part of these financial statements.
152
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING MFS Total
Return
Portfolio Service Class
$
24,886
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
ING MFS
Utilities
Portfolio Service Class
$
42,549
ING Morgan
Stanley Global
Franchise
Portfolio Adviser Class
$
15
ING MultiManager Large
Cap Core
Portfolio Institutional
Class
$
19,761
360
972
1
160
(436)
(1,005)
1
(656)
2,548
2,472
5,203
5,170
1
3
2,289
1,793
(1,679)
(2,159)
13
(1,923)
(1,679)
793
25,679
(2,159)
3,011
45,560
13
16
31
(1,923)
(130)
19,631
319
544
1
53
(298)
(117)
2
76
5,597
5,726
4,398
4,419
8,167
8,594
3
6
(1,309)
(1,751)
-
(919)
(1,309)
3,110
28,789
(1,751)
6,843
52,403
6
37
(919)
4,807
24,438
$
$
The accompanying notes are an integral part of these financial statements.
153
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING MultiManager Large
Cap Core
Portfolio Service Class
$
271
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
ING PIMCO
High Yield
Portfolio Adviser Class
$
29
ING PIMCO
High Yield
Portfolio Institutional
Class
$
10,100
ING PIMCO
High Yield
Portfolio Service Class
$
23,607
1
2
910
1,628
12
1
103
1,219
10
23
2
5
993
2,006
740
3,587
(21)
17
16,552
3,655
(21)
2
273
17
22
51
16,552
18,558
28,658
3,655
7,242
30,849
(1)
3
1,607
1,441
10
1
328
417
66
75
(1)
3
(478)
1,457
(563)
1,295
(10)
(8)
1,000
(4,805)
(10)
65
338
(8)
(5)
46
1,000
2,457
31,115
(4,805)
(3,510)
27,339
$
$
The accompanying notes are an integral part of these financial statements.
154
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING Pioneer
Mid Cap Value
Portfolio Adviser Class
$
-
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
ING Pioneer
Mid Cap Value
Portfolio Institutional
Class
$
80,950
-
163
-
ING Pioneer
Mid Cap Value
Portfolio Service Class
$
359
-
2
(2,119)
44
5
1
1
9,869
7,913
(12)
32
15
22
22
(12,837)
(13)
27
22
23
23
(12,837)
(4,924)
76,026
(13)
19
378
27
49
195
-
239
1
2
5
16,419
96
17
(1)
4
(3,035)
13,623
(30)
67
28
47
(27)
(89,649)
(445)
104
(27)
(23)
-
(89,649)
(76,026)
-
(445)
(378)
-
104
151
346
$
$
The accompanying notes are an integral part of these financial statements.
155
ING T. Rowe
Price Capital
Appreciation
Portfolio Adviser Class
$
146
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING T. Rowe
Price Capital
Appreciation
Portfolio Institutional
Class
$
-
ING T. Rowe
Price Capital
Appreciation
Portfolio Service Class
$
396,097
ING T. Rowe
Price Equity
Income
Portfolio Adviser Class
$
1,447
ING T. Rowe
Price Equity
Income
Portfolio Service Class
$
100,170
1,564
2,330
21
1,250
67
6,039
(13)
(4,005)
2,037
3,668
43,843
52,212
229
237
18,433
15,678
108,746
(70,561)
(46)
(11,280)
108,746
112,414
112,414
(70,561)
(18,349)
377,748
(46)
191
1,638
(11,280)
4,398
104,568
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
1,379
859
17
9,700
30,663
118
15,535
26,614
51,011
82,533
309
444
27,497
28,495
20,691
29,213
(289)
(10,602)
20,691
47,305
159,719
29,213
111,746
489,494
(289)
155
1,793
(10,602)
17,893
122,461
$
$
The accompanying notes are an integral part of these financial statements.
156
1,028
(30)
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING T. Rowe
ING T. Rowe
Price
Price
International
International
Stock Portfolio - Stock Portfolio Adviser Class
Service Class
$
83
$
6,872
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
(50)
9
34
-
(186)
(24)
180
153
138
564
778
1,417
1,181
5
(499)
(6)
220
5
19
102
(499)
682
7,554
(6)
132
841
220
998
4,823
1
8
7
37
1
320
122
551
12
14
632
960
72
201
963
1,551
4
(616)
(229)
585
4
18
120
(616)
344
7,898
(229)
(28)
813
585
2,136
6,959
$
$
The accompanying notes are an integral part of these financial statements.
157
ING Templeton
Global Growth
Portfolio Service Class
$
3,825
-
14
14
$
ING Templeton
Global Growth
Portfolio Institutional
Class
$
709
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING Money
ING U.S. Stock
Market
Index Portfolio Portfolio Institutional
Class
Class I
$
6,870
$
341,904
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
135
(2,376)
81
1
866
1,082
3
5
1
113
(2,375)
13
17
(49)
69
(52)
(44,242)
12
(785)
(52)
1,030
7,900
(44,242)
(46,617)
295,287
12
29
92
(785)
(716)
418
(2,221)
2
5
2
24
(1)
3
84
113
228
313
$
ING
ING Global Real International
Small Cap
Estate Fund Class A
Fund - Class A
$
63
$
1,134
53
2,506
3,047
(2,168)
3,449
(11,628)
40
(31)
3,449
6,496
14,396
(11,628)
(13,796)
281,491
40
43
135
(31)
82
500
$
$
The accompanying notes are an integral part of these financial statements.
158
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING American
ING American
ING American
Century Small- Century Small- Century SmallMid Cap Value Mid Cap Value Mid Cap Value
Portfolio Portfolio Portfolio - Initial
Adviser Class
Class
Service Class
$
110
$
5
$
44,006
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
1
(12)
198
12
12
3,584
31
4
17
494
494
2,675
6,457
204
230
(5)
(8)
9,529
(6,823)
(44)
(8)
9
119
9,529
10,023
10,028
(6,823)
(366)
43,640
(44)
186
1,419
1
137
192
2
10
816
4,372
711
25
36
3,056
4,009
8,849
13,413
(382)
331
(15)
5,510
397
(1,179)
(15)
21
140
5,510
9,519
19,547
397
13,810
57,450
(1,179)
(848)
571
$
$
The accompanying notes are an integral part of these financial statements.
159
ING Baron
Growth
Portfolio Adviser Class
$
1,233
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING Baron
Growth
Portfolio Service Class
$
121,607
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
ING Columbia
ING Columbia
ING Columbia
Contrarian Core Small Cap Value Small Cap Value
II Portfolio II Portfolio Portfolio Service Class
Adviser Class
Service Class
$
11,915
$
234
$
3,093
(1,054)
(82)
-
(23)
5,569
(213)
-
129
17,045
21,560
1,621
1,326
33
33
301
407
(13,596)
(1,144)
12
(208)
(13,596)
7,964
129,571
(1,144)
182
12,097
12
45
279
(208)
199
3,292
(4)
709
56
1
11,851
857
12
262
37,584
50,144
2,980
3,893
67
80
1,113
1,371
6,320
(1,314)
(89)
595
6,320
56,464
186,035
(1,314)
2,579
14,676
(89)
(9)
270
595
1,966
5,258
$
$
The accompanying notes are an integral part of these financial statements.
160
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING Fidelity®
VIP Mid Cap
Portfolio Service Class
$
7,970
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
ING Global
ING Global
ING Global
Bond Portfolio - Bond Portfolio - Bond Portfolio Adviser Class
Initial Class
Service Class
$
413
$
155,537
$
891
(31)
22
8,003
58
7
2,504
(16)
(192)
926
(1)
28
(218)
10,289
30
72
(4,353)
(53)
(14,428)
338
(4,353)
(3,427)
4,543
(53)
(25)
388
(14,428)
(4,139)
151,398
338
410
1,301
5
1,498
13
10
2,385
(1)
1,021
1,347
(32)
(17)
(11,188)
(7,305)
(65)
(53)
(1,229)
(48)
(30,595)
(293)
(1,229)
118
4,661
(48)
(65)
323
(30,595)
(37,900)
113,498
(293)
(346)
955
1,149
(18)
344
$
$
$
The accompanying notes are an integral part of these financial statements.
161
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING Growth
and Income
Core Portfolio Adviser Class
$
614
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
ING Growth
ING Index
ING Index
and Income
Solution 2015
Solution 2015
Core Portfolio - Portfolio - Initial
Portfolio Initial Class
Class
Service Class
$
75,735
$
11
$
552
(2)
(455)
1
8
(11)
785
5
19
64
51
5,513
5,843
4
10
30
57
(38)
(11,204)
249
178
(38)
13
627
(11,204)
(5,361)
70,374
249
259
270
178
235
787
2
467
7
7
12
11,568
16
57
31
45
(6,709)
5,326
17
40
(3)
61
(672)
(75,700)
321
(262)
(672)
(627)
-
(75,700)
(70,374)
-
321
361
631
(262)
(201)
586
$
$
The accompanying notes are an integral part of these financial statements.
162
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING Index
Solution 2015
Portfolio Service 2 Class
$
798
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
ING Index
ING Index
Solution 2025
Solution 2025
Portfolio Portfolio - Initial
Class
Service Class
$
78
$
49
ING Index
Solution 2025
Portfolio Service 2 Class
$
2,003
8
2
1
13
27
26
2
63
38
73
13
41
5
8
177
253
110
357
30
307
110
183
981
357
398
476
30
38
87
307
560
2,563
14
4
6
27
36
25
19
105
39
89
92
121
54
79
345
477
115
641
935
727
115
204
1,185
641
762
1,238
935
1,014
1,101
727
1,204
3,767
$
$
The accompanying notes are an integral part of these financial statements.
163
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING Index
ING Index
Solution 2035
Solution 2035
Portfolio Portfolio - Initial
Class
Service Class
$
42
$
80
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
ING Index
Solution 2035
Portfolio Service 2 Class
$
1,557
ING Index
Solution 2045
Portfolio - Initial
Class
$
17
1
1
6
-
20
4
60
2
13
34
11
16
155
221
2
4
296
73
37
27
296
330
372
73
89
169
37
258
1,815
27
31
48
2
3
12
1
23
8
85
8
115
140
46
57
315
412
33
42
793
278
349
290
793
933
1,305
278
335
504
349
761
2,576
290
332
380
$
$
The accompanying notes are an integral part of these financial statements.
164
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING Index
Solution 2045
Portfolio Service Class
$
19
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
ING Index
Solution 2045
Portfolio Service 2 Class
$
923
ING Index
ING Index
Solution 2055
Solution 2055
Portfolio Portfolio - Initial
Class
Service Class
$
$
64
-
4
-
(1)
1
32
-
-
3
4
116
152
1
1
12
11
11
233
19
127
11
15
34
233
385
1,308
19
20
20
127
138
202
1
5
-
(1)
5
86
1
26
27
33
232
323
14
15
13
38
298
190
118
6
298
331
365
190
513
1,821
118
133
153
6
44
246
$
$
The accompanying notes are an integral part of these financial statements.
165
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING Index
Solution 2055
Portfolio Service 2 Class
$
53
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
ING Index
ING Index
ING Index
Solution Income Solution Income Solution Income
Portfolio Portfolio Portfolio - Initial
Service 2 Class
Service Class
Class
$
$
645
$
186
(1)
-
12
4
1
-
24
8
9
9
-
15
51
3
15
30
-
437
25
30
39
92
-
437
488
1,133
25
40
226
-
-
26
5
7
-
46
8
26
33
-
(2)
70
2
15
92
10
(370)
18
92
125
217
10
10
10
(370)
(300)
833
18
33
259
$
$
The accompanying notes are an integral part of these financial statements.
166
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING Invesco
Comstock
Portfolio Adviser Class
$
297
ING Invesco
Comstock
Portfolio Service Class
$
46,669
ING Invesco
Equity and
Income
Portfolio Adviser Class
$
649
2
113
9
3,193
(1)
(827)
-
2,051
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
51
52
8,500
7,786
69
78
20,647
25,891
(15)
(5,656)
(15)
(21,897)
(15)
37
334
(5,656)
2,130
48,799
(15)
63
712
(21,897)
3,994
232,827
1
(109)
5
1,037
5
604
11
7,732
108
114
16,385
16,880
146
162
44,611
53,380
(4)
4,149
(63)
(25,897)
(4)
110
444
4,149
21,029
69,828
(63)
99
811
(25,897)
27,483
260,310
$
$
The accompanying notes are an integral part of these financial statements.
167
ING Invesco
Equity and
Income
Portfolio - Initial
Class
$
228,833
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING Invesco
Equity and
Income
Portfolio Service Class
$
229
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
ING JPMorgan ING JPMorgan ING JPMorgan
Mid Cap Value Mid Cap Value Mid Cap Value
Portfolio Portfolio Portfolio - Initial
Adviser Class
Class
Service Class
$
308
$
$
30,683
2
1
7
(68)
2
5
-
258
23
27
52
58
6
13
5,803
5,993
21
(18)
891
3,761
21
48
277
(18)
40
348
891
904
904
3,761
9,754
40,437
-
-
8
30
67
173
2,988
31
61
25
92
544
725
10,591
13,422
(38)
(76)
3,316
6,315
(38)
23
300
(76)
16
364
3,316
4,041
4,945
6,315
19,737
60,174
$
$
The accompanying notes are an integral part of these financial statements.
168
(157)
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING
Oppenheimer
Global
Portfolio Adviser Class
$
515
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
ING
ING
Oppenheimer
Oppenheimer
Global
Global
Portfolio - Initial
Portfolio Class
Service Class
$
498,449
$
638
3
1,615
1
6
7,623
(26)
96
105
87,172
96,410
157
132
(19)
(54,144)
45
(90)
(19)
86
601
(54,144)
42,266
540,715
45
177
815
(90)
97
2,675
4
2,054
2
84
19,950
15
(3)
57
145
112,073
134,077
195
212
(118)
(56)
(137)
(53,733)
34
(624)
(137)
8
609
(53,733)
80,344
621,059
34
246
1,061
(624)
(680)
1,995
$
$
The accompanying notes are an integral part of these financial statements.
169
ING PIMCO
Total Return
Portfolio Adviser Class
$
2,578
69
118
187
65
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING PIMCO
ING PIMCO
Total Return
Total Return
Portfolio Portfolio - Initial
Class
Service Class
$
78
$
232,928
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
ING Pioneer
ING Pioneer
High Yield
High Yield
Portfolio Portfolio - Initial
Class
Service Class
$
19,191
$
393
8
5,206
1,085
21
2
28
533
9
1
11
11,038
16,272
1,311
2,929
29
59
233
6,766
1,256
14
233
244
322
6,766
23,038
255,966
1,256
4,185
23,376
14
73
466
15
5,470
1,156
21
4
4,096
661
5
(27)
(8)
(16,754)
(7,188)
1,202
3,019
31
57
824
(47,551)
9,523
175
824
816
1,138
(47,551)
(54,739)
201,227
9,523
12,542
35,918
175
232
698
$
$
The accompanying notes are an integral part of these financial statements.
170
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING Solution
2015 Portfolio Adviser Class
$
805
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
ING Solution
2015 Portfolio Initial Class
$
-
ING Solution
2015 Portfolio Service Class
$
60,328
30
(2)
1
-
55
86
27
25
5,170
6,451
(17)
1,251
399
(4,569)
(17)
69
874
1,251
1,276
1,276
399
6,850
67,178
(4,569)
(3,330)
10,582
24
50
1,611
250
2
15
427
188
48
74
71
136
3,313
5,351
377
815
(29)
354
(4,826)
(1,253)
(29)
45
919
354
490
1,766
(4,826)
525
67,703
(1,253)
(438)
10,144
$
2,171
394
(890)
$
The accompanying notes are an integral part of these financial statements.
171
ING Solution
2015 Portfolio Service 2 Class
$
13,912
197
648
1,239
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING Solution
2025 Portfolio Adviser Class
$
387
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
ING Solution
2025 Portfolio Initial Class
$
-
ING Solution
2025 Portfolio Service Class
$
92,206
9
(1)
2
-
39
50
16
15
10,876
11,851
1,291
1,930
(10)
506
6,443
(6,006)
(10)
40
427
506
521
521
6,443
18,294
110,500
(6,006)
(4,076)
15,599
7
14
1,767
7
3
54
68
81
98
16,037
17,538
1,280
2,160
13
169
3,388
(2,715)
13
81
508
169
267
788
3,388
20,926
131,426
(2,715)
(555)
15,044
$
1,933
307
(958)
332
225
(266)
$
The accompanying notes are an integral part of these financial statements.
172
ING Solution
2025 Portfolio Service 2 Class
$
19,675
655
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING Solution
2035 Portfolio Adviser Class
$
338
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
ING Solution
2035 Portfolio Initial Class
$
-
ING Solution
2035 Portfolio Service Class
$
76,467
5
(2)
12
-
27
44
49
47
11,044
11,315
1,505
1,956
(116)
1,252
9,167
(3,265)
(116)
(72)
266
1,252
1,299
1,299
9,167
20,482
96,949
(3,265)
(1,309)
15,155
2
25
1,226
19
2
23
44
255
282
18,458
19,682
1,442
2,552
(95)
202
6,441
(3,919)
(95)
(51)
215
202
484
1,783
6,441
26,123
123,072
(3,919)
(1,367)
13,788
$
1,170
214
(899)
237
142
(2)
$
The accompanying notes are an integral part of these financial statements.
173
ING Solution
2035 Portfolio Service 2 Class
$
16,464
968
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING Solution
2045 Portfolio Adviser Class
$
115
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
ING Solution
2045 Portfolio Initial Class
$
-
ING Solution
2045 Portfolio Service Class
$
55,372
2
(1)
646
127
-
6
(726)
141
14
16
29
34
8,414
8,334
1,211
1,479
(14)
769
6,371
(3,316)
(14)
2
117
769
803
803
6,371
14,705
70,077
(3,316)
(1,837)
11,546
2
16
706
71
7
7
234
1,431
15
24
205
228
15,565
16,505
510
2,012
(33)
282
4,116
(5,341)
(33)
(9)
108
282
510
1,313
4,116
20,621
90,698
(5,341)
(3,329)
8,217
$
$
The accompanying notes are an integral part of these financial statements.
174
ING Solution
2045 Portfolio Service 2 Class
$
13,383
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING Solution
2055 Portfolio Initial Class
$
-
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
ING Solution
2055 Portfolio Service Class
$
1,414
ING Solution
2055 Portfolio Service 2 Class
$
259
-
5
1
15
-
21
4
76
-
267
293
32
37
145
236
124
1,677
142
262
124
124
124
1,677
1,970
3,384
142
179
438
262
498
2,273
1
23
2
36
2
366
68
139
26
29
705
1,094
45
115
201
376
2
2,994
130
853
2
31
155
2,994
4,088
7,472
130
245
683
853
1,229
3,502
$
$
The accompanying notes are an integral part of these financial statements.
175
ING Solution
Balanced
Portfolio Service Class
$
1,775
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING Solution
Income
Portfolio Adviser Class
$
303
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
ING Solution
ING Solution
Income
Income
Portfolio - Initial
Portfolio Class
Service Class
$
$
13,757
10
(3)
577
90
4
-
489
11
11
25
33
30
150
1,216
105
206
(71)
1,938
(1,729)
(782)
(71)
(46)
257
1,938
1,968
1,968
(1,729)
(513)
13,244
(782)
(576)
2,070
7
68
417
54
3
10
197
37
6
16
67
145
274
888
12
103
(52)
442
987
(778)
(52)
(36)
221
442
587
2,555
987
1,875
15,119
(778)
(675)
1,395
$
$
The accompanying notes are an integral part of these financial statements.
176
ING Solution
Income
Portfolio Service 2 Class
$
2,646
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING Solution
Moderately
Conservative
Portfolio Service Class
$
3,018
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
ING T. Rowe
ING T. Rowe
ING T. Rowe
Price Diversified Price Diversified Price Diversified
Mid Cap
Mid Cap
Mid Cap
Growth
Growth
Growth
Portfolio Portfolio Portfolio - Initial
Service Class
Class
Adviser Class
$
409
$
309,528
$
580
31
$
(2)
(1,673)
198
39
32,433
139
110
339
24
61
14,326
45,086
(59)
77
213
(5)
(30,311)
(71)
213
552
3,570
(5)
56
465
(30,311)
14,775
324,303
(71)
6
586
78
(1)
(2,669)
(4)
226
86
16,710
38
42
346
46
131
90,956
104,997
172
206
984
(207)
(36,037)
67
984
1,330
4,900
(207)
(76)
389
(36,037)
68,960
393,263
67
273
859
$
$
The accompanying notes are an integral part of these financial statements.
177
(3)
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING T. Rowe
Price Growth
Equity
Portfolio Adviser Class
$
1,139
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
ING T. Rowe
ING T. Rowe
Price Growth
Price Growth
Equity
Equity
Portfolio - Initial
Portfolio Class
Service Class
$
208,716
$
2,053
ING Templeton
Foreign Equity
Portfolio Adviser Class
$
457
(4)
(1,885)
(15)
4
9
7,978
14
2
195
200
30,684
36,777
377
376
78
84
(115)
2,158
300
21
(115)
85
1,224
2,158
38,935
247,651
300
676
2,729
21
105
562
(5)
(2,539)
(18)
51
15,644
159
33
402
448
79,037
92,142
951
1,092
57
94
(111)
(13,754)
74
(117)
(111)
337
1,561
(13,754)
78,388
326,039
74
1,166
3,895
(117)
(23)
539
$
$
The accompanying notes are an integral part of these financial statements.
178
4
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING Templeton ING Templeton
Foreign Equity Foreign Equity
Portfolio Portfolio - Initial
Class
Service Class
$
77,991
$
86
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
ING UBS U.S.
Large Cap
Equity
Portfolio Adviser Class
$
82
ING UBS U.S.
Large Cap
Equity
Portfolio - Initial
Class
$
66,888
597
3
-
(84)
(4,040)
3
2
798
20,041
16,598
34
40
8
10
7,245
7,959
9,664
158
(17)
(7,160)
9,664
26,262
104,253
158
198
284
(17)
(7)
75
(7,160)
799
67,687
537
3
-
153
(1,177)
7
23
16,354
19,663
19,023
49
59
(15)
8
(9,707)
6,800
(8,404)
19
(83)
(74,487)
(8,404)
10,619
114,872
19
78
362
(83)
(75)
-
(74,487)
(67,687)
-
$
$
The accompanying notes are an integral part of these financial statements.
179
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING UBS U.S.
Large Cap
Equity
Portfolio Service Class
$
18
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
ING Strategic
Allocation
Conservative
ING Core
Portfolio Equity Research
Fund - Class A
Class I
$
189
$
31,636
-
1
562
362
-
12
(1,336)
(3,036)
2
2
18
31
4,258
3,484
10,911
8,237
(3)
(30)
(1,882)
(4,856)
(3)
(1)
17
(30)
1
190
(1,882)
1,602
33,238
(4,856)
3,381
64,806
-
-
572
513
3
26
55
(1,906)
(1)
2
17
43
3,067
3,694
(19)
(71)
638
(2,388)
(19)
(17)
-
(71)
(28)
162
638
4,332
37,570
(2,388)
11,255
76,061
$
$
The accompanying notes are an integral part of these financial statements.
180
ING Strategic
Allocation
Growth
Portfolio Class I
$
61,425
15,036
13,643
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING Strategic
Allocation
Moderate
Portfolio Class I
$
57,881
ING Growth
and Income
Portfolio Class A
$
856
ING Growth
and Income
Portfolio Class I
$
1,044,149
ING Growth
and Income
Portfolio Class S
$
7,254
706
8
7,511
64
(2,528)
36
(33,260)
284
8,901
7,079
75
119
172,583
146,834
677
1,025
(3,540)
(190)
(122,469)
(2,158)
(3,540)
3,539
61,420
(190)
(71)
785
(122,469)
24,365
1,068,514
(2,158)
(1,133)
6,121
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
778
$
8
3,035
(1,847)
104
2,547
10,508
9,439
240
352
318,111
323,693
(3,578)
461
(1,081)
(6,436)
(3,578)
5,861
67,281
461
813
1,598
(1,081)
322,612
1,391,126
(6,436)
(5,909)
212
$
$
The accompanying notes are an integral part of these financial statements.
181
(7)
1,198
(664)
527
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING GET U.S.
Core Portfolio Series 11
$
31
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
ING BlackRock
Science and
Technology
Opportunities
Portfolio Adviser Class
$
2
ING BlackRock
Science and
Technology
Opportunities
Portfolio Class I
$
45,758
1
-
(6)
-
3,843
9,376
6
1
-
(376)
3,101
23,089
34,114
(26)
-
(4,364)
(27,752)
(26)
(25)
6
2
(4,364)
(1,263)
44,495
(27,752)
6,362
269,213
-
-
(94)
-
-
5,048
11,741
-
-
(3,069)
1,885
67,358
81,468
(6)
(2)
(46,380)
(25,669)
(6)
(6)
-
(2)
(2)
-
(46,380)
(44,495)
-
(25,669)
55,799
325,012
$
(366)
$
The accompanying notes are an integral part of these financial statements.
182
ING Index Plus
LargeCap
Portfolio Class I
$
262,851
1,649
2,369
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING Index Plus
LargeCap
Portfolio Class S
$
383
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
ING Index Plus
MidCap
Portfolio Class I
$
280,455
5
(40)
(414)
1,115
36
(1,356)
50
50
44,220
45,295
28
65
13,761
11,991
(65)
(26,769)
(67)
(12,550)
(65)
(15)
368
(26,769)
18,526
298,981
(67)
(2)
387
(12,550)
(559)
109,978
4
763
2
18
6,231
9
1,325
71
93
89,396
96,390
115
126
43,693
45,001
(126)
(29,488)
(10)
(98)
(126)
(33)
335
(29,488)
66,902
365,883
(10)
116
503
(98)
44,903
154,881
$
$
The accompanying notes are an integral part of these financial statements.
183
ING Index Plus
SmallCap
Portfolio Class I
$
110,537
1
(5)
$
ING Index Plus
MidCap
Portfolio Class S
$
389
(17)
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING Russell™
Large Cap
ING Index Plus
ING
ING
Growth Index
International
International
SmallCap
Portfolio Index Portfolio - Index Portfolio Portfolio Class S
Class I
Class S
Class I
$
181
$
17,553
$
7
$
5,308
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
(1)
$
347
-
23
39
(1)
296
22
2,629
3,015
1
-
470
770
(27)
24
(2)
2,887
(27)
(5)
176
24
3,039
20,592
(2)
(2)
5
2,887
3,657
8,965
-
301
-
38
8
673
-
735
61
69
3,396
4,370
1
1
1,983
2,756
(9)
1,752
-
318
(9)
60
236
1,752
6,122
26,714
1
6
318
3,074
12,039
$
$
The accompanying notes are an integral part of these financial statements.
184
4
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING Russell™
Large Cap
Growth Index
Portfolio Class S
$
581
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
ING Russell™
Large Cap
ING Russell™
ING Russell™
Value Index
Large Cap
Large Cap
Portfolio Index Portfolio - Index Portfolio Class I
Class S
Class I
$
13,923
$
9
$
184
2
253
-
1
37
614
1
3
35
74
1,409
2,276
2
3
25
29
(70)
7,119
53
42
(70)
4
585
7,119
9,395
23,318
53
56
65
42
71
255
6
181
-
1
9
1,338
3
62
192
207
6,588
8,107
35
38
21
84
164
5,925
118
26
164
371
956
5,925
14,032
37,350
118
156
221
26
110
365
$
$
The accompanying notes are an integral part of these financial statements.
185
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING Russell™
Large Cap
Value Index
Portfolio Class S
$
2,795
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
ING Russell™
Mid Cap
Growth Index
Portfolio Class S
$
5,207
ING Russell™
Mid Cap Index
Portfolio Class I
$
7,784
ING Russell™
Small Cap Index
Portfolio Class I
$
6,728
19
(33)
19
(11)
34
456
769
579
406
459
314
737
1,207
1,995
674
1,242
682
(168)
13,601
4,619
682
1,141
3,936
(168)
569
5,776
13,601
15,596
23,380
4,619
5,861
12,589
24
(15)
131
71
456
541
2,346
1,163
881
1,361
1,487
2,013
7,141
9,618
4,457
5,691
761
724
11,132
5,481
761
2,122
6,058
724
2,737
8,513
11,132
20,750
44,130
5,481
11,172
23,761
$
$
The accompanying notes are an integral part of these financial statements.
186
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING Small
Company
Portfolio Class I
$
116,910
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
ING Small
Company
Portfolio Class S
$
184
(676)
(1)
143
1,073
2,592
11
309
(12,126)
13,370
15,286
15
25
(175)
277
20,937
9,884
(9,675)
(2)
1,806
(11,947)
(9,675)
5,611
122,521
(2)
23
207
1,806
2,083
11,539
(11,947)
(2,063)
59,954
(632)
$
ING
International
ING U.S. Bond
Index Portfolio - Value Portfolio Class I
Class I
$
9,456
$
62,017
-
107
1,145
(5,597)
11,847
22
(15)
32,065
43,280
57
79
(464)
(372)
(10,174)
13
(1,904)
(8,324)
(10,174)
33,106
155,627
13
92
299
(1,904)
(2,276)
9,263
(8,324)
2,914
62,868
$
$
The accompanying notes are an integral part of these financial statements.
187
15,690
11,238
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING
International
Value Portfolio Class S
$
210
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
ING MidCap
Opportunities
Portfolio Class I
$
32,603
ING MidCap
Opportunities
Portfolio Class S
$
2,056
ING SmallCap
Opportunities
Portfolio Class I
$
21,998
(163)
(3)
(210)
4
(15)
1,670
273
2,537
49
38
3,075
4,582
(25)
245
924
3,251
(30)
12,330
(559)
3,495
(30)
8
218
12,330
16,912
49,515
(559)
(314)
1,742
3,495
6,746
28,744
4
(850)
(2)
$
(9)
7,928
360
5,166
38
40
16,439
23,517
67
418
6,273
11,134
(34)
40,460
(759)
1,697
(34)
6
224
40,460
63,977
113,492
(759)
(341)
1,401
1,697
12,831
41,575
$
$
The accompanying notes are an integral part of these financial statements.
188
(305)
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
ING SmallCap
Opportunities
Portfolio Class S
$
86
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
Janus Aspen
Series Balanced
Portfolio Institutional
Shares
$
151
Janus Aspen
Series
Enterprise
Portfolio Institutional
Shares
$
322
-
3
(4)
1
14
11
7
4
(1)
13
5
19
49
52
(1)
4
(19)
4
(9)
(29)
(19)
(6)
80
4
23
174
(9)
43
365
(29)
(25)
40
-
1
(3)
2
10
10
33
1
20
30
13
24
53
83
(2)
1
(2)
(45)
(122)
(3)
(2)
28
108
(45)
(21)
153
(122)
(39)
326
(3)
(2)
38
$
$
The accompanying notes are an integral part of these financial statements.
189
Janus Aspen
Series Flexible
Bond Portfolio Institutional
Shares
$
65
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
Janus Aspen
Series Global
Research
Portfolio Institutional
Shares
$
114
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
Janus Aspen
Series Janus
Portfolio Institutional
Shares
$
57
JPMorgan
Government
Bond Fund Select Class
$
-
-
(1)
-
-
(2)
1
-
-
24
22
9
9
-
-
(1)
4
10
-
(1)
21
135
4
13
70
10
10
10
-
-
-
5
-
1
2
(6)
-
34
35
17
19
(15)
(16)
-
(9)
(11)
248
-
(9)
26
161
(11)
8
78
248
232
242
-
$
$
The accompanying notes are an integral part of these financial statements.
190
Lazard
Emerging
Markets Equity
Portfolio - Open
Shares
$
-
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
Lord Abbett
Loomis Sayles
Lazard U.S. Mid
Developing
Small Cap Value
Cap Equity
Growth Fund Portfolio - Open LKCM Aquinas
Fund - Retail
Class
Class A
Shares
Growth Fund
$
3,793
$
291
$
7,314
$
77
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
(30)
(3)
(9)
(1)
169
3
350
7
13
152
28
28
873
1,214
1
7
1,104
18
2,030
9
1,104
1,256
5,049
18
46
337
2,030
3,244
10,558
9
16
93
(16)
(3)
296
49
1,824
46
936
1,216
40
86
2,154
3,855
36
80
(2,343)
(12)
1,178
86
(2,343)
(1,127)
3,922
(12)
74
411
1,178
5,033
15,591
86
166
259
$
(123)
$
The accompanying notes are an integral part of these financial statements.
191
(2)
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
Lord Abbett
Mid Cap Stock
Fund - Class A
$
1,343
-
(3)
(2)
-
1
(9)
46
2
5
7
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
Lord Abbett
Fundamental
Lord Abbett
SmallCap Value Equity Fund Fund - Class A
Class A
$
1,138
$
45
Lord Abbett
Core Fixed
Income Fund Class A
$
51
$
1
2
178
166
65
109
6
(549)
(61)
106
6
8
59
(549)
(383)
960
(61)
48
1,186
106
113
158
-
(4)
(12)
(1)
-
151
400
43
(2)
(2)
101
248
(8)
380
20
62
(11)
(211)
(116)
44
(11)
(13)
46
(211)
37
997
(116)
264
1,450
44
106
264
$
$
The accompanying notes are an integral part of these financial statements.
192
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
Lord Abbett
Series Fund
MidCap Stock
Portfolio Class VC
$
90,948
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
MainStay Large
Cap Growth
Fund - Class R3
$
-
(238)
$
Massachusetts
Investors
Growth Stock
Fund - Class A
$
428
Metropolitan
West Total
Return Bond
Fund - Class M
Shares
$
-
-
2
-
(3,166)
(3)
85
-
15,274
11,870
7
4
(24)
63
-
(7,284)
420
227
-
(7,284)
4,586
95,534
420
424
424
227
290
718
-
(537)
-
(309)
(1)
15
32
52
19
26,886
26,040
127
159
88
139
(18)
16
(16,890)
54
(197)
3,474
(16,890)
9,150
104,684
54
213
637
(197)
(58)
660
3,474
3,490
3,490
$
$
The accompanying notes are an integral part of these financial statements.
193
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
Neuberger
Berman Socially
Neuberger
Responsive
Berman Genesis
Fund - Trust
Fund - Trust
New Perspective New Perspective
Class
Class
Fund - Class R-3 Fund - Class R-4
$
66
$
10,377
$
3,477
$
67,062
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
(1)
(20)
4
$
1,059
4
7
(143)
896
22
22
29
95
8
291
(3)
(375)
415
420
13,920
13,836
(2,418)
(1,774)
7,115
(2,418)
(1,522)
8,855
(1,774)
(1,354)
2,123
7,115
20,951
88,013
-
21
3
40
13
1,895
349
5,061
32
45
1,684
3,600
177
529
18,214
23,315
58
1,990
(235)
3,626
58
103
198
1,990
5,590
14,445
(235)
294
2,417
3,626
26,941
114,954
$
$
The accompanying notes are an integral part of these financial statements.
194
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
Oppenheimer
Capital
Appreciation
Fund - Class A
$
400
Oppenheimer
Developing
Markets Fund Class A
$
259,497
(1)
(1,661)
203
-
25
(21,847)
49
(6)
28
52
71,592
48,084
2,872
3,124
3
(3)
68
(31,769)
32,251
12
68
120
520
(31,769)
16,315
275,812
32,251
35,375
35,375
12
9
16
(2,576)
6
-
111
(2,983)
684
(3)
(49)
60
24,650
19,091
2,350
3,040
(7)
(10)
(474)
(14,722)
709
(474)
(414)
106
(14,722)
4,369
280,181
709
3,749
39,124
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
(2)
$
$
Oppenheimer
Developing
Markets Fund Class Y
$
-
$
The accompanying notes are an integral part of these financial statements.
195
Oppenheimer
Gold & Special
Minerals Fund Class A
$
7
9
$
9
(1)
15
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
Oppenheimer
International
Bond Fund Class A
$
134
Oppenheimer
Discovery Mid
Cap Growth
Fund/VA
$
11
4
(1)
3
5
-
-
(6)
2
9
13
4
3
43
40
5
12
(19)
27
(21)
(9)
(19)
(6)
128
27
30
41
(21)
19
226
(9)
3
109
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
Oppenheimer
Global Strategic
Income
Oppenheimer
Fund/VA
Global Fund/VA
$
207
$
106
4
(1)
1
4
(2)
2
1
1
(9)
(7)
12
13
55
57
(6)
(1)
20
(8)
(22)
(9)
20
13
141
(8)
5
46
(22)
35
261
(9)
(10)
99
$
$
The accompanying notes are an integral part of these financial statements.
196
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
Oppenheimer
Main Street
Fund®/VA
$
65
Oppenheimer
Main Street
Small Cap
Fund®/VA
$
9,234
-
(39)
9
262
-
139
8
(503)
10
10
1,450
1,550
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
(4)
13
4,925
4,684
61
567
(5,864)
(8)
2
67
61
1,611
10,845
567
580
622
(5,864)
(1,180)
46,306
29
(103)
(12)
2
1,172
413
5,289
17
19
4,192
5,352
414
856
1,581
6,767
(9)
7,302
5,911
(3,659)
(9)
10
77
7,302
12,654
23,499
5,911
6,767
7,389
(3,659)
3,108
49,414
$
$
The accompanying notes are an integral part of these financial statements.
197
Pax World
Balanced Fund Individual
Investor Class
$
47,486
(8)
-
$
Parnassus
Equity Income
Fund - Investor
Shares
$
42
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
PIMCO Real
Return
Portfolio Administrative
Class
$
201,912
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
Pioneer Equity
Income Fund Class Y
$
-
Pioneer High
Yield Fund Class A
$
4,359
Pioneer
Strategic Income
Fund - Class A
$
248
446
15
137
28
15,002
-
575
-
1,463
16,911
3
18
(286)
426
27
55
41,244
1,081
(2,607)
1,216
41,244
58,155
260,067
1,081
1,099
1,099
(2,607)
(2,181)
2,178
1,216
1,271
1,519
1,082
53
87
52
8,483
180
171
32
(31,921)
(22,356)
441
674
(28)
230
(71)
13
(88,953)
2,778
(442)
(175)
(88,953)
(111,309)
148,758
2,778
3,452
4,551
(442)
(212)
1,966
(175)
(162)
1,357
$
$
The accompanying notes are an integral part of these financial statements.
198
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
Pioneer
Emerging
Markets VCT
Portfolio Class I
$
17,672
Pioneer High
Yield VCT
Portfolio Class I
$
23,415
(64)
2,156
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
2,052
$
Columbia
Diversified
Equity Income
Fund - Class K
$
5,931
(361)
Royce Total
Return Fund K Class
$
-
95
-
277
-
(248)
1,740
1,737
3,532
479
851
-
(3,511)
791
486
1
(3,511)
(1,771)
15,901
791
4,323
27,738
486
1,337
7,268
1
1
1
38
1,292
59
-
340
1,754
503
-
(913)
(535)
39
3,085
1,655
2,217
-
(2,429)
87
161
1
(2,429)
(2,964)
12,937
87
3,172
30,910
161
2,378
9,646
1
1
2
$
$
The accompanying notes are an integral part of these financial statements.
199
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
SMALLCAP
World Fund® Class R-4
$
6,672
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
T. Rowe Price
Mid-Cap Value
Fund - R Class
$
625
Templeton
Foreign Fund Class A
$
1,088
37
1
1
17
365
40
10
76
1,034
1,436
74
115
21
32
81
174
(166)
37
21
(88)
(166)
1,270
7,942
37
152
777
21
53
226
(88)
86
1,174
(101)
$
T. Rowe Price
Value Fund Advisor Class
$
173
(3)
-
14
940
120
49
165
1,605
2,444
115
232
30
79
171
350
1,758
(81)
(20)
296
1,758
4,202
12,144
(81)
151
928
(20)
59
285
296
646
1,820
$
$
The accompanying notes are an integral part of these financial statements.
200
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
Templeton
Global Bond
Fund - Advisor
Class
$
-
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
Templeton
Global Bond
Fund - Class A
$
209,387
USAA Precious
Metals and
Minerals Fund Adviser Shares
$
4,823
970
10,420
1
477
9,019
(4)
(1,220)
655
2,102
9,438
28,877
10
7
252
(1,030)
34,933
(33,766)
(28)
4,288
34,933
37,035
37,035
(33,766)
(4,889)
204,498
(28)
(21)
34
4,288
3,258
8,081
1,504
6,215
-
(64)
5
1,853
-
(2,926)
(5,834)
2,234
6
6
(1,813)
(4,803)
2,243
(6,007)
6
3,471
2,243
2,845
39,880
(6,007)
(3,773)
200,725
6
12
46
3,471
(1,332)
6,749
(907)
602
$
Thornburg
International
Value Fund Class R4
$
55
$
$
The accompanying notes are an integral part of these financial statements.
201
(62)
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
Diversified
Value Portfolio
$
82
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
Equity Income
Portfolio
$
351
1
5
(2)
-
(1)
19
1
13
12
42
46
(11)
8
1
(7)
49
(75)
11
(7)
5
87
49
95
446
(75)
(67)
25
11
12
13
1
8
-
-
-
87
9
1
(2)
93
2
11
3
4
(4)
(294)
(13)
3
(4)
20
107
(294)
(201)
245
(13)
(2)
23
3
7
20
$
$
The accompanying notes are an integral part of these financial statements.
202
Victory Small
Company
Opportunity
Fund - Class R
$
1
-
23
24
$
Small Company
Growth
Portfolio
$
92
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
Wanger
International
$
24,628
Wanger Select
$
78,376
149
(338)
3,305
(987)
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
$
Wanger USA
40,134
Washington
Mutual
Investors Fund Class R-3
$
4,465
(239)
60
2,050
(160)
1,857
5,311
14,495
13,170
6,347
8,158
595
495
3,619
(9,239)
7,921
(579)
3,619
8,930
33,558
(9,239)
3,931
82,307
7,921
16,079
56,213
(579)
(84)
4,381
759
(482)
(417)
68
3,854
2,493
6,934
394
3,215
7,828
23,722
25,733
12,172
18,689
730
1,192
4,968
(12,015)
(1,648)
(851)
4,968
12,796
46,354
(12,015)
13,718
96,025
(1,648)
17,041
73,254
(851)
341
4,722
$
$
The accompanying notes are an integral part of these financial statements.
203
$
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Statements of Changes in Net Assets
For the Years Ended December 31, 2013 and 2012
(Dollars in thousands)
Net assets at January 1, 2012
Wells Fargo
Advantage
Washington
Wells Fargo
Special Small
Mutual
Advantage
Cap Value
Investors Fund - Small Cap Value
Class R-4
Fund - Class A
Fund - Class A
$
87,837
$
108
$
89,066
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2012
Increase (decrease) in net assets
Operations:
Net investment income (loss)
Total realized gain (loss) on investments
and capital gains distributions
Net unrealized appreciation (depreciation)
of investments
Net increase (decrease) in net assets resulting from
operations
Changes from principal transactions:
Total unit transactions
Increase (decrease) in net assets derived from
principal transactions
Total increase (decrease) in net assets
Net assets at December 31, 2013
$
1,112
-
(973)
38
7
(2,595)
8,872
10,022
6
13
14,263
10,695
(2,903)
14
(5,678)
(2,903)
7,119
94,956
14
27
135
(5,678)
5,017
94,083
1,410
(1)
(1,021)
3,913
31
7,208
23,143
28,466
(12)
18
26,823
33,010
(4,853)
(38)
(8,528)
(4,853)
23,613
118,569
(38)
(20)
115
(8,528)
24,482
118,565
$
$
The accompanying notes are an integral part of these financial statements.
204
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
1.
Organization
Variable Annuity Account C of ING Life Insurance and Annuity Company (the
“Account”) was established by ING Life Insurance and Annuity Company (“ILIAC” or
the “Company”) to support the operations of variable annuity contracts (“Contracts”). The
Company is an indirect, wholly owned subsidiary of Voya Financial, Inc. (name changed
from ING U.S., Inc.) (“Voya Financial”), a holding company domiciled in the State of
Delaware.
In 2009, ING announced the anticipated separation of its global banking and insurance
businesses, including the divestiture of Voya Financial, which together with its
subsidiaries, including the Company, constitutes ING's U.S.-based retirement, investment
management, and insurance operations. On May 2, 2013, the common stock of Voya
Financial began trading on the New York Stock Exchange under the symbol “VOYA” On
May 7, 2013 and May 31, 2013, Voya Financial completed its initial public offering of
common stock, including the issuance and sale by Voya Financial of 30,769,230 shares of
common stock and the sale by ING Insurance International B.V. (“ING International”), an
indirect, wholly owned subsidiary of ING Groep N.V. (“ING”) and previously the sole
stockholder of Voya Financial, of 44,201,773 shares of outstanding common stock of
Voya Financial (collectively, “the IPO”). On September 30, 2013, ING International
transferred all of its shares of Voya Financial common stock to ING.
On October 29, 2013, ING completed a sale of 37,950,000 shares of common stock of
Voya Financial in a registered public offering (“Secondary Offering”), reducing ING's
ownership of Voya Financial to 57%.
On March 25, 2014, ING completed a sale of 30,475,000 shares of common stock of
Voya Financial in a registered public offering. On March 25, 2014, pursuant to the terms
of a share repurchase agreement between ING and Voya Financial, Voya Financial
acquired 7,255,853 shares of its common stock from ING (the “Direct Share Buyback”)
(the offering and the Direct Share Buyback collectively, the “Transactions”). Upon
completion of the Transactions, ING’s ownership of Voya Financial was reduced to
approximately 43%.
On April 11, 2013, plans to rebrand ING U.S., Inc. as Voya Financial were announced,
and in January 2014, additional details regarding the operational and legal work
associated with the rebranding were announced. On April 7, 2014, ING U.S., Inc.
changed its legal name to Voya Financial, Inc.; and based on current expectations, in May
2014 its Investment Management and Employee Benefits businesses will begin using the
Voya Financial brand. In September 2014, Voya Financial’s remaining businesses will
begin using the Voya Financial brand and all remaining Voya Financial legal entities that
currently have names incorporating the “ING” brand, including the Company, will change
their names to reflect the Voya brand. Voya Financial anticipates that the process of
changing all marketing materials, operating materials and legal entity names containing
the word “ING” or “Lion” to the new brand name will take approximately 24 months.
205
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
The Account is registered as a unit investment trust with the SEC under the Investment
Company Act of 1940, as amended. ILIAC provides for variable accumulation and
benefits under the Contracts by crediting annuity considerations to one or more divisions
within the Account or the fixed account (an investment option in the Company’s general
account), as directed by the contract owners. The portion of the Account’s assets
applicable to Contracts will not be charged with liabilities arising out of any other
business ILIAC may conduct, but obligations of the Account, including the promise to
make benefit payments, are obligations of ILIAC. Under applicable insurance law, the
assets and liabilities of the Account are clearly identified and distinguished from the other
assets and liabilities of ILIAC.
At December 31, 2013, the Account had 303 investment divisions (the “Divisions”), 125
of which invest in independently managed mutual funds and 178 of which invest in
mutual funds managed by affiliates, either ING Investments, LLC (“IIL”) or Directed
Services LLC (“DSL”). The assets in each Division are invested in shares of a designated
fund (“Fund”) of various investment trusts (the “Trusts”). Investment Divisions with asset
balances at December 31, 2013 and related Trusts are as follows:
206
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
AIM Growth Series:
Invesco Mid Cap Core Equity Fund - Class A
Invesco Small Cap Growth Fund - Class A
AIM International Mutual Funds:
Invesco International Growth Fund - Class R5
AIM Investment Funds:
Invesco Endeavor Fund - Class A
Invesco Global Health Care Fund - Investor Class
AIM Sector Funds:
Invesco Small Cap Value Fund - Class A
AIM Variable Insurance Funds:
Invesco V.I. American Franchise Fund Series I Shares
Invesco V.I. Core Equity Fund - Series I Shares
The Alger Funds:
Alger Capital Appreciation Fund - Class A
The Alger Funds II:
Alger Green Fund - Class A
AllianceBernstein Growth and Income Fund, Inc.:
AllianceBernstein Growth and Income Fund, Inc. Class A
AllianceBernstein Variable Products Series Fund, Inc.:
AllianceBernstein Growth and Income
Portfolio - Class A
Allianz Funds:
AllianzGI NFJ Dividend Value Fund - Class A
AllianzGI NFJ Large-Cap Value Fund Institutional Class
AllianzGI NFJ Small-Cap Value Fund - Class A
Amana Mutual Funds Trust:
Amana Growth Fund
Amana Income Fund
American Balanced Fund®, Inc.:
American Balanced Fund® - Class R-3
American Century Government Income Trust:
American Century Inflation-Adjusted Bond
Fund - Investor Class
American Century Quantitative Equity Funds, Inc.:
American Century Income & Growth Fund - A Class
207
American Funds Fundamental Investors:
Fundamental Investors - Class R-3
Fundamental Investors - Class R-4
American Mutual Fund®:
American Funds American Mutual Fund® Class R-4
Ariel Appreciation Fund - Investor Class
Ariel Fund - Investor Class
Artisan Funds, Inc.:
Artisan International Fund - Investor Shares
Aston Funds:
Aston/Fairpointe Mid Cap Fund - Class N
BlackRock Equity Dividend Fund:
BlackRock Equity Dividend Fund - Investor A
Shares
BlackRock Mid Cap Value Opportunities Series, Inc.:
BlackRock Mid Cap Value Opportunities Fund Investor A Shares
Bond Fund of America:
Bond Fund of America - Class R-4
Calvert Variable Series, Inc.:
Calvert VP SRI Balanced Portfolio
Capital World Growth & Income Fund:
Capital World Growth & Income FundSM, Inc. Class R-3
Cohen & Steers Realty Shares, Inc.:
Cohen & Steers Realty Shares
Columbia Acorn Trust:
ColumbiaSM Acorn Fund® - Class A
ColumbiaSM Acorn Fund® - Class Z
Columbia Funds Series Trust:
Columbia Mid Cap Value Fund - Class A
Columbia Mid Cap Value Fund - Class Z
CRM Mutual Fund Trust:
CRM Mid Cap Value Fund - Investor Shares
Delaware Group Adviser Funds:
Delaware Diversified Income Fund - Class A
Delaware Group Equity Funds V:
Delaware Small Cap Value Fund - Class A
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
Dodge & Cox Funds:
Dodge & Cox International Stock Fund
Dodge & Cox Stock Fund
DWS Institutional Funds:
DWS Equity 500 Index Fund - Class S
Eaton Vance Special Investment Trust:
Eaton Vance Large-Cap Value Fund - Class R
EuroPacific Growth Fund®:
EuroPacific Growth Fund® - Class R-3
EuroPacific Growth Fund® - Class R-4
Fidelity® Contrafund®:
Fidelity® Advisor New Insights
Fund - Institutional Class
Fidelity® Variable Insurance Products:
Fidelity® VIP Equity-Income Portfolio - Initial Class
Fidelity® VIP Growth Portfolio - Initial Class
Fidelity® VIP High Income Portfolio - Initial Class
Fidelity® VIP Overseas Portfolio - Initial Class
Fidelity® Variable Insurance Products II:
Fidelity® VIP Contrafund® Portfolio - Initial Class
Fidelity® VIP Index 500 Portfolio - Initial Class
Fidelity® Variable Insurance Products III:
Fidelity® VIP Mid Cap Portfolio - Initial Class
Fidelity® Variable Insurance Products V:
Fidelity® VIP Asset Manager Portfolio - Initial Class
Franklin Mutual Series Fund Inc.:
Mutual Global Discovery Fund - Class R
Franklin Strategic Series:
Franklin Small-Mid Cap Growth Fund - Class A
Franklin Templeton Variable Insurance Products Trust:
Franklin Small Cap Value Securities Fund - Class 2
Growth Fund of America:
Growth Fund of America - Class R-3
Growth Fund of America - Class R-4
Hartford Mutual Funds, Inc.:
The Hartford Capital Appreciation Fund - Class R4
The Hartford Dividend and Growth Fund - Class R4
Income Fund of America:
Income Fund of America - Class R-3
ING Balanced Portfolio, Inc.:
ING Balanced Portfolio - Class I
ING Equity Trust:
ING Growth Opportunities Fund - Class A
ING Large Cap Value Fund - Class A
ING MidCap Opportunities Fund - Class A
ING Real Estate Fund - Class A
ING Funds Trust:
ING GNMA Income Fund - Class A
ING Intermediate Bond Fund - Class A
ING Intermediate Bond Portfolio:
ING Intermediate Bond Portfolio - Class I
ING Intermediate Bond Portfolio - Class S
ING Investors Trust:
ING BlackRock Health Sciences Opportunities
Portfolio - Service Class
ING BlackRock Inflation Protected Bond Portfolio Adviser Class
208
ING Investors Trust (continued):
ING BlackRock Large Cap Growth Portfolio Institutional Class
ING BlackRock Large Cap Growth Portfolio Service Class
ING BlackRock Large Cap Growth Portfolio Service 2 Class
ING Clarion Global Real Estate Portfolio Adviser Class
ING Clarion Global Real Estate Portfolio Institutional Class
ING Clarion Real Estate Portfolio - Adviser Class
ING Clarion Real Estate Portfolio Institutional Class
ING Clarion Real Estate Portfolio - Service Class
ING FMRSM Diversified Mid Cap Portfolio Institutional Class
ING FMRSM Diversified Mid Cap Portfolio - Service
Class
ING FMRSM Diversified Mid Cap Portfolio Service 2 Class
ING Global Resources Portfolio - Adviser Class
ING Global Resources Portfolio - Institutional Class
ING Global Resources Portfolio - Service Class
ING Invesco Growth and Income Portfolio Institutional Class
ING Invesco Growth and Income Portfolio Service Class
ING JPMorgan Emerging Markets Equity Portfolio Adviser Class
ING JPMorgan Emerging Markets Equity Portfolio Institutional Class
ING JPMorgan Emerging Markets Equity Portfolio Service Class
ING JPMorgan Small Cap Core Equity Portfolio Adviser Class
ING JPMorgan Small Cap Core Equity Portfolio Institutional Class
ING JPMorgan Small Cap Core Equity Portfolio Service Class
ING Large Cap Growth Portfolio - Adviser Class
ING Large Cap Growth Portfolio - Institutional Class
ING Large Cap Growth Portfolio - Service Class
ING Large Cap Value Portfolio - Adviser Class
ING Large Cap Value Portfolio - Institutional Class
ING Large Cap Value Portfolio - Service Class
ING Limited Maturity Bond Portfolio - Adviser Class
ING Marsico Growth Portfolio - Institutional Class
ING Marsico Growth Portfolio - Service Class
ING MFS Total Return Portfolio - Adviser Class
ING MFS Total Return Portfolio - Institutional Class
ING MFS Total Return Portfolio - Service Class
ING MFS Utilities Portfolio - Service Class
ING Morgan Stanley Global Franchise Portfolio Adviser Class
ING Multi-Manager Large Cap Core Portfolio Institutional Class
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
ING Investors Trust (continued):
ING Multi-Manager Large Cap Core Portfolio Service Class
ING PIMCO High Yield Portfolio - Adviser Class
ING PIMCO High Yield Portfolio - Institutional Class
ING PIMCO High Yield Portfolio - Service Class
ING T. Rowe Price Capital Appreciation Portfolio Adviser Class
ING T. Rowe Price Capital Appreciation Portfolio Institutional Class
ING T. Rowe Price Capital Appreciation Portfolio Service Class
ING T. Rowe Price Equity Income Portfolio - Adviser
Class
ING T. Rowe Price Equity Income Portfolio - Service
Class
ING T. Rowe Price International Stock Portfolio Adviser Class
ING T. Rowe Price International Stock Portfolio Service Class
ING Templeton Global Growth Portfolio Institutional Class
ING Templeton Global Growth Portfolio - Service
Class
ING U.S. Stock Index Portfolio - Institutional Class
ING Money Market Portfolio:
ING Money Market Portfolio - Class I
ING Mutual Funds:
ING Global Real Estate Fund - Class A
ING International Small Cap Fund - Class A
ING Partners, Inc.:
ING American Century Small-Mid Cap Value
Portfolio - Adviser Class
ING American Century Small-Mid Cap Value
Portfolio - Initial Class
ING American Century Small-Mid Cap Value
Portfolio - Service Class
ING Baron Growth Portfolio - Adviser Class
ING Baron Growth Portfolio - Service Class
ING Columbia Contrarian Core Portfolio - Service
Class
ING Columbia Small Cap Value II Portfolio - Adviser
Class
ING Columbia Small Cap Value II Portfolio - Service
Class
ING Fidelity® VIP Mid Cap Portfolio - Service Class
ING Global Bond Portfolio - Adviser Class
ING Global Bond Portfolio - Initial Class
ING Global Bond Portfolio - Service Class
ING Index Solution 2015 Portfolio - Initial Class
ING Index Solution 2015 Portfolio - Service Class
ING Index Solution 2015 Portfolio - Service 2 Class
ING Index Solution 2025 Portfolio - Initial Class
ING Index Solution 2025 Portfolio - Service Class
ING Index Solution 2025 Portfolio - Service 2 Class
ING Index Solution 2035 Portfolio - Initial Class
209
ING Partners, Inc. (continued):
ING Index Solution 2035 Portfolio - Service Class
ING Index Solution 2035 Portfolio - Service 2 Class
ING Index Solution 2045 Portfolio - Initial Class
ING Index Solution 2045 Portfolio - Service Class
ING Index Solution 2045 Portfolio - Service 2 Class
ING Index Solution 2055 Portfolio - Initial Class
ING Index Solution 2055 Portfolio - Service Class
ING Index Solution 2055 Portfolio - Service 2 Class
ING Index Solution Income Portfolio - Initial Class
ING Index Solution Income Portfolio - Service Class
ING Index Solution Income Portfolio - Service 2 Class
ING Invesco Comstock Portfolio - Adviser Class
ING Invesco Comstock Portfolio - Service Class
ING Invesco Equity and Income Portfolio - Adviser
Class
ING Invesco Equity and Income Portfolio - Initial
Class
ING Invesco Equity and Income Portfolio - Service
Class
ING JPMorgan Mid Cap Value Portfolio - Adviser
Class
ING JPMorgan Mid Cap Value Portfolio - Initial Class
ING JPMorgan Mid Cap Value Portfolio - Service Class
ING Oppenheimer Global Portfolio - Adviser Class
ING Oppenheimer Global Portfolio - Initial Class
ING Oppenheimer Global Portfolio - Service Class
ING PIMCO Total Return Portfolio - Adviser Class
ING PIMCO Total Return Portfolio - Initial Class
ING PIMCO Total Return Portfolio - Service Class
ING Pioneer High Yield Portfolio - Initial Class
ING Pioneer High Yield Portfolio - Service Class
ING Solution 2015 Portfolio - Adviser Class
ING Solution 2015 Portfolio - Initial Class
ING Solution 2015 Portfolio - Service Class
ING Solution 2015 Portfolio - Service 2 Class
ING Solution 2025 Portfolio - Adviser Class
ING Solution 2025 Portfolio - Initial Class
ING Solution 2025 Portfolio - Service Class
ING Solution 2025 Portfolio - Service 2 Class
ING Solution 2035 Portfolio - Adviser Class
ING Solution 2035 Portfolio - Initial Class
ING Solution 2035 Portfolio - Service Class
ING Solution 2035 Portfolio - Service 2 Class
ING Solution 2045 Portfolio - Adviser Class
ING Solution 2045 Portfolio - Initial Class
ING Solution 2045 Portfolio - Service Class
ING Solution 2045 Portfolio - Service 2 Class
ING Solution 2055 Portfolio - Initial Class
ING Solution 2055 Portfolio - Service Class
ING Solution 2055 Portfolio - Service 2 Class
ING Solution Balanced Portfolio - Service Class
ING Solution Income Portfolio - Adviser Class
ING Solution Income Portfolio - Initial Class
ING Solution Income Portfolio - Service Class
ING Solution Income Portfolio - Service 2 Class
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
ING Partners, Inc. (continued):
ING Solution Moderately Conservative
Portfolio - Service Class
ING T. Rowe Price Diversified Mid Cap Growth
Portfolio -Adviser Class
ING T. Rowe Price Diversified Mid Cap Growth
Portfolio - Initial Class
ING T. Rowe Price Diversified Mid Cap Growth
Portfolio - Service Class
ING T. Rowe Price Growth Equity Portfolio Adviser Class
ING T. Rowe Price Growth Equity Portfolio - Initial
Class
ING T. Rowe Price Growth Equity Portfolio - Service
Class
ING Templeton Foreign Equity Portfolio - Adviser
Class
ING Templeton Foreign Equity Portfolio - Initial Class
ING Templeton Foreign Equity Portfolio - Service
Class
ING Series Fund, Inc.:
ING Core Equity Research Fund - Class A
ING Strategic Allocation Portfolios, Inc.:
ING Strategic Allocation Conservative Portfolio Class I
ING Strategic Allocation Growth Portfolio - Class I
ING Strategic Allocation Moderate Portfolio - Class I
ING Variable Funds:
ING Growth and Income Portfolio - Class A
ING Growth and Income Portfolio - Class S
ING Variable Portfolios, Inc.:
ING Index Plus LargeCap Portfolio - Class I
ING Index Plus LargeCap Portfolio - Class S
ING Index Plus MidCap Portfolio - Class I
ING Index Plus MidCap Portfolio - Class S
ING Index Plus SmallCap Portfolio - Class I
ING Index Plus SmallCap Portfolio - Class S
ING International Index Portfolio - Class I
ING International Index Portfolio - Class S
ING Russell™ Large Cap Growth Index Portfolio Class I
ING Russell™ Large Cap Growth Index Portfolio Class S
ING Russell™ Large Cap Index Portfolio - Class I
ING Russell™ Large Cap Index Portfolio - Class S
ING Russell™ Large Cap Value Index Portfolio Class I
ING Russell™ Large Cap Value Index Portfolio Class S
ING Russell™ Mid Cap Growth Index Portfolio Class S
ING Russell™ Mid Cap Index Portfolio - Class I
ING Russell™ Small Cap Index Portfolio - Class I
ING Small Company Portfolio - Class I
ING Small Company Portfolio - Class S
210
ING Variable Portfolios, Inc. (continued):
ING U.S. Bond Index Portfolio - Class I
ING Variable Products Trust:
ING International Value Portfolio - Class I
ING International Value Portfolio - Class S
ING MidCap Opportunities Portfolio - Class I
ING MidCap Opportunities Portfolio - Class S
ING SmallCap Opportunities Portfolio - Class I
ING SmallCap Opportunities Portfolio - Class S
Janus Aspen Series:
Janus Aspen Series Balanced Portfolio Institutional Shares
Janus Aspen Series Enterprise Portfolio Institutional Shares
Janus Aspen Series Flexible Bond Portfolio Institutional Shares Institutional Shares
Janus Aspen Series Global Research Portfolio Institutional Shares
Janus Aspen Series Janus Portfolio - Institutional
Shares
JPMorgan Trust II:
JPMorgan Government Bond Fund - Select Class
Lazard Funds, Inc.:
Lazard Emerging Markets Equity Portfolio - Open
Shares
Lazard U.S. Mid Cap Equity Portfolio - Open Shares
LKCM Funds:
LKCM Aquinas Growth Fund
Loomis Sayles Funds I:
Loomis Sayles Small Cap Value Fund - Retail Class
Lord Abbett Developing Growth Fund, Inc.:
Lord Abbett Developing Growth Fund - Class A
Lord Abbett Investment Trust:
Lord Abbett Core Fixed Income Fund - Class A
Lord Abbett Mid Cap Stock Fund, Inc.:
Lord Abbett Mid Cap Stock Fund - Class A
Lord Abbett Research Fund, Inc.:
Lord Abbett SmallCap Value Fund - Class A
Lord Abbett Securities Trust:
Lord Abbett Fundamental Equity Fund - Class A
Lord Abbett Series Fund, Inc.:
Lord Abbett Series Fund MidCap Stock Portfolio Class VC
MainStay Funds:
MainStay Large Cap Growth Fund - Class R3
Massachusetts Investors Growth Stock Fund:
Massachusetts Investors Growth Stock Fund - Class A
Metropolitan West Funds:
Metropolitan West Total Return Bond Fund Class M Shares
Neuberger Berman Equity Funds®:
Neuberger Berman Genesis Fund - Trust Class
Neuberger Berman Socially Responsive Fund Trust Class
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
New Perspective Fund:
New Perspective Fund - Class R-3
New Perspective Fund - Class R-4
Oppenheimer Capital Appreciation Fund:
Oppenheimer Capital Appreciation Fund - Class A
Oppenheimer Developing Markets Fund:
Oppenheimer Developing Markets Fund - Class A
Oppenheimer Developing Markets Fund - Class Y
Oppenheimer Gold & Special Minerals Fund:
Oppenheimer Gold & Special Minerals Fund - Class A
Oppenheimer International Bond Fund:
Oppenheimer International Bond Fund - Class A
Oppenheimer Variable Account Funds:
Oppenheimer Discovery Mid Cap Growth Fund/VA
Oppenheimer Global Fund/VA
Oppenheimer Global Strategic Income Fund/VA
Oppenheimer Main Street Fund®/VA
Oppenheimer Main Street Small Cap Fund®/VA
Parnassus Income Funds:
Parnassus Equity Income Fund - Investor Shares
Pax World Funds Series Trust I:
Pax World Balanced Fund - Individual Investor Class
PIMCO Variable Insurance Trust:
PIMCO Real Return Portfolio - Administrative Class
Pioneer Equity Income Fund:
Pioneer Equity Income Fund - Class Y
Pioneer High Yield Fund:
Pioneer High Yield Fund - Class A
Pioneer Strategic Income Fund:
Pioneer Strategic Income Fund - Class A
Pioneer Variable Contracts Trust:
Pioneer Emerging Markets VCT Portfolio - Class I
Pioneer High Yield VCT Portfolio - Class I
RiverSource® Investment Series, Inc.:
Columbia Diversified Equity Income Fund - Class K
The Royce Fund:
Royce Total Return Fund - K Class
SmallCap World Fund, Inc.:
SMALLCAP World Fund® - Class R-4
T. Rowe Price Mid-Cap Value Fund, Inc.:
T. Rowe Price Mid-Cap Value Fund - R Class
T. Rowe Price Value Fund, Inc.:
T. Rowe Price Value Fund - Advisor Class
Templeton Funds, Inc.:
Templeton Foreign Fund - Class A
Templeton Income Trust:
Templeton Global Bond Fund - Advisor class
Templeton Global Bond Fund - Class A
Thornburg Investment Trust:
Thornburg International Value Fund - Class R4
USAA Investment Trust:
USAA Precious Metals and Minerals Fund Adviser Shares
Vanguard® Variable Insurance Fund:
Diversified Value Portfolio
Equity Income Portfolio
Small Company Growth Portfolio
The Victory Portfolios:
Victory Small Company Opportunity Fund - Class R
Wanger Advisors Trust:
Wanger International
Wanger Select
Wanger USA
Washington Mutual Investors Fund:
Washington Mutual Investors Fund - Class R-3
Washington Mutual Investors Fund - Class R-4
Wells Fargo Funds Trust:
Wells Fargo Advantage Small Cap Value Fund Class A
Wells Fargo Advantage Special Small Cap Value
Fund - Class A
The names of certain Trusts and Divisions were changed during 2013. The following is a
summary of current and former names for those Trusts and Divisions:
Current Name
AIM Variable Insurance Funds:
Invesco V.I. American Franchise Fund Series I Shares
Allianz Funds:
AllianzGI NFJ Dividend Value Fund - Class A
AllianzGI NFJ Large-Cap Value Fund - Institutional Class
AllianzGI NFJ Small-Cap Value Fund - Class A
ING Investors Trust:
ING Invesco Growth and Income Portfolio Institutional Class
ING Invesco Growth and Income Portfolio Service Class
ING Multi-Manager Large Cap Core
Portfolio - Institutional Class
ING Multi-Manager Large Cap Core Portfolio - Service Class
211
Former Name
Van Kampen Equity Trust II:
Invesco Van Kampen American Franchise Fund Class I Shares
Allianz Funds:
Allianz NFJ Dividend Value Fund - Class A
Allianz NFJ Large-Cap Value Fund - Institutional Class
Allianz NFJ Small-Cap Value Fund - Class A
ING Investors Trust:
ING Invesco Van Kampen Growth and Income Portfolio Institutional Class
ING Invesco Van Kampen Growth and Income
Portfolio - Service Class
ING Pioneer Fund Portfolio - Institutional
Class
ING Pioneer Fund Portfolio - Service Class
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
Current Name
ING Partners, Inc.:
ING Columbia Contrarian Core Portfolio - Service Class
ING Invesco Comstock Portfolio - Adviser Class
ING Invesco Comstock Portfolio - Service Class
ING Invesco Equity and Income Portfolio Adviser Class
ING Invesco Equity and Income Portfolio Initial Class
ING Invesco Equity and Income Portfolio Service Class
ING Solution Balanced Portfolio Service Class
ING Solution Moderately Conservative Portfolio Service Class
Janus Aspen Series:
Janus Aspen Series Global Research Portfolio Institutional Shares
Oppenheimer Variable Account Funds:
Oppenheimer Discovery Mid Cap Growth Fund/VA
Oppenheimer Global Fund/VA
Oppenheimer Main Street Small Cap Fund®/VA
RiverSource® Investment Series, Inc.:
Columbia Diversified Equity Income Fund - Class K
Former Name
ING Partners, Inc.:
ING Davis New York Venture Portfolio - Service Class
ING Invesco Van Kampen Comstock Portfolio - Adviser Class
ING Invesco Van Kampen Comstock Portfolio - Service Class
ING Invesco Van Kampen Equity and Income
Portfolio - Adviser Class
ING Invesco Van Kampen Equity and Income
Portfolio - Initial Class
ING Invesco Van Kampen Equity and Income
Portfolio - Service Class
ING Solution Growth Portfolio Service Class
ING Solution Moderate Portfolio Service Class
Janus Aspen Series:
Janus Aspen Series Worldwide Portfolio Institutional Shares
Oppenheimer Variable Account Funds:
Oppenheimer Small- & Mid-Cap Growth Fund/VA
Oppenheimer Global Securities Fund/VA
Oppenheimer Main Street Small- & Mid-Cap Fund®/VA
RiverSource® Investment Series, Inc.:
Columbia Diversified Equity Income Fund - Class R4
During 2013, the following Divisions were closed to contract owners:
ING Equity Trust:
ING Value Choice Fund - Class A
ING Investors Trust:
ING Pioneer Mid Cap Value Portfolio - Adviser Class
ING Pioneer Mid Cap Value Portfolio - Institutional Class
ING Pioneer Mid Cap Value Portfolio - Service Class
ING Partners, Inc.:
ING Growth and Income Core Portfolio - Adviser Class
ING Growth and Income Core Portfolio - Initial Class
ING UBS U.S. Large Cap Equity Portfolio - Adviser Class
ING UBS U.S. Large Cap Equity Portfolio - Initial Class
ING UBS U.S. Large Cap Equity Portfolio - Service Class
ING Variable Insurance Trust:
ING GET U.S. Core Portfolio - Series 11
ING Variable Portfolios, Inc.:
ING BlackRock Science and Technology Opportunities Portfolio - Adviser Class
ING BlackRock Science and Technology Opportunities Portfolio - Class I
212
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
2.
Significant Accounting Policies
The following is a summary of the significant accounting policies of the Account:
Use of Estimates
The preparation of financial statements in conformity with accounting principles
generally accepted in the United States requires management to make estimates and
assumptions that affect the amounts reported in the financial statements and
accompanying notes. Actual results could differ from reported results using those
estimates.
Investments
Investments are made in shares of a Division and are recorded at fair value, determined
by the net asset value per share of the respective Division. Investment transactions in each
Division are recorded on the trade date. Distributions of net investment income and
capital gains from each Division are recognized on the ex-distribution date. Realized
gains and losses on redemptions of the shares of the Division are determined on a first-in,
first-out basis. The difference between cost and current fair value of investments owned
on the day of measurement is recorded as unrealized appreciation or depreciation of
investments.
Federal Income Taxes
Operations of the Account form a part of, and are taxed with, the total operations of
ILIAC, which is taxed as a life insurance company under the Internal Revenue Code
(“IRC”). Under the current provisions of the IRC, the Company does not expect to incur
federal income taxes on the earnings of the Account to the extent the earnings are credited
to contract owners. Accordingly, earnings and realized capital gains of the Account
attributable to the contract owners are excluded in the determination of the federal
income tax liability of ILIAC, and no charge is being made to the Account for federal
income taxes for these amounts. The Company will review this tax accounting in the
event of changes in the tax law. Such changes in the law may result in a charge for federal
income taxes.
Contract Owner Reserves
The annuity reserves of the Account are represented by net assets on the Statements of
Assets and Liabilities and are equal to the aggregate account values of the contract
owners invested in the Account Divisions. Net assets allocated to contracts in the payout
period are computed according to the industry standard mortality tables. The assumed
investment return is elected by the annuitant and may vary from 3.5% to 5.0%. The
mortality risk is fully borne by the Company. To the extent that benefits to be paid to the
213
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
contract owners exceed their account values, ILIAC will contribute additional funds to
the benefit proceeds. Conversely, if amounts allocated exceed amounts required,
transfers may be made to ILIAC. Prior to the annuity date, the Contracts are redeemable
for the net cash surrender value of the Contracts.
Changes from Principal Transactions
Included in Changes from principal transactions on the Statements of Changes in Net
Assets are items which relate to contract owner activity, including deposits, surrenders
and withdrawals, death benefits, and contract charges. Also included are transfers
between the fixed account and the Divisions, transfers between Divisions, and transfers to
(from) ILIAC related to gains and losses resulting from actual mortality experience (the
full responsibility for which is assumed by ILIAC). Any net unsettled transactions as of
the reporting date are included in Payable to related parties on the Statements of Assets
and Liabilities.
Future Adoption of Accounting Pronouncements
In June 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting
Standards Update (“ASU”) 2013-08, “Financial Services-Investment Companies
(Accounting Standards Codification (“ASC”) Topic 946): Amendments to the Scope,
Measurement, and Disclosure Requirements” (“ASU 2013-08”), which provides
comprehensive guidance for assessing whether an entity is an investment company and
requires an investment company to measure noncontrolling ownership interests in other
investment companies at fair value. ASU 2013-08 also requires an entity to disclose that
it is an investment company and any changes to that status, as well as information about
financial support provided or required to be provided to investees.
The provisions of ASU 2013-08 are effective for interim and annual reporting periods in
years beginning after December 15, 2013, and should be applied prospectively for entities
that are investment companies upon the effective date of the amendments. The Account is
currently in the process of assessing the requirements of ASU 2013-08, but does not
expect ASU 2013-08 to have an impact on its net assets or results of operations.
Subsequent Events
The Account has evaluated subsequent events for recognition and disclosure through the
date the financial statements as of December 31, 2013 and for the years ended
December 31, 2013 and 2012, were issued.
3.
Financial Instruments
The Account invests assets in shares of open-end mutual funds and funds of funds, which
process orders to purchase and redeem shares on a daily basis at the fund's next computed
214
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
net asset values (“NAV”). The fair value of the Account’s assets is based on the NAVs of
mutual funds, which are obtained from the custodian and reflect the fair values of the
mutual fund investments. The NAV is calculated daily upon close of the New York Stock
Exchange and is based on the fair values of the underlying securities.
The Account’s financial assets are recorded at fair value on the Statements of Assets and
Liabilities and are categorized as Level 1 as of December 31, 2013 based on the priority
of the inputs to the valuation technique below. There were no transfers among the levels
for the year ended December 31, 2013. The Account had no financial liabilities as of
December 31, 2013.
The Account categorizes its financial instruments into a three-level hierarchy based on the
priority of the inputs to the valuation technique. The fair value hierarchy gives the highest
priority to quoted prices in active markets for identical assets or liabilities (Level 1) and
the lowest priority to unobservable inputs (Level 3). If the inputs used to measure fair
value fall within different levels of the hierarchy, the category level is based on the lowest
priority level input that is significant to the fair value measurement of the instrument.
ƒ
ƒ
Level 1 - Unadjusted quoted prices for identical assets or liabilities in an active
market. The Account defines an active market as a market in which transactions
take place with sufficient frequency and volume to provide pricing information on
an ongoing basis.
Level 2 - Quoted prices in markets that are not active or inputs that are observable
either directly or indirectly for substantially the full term of the asset or liability.
Level 2 inputs include the following:
a) Quoted prices for similar assets or liabilities in active markets;
b)
ƒ
4.
Quoted prices for identical or similar assets or liabilities in non-active
markets;
c) Inputs other than quoted market prices that are observable; and
d) Inputs that are derived principally from or corroborated by observable market
data through correlation or other means.
Level 3 - Prices or valuation techniques that require inputs that are both
unobservable and significant to the overall fair value measurement. These
valuations, whether derived internally or obtained from a third party, use critical
assumptions that are not widely available to estimate market participant
expectations in valuing the asset or liability.
Charges and Fees
Under the terms of the Contracts, certain charges and fees are incurred by the Contracts to
cover ILIAC’s expenses in connection with the issuance and administration of the
Contracts. Following is a summary of these charges and fees:
215
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
Mortality and Expense Risk Charges
ILIAC assumes mortality and expense risks related to the operations of the Account and,
in accordance with the terms of the Contracts, deducts a daily charge from the assets of
the Account. Daily charges are deducted at annual rates of up to 1.75% of the average
daily net asset value of each Division of the Account to cover these risks, as specified in
the Contracts. These charges are assessed through a reduction in unit values.
Asset Based Administrative Charges
A charge to cover administrative expenses of the Account is deducted at an annual rate of
0.15% of the assets attributable to the Contracts. These charges are assessed through the
redemption of units.
Contract Maintenance Charges
An annual Contract maintenance fee of up to $50 may be deducted from the accumulation
value of Contracts to cover ongoing administrative expenses, as specified in the Contract.
These charges are assessed through the redemption of units.
Contingent Deferred Sales Charges
For certain Contracts, a contingent deferred sales charge (“Surrender Charge”) is imposed
as a percentage that ranges up to 8.5% of each premium payment if the Contract is
surrendered or an excess partial withdrawal is taken, as specified in the Contract. These
charges are assessed through the redemption of units.
Other Contract Charges
Certain Contracts contain optional riders that are available for an additional charge, such
as minimum guaranteed income benefits and minimum guaranteed withdraw benefits.
The amounts charged for these optional benefits vary based on a number of factors and
are defined in the Contracts.
These charges are assessed through either a reduction in unit values or the redemption of
units.
Fees Waived by ILIAC
Certain charges and fees for various types of Contracts may be waived by ILIAC. ILIAC
reserves the right to discontinue these waivers at its discretion or to conform with changes
in the law.
216
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
5.
Related Party Transactions
During the year ended December 31, 2013, management fees were paid to DSL, an
affiliate of the Company, in its capacity as investment adviser to ING Investors Trust and
ING Partners, Inc. The Trusts’ advisory agreements provided for fees at annual rates up to
1.25% of the average net assets of each respective Fund.
Management fees were also paid to IIL, an affiliate of the Company, in its capacity as
investment adviser to the ING Balanced Portfolio, Inc., ING Equity Trust, ING Funds
Trust, ING Intermediate Bond Portfolio, ING Money Market Portfolio, ING Mutual
Funds, ING Series Fund, Inc., ING Strategic Allocation Portfolios, Inc., ING Variable
Funds, ING Variable Insurance Trust, ING Variable Portfolios, Inc., and ING Variable
Products Trust. The Trusts’ advisory agreements provided for fees at annual rates ranging
from 0.11% to 0.98% of the average net assets of each respective Fund.
217
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
6.
Purchases and Sales of Investment Securities
The aggregate cost of purchases and proceeds from sales of investments for the year
ended December 31, 2013 follow:
Purchases
Sales
(Dollars in thousands)
AIM Growth Series:
Invesco Mid Cap Core Equity Fund - Class A
Invesco Small Cap Growth Fund - Class A
AIM International Mutual Funds:
Invesco International Growth Fund - Class R5
AIM Investment Funds:
Invesco Endeavor Fund - Class A
Invesco Global Health Care Fund - Investor Class
AIM Sector Funds:
Invesco Small Cap Value Fund - Class A
AIM Variable Insurance Funds:
Invesco V.I. American Franchise Fund - Series I Shares
Invesco V.I. Core Equity Fund - Series I Shares
The Alger Funds:
Alger Capital Appreciation Fund - Class A
The Alger Funds II:
Alger Green Fund - Class A
AllianceBernstein Growth and Income Fund, Inc.:
AllianceBernstein Growth and Income Fund, Inc. - Class A
AllianceBernstein Variable Products Series Fund, Inc.:
AllianceBernstein Growth and Income Portfolio - Class A
Allianz Funds:
AllianzGI NFJ Dividend Value Fund - Class A
AllianzGI NFJ Large-Cap Value Fund - Institutional Class
AllianzGI NFJ Small-Cap Value Fund - Class A
Amana Mutual Funds Trust:
Amana Growth Fund
Amana Income Fund
American Balanced Fund®, Inc.:
American Balanced Fund® - Class R-3
American Century Government Income Trust:
American Century Inflation-Adjusted Bond Fund - Investor Class
American Century Quantitative Equity Funds, Inc.:
American Century Income & Growth Fund - A Class
American Funds Fundamental Investors:
Fundamental Investors - Class R-3
Fundamental Investors - Class R-4
American Mutual Fund®:
American Funds American Mutual Fund® - Class R-4
Ariel Investment Trust:
Ariel Appreciation Fund - Investor Class
Ariel Fund - Investor Class
218
$
1,074
8
$
1,916
4
180
13
39
124
21
74
127
7
1,980
1,901
3,134
5,586
117
15
2,270
847
22
93
185
140
15
1
141
27
21
27
5,349
11,990
7,424
6,506
912
504
4,650
20,858
2,054
997
588
8,229
243
4,794
804
33
189
7,714
580
2,893
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
Purchases
Sales
(Dollars in thousands)
Artisan Funds, Inc.:
Artisan International Fund - Investor Shares
Aston Funds:
Aston/Fairpointe Mid Cap Fund - Class N
BlackRock Equity Dividend Fund:
$
BlackRock Equity Dividend Fund - Investor A Shares
BlackRock Mid Cap Value Opportunities Series, Inc.:
BlackRock Mid Cap Value Opportunities Fund - Investor A Shares
Bond Fund of America:
Bond Fund of America - Class R-4
Calvert Variable Series, Inc.:
Calvert VP SRI Balanced Portfolio
Capital World Growth & Income Fund:
Capital World Growth & Income FundSM, Inc. - Class R-3
Cohen & Steers Realty Shares, Inc.:
Cohen & Steers Realty Shares
Columbia Acorn Trust:
ColumbiaSM Acorn Fund® - Class A
SM
Columbia Acorn Fund® - Class Z
Columbia Funds Series Trust:
Columbia Mid Cap Value Fund - Class A
Columbia Mid Cap Value Fund - Class Z
CRM Mutual Fund Trust:
CRM Mid Cap Value Fund - Investor Shares
Delaware Group Adviser Funds:
Delaware Diversified Income Fund - Class A
Delaware Group Equity Funds V:
Delaware Small Cap Value Fund - Class A
Dodge & Cox Funds:
Dodge & Cox International Stock Fund
Dodge & Cox Stock Fund
DWS Institutional Funds:
DWS Equity 500 Index Fund - Class S
Eaton Vance Special Investment Trust:
Eaton Vance Large-Cap Value Fund - Class R
EuroPacific Growth Fund®:
EuroPacific Growth Fund® - Class R-3
EuroPacific Growth Fund® - Class R-4
Fidelity® Contrafund®:
Fidelity® Advisor New Insights Fund - Institutional Class
Fidelity® Variable Insurance Products:
Fidelity® VIP Equity-Income Portfolio - Initial Class
Fidelity® VIP Growth Portfolio - Initial Class
Fidelity® VIP High Income Portfolio - Initial Class
Fidelity® VIP Overseas Portfolio - Initial Class
Fidelity® Variable Insurance Products II:
Fidelity® VIP Contrafund® Portfolio - Initial Class
Fidelity® VIP Index 500 Portfolio - Initial Class
219
5,184
$
1,526
23,036
2,074
285
107
8,239
4,724
1,498
2,758
8,507
5,209
128
72
2,299
1,897
16
17
6
-
2,414
-
1,455
-
67
18
1,977
809
110
7
127
112
34
33
79
44
57
49
825
16,349
2,360
20,839
306
124
35,546
5,151
3,127
4,345
38,910
31,702
3,942
5,437
36,158
12,460
115,868
8,101
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
Purchases
Sales
(Dollars in thousands)
Fidelity® Variable Insurance Products III:
Fidelity® VIP Mid Cap Portfolio - Initial Class
Fidelity® Variable Insurance Products V:
Fidelity® VIP Asset Manager Portfolio - Initial Class
Franklin Mutual Series Fund Inc.:
Mutual Global Discovery Fund - Class R
Franklin Strategic Series:
Franklin Small-Mid Cap Growth Fund - Class A
Franklin Templeton Variable Insurance Products Trust:
Franklin Small Cap Value Securities Fund - Class 2
Growth Fund of America:
Growth Fund of America - Class R-3
Growth Fund of America - Class R-4
Hartford Mutual Funds, Inc.:
The Hartford Capital Appreciation Fund - Class R4
The Hartford Dividend And Growth Fund - Class R4
Income Fund of America:
Income Fund of America - Class R-3
ING Balanced Portfolio, Inc.:
ING Balanced Portfolio - Class I
ING Equity Trust:
ING Growth Opportunities Fund - Class A
ING Large Cap Value Fund - Class A
ING MidCap Opportunities Fund - Class A
ING Real Estate Fund - Class A
ING Value Choice Fund - Class A
ING Funds Trust:
ING GNMA Income Fund - Class A
ING Intermediate Bond Fund - Class A
ING Intermediate Bond Portfolio:
ING Intermediate Bond Portfolio - Class I
ING Intermediate Bond Portfolio - Class S
ING Investors Trust:
ING BlackRock Health Sciences Opportunities Portfolio - Service Class
ING BlackRock Inflation Protected Bond Portfolio - Adviser Class
ING BlackRock Large Cap Growth Portfolio - Institutional Class
ING BlackRock Large Cap Growth Portfolio - Service Class
ING BlackRock Large Cap Growth Portfolio - Service 2 Class
ING Clarion Global Real Estate Portfolio - Adviser Class
ING Clarion Global Real Estate Portfolio - Institutional Class
ING Clarion Real Estate Portfolio - Adviser Class
ING Clarion Real Estate Portfolio - Institutional Class
ING Clarion Real Estate Portfolio - Service Class
$
6,170
$
3,006
1,652
3,910
521
733
209
126
14,720
16,350
2,508
34,388
2,040
29,321
188
163
410
491
372
255
10,849
40,429
30
6
2
290
1
2
1
319
5
539
442
957
1,572
23,774
91
71,292
264
14,780
9
4,030
22
5
1
17,810
1
198
4,434
2,432
30
13,551
324
55
1
11,120
4
604
9,031
ING FMRSM Diversified Mid Cap Portfolio - Institutional Class
4,487
5,483
ING FMRSM Diversified Mid Cap Portfolio - Service Class
2,331
7,289
ING FMRSM Diversified Mid Cap Portfolio - Service 2 Class
ING Global Resources Portfolio - Adviser Class
ING Global Resources Portfolio - Institutional Class
ING Global Resources Portfolio - Service Class
23
5,077
1
1
1
20,816
220
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
Purchases
Sales
(Dollars in thousands)
ING Investors Trust (continued):
ING Invesco Growth and Income Portfolio - Institutional Class
ING Invesco Growth and Income Portfolio - Service Class
ING JPMorgan Emerging Markets Equity Portfolio - Adviser Class
ING JPMorgan Emerging Markets Equity Portfolio - Institutional Class
ING JPMorgan Emerging Markets Equity Portfolio - Service Class
ING JPMorgan Small Cap Core Equity Portfolio - Adviser Class
ING JPMorgan Small Cap Core Equity Portfolio - Institutional Class
ING JPMorgan Small Cap Core Equity Portfolio - Service Class
ING Large Cap Growth Portfolio - Adviser Class
ING Large Cap Growth Portfolio - Institutional Class
ING Large Cap Growth Portfolio - Service Class
ING Large Cap Value Portfolio - Adviser Class
ING Large Cap Value Portfolio - Institutional Class
ING Large Cap Value Portfolio - Service Class
ING Limited Maturity Bond Portfolio - Adviser Class
ING Marsico Growth Portfolio - Institutional Class
ING Marsico Growth Portfolio - Service Class
ING MFS Total Return Portfolio - Adviser Class
ING MFS Total Return Portfolio - Institutional Class
ING MFS Total Return Portfolio - Service Class
ING MFS Utilities Portfolio - Service Class
ING Morgan Stanley Global Franchise Portfolio - Adviser Class
ING Multi-Manager Large Cap Core Portfolio - Institutional Class
ING Multi-Manager Large Cap Core Portfolio - Service Class
ING PIMCO High Yield Portfolio - Adviser Class
ING PIMCO High Yield Portfolio - Institutional Class
ING PIMCO High Yield Portfolio - Service Class
ING Pioneer Mid Cap Value Portfolio - Adviser Class
ING Pioneer Mid Cap Value Portfolio - Institutional Class
ING Pioneer Mid Cap Value Portfolio - Service Class
ING T. Rowe Price Capital Appreciation Portfolio - Adviser Class
ING T. Rowe Price Capital Appreciation Portfolio - Institutional Class
ING T. Rowe Price Capital Appreciation Portfolio - Service Class
ING T. Rowe Price Equity Income Portfolio - Adviser Class
ING T. Rowe Price Equity Income Portfolio - Service Class
ING T. Rowe Price International Stock Portfolio - Adviser Class
ING T. Rowe Price International Stock Portfolio - Service Class
ING Templeton Global Growth Portfolio - Institutional Class
ING Templeton Global Growth Portfolio - Service Class
ING U.S. Stock Index Portfolio - Institutional Class
ING Money Market Portfolio:
ING Money Market Portfolio - Class I
ING Mutual Funds:
ING Global Real Estate Fund - Class A
ING International Small Cap Fund - Class A
221
$
4,223
5,783
52
2,704
2,985
8,273
7,476
3
22,074
1,800
27
94,523
570
1
2,452
5
36
5,163
2,518
4,122
4
2,520
37
14
11,556
7,086
1,965
31
149
40,057
79,011
88
8,636
9
796
111
2,100
4,787
$
1,032
3,760
71
8,201
6,691
1,891
1,842
14
18,323
441
35,824
248
2,540
30
312
7,169
3,508
5,330
3,386
47
19
8,949
10,450
27
91,375
474
29
9,077
20,317
359
18,127
5
1,404
334
1,479
835
74,189
87,985
53
105
12
132
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
Purchases
Sales
(Dollars in thousands)
ING Partners, Inc.:
ING American Century Small-Mid Cap Value Portfolio - Adviser Class
ING American Century Small-Mid Cap Value Portfolio - Initial Class
ING American Century Small-Mid Cap Value Portfolio - Service Class
ING Baron Growth Portfolio - Adviser Class
ING Baron Growth Portfolio - Service Class
ING Columbia Contrarian Core Portfolio - Service Class
ING Columbia Small Cap Value II Portfolio - Adviser Class
ING Columbia Small Cap Value II Portfolio - Service Class
ING Fidelity® VIP Mid Cap Portfolio - Service Class
ING Global Bond Portfolio - Adviser Class
ING Global Bond Portfolio - Initial Class
ING Global Bond Portfolio - Service Class
ING Growth and Income Core Portfolio - Adviser Class
ING Growth and Income Core Portfolio - Initial Class
ING Index Solution 2015 Portfolio - Initial Class
ING Index Solution 2015 Portfolio - Service Class
ING Index Solution 2015 Portfolio - Service 2 Class
ING Index Solution 2025 Portfolio - Initial Class
ING Index Solution 2025 Portfolio - Service Class
ING Index Solution 2025 Portfolio - Service 2 Class
ING Index Solution 2035 Portfolio - Initial Class
ING Index Solution 2035 Portfolio - Service Class
ING Index Solution 2035 Portfolio - Service 2 Class
ING Index Solution 2045 Portfolio - Initial Class
ING Index Solution 2045 Portfolio - Service Class
ING Index Solution 2045 Portfolio - Service 2 Class
ING Index Solution 2055 Portfolio - Initial Class
ING Index Solution 2055 Portfolio - Service Class
ING Index Solution 2055 Portfolio - Service 2 Class
ING Index Solution Income Portfolio - Initial Class
ING Index Solution Income Portfolio - Service Class
ING Index Solution Income Portfolio - Service 2 Class
ING Invesco Comstock Portfolio - Adviser Class
ING Invesco Comstock Portfolio - Service Class
ING Invesco Equity and Income Portfolio - Adviser Class
ING Invesco Equity and Income Portfolio - Initial Class
ING Invesco Equity and Income Portfolio - Service Class
ING JPMorgan Mid Cap Value Portfolio - Adviser Class
ING JPMorgan Mid Cap Value Portfolio - Initial Class
ING JPMorgan Mid Cap Value Portfolio - Service Class
ING Oppenheimer Global Portfolio - Adviser Class
ING Oppenheimer Global Portfolio - Initial Class
ING Oppenheimer Global Portfolio - Service Class
ING PIMCO Total Return Portfolio - Adviser Class
ING PIMCO Total Return Portfolio - Initial Class
ING PIMCO Total Return Portfolio - Service Class
ING Pioneer High Yield Portfolio - Initial Class
ING Pioneer High Yield Portfolio - Service Class
222
$
8
7,739
8,526
114
27,689
1,803
15
1,971
7
43
10,155
162
22
860
407
201
252
692
962
964
851
294
564
313
308
448
120
161
117
10
157
34
25
10,559
40
11,345
43
61
3,836
12,975
45
16,160
161
155
996
21,760
15,017
235
$
18
1,582
6,299
1,272
14,552
3,062
104
1,379
1,254
77
35,880
415
692
76,093
66
445
96
25
2
118
37
7
144
16
4
210
1
154
22
458
3
27
6,520
98
36,205
81
126
396
4,999
179
67,839
125
698
153
62,269
4,337
40
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
Purchases
Sales
(Dollars in thousands)
ING Partners, Inc. (continued):
ING Solution 2015 Portfolio - Adviser Class
ING Solution 2015 Portfolio - Initial Class
ING Solution 2015 Portfolio - Service Class
ING Solution 2015 Portfolio - Service 2 Class
ING Solution 2025 Portfolio - Adviser Class
ING Solution 2025 Portfolio - Initial Class
ING Solution 2025 Portfolio - Service Class
ING Solution 2025 Portfolio - Service 2 Class
ING Solution 2035 Portfolio - Adviser Class
ING Solution 2035 Portfolio - Initial Class
ING Solution 2035 Portfolio - Service Class
ING Solution 2035 Portfolio - Service 2 Class
ING Solution 2045 Portfolio - Adviser Class
ING Solution 2045 Portfolio - Initial Class
ING Solution 2045 Portfolio - Service Class
ING Solution 2045 Portfolio - Service 2 Class
ING Solution 2055 Portfolio - Initial Class
ING Solution 2055 Portfolio - Service Class
ING Solution 2055 Portfolio - Service 2 Class
ING Solution Balanced Portfolio - Service Class
ING Solution Income Portfolio - Adviser Class
ING Solution Income Portfolio - Initial Class
ING Solution Income Portfolio - Service Class
ING Solution Income Portfolio - Service 2 Class
ING Solution Moderately Conservative Portfolio - Service Class
ING T. Rowe Price Diversified Mid Cap Growth Portfolio - Adviser Class
ING T. Rowe Price Diversified Mid Cap Growth Portfolio - Initial Class
ING T. Rowe Price Diversified Mid Cap Growth Portfolio - Service Class
ING T. Rowe Price Growth Equity Portfolio - Adviser Class
ING T. Rowe Price Growth Equity Portfolio - Initial Class
ING T. Rowe Price Growth Equity Portfolio - Service Class
ING Templeton Foreign Equity Portfolio - Adviser Class
ING Templeton Foreign Equity Portfolio - Initial Class
ING Templeton Foreign Equity Portfolio - Service Class
ING UBS U.S. Large Cap Equity Portfolio - Adviser Class
ING UBS U.S. Large Cap Equity Portfolio - Initial Class
ING UBS U.S. Large Cap Equity Portfolio - Service Class
ING Series Fund, Inc.:
ING Core Equity Research Fund - Class A
ING Strategic Allocation Portfolios, Inc.:
ING Strategic Allocation Conservative Portfolio - Class I
ING Strategic Allocation Growth Portfolio - Class I
ING Strategic Allocation Moderate Portfolio - Class I
ING Variable Funds:
ING Growth and Income Portfolio - Class A
ING Growth and Income Portfolio - Class I
ING Growth and Income Portfolio - Class S
223
$
27
683
8,689
1,518
69
222
16,141
2,110
4
248
15,818
1,730
2
343
11,557
1,562
5
4,237
591
1,307
8
747
4,347
286
1,785
23
10,789
150
57
15,473
584
26
5,064
62
677
9
$
31
279
11,906
2,521
48
39
10,987
4,600
96
21
8,152
5,508
33
45
6,736
6,831
1,132
450
350
52
237
2,943
1,010
605
225
45,391
77
173
31,766
529
139
12,932
40
83
75,011
27
16
87
6,402
4,808
4,979
5,192
6,683
7,778
714
171,173
132
245
169,219
6,576
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
Purchases
Sales
(Dollars in thousands)
ING Variable Insurance Trust:
ING GET U.S. Core Portfolio - Series 11
ING Variable Portfolios, Inc.:
ING BlackRock Science and Technology Opportunities Portfolio - Adviser Class
ING BlackRock Science and Technology Opportunities Portfolio - Class I
ING Index Plus LargeCap Portfolio - Class I
ING Index Plus LargeCap Portfolio - Class S
ING Index Plus MidCap Portfolio - Class I
ING Index Plus MidCap Portfolio - Class S
ING Index Plus SmallCap Portfolio - Class I
ING Index Plus SmallCap Portfolio - Class S
ING International Index Portfolio - Class I
ING International Index Portfolio - Class S
ING Russell™ Large Cap Growth Index Portfolio - Class I
ING Russell™ Large Cap Growth Index Portfolio - Class S
ING Russell™ Large Cap Index Portfolio - Class I
ING Russell™ Large Cap Index Portfolio - Class S
ING Russell™ Large Cap Value Index Portfolio - Class I
ING Russell™ Large Cap Value Index Portfolio - Class S
ING Russell™ Mid Cap Growth Index Portfolio - Class S
ING Russell™ Mid Cap Index Portfolio - Class I
ING Russell™ Small Cap Index Portfolio - Class I
ING Small Company Portfolio - Class I
ING Small Company Portfolio - Class S
ING U.S. Bond Index Portfolio - Class I
ING Variable Products Trust:
ING International Value Portfolio - Class I
ING International Value Portfolio - Class S
ING MidCap Opportunities Portfolio - Class I
ING MidCap Opportunities Portfolio - Class S
ING SmallCap Opportunities Portfolio - Class I
ING SmallCap Opportunities Portfolio - Class S
Janus Aspen Series:
Janus Aspen Series Balanced Portfolio - Institutional Shares
Janus Aspen Series Enterprise Portfolio - Institutional Shares
Janus Aspen Series Flexible Bond Portfolio - Institutional Shares
Janus Aspen Series Global Research Portfolio - Institutional Shares
Janus Aspen Series Janus Portfolio - Institutional Shares
JPMorgan Trust II:
JPMorgan Government Bond Fund - Select Class
Lazard Funds, Inc.:
Lazard Emerging Markets Equity Portfolio - Open Shares
Lazard U.S. Mid Cap Equity Portfolio - Open Shares
LKCM Funds:
LKCM Aquinas Growth Fund
Loomis Sayles Funds I:
Loomis Sayles Small Cap Value Fund - Retail Class
Lord Abbett Developing Growth Fund, Inc.:
Lord Abbett Developing Growth Fund - Class A
224
$
-
$
6
6,153
12,105
9
11,731
16
13,247
8
5,707
3,234
211
9,303
130
313
2,449
2,086
15,935
8,147
17,317
39
2,663
2
46,737
35,405
132
40,457
23
13,362
16
3,654
2,878
41
3,197
12
284
1,629
1,377
3,733
2,019
17,136
6
4,351
4,480
9
54,477
209
10,909
19
11,658
39
12,423
934
7,454
15
19
20
4
10
2
56
145
3
19
14
555
301
334
2,692
70
50
3,551
1,224
144
17
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
Purchases
Sales
(Dollars in thousands)
Lord Abbett Investment Trust:
Lord Abbett Core Fixed Income Fund - Class A
Lord Abbett Mid Cap Stock Fund, Inc.:
Lord Abbett Mid Cap Stock Fund - Class A
Lord Abbett Research Fund, Inc.:
Lord Abbett SmallCap Value Fund - Class A
Lord Abbett Securities Trust:
Lord Abbett Fundamental Equity Fund - Class A
Lord Abbett Series Fund, Inc.:
Lord Abbett Series Fund MidCap Stock Portfolio - Class VC
MainStay Funds:
MainStay Large Cap Growth Fund - Class R3
Massachusetts Investors Growth Stock Fund:
Massachusetts Investors Growth Stock Fund - Class A
Metropolitan West Funds:
Metropolitan West Total Return Bond Fund - Class M Shares
Neuberger Berman Equity Funds®:
Neuberger Berman Genesis Fund - Trust Class
Neuberger Berman Socially Responsive Fund - Trust Class
New Perspective Fund:
New Perspective Fund - Class R-3
New Perspective Fund - Class R-4
Oppenheimer Capital Appreciation Fund:
Oppenheimer Capital Appreciation Fund - Class A
Oppenheimer Developing Markets Fund:
Oppenheimer Developing Markets Fund - Class A
Oppenheimer Developing Markets Fund - Class Y
Oppenheimer Gold & Special Minerals Fund:
Oppenheimer Gold & Special Minerals Fund - Class A
Oppenheimer International Bond Fund:
Oppenheimer International Bond Fund - Class A
Oppenheimer Variable Account Funds:
Oppenheimer Discovery Mid Cap Growth Fund/VA
Oppenheimer Global Fund/VA
Oppenheimer Global Strategic Income Fund/VA
Oppenheimer Main Street Fund®/VA
Oppenheimer Main Street Small Cap Fund®/VA
Parnassus Income Funds:
Parnassus Equity Income Fund - Investor Shares
Pax World Funds Series Trust I:
Pax World Balanced Fund - Individual Investor Class
PIMCO Variable Insurance Trust:
PIMCO Real Return Portfolio - Administrative Class
Pioneer Equity Income Fund:
Pioneer Equity Income Fund - Class Y
Pioneer High Yield Fund:
Pioneer High Yield Fund - Class A
Pioneer Strategic Income Fund:
Pioneer Strategic Income Fund - Class A
225
$
7
$
19
93
307
459
260
115
35
3,479
20,906
101
17
192
384
3,541
32
74
5,462
3
2,210
496
17,141
618
8,352
17
489
14,484
5,143
30,467
4,240
13
4
46
22
11
8
1
9,523
9
31
13
10
2,045
6,832
578
7,868
6,441
10,823
97,471
3,223
246
439
727
323
427
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
Purchases
Sales
(Dollars in thousands)
Pioneer Variable Contracts Trust:
Pioneer Emerging Markets VCT Portfolio - Class I
Pioneer High Yield VCT Portfolio - Class I
RiverSource® Investment Series, Inc.:
Columbia Diversified Equity Income Fund - Class K
The Royce Fund:
Royce Total Return Fund - K Class
SmallCap World Fund, Inc.:
SMALLCAP World Fund® - Class R-4
T. Rowe Price Mid-Cap Value Fund, Inc.:
T. Rowe Price Mid-Cap Value Fund - R Class
T. Rowe Price Value Fund, Inc.:
T. Rowe Price Value Fund - Advisor Class
Templeton Funds, Inc.:
Templeton Foreign Fund - Class A
Templeton Income Trust:
Templeton Global Bond Fund - Advisor Class
Templeton Global Bond Fund - Class A
Thornburg Investment Trust:
Thornburg International Value Fund - Class R4
USAA Investment Trust:
USAA Precious Metals and Minerals Fund - Adviser Shares
Vanguard® Variable Insurance Fund:
Diversified Value Portfolio
Equity Income Portfolio
Small Company Growth Portfolio
The Victory Portfolios:
Victory Small Company Opportunity Fund - Class R
Wanger Advisors Trust:
Wanger International
Wanger Select
Wanger USA
Washington Mutual Investors Fund:
Washington Mutual Investors Fund - Class R-3
Washington Mutual Investors Fund - Class R-4
Wells Fargo Funds Trust:
Wells Fargo Advantage Small Cap Value Fund - Class A
Wells Fargo Advantage Special Small Cap Value Fund - Class A
226
$
1,280
7,965
$
3,672
4,811
1,891
1,671
1
-
4,276
2,045
180
224
78
83
620
247
11,060
22,018
7,304
21,763
8
1
6,616
3,209
6
42
8
9
329
19
4
-
13,874
4,246
12,942
5,394
15,467
9,205
711
11,016
1,403
12,157
35
10,402
63
12,957
The changes in units outstanding were as follows:
Changes in Units
AIM Growth Series:
Invesco Mid Cap Core Equity Fund - Class A
Invesco Small Cap Growth Fund - Class A
AIM International Mutual Funds:
Invesco International Growth Fund - Class R5
AIM Investment Funds:
Invesco Endeavor Fund - Class A
Invesco Global Health Care Fund - Investor Class
AIM Sector Funds:
Invesco Small Cap Value Fund - Class A
AIM Variable Insurance Funds:
Invesco V.I. American Franchise Fund - Series I Shares
Invesco V.I. Core Equity Fund - Series I Shares
The Alger Funds:
Alger Capital Appreciation Fund - Class A
The Alger Funds II:
Alger Green Fund - Class A
AllianceBernstein Growth and Income Fund, Inc.:
AllianceBernstein Growth and Income Fund, Inc. - Class A
AllianceBernstein Variable Products Series Fund, Inc.:
AllianceBernstein Growth and Income Portfolio - Class A
Allianz Funds:
AllianzGI NFJ Dividend Value Fund - Class A
AllianzGI NFJ Large-Cap Value Fund - Institutional Class
AllianzGI NFJ Small-Cap Value Fund - Class A
Amana Mutual Funds Trust:
Amana Growth Fund
Amana Income Fund
7.
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
1,530
1,153
2,154
5,717
1,734,198
670,658
1,163
62,806
6,157
9,054
1,378
1,867
9,408
896,989
868,633
16,490
2,069
2,564
10,130
1,729,947
381,722
4,512
137,089
1,281
11,302
566
58
11,781
654,147
1,203,871
227
151,512
226
83,840
318
Units
Issued
2013
Units
Redeemed
(242,842)
335,238
(812)
(1,809)
2,373
2,248
(4,876)
74,283
3,349
(4,251)
(288,936)
4,413
916
410
14,960
(67,672)
92
Net Increase
(Decrease)
913,133
1,266,627
7,049
106,748
13,164
10,619
7,899
40,330
36,919
799,175
283,311
9,150
4,940
3,593
2,967
66,280
559
Units
Issued
Year Ended December 31
543,784
623,773
6,821
476,955
14,831
16,211
7,861
27,834
1,507
97,178
681,336
6,811
2,454
3,006
1
123,142
1,231
2012
Units
Redeemed
369,349
642,854
228
(370,207)
(1,667)
(5,592)
38
12,496
35,412
701,997
(398,025)
2,339
2,486
587
2,966
(56,862)
(672)
Net Increase
(Decrease)
American Balanced Fund®, Inc.:
American Balanced Fund® - Class R-3
American Century Government Income Trust:
American Century Inflation-Adjusted Bond Fund - Investor Class
American Century Quantitative Equity Funds, Inc.:
American Century Income & Growth Fund - A Class
American Funds Fundamental Investors:
Fundamental Investors - Class R-3
Fundamental Investors - Class R-4
American Mutual Fund®:
American Funds American Mutual Fund® - Class R-4
Ariel Investment Trust:
Ariel Appreciation Fund - Investor Class
Ariel Fund - Investor Class
Artisan Funds, Inc.:
Artisan International Fund - Investor Shares
Aston Funds:
Aston/Fairpointe Mid Cap Fund - Class N
BlackRock Equity Dividend Fund:
BlackRock Equity Dividend Fund - Investor A Shares
BlackRock Mid Cap Value Opportunities Series, Inc.:
BlackRock Mid Cap Value Opportunities Fund - Investor A Shares
Bond Fund of America:
Bond Fund of America - Class R-4
Calvert Variable Series, Inc.:
Calvert VP SRI Balanced Portfolio
Capital World Growth & Income Fund:
Capital World Growth & Income FundSM, Inc. - Class R-3
Cohen & Steers Realty Shares, Inc.:
Cohen & Steers Realty Shares
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
2,269,235
153,680
81,542
903,222
3,346
33,289
336,975
247,761
351,095
58,257
325,192
360,575
335,888
17,262
210,609
902,333
225,681
108,599
1,095,577
57,093
8,813
649,175
594,877
1,562,486
68,384
464,773
237,156
279,444
19,891
233,746
228
183,185
203,036
Units
Issued
2013
Units
Redeemed
23,137
2,629
(56,444)
(123,419)
139,581
10,127
1,211,391
347,116
(24,476)
312,200
53,747
27,057
192,355
72,001
(1,366,902)
19,851
Net Increase
(Decrease)
210,600
25,871
230,939
348,172
256,602
78,914
360,726
299,147
35,333
180,341
4,912
75,934
815,631
159,852
2,114,698
119,572
Units
Issued
Year Ended December 31
85,135
24,465
311,793
237,042
178,498
44,419
160,630
116,039
31,029
207,774
265
82,680
845,129
130,012
1,465,248
169,481
2012
Units
Redeemed
125,465
1,406
(80,854)
111,130
78,104
34,495
200,096
183,108
4,304
(27,433)
4,647
(6,746)
(29,498)
29,840
649,450
(49,909)
Net Increase
(Decrease)
Columbia Acorn Trust:
ColumbiaSM Acorn Fund® - Class A
ColumbiaSM Acorn Fund® - Class Z
Columbia Funds Series Trust:
Columbia Mid Cap Value Fund - Class A
Columbia Mid Cap Value Fund - Class Z
CRM Mutual Fund Trust:
CRM Mid Cap Value Fund - Investor Shares
Delaware Group Adviser Funds:
Delaware Diversified Income Fund - Class A
Delaware Group Equity Funds V:
Delaware Small Cap Value Fund - Class A
Dodge & Cox Funds:
Dodge & Cox International Stock Fund
Dodge & Cox Stock Fund
DWS Institutional Funds:
DWS Equity 500 Index Fund - Class S
Eaton Vance Special Investment Trust:
Eaton Vance Large-Cap Value Fund - Class R
EuroPacific Growth Fund®:
EuroPacific Growth Fund® - Class R-3
EuroPacific Growth Fund® - Class R-4
Fidelity® Contrafund®:
Fidelity® Advisor New Insights Fund - Institutional Class
Fidelity® Variable Insurance Products:
Fidelity® VIP Equity-Income Portfolio - Initial Class
Fidelity® VIP Growth Portfolio - Initial Class
Fidelity® VIP High Income Portfolio - Initial Class
Fidelity® VIP Overseas Portfolio - Initial Class
Fidelity® Variable Insurance Products II:
Fidelity® VIP Contrafund® Portfolio - Initial Class
Fidelity® VIP Index 500 Portfolio - Initial Class
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
154,176
3,141
100,036
1,104
8,743
3,221
2,434
2,996
261,553
3,144,297
22,922
3,124,046
2,738,405
400,417
509,310
9,394,224
478,807
185,657
6
3,412
212,092
10,165
15,434
7,905
4,110
3,285
176,986
2,933,961
29,292
2,021,516
1,653,429
306,906
449,293
7,664,321
538,590
229
4,527
-
4,132
230
Units
Issued
2013
Units
Redeemed
(1,729,903)
59,783
(1,102,530)
(1,084,976)
(93,511)
(60,017)
6,370
(84,567)
(210,336)
289
1,676
6,691
4,684
9,061
112,056
271
31,481
6
(395)
230
Net Increase
(Decrease)
11,010,210
419,428
2,201,418
1,457,352
340,794
315,220
24,464
209,152
4,855,811
3,671
4,779
14,828
2,471
-
81,372
7,697
90,325
66,661
884
189,532
Units
Issued
Year Ended December 31
12,594,235
510,600
3,749,583
2,378,324
258,609
572,696
12,164
363,364
5,424,908
567
2,638
9,687
2,536
-
2,072
9,026
115,934
623,498
592
1,198,349
2012
Units
Redeemed
(1,584,025)
(91,172)
(1,548,165)
(920,972)
82,185
(257,476)
12,300
(154,212)
(569,097)
3,104
2,141
5,141
(65)
-
79,300
(1,329)
(25,609)
(556,837)
292
(1,008,817)
Net Increase
(Decrease)
Fidelity® Variable Insurance Products III:
Fidelity® VIP Mid Cap Portfolio - Initial Class
Fidelity® Variable Insurance Products V:
Fidelity® VIP Asset Manager Portfolio - Initial Class
Franklin Mutual Series Fund Inc.:
Mutual Global Discovery Fund - Class R
Franklin Strategic Series:
Franklin Small-Mid Cap Growth Fund - Class A
Franklin Templeton Variable Insurance Products Trust:
Franklin Small Cap Value Securities Fund - Class 2
Growth Fund of America:
Growth Fund of America - Class R-3
Growth Fund of America - Class R-4
Hartford Mutual Funds, Inc.:
The Hartford Capital Appreciation Fund - Class R4
The Hartford Dividend And Growth Fund - Class R4
Income Fund of America:
Income Fund of America - Class R-3
ING Balanced Portfolio, Inc.:
ING Balanced Portfolio - Class I
ING Equity Trust:
ING Growth Opportunities Fund - Class A
ING Large Cap Value Fund - Class A
ING MidCap Opportunities Fund - Class A
ING Real Estate Fund - Class A
ING Value Choice Fund - Class A
ING Funds Trust:
ING GNMA Income Fund - Class A
ING Intermediate Bond Fund - Class A
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
177,762
77,653
8,968
1,462,830
375,859
3,697,817
27,338
31,324
59,637
4,442,240
114
111
29,528
309
127,147
164,900
86,980
59,779
8,720
1,303,466
347,973
2,862,204
13,538
10,728
62,175
3,211,209
1,608
491
179
26,058
82,884
80,323
230
221,163
211,954
Units
Issued
2013
Units
Redeemed
(44,263)
(84,577)
1,494
491
68
(3,470)
(309)
(1,231,031)
2,538
(13,800)
(20,596)
(27,886)
(835,613)
(159,364)
(248)
(17,874)
(90,782)
(9,209)
Net Increase
(Decrease)
166,470
94,948
4,583
32,551
375
1,233,165
62,089
21,170
21,290
308,357
4,947,208
1,441,134
8,926
61,145
110,858
217,739
Units
Issued
Year Ended December 31
183,054
120,732
1
54,563
280
2,421,016
86,431
25,254
2,953
625,897
7,430,469
2,262,557
21,873
100,663
135,327
230,305
2012
Units
Redeemed
(16,584)
(25,784)
4,582
(22,012)
95
(1,187,851)
(24,342)
(4,084)
18,337
(317,540)
(2,483,261)
(821,423)
(12,947)
(39,518)
(24,469)
(12,566)
Net Increase
(Decrease)
ING Intermediate Bond Portfolio:
ING Intermediate Bond Portfolio - Class I
ING Intermediate Bond Portfolio - Class S
ING Investors Trust:
ING BlackRock Health Sciences Opportunities Portfolio - Service Class
ING BlackRock Inflation Protected Bond Portfolio - Adviser Class
ING BlackRock Large Cap Growth Portfolio - Institutional Class
ING BlackRock Large Cap Growth Portfolio - Service Class
ING BlackRock Large Cap Growth Portfolio - Service 2 Class
ING Clarion Global Real Estate Portfolio - Adviser Class
ING Clarion Global Real Estate Portfolio - Institutional Class
ING Clarion Real Estate Portfolio - Adviser Class
ING Clarion Real Estate Portfolio - Institutional Class
ING Clarion Real Estate Portfolio - Service Class
ING FMRSM Diversified Mid Cap Portfolio - Institutional Class
ING FMRSM Diversified Mid Cap Portfolio - Service Class
ING FMRSM Diversified Mid Cap Portfolio - Service 2 Class
ING Global Resources Portfolio - Adviser Class
ING Global Resources Portfolio - Institutional Class
ING Global Resources Portfolio - Service Class
ING Invesco Growth and Income Portfolio - Institutional Class
ING Invesco Growth and Income Portfolio - Service Class
ING JPMorgan Emerging Markets Equity Portfolio - Adviser Class
ING JPMorgan Emerging Markets Equity Portfolio - Institutional Class
ING JPMorgan Emerging Markets Equity Portfolio - Service Class
ING JPMorgan Small Cap Core Equity Portfolio - Adviser Class
ING JPMorgan Small Cap Core Equity Portfolio - Institutional Class
ING JPMorgan Small Cap Core Equity Portfolio - Service Class
ING Large Cap Growth Portfolio - Adviser Class
ING Large Cap Growth Portfolio - Institutional Class
ING Large Cap Growth Portfolio - Service Class
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
370,014
2,736
2,606,749
29,081
4,669
156
1,835,075
363
2,145,540
1,320,633
576,823
776,122
109
113
120
3,059,843
120,036
442,851
1,875
659,587
462,214
34
185,979
234,293
1,017
3,279,851
36,065
967,670
491
1,759,860
1,567
198
29
2,025,676
60
2,115,219
956,409
491,978
504,385
2,161
1,722,003
371,617
572,437
587
330,204
268,549
42
660,224
526,210
95
3,507,037
120,498
231
9,141,399
19,297
6,968,979
4,394
Units
Issued
2013
Units
Redeemed
597,656
(2,245)
(846,889)
(27,514)
(4,471)
(127)
190,601
(303)
(30,321)
(364,224)
(84,845)
(271,737)
2,052
(113)
(120)
(1,337,840)
251,581
129,586
(1,288)
(329,383)
(193,665)
8
474,245
291,917
(922)
227,186
84,433
(2,172,420)
(14,903)
Net Increase
(Decrease)
408,408
7,650
1,027,893
49,983
3,185
479
3,539,942
2,207
13,652
2,095,109
2,736,643
2,810,199
1,980,845
659,173
988,600
4,147
451,520
359,741
483
902,124
1,009,525
2,897
8,266,028
20,187
7,006,370
20,006
Units
Issued
Year Ended December 31
326,785
5,922
1,741,253
53,958
3,490
64
2,856,395
374
26,688
2,130,244
81,739
4,313,475
539
63
271
3,391,498
25,169
1,343,357
5,772
535,021
461,748
1
51,066
1,116,369
1,019
5,172,870
20,118
7,422,458
5,224
2012
Units
Redeemed
81,623
1,728
(713,360)
(3,975)
(305)
415
683,547
1,833
(13,036)
(35,135)
2,654,904
(1,503,276)
(539)
(63)
(271)
(1,410,653)
634,004
(354,757)
(1,625)
(83,501)
(102,007)
482
851,058
(106,844)
1,878
3,093,158
69
(416,088)
14,782
Net Increase
(Decrease)
ING Investors Trust (continued):
ING Large Cap Value Portfolio - Adviser Class
ING Large Cap Value Portfolio - Institutional Class
ING Large Cap Value Portfolio - Service Class
ING Limited Maturity Bond Portfolio - Adviser Class
ING Marsico Growth Portfolio - Institutional Class
ING Marsico Growth Portfolio - Service Class
ING MFS Total Return Portfolio - Adviser Class
ING MFS Total Return Portfolio - Institutional Class
ING MFS Total Return Portfolio - Service Class
ING MFS Utilities Portfolio - Service Class
ING Morgan Stanley Global Franchise Portfolio - Adviser Class
ING Multi-Manager Large Cap Core Portfolio - Institutional Class
ING Multi-Manager Large Cap Core Portfolio - Service Class
ING PIMCO High Yield Portfolio - Adviser Class
ING PIMCO High Yield Portfolio - Institutional Class
ING PIMCO High Yield Portfolio - Service Class
ING Pioneer Mid Cap Value Portfolio - Adviser Class
ING Pioneer Mid Cap Value Portfolio - Institutional Class
ING Pioneer Mid Cap Value Portfolio - Service Class
ING T. Rowe Price Capital Appreciation Portfolio - Adviser Class
ING T. Rowe Price Capital Appreciation Portfolio - Institutional Class
ING T. Rowe Price Capital Appreciation Portfolio - Service Class
ING T. Rowe Price Equity Income Portfolio - Adviser Class
ING T. Rowe Price Equity Income Portfolio - Service Class
ING T. Rowe Price International Stock Portfolio - Adviser Class
ING T. Rowe Price International Stock Portfolio - Service Class
ING Templeton Global Growth Portfolio - Institutional Class
ING Templeton Global Growth Portfolio - Service Class
ING U.S. Stock Index Portfolio - Institutional Class
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
232
2,787
18,985,303
60,565
117
275,995
1,200
852
631,862
305,044
428,862
80
333,685
4,428
972
1,160,232
640,889
10,585
3,020,267
6,750,946
4,648
2,094,826
850
100,416
16,346
232,060
335,517
Units
Issued
32
14,205,891
32,103
279,214
3,013
21,324
841,460
378,249
504,933
25
406,680
5,419
1,571
943,616
915,879
2,147
6,796,295
33,823
2,344
1,234,217
5,100,275
23,838
2,299,661
470
140,744
29,739
178,728
67,370
2013
Units
Redeemed
2,755
4,779,412
28,462
117
(3,219)
(1,813)
(20,472)
(209,598)
(73,205)
(76,071)
55
(72,995)
(991)
(599)
216,616
(274,990)
(2,147)
(6,796,295)
(33,823)
8,241
1,786,050
1,650,671
(19,190)
(204,835)
380
(40,328)
(13,393)
53,332
268,147
Net Increase
(Decrease)
3,757,148
29,020
1,673
356,498
13,630
757
451,494
312,779
753,582
1,260
369,480
4,895
4,639
1,853,081
1,966,848
2,186
1,424,831
18,804
3,783
11,430,218
13,216,984
10,765
3,724,306
1,487
142,591
27,243
124,975
122,251
Units
Issued
Year Ended December 31
6,214,442
52,101
5
367,780
53,553
8,339
881,592
420,982
859,544
556,118
7,035
3,090
370,383
1,712,771
39
2,595,391
20,407
1,152
600,387
17,510,563
14,203
4,315,386
956
179,649
28,273
104,939
120,297
2012
Units
Redeemed
(2,457,294)
(23,081)
1,668
(11,282)
(39,923)
(7,582)
(430,098)
(108,203)
(105,962)
1,260
(186,638)
(2,140)
1,549
1,482,698
254,077
2,147
(1,170,560)
(1,603)
2,631
10,829,831
(4,293,579)
(3,438)
(591,080)
531
(37,058)
(1,030)
20,036
1,954
Net Increase
(Decrease)
ING Money Market Portfolio:
ING Money Market Portfolio - Class I
ING Mutual Funds:
ING Global Real Estate Fund - Class A
ING International Small Cap Fund - Class A
ING Partners, Inc.:
ING American Century Small-Mid Cap Value Portfolio - Adviser Class
ING American Century Small-Mid Cap Value Portfolio - Initial Class
ING American Century Small-Mid Cap Value Portfolio - Service Class
ING Baron Growth Portfolio - Adviser Class
ING Baron Growth Portfolio - Service Class
ING Columbia Contrarian Core Portfolio - Service Class
ING Columbia Small Cap Value II Portfolio - Adviser Class
ING Columbia Small Cap Value II Portfolio - Service Class
ING Fidelity® VIP Mid Cap Portfolio - Service Class
ING Global Bond Portfolio - Adviser Class
ING Global Bond Portfolio - Initial Class
ING Global Bond Portfolio - Service Class
ING Growth and Income Core Portfolio - Adviser Class
ING Growth and Income Core Portfolio - Initial Class
ING Index Solution 2015 Portfolio - Initial Class
ING Index Solution 2015 Portfolio - Service Class
ING Index Solution 2015 Portfolio - Service 2 Class
ING Index Solution 2025 Portfolio - Initial Class
ING Index Solution 2025 Portfolio - Service Class
ING Index Solution 2025 Portfolio - Service 2 Class
ING Index Solution 2035 Portfolio - Initial Class
ING Index Solution 2035 Portfolio - Service Class
ING Index Solution 2035 Portfolio - Service 2 Class
ING Index Solution 2045 Portfolio - Initial Class
ING Index Solution 2045 Portfolio - Service Class
ING Index Solution 2045 Portfolio - Service 2 Class
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
4,298
8,686
948
139,063
1,119,439
73,476
2,214,007
219,945
9,045
148,862
106,096
5,226
4,245,650
47,576
56,296
3,251,297
8,890
30,748
12,407
8,243
108
145,909
2,604
486
101,407
1,134
208
82,089
6,408
7,009
146
522,414
1,274,015
5,522
2,734,878
164,859
965
192,863
1,772
1,949
2,102,380
25,212
31,685
13,877
21,269
49,033
58,152
199,431
50,917
17,611
125,092
18,096
17,635
95,152
233
17,246,886
16,787,563
Units
Issued
2013
Units
Redeemed
(802)
383,351
154,576
(67,954)
520,871
(55,086)
(8,080)
44,001
(104,324)
(3,277)
(2,143,270)
(22,364)
(56,296)
(3,251,297)
22,795
(16,871)
8,862
40,790
58,044
53,522
48,313
17,125
23,685
16,962
17,427
13,063
2,110
(1,677)
(459,323)
Net Increase
(Decrease)
519
819,341
1,960,296
2,196
2,878,411
165,045
2,270
123,126
555,082
2,107
2,641,014
73,376
2,098
331,076
18,887
17,022
29,876
55,762
2,528
113,272
36,127
5,887
78,051
2,781
925
71,396
4,521
14,320
12,048,164
Units
Issued
Year Ended December 31
1,047
45,373
2,287,656
5,369
3,521,897
242,395
974
142,152
810,362
5,671
3,622,441
47,659
5,499
851,173
124
3,437
20,722
29,723
84
88,106
15,169
182
75,337
1,021
14
52,330
3,830
68,209
14,604,104
2012
Units
Redeemed
(528)
773,968
(327,360)
(3,173)
(643,486)
(77,350)
1,296
(19,026)
(255,280)
(3,564)
(981,427)
25,717
(3,401)
(520,097)
18,763
13,585
9,154
26,039
2,444
25,166
20,958
5,705
2,714
1,760
911
19,066
691
(53,889)
(2,555,940)
Net Increase
(Decrease)
ING Partners, Inc. (continued):
ING Index Solution 2055 Portfolio - Initial Class
ING Index Solution 2055 Portfolio - Service Class
ING Index Solution 2055 Portfolio - Service 2 Class
ING Index Solution Income Portfolio - Initial Class
ING Index Solution Income Portfolio - Service Class
ING Index Solution Income Portfolio - Service 2 Class
ING Invesco Comstock Portfolio - Adviser Class
ING Invesco Comstock Portfolio - Service Class
ING Invesco Equity and Income Portfolio - Adviser Class
ING Invesco Equity and Income Portfolio - Initial Class
ING Invesco Equity and Income Portfolio - Service Class
ING JPMorgan Mid Cap Value Portfolio - Adviser Class
ING JPMorgan Mid Cap Value Portfolio - Initial Class
ING JPMorgan Mid Cap Value Portfolio - Service Class
ING Oppenheimer Global Portfolio - Adviser Class
ING Oppenheimer Global Portfolio - Initial Class
ING Oppenheimer Global Portfolio - Service Class
ING PIMCO Total Return Portfolio - Adviser Class
ING PIMCO Total Return Portfolio - Initial Class
ING PIMCO Total Return Portfolio - Service Class
ING Pioneer High Yield Portfolio - Initial Class
ING Pioneer High Yield Portfolio - Service Class
ING Solution 2015 Portfolio - Adviser Class
ING Solution 2015 Portfolio - Initial Class
ING Solution 2015 Portfolio - Service Class
ING Solution 2015 Portfolio - Service 2 Class
ING Solution 2025 Portfolio - Adviser Class
ING Solution 2025 Portfolio - Initial Class
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
234
8,386
11,383
14,231
769
5,896
6,930
1,657
1,431,624
2,199
2,614,530
855
2,864
315,751
1,096,748
2,741
4,099,694
8,770
4,853
95,578
5,805,529
2,199,760
36,798
60,603
1,382,690
364,225
1,126
18,783
Units
Issued
90
11,639
7,632
31,963
5,597
1,933
1,118,183
6,498
4,223,656
1,625
7,538
30,476
831,046
11,495
7,003,366
7,016
47,043
20,304
8,834,993
1,662,356
27,818
2,164
26,966
1,732,741
463,007
92
3,494
2013
Units
Redeemed
8,296
(256)
6,599
769
(26,067)
1,333
(276)
313,441
(4,299)
(1,609,126)
(770)
(4,674)
285,275
265,702
(8,754)
(2,903,672)
1,754
(42,190)
75,274
(3,029,464)
537,404
8,980
(2,164)
33,637
(350,051)
(98,782)
1,034
15,289
Net Increase
(Decrease)
1,721
11,769
3,849
32,409
17,815
1,967
446,592
917
1,719,834
1,088
1,289
90,643
576,821
2,291
3,853,300
8,904
8,610
27,947
4,884,316
704,247
23,381
128,792
1,595,848
536,560
753
50,607
Units
Issued
Year Ended December 31
124
1,516
1,303
15,686
3,238
847,723
2,007
3,196,512
606
2,587
1,038
385,377
3,819
7,723,403
6,074
14,681
6,223
4,446,517
627,449
22,583
1,366
4,476
1,556,098
922,271
1,523
292
2012
Units
Redeemed
1,597
10,253
2,546
32,409
2,129
(1,271)
(401,131)
(1,090)
(1,476,678)
482
(1,298)
89,605
191,444
(1,528)
(3,870,103)
2,830
(6,071)
21,724
437,799
76,798
798
(1,366)
124,316
39,750
(385,711)
(770)
50,315
Net Increase
(Decrease)
ING Partners, Inc. (continued):
ING Solution 2025 Portfolio - Service Class
ING Solution 2025 Portfolio - Service 2 Class
ING Solution 2035 Portfolio - Adviser Class
ING Solution 2035 Portfolio - Initial Class
ING Solution 2035 Portfolio - Service Class
ING Solution 2035 Portfolio - Service 2 Class
ING Solution 2045 Portfolio - Adviser Class
ING Solution 2045 Portfolio - Initial Class
ING Solution 2045 Portfolio - Service Class
ING Solution 2045 Portfolio - Service 2 Class
ING Solution 2055 Portfolio - Initial Class
ING Solution 2055 Portfolio - Service Class
ING Solution 2055 Portfolio - Service 2 Class
ING Solution Balanced Portfolio - Service Class
ING Solution Income Portfolio - Adviser Class
ING Solution Income Portfolio - Initial Class
ING Solution Income Portfolio - Service Class
ING Solution Income Portfolio - Service 2 Class
ING Solution Moderately Conservative Portfolio - Service Class
ING T. Rowe Price Diversified Mid Cap Growth Portfolio - Adviser Class
ING T. Rowe Price Diversified Mid Cap Growth Portfolio - Initial Class
ING T. Rowe Price Diversified Mid Cap Growth Portfolio - Service Class
ING T. Rowe Price Growth Equity Portfolio - Adviser Class
ING T. Rowe Price Growth Equity Portfolio - Initial Class
ING T. Rowe Price Growth Equity Portfolio - Service Class
ING Templeton Foreign Equity Portfolio - Adviser Class
ING Templeton Foreign Equity Portfolio - Initial Class
ING Templeton Foreign Equity Portfolio - Service Class
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
235
2,202,535
465,269
56
19,287
1,898,232
484,750
24
28,919
1,367,633
375,592
103
351,621
67,105
117,950
2
62,747
410,224
57,663
149,927
1,280
1,705,718
17,059
4,101
3,038,143
65,685
2,155
2,028,234
2,183
Units
Issued
1,944,229
664,957
7,192
1,589
1,431,133
760,667
2,464
3,722
1,059,776
743,675
18
133,979
57,511
42,045
3,788
21,294
318,071
121,108
63,338
13,228
3,687,087
12,272
10,921
3,251,128
59,736
14,167
2,887,775
548
2013
Units
Redeemed
258,306
(199,688)
(7,136)
17,698
467,099
(275,917)
(2,440)
25,197
307,857
(368,083)
85
217,642
9,594
75,905
(3,786)
41,453
92,153
(63,445)
86,589
(11,948)
(1,981,369)
4,787
(6,820)
(212,985)
5,949
(12,012)
(859,541)
1,635
Net Increase
(Decrease)
2,154,944
683,477
219
124,886
2,207,545
726,263
44
89,495
1,861,735
490,131
9,827
234,581
28,883
69,871
192,980
506,672
85,606
107,191
1,588
2,004,593
14,836
3,373
3,623,596
45,715
6,489
3,997,550
37,814
Units
Issued
Year Ended December 31
1,629,991
1,191,591
10,271
194
1,456,918
1,005,253
1,310
12,562
1,348,567
777,390
93,240
17,479
43,691
5,700
637,329
153,525
86,576
2,024
3,976,514
18,794
12,112
3,346,796
25,790
3,941
2,632,117
21,462
2012
Units
Redeemed
524,953
(508,114)
(10,052)
124,692
750,627
(278,990)
(1,266)
76,933
513,168
(287,259)
9,827
141,341
11,404
26,180
(5,700)
192,980
(130,657)
(67,919)
20,615
(436)
(1,971,921)
(3,958)
(8,739)
276,800
19,925
2,548
1,365,433
16,352
Net Increase
(Decrease)
ING Partners, Inc. (continued):
ING UBS U.S. Large Cap Equity Portfolio - Adviser Class
ING UBS U.S. Large Cap Equity Portfolio - Initial Class
ING UBS U.S. Large Cap Equity Portfolio - Service Class
ING Series Fund, Inc.:
ING Core Equity Research Fund - Class A
ING Strategic Allocation Portfolios, Inc.:
ING Strategic Allocation Conservative Portfolio - Class I
ING Strategic Allocation Growth Portfolio - Class I
ING Strategic Allocation Moderate Portfolio - Class I
ING Variable Funds:
ING Growth and Income Portfolio - Class A
ING Growth and Income Portfolio - Class I
ING Growth and Income Portfolio - Class S
ING Variable Insurance Trust:
ING GET U.S. Core Portfolio - Series 11
ING Variable Portfolios, Inc.:
ING BlackRock Science and Technology Opportunities Portfolio - Adviser Class
ING BlackRock Science and Technology Opportunities Portfolio - Class I
ING Index Plus LargeCap Portfolio - Class I
ING Index Plus LargeCap Portfolio - Class S
ING Index Plus MidCap Portfolio - Class I
ING Index Plus MidCap Portfolio - Class S
ING Index Plus SmallCap Portfolio - Class I
ING Index Plus SmallCap Portfolio - Class S
ING International Index Portfolio - Class I
ING International Index Portfolio - Class S
ING Russell™ Large Cap Growth Index Portfolio - Class I
ING Russell™ Large Cap Growth Index Portfolio - Class S
ING Russell™ Large Cap Index Portfolio - Class I
ING Russell™ Large Cap Index Portfolio - Class S
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
6,458
775,820
783,901
956,915
18,831
10,332,531
535,211
577
195
8,546,523
3,444,120
9,952
3,399,202
1,811
2,574,977
1,263
826,945
5
467,527
2,252
602,168
23,492
2,755
798,223
702,924
760,611
59,211
10,208,654
14,023
2,479,821
273
2,671,717
1,032
2,542,981
501
1,003,360
483,380
10,839
1,096,770
29,852
236
6,988
4,382,582
1,601
-
Units
Issued
2013
Units
Redeemed
(195)
(8,546,523)
(964,299)
(9,679)
(727,485)
(779)
(31,996)
(762)
176,415
(5)
15,853
8,587
494,602
6,360
(577)
40,380
(123,877)
(521,188)
22,403
(80,977)
(196,304)
(3,703)
(6,988)
(4,382,582)
(1,601)
Net Increase
(Decrease)
2,266,985
1,493,118
2,806
2,848,417
3,212
1,021,367
2,033
596,218
10
328,006
36,515
1,422,438
3,677
-
2,095
1,864,713
608,021
462,005
535,864
748,449
5,079
79
298,585
684
Units
Issued
Year Ended December 31
67
3,099,304
2,945,083
8,454
3,864,188
8,325
1,743,724
4,264
593,093
225
148,739
41,596
726,377
331
2,390
19,964
7,232,016
812,449
583,913
828,605
968,717
6,868
1,696
774,879
1,018
2012
Units
Redeemed
(67)
(832,319)
(1,451,965)
(5,648)
(1,015,771)
(5,113)
(722,357)
(2,231)
3,125
(215)
179,267
(5,081)
696,061
3,346
(2,390)
(17,869)
(5,367,303)
(204,428)
(121,908)
(292,741)
(220,268)
(1,789)
(1,617)
(476,294)
(334)
Net Increase
(Decrease)
ING Variable Portfolios, Inc. (continued):
ING Russell™ Large Cap Value Index Portfolio - Class I
ING Russell™ Large Cap Value Index Portfolio - Class S
ING Russell™ Mid Cap Growth Index Portfolio - Class S
ING Russell™ Mid Cap Index Portfolio - Class I
ING Russell™ Small Cap Index Portfolio - Class I
ING Small Company Portfolio - Class I
ING Small Company Portfolio - Class S
ING U.S. Bond Index Portfolio - Class I
ING Variable Products Trust:
ING International Value Portfolio - Class I
ING International Value Portfolio - Class S
ING MidCap Opportunities Portfolio - Class I
ING MidCap Opportunities Portfolio - Class S
ING SmallCap Opportunities Portfolio - Class I
ING SmallCap Opportunities Portfolio - Class S
Janus Aspen Series:
Janus Aspen Series Balanced Portfolio - Institutional Shares
Janus Aspen Series Enterprise Portfolio - Institutional Shares
Janus Aspen Series Flexible Bond Portfolio - Institutional Shares
Janus Aspen Series Global Research Portfolio - Institutional Shares
Janus Aspen Series Janus Portfolio - Institutional Shares
JPMorgan Trust II:
JPMorgan Government Bond Fund - Select Class
Lazard Funds, Inc.:
Lazard Emerging Markets Equity Portfolio - Open Shares
Lazard U.S. Mid Cap Equity Portfolio - Open Shares
LKCM Funds:
LKCM Aquinas Growth Fund
Loomis Sayles Funds I:
Loomis Sayles Small Cap Value Fund - Retail Class
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
2,014,599
3,231
1,146,825
85,607
801,039
840
1,450
3,919
76
806
559
31,099
292,959
4,567
169,689
1,664,318
334
3,543,945
37,234
944,352
723
305
548
55
406
69
55,398
1
60,833
3,665
253,102
237
16,621
131,033
94,174
546,960
314,926
1,544,442
349
502,541
18,301
179,178
127,573
1,380,864
702,634
1,286,764
1,103
341,881
Units
Issued
2013
Units
Redeemed
83,413
(902)
1
(232,126)
24,299
(1,145)
(3,371)
(21)
(400)
(490)
(350,281)
(2,897)
2,397,120
(48,373)
143,313
(117)
1,680
48,145
33,399
833,904
387,708
(257,678)
754
(160,660)
Net Increase
(Decrease)
317,956
3,634
713,029
966
291
1,636
190
826
385
2,501,787
1,704
1,174,727
46,405
777,668
368
4,404
130,689
143,041
2,104,354
731,375
744,340
1,283
676,131
Units
Issued
Year Ended December 31
147,757
1,967
593,589
1
166
2,038
1,208
845
219
3,424,829
4,501
500,342
88,765
483,236
1,547
1,478
81,565
153,238
879,247
329,820
1,078,339
1,431
532,536
2012
Units
Redeemed
170,199
1,667
119,440
965
125
(402)
(1,018)
(19)
166
(923,042)
(2,797)
674,385
(42,360)
294,432
(1,179)
2,926
49,124
(10,197)
1,225,107
401,555
(333,999)
(148)
143,595
Net Increase
(Decrease)
Lord Abbett Developing Growth Fund, Inc.:
Lord Abbett Developing Growth Fund - Class A
Lord Abbett Investment Trust:
Lord Abbett Core Fixed Income Fund - Class A
Lord Abbett Mid Cap Stock Fund, Inc.:
Lord Abbett Mid Cap Stock Fund - Class A
Lord Abbett Research Fund, Inc.:
Lord Abbett SmallCap Value Fund - Class A
Lord Abbett Securities Trust:
Lord Abbett Fundamental Equity Fund - Class A
Lord Abbett Series Fund, Inc.:
Lord Abbett Series Fund MidCap Stock Portfolio - Class VC
MainStay Funds:
MainStay Large Cap Growth Fund - Class R3
Massachusetts Investors Growth Stock Fund:
Massachusetts Investors Growth Stock Fund - Class A
Metropolitan West Funds:
Metropolitan West Total Return Bond Fund - Class M Shares
Neuberger Berman Equity Funds®:
Neuberger Berman Genesis Fund - Trust Class
Neuberger Berman Socially Responsive Fund - Trust Class
New Perspective Fund:
New Perspective Fund - Class R-3
New Perspective Fund - Class R-4
Oppenheimer Capital Appreciation Fund:
Oppenheimer Capital Appreciation Fund - Class A
Oppenheimer Developing Markets Fund:
Oppenheimer Developing Markets Fund - Class A
Oppenheimer Developing Markets Fund - Class Y
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
7,382
25,285
47,371
2,667
2,174,896
1,205
27,089
16,444
6,789
312,026
59,452
952,810
38,472
1,059,680
500,822
6,265
12,129
42,451
5,550
1,291,278
4,351
12,232
374,933
10,586
463,321
47,372
1,143,245
1,018
797,261
573,424
238
3,310
8,023
Units
Issued
2013
Units
Redeemed
(262,419)
72,602
(37,454)
(12,080)
190,435
3,797
151,295
358,489
(14,857)
3,146
(883,618)
2,883
(4,920)
(13,156)
(1,117)
4,713
Net Increase
(Decrease)
1,360,369
3,385,861
48,708
57,483
2,373,994
6,086
249,950
-
41,546
34,696
2,105,814
10,434
4,580
25,682
794
9,570
Units
Issued
Year Ended December 31
1,801,873
137,536
42,937
171,732
1,942,250
4,362
472,913
-
25,747
4,158
2,584,195
1,948
7,532
64,596
256
8,962
2012
Units
Redeemed
(441,504)
3,248,325
5,771
(114,249)
431,744
1,724
(222,963)
-
15,799
30,538
(478,381)
8,486
(2,952)
(38,914)
538
608
Net Increase
(Decrease)
Oppenheimer Gold & Special Minerals Fund:
Oppenheimer Gold & Special Minerals Fund - Class A
Oppenheimer International Bond Fund:
Oppenheimer International Bond Fund - Class A
Oppenheimer Variable Account Funds:
Oppenheimer Discovery Mid Cap Growth Fund/VA
Oppenheimer Global Fund/VA
Oppenheimer Global Strategic Income Fund/VA
Oppenheimer Main Street Fund®/VA
Oppenheimer Main Street Small Cap Fund®/VA
Parnassus Income Funds:
Parnassus Equity Income Fund - Investor Shares
Pax World Funds Series Trust I:
Pax World Balanced Fund - Individual Investor Class
PIMCO Variable Insurance Trust:
PIMCO Real Return Portfolio - Administrative Class
Pioneer Equity Income Fund:
Pioneer Equity Income Fund - Class Y
Pioneer High Yield Fund:
Pioneer High Yield Fund - Class A
Pioneer Strategic Income Fund:
Pioneer Strategic Income Fund - Class A
Pioneer Variable Contracts Trust:
Pioneer Emerging Markets VCT Portfolio - Class I
Pioneer High Yield VCT Portfolio - Class I
RiverSource® Investment Series, Inc.:
Columbia Diversified Equity Income Fund - Class K
The Royce Fund:
Royce Total Return Fund - K Class
SmallCap World Fund, Inc.:
SMALLCAP World Fund® - Class R-4
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
9,752
25,346
1,027
460
24,847
237,022
55,509
743,423
8,263,260
29,298
68,700
35,878
677,040
460,587
19,214
1
302,914
11,470
24,591
292
10
24,090
685,901
543,334
478,588
2,311,845
276,640
43,130
21,734
383,906
467,074
37,307
11
449,256
239
962
2,087
Units
Issued
2013
Units
Redeemed
146,342
10
18,093
(293,134)
6,487
(14,144)
(25,570)
247,342
(5,951,415)
(264,835)
487,825
(755)
(735)
(450)
(757)
448,879
1,718
1,125
Net Increase
(Decrease)
364,129
179
299,485
469,378
514,040
106,789
49,789
113,259
7,939,234
648,309
56,142
3,344
271
23
7
182,436
8,544
2,804
Units
Issued
Year Ended December 31
373,316
90
248,165
887,029
462,880
5,311
219,656
2,560
5,360,948
1,109,169
162
676
1,127
489
819
175,408
10,109
1,955
2012
Units
Redeemed
(9,187)
89
51,320
(417,651)
51,160
101,478
(169,867)
110,699
2,578,286
(460,860)
55,980
2,668
(856)
(466)
(812)
7,028
(1,565)
849
Net Increase
(Decrease)
T. Rowe Price Mid-Cap Value Fund, Inc.:
T. Rowe Price Mid-Cap Value Fund - R Class
T. Rowe Price Value Fund, Inc.:
T. Rowe Price Value Fund - Advisor Class
Templeton Funds, Inc.:
Templeton Foreign Fund - Class A
Templeton Income Trust:
Templeton Global Bond Fund - Advisor Class
Templeton Global Bond Fund - Class A
Thornburg Investment Trust:
Thornburg International Value Fund - Class R4
USAA Investment Trust:
USAA Precious Metals and Minerals Fund - Adviser Shares
Vanguard® Variable Insurance Fund:
Diversified Value Portfolio
Equity Income Portfolio
Small Company Growth Portfolio
The Victory Portfolios:
Victory Small Company Opportunity Fund - Class R
Wanger Advisors Trust:
Wanger International
Wanger Select
Wanger USA
Washington Mutual Investors Fund:
Washington Mutual Investors Fund - Class R-3
Washington Mutual Investors Fund - Class R-4
Wells Fargo Funds Trust:
Wells Fargo Advantage Small Cap Value Fund - Class A
Wells Fargo Advantage Special Small Cap Value Fund - Class A
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
5,706
28,249
834,841
2,221,855
2,872
930,410
445
32,680
1,041
85
866,986
1,221,499
800,037
147,537
1,614,505
4,465
733,586
4,462
45,381
1,033,930
1,873,499
3,353
1,710,752
216
15,975
458
269
1,303,795
580,916
736,330
90,485
1,320,301
1,847
444,058
240
32,951
28,854
Units
Issued
2013
Units
Redeemed
(2,618)
(289,528)
(57,052)
(294,204)
436,809
(640,583)
(63,707)
184
(229)
(16,705)
(583)
780,342
481
199,089
(348,356)
17,132
(1,244)
(4,097)
Net Increase
(Decrease)
2,486
549,994
113,020
1,506,976
1,884,798
1,455,262
2,142,008
926
237
12,746
547
1,020,359
3,459
3,638,576
2,976,521
22,080
5,070
5,500
Units
Issued
Year Ended December 31
1,368
787,628
156,742
1,712,256
1,522,652
2,054,625
1,646,399
120
778
9,368
5,463
509,694
5,895
131,445
4,055,644
29,530
3,279
3,360
2012
Units
Redeemed
1,118
(237,634)
(43,722)
(205,280)
362,146
(599,363)
495,609
806
(541)
3,378
(4,916)
510,665
(2,436)
3,507,131
(1,079,123)
(7,450)
1,791
2,140
Net Increase
(Decrease)
241
to
$18.53
to
$14.54
$12.26
(c)
(c)
3
2
(c)
(c)
$17.86
$14.15
$12.08
$10.24
(d)
(d)
(d)
$21.65
$16.93
$15.49
$16.69
$14.98
18
3
(d)
(d)
(d)
to
to
to
to
to
$22.97
$16.58
$14.15
$14.48
$11.58
$17.35
$13.63
$12.54
$13.57
$12.24
Unit Fair Value
(lowest to highest)
2
2
2
3
3
246
314
371
361
179
Units
(000's)
$
$
$
$
$
$
$
$
$
$
$
$
$
$
63
36
(c)
(c)
217
30
(d)
(d)
(d)
38
26
32
42
31
4,574
4,552
4,891
5,115
2,312
Net Assets
(000's)
(f)
(c)
(c)
(c)
2.43%
(d)
(d)
(d)
(d)
-
0.51%
0.08%
0.16%
Investment
Income
RatioA
0.45%
0.45%
0.15%
0.00%
0.00%
0.00%
0.00%
1.70%
1.70%
1.70%
1.70%
1.60%
to 1.40%
to 1.40%
0.75%
(c)
(c)
0.95%
0.95%
(d)
(d)
(d)
1.00%
1.00%
1.00%
1.00%
1.00%
to
to
to
to
to
Expense RatioB
(lowest to highest)
to
to
to
to
to
28.99%
10.43%
-6.25%
12.54%
29.73%
26.22% to 27.44%
(f)
(c)
(c)
(c)
17.97%
(d)
(d)
(d)
(d)
38.54%
17.17%
-2.28%
25.04%
33.26%
27.06%
8.48%
-7.81%
10.66%
28.13%
Total ReturnC
(lowest to highest)
A summary of unit values, units outstanding, and net assets for variable annuity Contracts, expense ratios, excluding expenses of
underlying funds, investment income ratios, and total return for the years ended December 31, 2013, 2012, 2011, 2010, and 2009,
follows:
Financial Highlights
Invesco Mid Cap Core Equity Fund - Class A
2013
2012
2011
2010
2009
Invesco Small Cap Growth Fund - Class A
2013
2012
2011
2010
2009
Invesco International Growth Fund - Class R5
2013
2012
2011
2010
2009
Invesco Endeavor Fund - Class A
2013
2012
2011
2010
2009
8.
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
Invesco Global Health Care Fund - Investor Class
2013
2012
2011
2010
2009
Invesco Small Cap Value Fund - Class A
2013
2012
2011
2010
2009
Invesco V.I. American Franchise Fund - Series I Shares
2013
2012
2011
2010
2009
Invesco V.I. Core Equity Fund - Series I Shares
2013
2012
2011
2010
2009
Alger Capital Appreciation Fund - Class A
2013
2012
2011
2010
2009
$54.35
$38.71
$32.54
$31.62
$30.63
$25.07
$17.69
$14.69
$16.29
$13.50
$9.77
$11.63
$9.11
$8.08
$8.17
$7.53
$18.13
$13.55
12
8
5
7
6
698
702
(d)
(d)
(d)
2,807
3,096
3,494
3,820
4,159
39
35
(d)
(d)
(d)
to
to
(d)
(d)
(d)
to
to
to
to
to
to
to
(d)
(d)
(d)
$18.75
$13.93
$20.68
$16.08
$14.19
$14.12
$12.96
$50.84
$36.28
$26.95
$18.65
$15.27
$16.68
$59.17
$41.72
$34.72
$33.40
$32.10
242
to
to
to
to
$12.91
to
to
to
to
to
Unit Fair Value
(lowest to highest)
6
6
5
6
5
Units
(000's)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
723
492
(d)
(d)
(d)
40,151
34,682
34,790
38,408
38,603
26,065
19,755
(d)
(d)
(d)
318
141
82
120
72
356
234
176
183
164
Net Assets
(000's)
(d)
(d)
(d)
(d)
1.40%
0.97%
0.97%
0.94%
1.79%
0.42%
(d)
(d)
(d)
(d)
(a)
0.34%
0.49%
0.56%
-
Investment
Income
RatioA
0.25%
0.25%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.20%
0.30%
0.30%
0.30%
0.50%
0.50%
0.50%
0.55%
0.55%
to
to
(d)
(d)
(d)
to
to
to
to
to
to
to
(d)
(d)
(d)
to
to
to
to
0.45%
to
to
to
to
to
1.10%
1.20%
1.95%
1.95%
1.95%
1.95%
1.95%
1.50%
1.50%
1.75%
1.75%
1.75%
1.75%
1.50%
1.50%
1.50%
1.55%
1.60%
Expense RatioB
(lowest to highest)
to 41.83%
to 20.16%
to 3.49%
to 4.05%
to 26.73%
34.20% to 34.60%
(d)
(d)
(d)
(d)
26.73% to 29.22%
11.59% to 13.87%
-2.01%
7.44% to 9.68%
25.79% to 28.38%
38.04% to 40.13%
(d)
(d)
(d)
(d)
41.72% to 43.25%
20.42% to 22.13%
-9.82% to -8.45%
(a)
40.40%
18.96%
3.00%
3.00%
25.43%
Total ReturnC
(lowest to highest)
Alger Green Fund - Class A
2013
2012
2011
2010
2009
AllianceBernstein Growth and Income Fund, Inc. - Class A
2013
2012
2011
2010
2009
AllianceBernstein Growth and Income Portfolio - Class A
2013
2012
2011
2010
2009
AllianzGI NFJ Dividend Value Fund - Class A
2013
2012
2011
2010
2009
AllianzGI NFJ Large-Cap Value Fund - Institutional Class
2013
2012
2011
2010
2009
$17.76
$13.33
$11.48
$10.93
$9.79
$20.05
$15.74
$13.95
$13.67
38
36
41
42
44
12
13
13
19
11
$7.95
$7.78
$6.99
$16.81
$12.65
$10.71
$10.14
$9.07
11
16
16
18
21
2
4
374
234
165
$12.42
$9.35
$8.25
$8.90
$8.26
$20.33
$15.91
$14.03
$13.74
$17.93
$13.44
$11.57
$11.11
$9.92
$17.66
$13.23
$11.32
$10.79
$9.60
$20.99
$15.58
$13.56
$14.36
$13.24
243
$11.85
$9.00
to
$8.19
to
$8.04
to
$7.13
to
to
to
to
$12.21
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
Unit Fair Value
(lowest to highest)
209
135
123
114
91
Units
(000's)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
25
35
3,063
1,879
1,179
246
206
179
258
134
674
476
473
457
434
183
201
172
191
196
4,212
2,030
1,622
1,614
1,064
Net Assets
(000's)
3.33%
2.58%
2.91%
2.62%
3.07%
2.21%
2.60%
2.29%
3.06%
(a)
1.04%
1.69%
1.29%
3.98%
0.52%
1.07%
1.10%
0.52%
1.17%
0.16%
(a)
Investment
Income
RatioA
to
to
to
to
1.00%
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
1.00%
1.00%
1.00%
1.00%
1.25%
1.25%
1.25%
1.25%
1.25%
1.10%
1.10%
1.30%
1.50%
1.55%
1.50%
1.50%
1.50%
1.50%
1.50%
0.80%
0.80%
0.00% to 0.80%
0.00% to 1.25%
0.00% to 1.25%
0.70%
0.70%
0.80%
0.70%
1.15%
1.15%
1.15%
1.00%
1.00%
0.60%
0.60%
0.60%
0.60%
0.60%
0.00%
0.00%
0.00%
0.00%
0.00%
Expense RatioB
(lowest to highest)
to
to
to
to
to
to
to
to
to
to
to
to
to
to
(a)
33.41%
16.16%
5.18%
12.00%
19.52%
33.48%
16.87%
4.91%
12.40%
20.15%
34.72%
14.90%
-5.24%
9.57%
31.67%
13.21%
1.02% to 1.87%
11.30% to 12.76%
14.78% to 16.12%
27.38% to 27.78%
12.83%
2.05%
11.96%
(a)
33.23%
16.11%
5.03%
11.64%
19.39%
32.89%
16.16%
4.18%
11.39%
19.03%
32.75%
13.20%
-6.66%
7.97%
Total ReturnC
(lowest to highest)
AllianzGI NFJ Small-Cap Value Fund - Class A
2013
23
2012
20
2011
22
2010
22
2009
39
Amana Growth Fund
2013
2,537
2012
2,780
2011
2,411
2010
1,503
2009
546
Amana Income Fund
2013
4,314
2012
3,978
2011
3,336
2010
2,466
2009
976
American Balanced Fund® - Class R-3
2013
415
2012
396
2011
446
2010
497
2009
524
American Century Inflation-Adjusted Bond Fund - Investor Class
2013
2,767
2012
4,134
2011
3,484
2010
1,607
2009
846
Units
(000's)
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
$13.97
$11.55
$10.54
$10.90
$9.55
$15.07
$11.79
$10.92
$10.87
$9.83
$16.00
$13.39
$11.95
$11.72
$10.63
$11.41
$12.79
$12.22
$11.02
$10.67
244
$12.46
$13.71
$12.85
$11.37
$10.78
$18.65
$15.37
$13.50
$13.05
$11.58
$19.47
$15.12
$13.94
$13.81
$12.44
$19.22
$15.64
$14.07
$14.33
$12.44
$26.82
$20.50
$18.68
$18.40
$14.77
Unit Fair Value
(lowest to highest)
$24.05
$18.59
$17.13
$17.05
$13.88
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
32,860
54,588
43,588
17,967
9,060
7,353
5,771
5,726
6,178
5,796
72,426
51,965
40,417
29,407
10,356
39,761
35,389
27,822
18,000
5,651
584
400
395
398
563
Net Assets
(000's)
1.18%
2.39%
3.98%
2.49%
(a)
1.39%
1.67%
1.88%
1.82%
2.47%
1.58%
1.71%
1.63%
1.54%
1.23%
0.61%
0.28%
0.10%
0.03%
-
1.22%
1.26%
1.51%
1.04%
2.22%
Investment
Income
RatioA
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.55%
0.55%
0.55%
0.55%
0.60%
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
1.90%
1.90%
1.90%
1.90%
1.65%
1.55%
1.55%
1.55%
1.55%
1.45%
1.65%
1.65%
1.50%
1.55%
1.55%
1.65%
1.65%
1.60%
1.65%
1.50%
1.65%
1.65%
1.65%
1.65%
1.65%
Expense RatioB
(lowest to highest)
to 30.83%
to 9.74%
to 1.52%
to 24.05%
to 23.19%
-10.79%
4.66%
10.89%
3.75%
19.49%
12.05%
1.96%
11.01%
18.97%
21.34%
13.85%
3.45%
12.69%
20.75%
to -9.12%
to 6.69%
to 13.02%
to 5.47%
(a)
to
to
to
to
to
27.55% to 29.71%
-9.31% to 9.67%
0.45% to 1.99%
10.51% to 35.39%
23.52%
20.84% to 22.89%
9.54% to 11.18%
-3.30% to -1.81%
14.12% to 47.13%
32.34%
29.37%
8.52%
0.47%
22.84%
22.70%
Total ReturnC
(lowest to highest)
American Century Income & Growth Fund - A Class
2013
2012
2011
2010
2009
Fundamental Investors - Class R-3
2013
2012
2011
2010
2009
Fundamental Investors - Class R-4
2013
2012
2011
2010
2009
American Funds American Mutual Fund® - Class R-4
2013
2012
2011
2010
2009
Ariel Appreciation Fund - Investor Class
2013
2012
2011
2010
2009
$15.41
$11.52
$10.19
$10.02
$8.89
$12.71
$9.85
$8.57
$8.90
$7.97
$12.97
$10.01
$8.68
$8.98
$8.00
$14.60
$11.58
$10.47
$19.20
$13.38
$11.43
$12.40
$10.58
143
116
123
87
63
3,811
3,619
3,649
3,501
2,700
59
5
1
(c)
(c)
35
59
55
62
55
to
to
to
to
to
to
to
to
(c)
(c)
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
245
$21.84
$15.02
$12.66
$13.61
$11.46
$15.24
$11.74
$10.54
$14.11
$10.73
$9.17
$9.35
$8.20
$13.88
$10.59
$9.06
$9.27
$8.12
$49.43
$36.79
$31.52
$30.99
$27.50
Unit Fair Value
(lowest to highest)
624
552
523
509
523
Units
(000's)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
740
866
679
833
622
888
61
6
(c)
(c)
51,196
37,284
32,351
31,928
21,781
1,936
1,203
1,093
793
505
9,649
6,374
5,331
5,100
4,656
Net Assets
(000's)
0.75%
0.91%
0.40%
0.20%
1.90%
2.99%
(c)
(c)
(c)
1.37%
1.30%
1.71%
1.44%
1.62%
1.15%
1.05%
1.48%
1.08%
0.77%
2.07%
1.95%
1.36%
1.15%
1.84%
Investment
Income
RatioA
0.60%
0.60%
0.60%
0.75%
0.75%
0.00%
0.75%
0.75%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.25%
0.75%
0.75%
to
to
to
to
to
to
to
to
(c)
(c)
to
to
to
to
to
to
to
to
to
to
1.90%
1.90%
1.90%
2.10%
2.10%
1.40%
1.40%
1.40%
1.50%
1.50%
1.50%
1.50%
1.50%
1.55%
1.55%
1.55%
1.55%
1.40%
to 1.20%
to 1.10%
1.00%
1.00%
1.00%
Expense RatioB
(lowest to highest)
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
31.50%
17.01%
-1.93%
14.02%
33.33%
31.07%
16.89%
-2.27%
13.42%
32.35%
34.36%
13.17%
1.71%
12.71%
16.43%
43.50%
17.06%
-9.07%
17.20%
59.58%
to
to
to
to
to
45.41%
18.64%
-8.08%
18.76%
61.70%
26.08% to 26.92%
10.60% to 11.39%
(c)
(c)
(c)
29.57%
15.32%
-3.34%
12.25%
31.36%
29.04%
14.94%
-3.71%
12.17%
31.09%
33.77%
13.05%
1.70%
12.69%
16.36%
Total ReturnC
(lowest to highest)
Ariel Fund - Investor Class
2013
571
2012
258
2011
286
2010
202
2009
124
Artisan International Fund - Investor Shares
2013
885
2012
537
2011
354
2010
306
2009
233
Aston/Fairpointe Mid Cap Fund - Class N
2013
1,924
2012
712
2011
512
2010
249
2009
(b)
BlackRock Equity Dividend Fund - Investor A Shares
2013
84
2012
74
2011
39
2010
15
2009
(b)
BlackRock Mid Cap Value Opportunities Fund - Investor A Shares
2013
696
2012
556
2011
478
2010
285
2009
21
Units
(000's)
to
to
to
to
to
to
to
to
to
(b)
to
$17.40
to
$14.01
to
$12.49
$11.80
(b)
to
to
to
to
to
$11.10
$9.00
$7.29
$7.98
$7.64
$14.21
$9.93
$10.77
$11.69
$16.38
$13.39
$12.26
$22.33
$17.00
$15.25
$15.57
$12.58
246
$23.94
$17.96
$15.91
$16.16
$12.99
$18.57
$12.85
$11.04
$11.79
$19.92
$15.91
$12.80
$13.98
$13.31
to
to
to
to
to
$27.52
$18.86
$15.99
$17.82
$10.51
Unit Fair Value
(lowest to highest)
$17.00
$11.93
$10.06
$11.52
$9.68
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
16,116
9,764
7,480
4,516
263
1,434
1,014
487
183
(b)
33,435
8,892
5,556
2,925
(b)
10,284
5,043
2,674
2,510
1,829
10,567
3,328
3,064
2,518
1,271
Net Assets
(000's)
0.56%
0.37%
0.42%
(a)
1.80%
2.40%
2.09%
(b)
(b)
1.09%
0.24%
(b)
(b)
1.14%
1.43%
1.43%
0.92%
1.95%
0.82%
0.97%
0.25%
-
Investment
Income
RatioA
0.00%
0.00%
0.00%
0.00%
0.40%
0.10%
0.10%
0.25%
0.00%
0.00%
0.00%
0.25%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.70%
1.50%
1.50%
1.50%
1.50%
1.50%
1.50%
1.50%
1.50%
1.50%
1.90%
1.90%
1.70%
2.10%
2.10%
to
to
to
to
to
1.50%
1.50%
1.50%
1.50%
1.40%
to 1.65%
to 1.65%
to 1.25%
0.80%
(b)
to
to
to
to
(b)
to
to
to
to
to
to
to
to
to
to
Expense RatioB
(lowest to highest)
44.72%
20.37%
-11.35%
25.12%
62.23%
to 25.18%
to 25.32%
to -7.23%
to 5.87%
to 39.75%
to
to
to
to
to
31.35%
11.48%
-2.06%
24.01%
to
to
to
to
(a)
33.30%
13.17%
-0.56%
25.18%
22.33% to 24.20%
10.52% to 11.69%
4.75%
(b)
(b)
42.35% to 44.51%
14.67% to 16.39%
-7.87% to -6.79%
(b)
(b)
23.33%
23.46%
-8.65%
4.44%
37.66%
41.91%
18.22%
-12.80%
23.35%
60.42%
Total ReturnC
(lowest to highest)
Bond Fund of America - Class R-4
2013
2012
2011
2010
2009
Calvert VP SRI Balanced Portfolio
2013
2012
2011
2010
2009
Capital World Growth & Income FundSM, Inc. - Class R-3
2013
2012
2011
2010
2009
Cohen & Steers Realty Shares
2013
2012
2011
2010
2009
ColumbiaSM Acorn Fund® - Class A
2013
2012
2011
2010
2009
$10.97
$11.36
$10.89
$10.38
$9.82
$12.44
$10.64
$9.72
$9.38
$8.44
$17.80
$14.48
$12.34
$13.56
$12.84
$10.93
$10.76
$9.44
$18.40
$14.30
$12.34
$13.20
1,917
1,973
2,054
2,182
2,270
37
35
33
27
1
220
197
71
(c)
(c)
5
6
6
1
(b)
to
to
to
to
(b)
to
to
to
(c)
(c)
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
247
$18.88
$14.53
$12.47
$13.23
$11.37
$11.03
$9.52
$18.87
$15.15
$12.69
$13.80
$12.85
$41.44
$35.53
$32.50
$31.39
$28.29
$11.94
$12.18
$11.50
$10.80
$10.07
Unit Fair Value
(lowest to highest)
819
942
831
780
604
Units
(000's)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
103
85
69
9
(b)
2,434
2,138
677
(c)
(c)
685
513
415
363
14
52,700
46,174
44,041
45,223
42,394
9,244
10,954
9,219
8,210
5,982
Net Assets
(000's)
(b)
(b)
2.76%
2.49%
(c)
(c)
(c)
2.17%
2.16%
2.06%
2.65%
(a)
1.06%
1.25%
1.30%
1.41%
2.14%
2.35%
2.62%
3.28%
4.03%
4.37%
Investment
Income
RatioA
0.80%
0.90%
0.90%
0.95%
0.00%
0.00%
0.25%
0.00%
0.00%
0.20%
0.20%
0.50%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
to
to
to
to
(b)
to
to
to
(c)
(c)
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
1.45%
1.45%
1.45%
1.15%
1.50%
1.50%
1.50%
1.25%
1.25%
1.25%
1.25%
0.55%
1.50%
1.50%
1.50%
1.50%
1.50%
1.50%
1.50%
1.50%
1.50%
1.50%
Expense RatioB
(lowest to highest)
to
to
to
to
(a)
to
to
to
to
to
24.55%
18.52%
-8.04%
6.85%
18.04%
10.41%
4.61%
12.09%
25.38%
to -1.97%
to 5.91%
to 6.48%
to 7.25%
to 14.82%
28.67% to 29.39%
15.88% to 16.52%
-5.98%
(b)
(b)
1.58% to 3.08%
13.98% to 15.46%
(c)
(c)
(c)
22.93%
17.34%
-9.00%
6.85%
16.21%
8.85%
2.98%
10.42%
23.43%
-3.43%
4.32%
4.91%
5.70%
13.13%
Total ReturnC
(lowest to highest)
ColumbiaSM Acorn Fund® - Class Z
2013
2012
2011
2010
2009
Columbia Mid Cap Value Fund - Class A
2013
2012
2011
2010
2009
Columbia Mid Cap Value Fund - Class Z
2013
2012
2011
2010
2009
CRM Mid Cap Value Fund - Investor Shares
2013
2012
2011
2010
2009
Delaware Diversified Income Fund - Class A
2013
2012
2011
2010
2009
$13.72
$10.32
$9.00
$9.54
$7.90
$9.35
$9.82
$8.04
$19.53
$14.83
$12.93
$14.11
$12.15
419
388
413
399
371
557
273
161
15
15
16
16
6
191
79
(d)
(d)
(d)
$10.24
$10.87
$8.74
$14.89
$10.98
$9.45
$9.90
$8.11
$20.60
$15.55
$13.28
$14.37
$12.17
248
$9.86
$10.10
(d)
(d)
(d)
to
to
to
to
to
$14.56
$10.84
to
$9.63
to
$10.03
to
$8.14
to
to
to
to
to
$15.42
$11.93
to
$10.72
to
$11.24
to
$8.92
Unit Fair Value
(lowest to highest)
4
3
1,012
631
275
Units
(000's)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
1,887
801
(d)
(d)
(d)
313
232
216
223
70
2
1
5,363
2,739
1,314
5,980
4,121
3,805
3,877
2,961
54
39
10,848
7,095
2,451
Net Assets
(000's)
4.09%
(d)
(d)
(d)
(d)
0.37%
0.89%
0.46%
0.68%
(a)
0.75%
1.04%
1.48%
1.07%
0.40%
0.76%
0.57%
1.20%
0.84%
0.32%
0.17%
0.31%
Investment
Income
RatioA
to
to
to
to
to
1.60%
1.60%
1.60%
1.65%
1.60%
0.45%
0.45%
0.45%
0.45%
0.45%
0.95%
0.95%
(d)
(d)
(d)
to
to
to
to
to
1.60%
1.75%
1.45%
1.55%
0.70%
0.80%
0.80%
0.00% to 0.80%
0.00% to 0.80%
0.00% to 0.80%
0.15%
0.25%
0.25%
0.25%
0.00%
1.25%
1.25%
0.00% to 1.25%
0.00% to 1.25%
0.00% to 1.25%
Expense RatioB
(lowest to highest)
to
to
to
to
to
34.88%
16.22%
-4.55%
22.68%
32.30%
to
to
to
to
(a)
32.48%
17.09%
-7.59%
18.08%
-2.38%
(d)
(d)
(d)
(d)
30.99%
15.93%
-8.33%
17.78%
34.32%
15.94%
-4.79% to -3.99%
22.14% to 23.22%
31.59% to 32.57%
32.95%
14.67%
-5.74%
21.09%
30.15%
29.25%
16.50%
-5.80% to -4.63%
24.37% to 26.01%
37.85% to 39.59%
Total ReturnC
(lowest to highest)
Delaware Small Cap Value Fund - Class A
2013
2012
2011
2010
2009
Dodge & Cox International Stock Fund
2013
2012
2011
2010
2009
Dodge & Cox Stock Fund
2013
2012
2011
2010
2009
DWS Equity 500 Index Fund - Class S
2013
2012
2011
2010
2009
Eaton Vance Large-Cap Value Fund - Class R
2013
2012
2011
2010
2009
$18.91
$14.69
$12.74
$13.40
$18.87
$13.16
$10.98
249
to
to
to
to
$12.21
$18.18
$14.13
$12.29
$13.20
to
to
to
(c)
(c)
7
7
4
3
1
$17.93
$12.99
$10.86
7
2
2
(c)
(c)
$12.11
to
$15.05
to
$11.88
to
$9.89
$11.80
(b)
$20.41
$15.62
$13.65
$13.53
$11.89
$14.22
$11.48
$9.69
26
19
14
(b)
to
(e)
(e)
(e)
(e)
33
31
29
26
21
$12.03
Unit Fair Value
(lowest to highest)
9
(e)
(e)
(e)
(e)
Units
(000's)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
131
98
46
38
13
676
491
400
351
247
128
28
24
(c)
(c)
380
224
136
4
(b)
109
(e)
(e)
(e)
(e)
Net Assets
(000's)
0.87%
1.39%
2.38%
(a)
1.89%
2.02%
1.86%
1.67%
1.93%
1.28%
(f)
(c)
(c)
(c)
1.99%
2.78%
4.29%
(b)
(b)
(e)
(e)
(e)
(e)
(e)
Investment
Income
RatioA
0.20%
0.20%
0.20%
0.20%
0.50%
0.50%
1.35%
1.15%
0.50%
0.75%
0.75%
0.25%
1.25%
to
to
to
to
to
1.00%
1.00%
1.00%
1.00%
1.00%
to
to
to
(c)
(c)
1.05%
1.25%
1.55%
1.10%
0.55%
1.80%
1.80%
1.70%
to 1.95%
to 1.95%
to 1.85%
1.35%
(b)
to
(e)
(e)
(e)
(e)
Expense RatioB
(lowest to highest)
28.16%
14.04%
-5.26%
9.09%
to
to
to
to
(a)
28.73%
15.31%
-4.93%
9.17%
30.67%
14.43%
0.89%
13.79%
25.03%
38.03%
(f)
(c)
(c)
(c)
23.87% to 25.42%
18.85% to 20.12%
(b)
(b)
(e)
(e)
(e)
(e)
(e)
Total ReturnC
(lowest to highest)
EuroPacific Growth Fund® - Class R-3
2013
2012
2011
2010
2009
EuroPacific Growth Fund® - Class R-4
2013
2012
2011
2010
2009
Fidelity® Advisor New Insights Fund - Institutional Class
2013
2012
2011
2010
2009
Fidelity® VIP Equity-Income Portfolio - Initial Class
2013
2012
2011
2010
2009
Fidelity® VIP Growth Portfolio - Initial Class
2013
2012
2011
2010
2009
$19.07
$16.16
$13.81
$16.06
$14.98
$10.61
$8.91
$7.54
$8.81
$8.12
$17.49
$13.44
$11.82
$12.21
$11.91
$9.38
$8.07
$8.06
$7.06
$12.30
$9.10
$8.01
$8.07
$6.55
15,518
15,728
16,297
16,595
15,890
40
34
22
3
(b)
10,575
11,678
13,226
14,409
15,503
10,711
11,796
12,717
13,207
13,653
to
to
to
to
to
to
to
to
to
to
to
to
to
to
(b)
to
to
to
to
to
to
to
to
to
to
250
$41.23
$30.59
$26.98
$27.24
$22.19
$41.19
$32.52
$28.04
$28.09
$24.68
$18.58
$14.06
$12.15
$12.24
$22.67
$18.86
$15.82
$18.31
$16.80
$22.23
$18.56
$15.61
$18.12
$16.61
Unit Fair Value
(lowest to highest)
410
494
649
742
721
Units
(000's)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
275,001
225,077
214,512
225,726
190,848
306,607
264,552
256,279
280,318
263,715
729
465
259
38
(b)
314,660
268,614
235,342
279,835
247,037
8,662
8,750
9,736
12,954
11,577
Net Assets
(000's)
0.28%
0.62%
0.38%
0.34%
0.43%
2.51%
3.11%
2.48%
1.76%
2.20%
(b)
(b)
1.02%
1.82%
1.54%
1.48%
2.00%
0.65%
1.35%
1.18%
1.19%
1.76%
Investment
Income
RatioA
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.40%
0.40%
0.40%
0.90%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
to
to
to
to
to
to
to
to
to
to
to
to
to
to
(b)
to
to
to
to
to
to
to
to
to
to
1.75%
1.75%
1.80%
1.85%
1.85%
1.95%
1.95%
1.95%
2.15%
2.15%
1.95%
1.95%
1.85%
1.15%
1.50%
1.50%
1.50%
1.50%
1.50%
1.55%
1.55%
1.55%
1.75%
1.75%
Expense RatioB
(lowest to highest)
to
to
to
to
to
to
to
to
to
to
20.50%
19.23%
-13.60%
9.40%
39.25%
19.77%
18.90%
-13.85%
9.09%
38.65%
33.95%
12.69%
-1.49%
21.91%
25.83%
25.63%
15.02%
-0.94%
12.73%
27.38%
to
to
to
to
to
to
to
to
to
to
36.33%
14.70%
0.18%
24.36%
28.29%
28.10%
17.37%
1.01%
15.25%
30.20%
30.13% to 32.15%
14.15% to 15.72%
(b)
(b)
18.42%
17.44%
-14.91%
7.74%
37.08%
18.01%
17.02%
-15.17%
7.21%
36.31%
Total ReturnC
(lowest to highest)
Fidelity® VIP High Income Portfolio - Initial Class
2013
2012
2011
2010
2009
Fidelity® VIP Overseas Portfolio - Initial Class
2013
2012
2011
2010
2009
Fidelity® VIP Contrafund® Portfolio - Initial Class
2013
2012
2011
2010
2009
Fidelity® VIP Index 500 Portfolio - Initial Class
2013
2012
2011
2010
2009
Fidelity® VIP Mid Cap Portfolio - Initial Class
2013
2012
2011
2010
2009
$9.83
$7.61
$6.36
$7.74
$6.90
$12.81
$9.84
$8.53
$8.83
$7.59
$39.21
$29.93
$26.07
$25.79
$22.64
1,864
1,924
2,181
2,316
2,527
34,517
36,247
37,831
38,963
40,206
3,904
3,845
3,936
4,089
4,173
1,290
1,299
1,311
1,329
1,163
$14.91
$14.20
$12.55
$12.18
$10.80
$39.37
$30.12
$26.27
$26.00
$22.84
$54.32
$41.86
$36.35
$37.67
$32.46
$27.07
$20.76
$17.19
$20.75
$18.33
$15.91
$15.24
$13.54
$13.22
$11.79
251
$21.60
$15.86
$13.81
$15.45
$11.99
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
Unit Fair Value
(lowest to highest)
759
852
770
812
828
Units
(000's)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
27,855
20,599
18,110
20,531
13,948
153,676
115,759
103,342
106,249
95,244
1,320,713
1,085,469
988,331
1,058,819
970,509
36,312
29,379
27,985
36,340
35,651
11,354
12,167
9,729
9,957
9,003
Net Assets
(000's)
0.52%
0.66%
0.26%
0.39%
0.73%
1.96%
2.20%
1.98%
1.90%
2.48%
1.07%
1.39%
1.03%
1.19%
1.37%
1.36%
1.91%
1.44%
1.31%
2.07%
5.55%
6.21%
6.80%
7.77%
9.19%
Investment
Income
RatioA
0.95%
0.95%
0.95%
0.95%
0.95%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.95%
0.95%
0.95%
0.95%
0.95%
-
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
1.20%
1.10%
1.00%
1.00%
1.00%
1.95%
1.95%
1.95%
2.15%
2.15%
1.50%
1.50%
1.50%
1.50%
1.50%
1.50%
1.50%
1.50%
1.50%
1.50%
Expense RatioB
(lowest to highest)
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
31.01%
14.81%
1.09%
13.91%
25.43%
31.32%
16.42%
-2.54%
17.37%
35.75%
30.42%
20.83%
-17.16%
13.20%
26.52%
to 5.00%
to 13.15%
to 3.04%
to 12.78%
to 42.48%
36.19%
14.84%
-10.61%
28.86%
40.07%
30.71%
14.66%
1.04%
13.84%
25.36%
28.75%
14.15%
-4.39%
14.74%
32.82%
28.47%
18.92%
-18.39%
11.42%
24.57%
4.40%
12.56%
2.42%
12.13%
41.88%
Total ReturnC
(lowest to highest)
Fidelity® VIP Asset Manager Portfolio - Initial Class
2013
2012
2011
2010
2009
Mutual Global Discovery Fund - Class R
2013
2012
2011
2010
2009
Franklin Small-Mid Cap Growth Fund - Class A
2013
2012
2011
2010
2009
Franklin Small Cap Value Securities Fund - Class 2
2013
2012
2011
2010
2009
Growth Fund of America - Class R-3
2013
2012
2011
2010
2009
$28.46
$24.83
$22.29
$23.09
$20.40
$13.03
$10.55
$15.28
$15.81
$14.51
$18.95
$14.29
$12.78
$13.68
$10.84
$15.61
$11.56
$9.85
$10.33
$8.12
$15.26
$11.56
$9.71
$10.34
$9.33
113
131
171
228
217
36
36
49
47
50
4,953
5,113
5,934
6,233
5,720
819
847
1,165
1,342
1,299
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
252
$21.05
$15.78
$13.13
$13.84
$12.36
$32.84
$24.11
$20.36
$21.19
$16.69
$22.10
$15.98
$14.45
$15.12
$11.81
$24.06
$19.27
$17.07
$17.53
$16.09
$28.57
$24.99
$22.46
$23.28
$20.58
Unit Fair Value
(lowest to highest)
814
905
930
947
979
Units
(000's)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
15,914
12,373
14,365
17,580
15,280
144,001
110,112
109,148
119,932
86,667
759
553
673
681
563
2,610
2,419
2,800
3,888
3,353
23,250
22,592
20,844
22,008
20,099
Net Assets
(000's)
0.03%
0.44%
0.34%
0.60%
0.73%
1.30%
0.79%
0.70%
0.74%
1.55%
-
1.27%
1.30%
1.26%
1.60%
0.89%
1.53%
1.59%
2.01%
1.67%
2.41%
Investment
Income
RatioA
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.20%
0.20%
0.20%
0.30%
0.30%
0.15%
0.15%
0.15%
0.25%
0.00%
0.95%
0.95%
0.95%
0.95%
0.95%
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
1.55%
1.55%
1.55%
1.75%
1.75%
1.75%
1.75%
1.75%
1.95%
1.95%
1.75%
1.45%
1.75%
1.75%
1.75%
1.55%
1.55%
1.55%
1.75%
1.75%
1.20%
1.10%
1.00%
1.00%
1.00%
Expense RatioB
(lowest to highest)
31.37%
18.35%
-6.60%
9.96%
31.80%
33.84%
16.34%
-5.40%
25.72%
26.67%
36.60%
9.17%
-6.58%
26.20%
40.78%
23.10%
11.32%
-4.68%
8.96%
18.87%
14.33%
11.26%
-3.52%
13.12%
27.83%
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
33.40%
20.18%
-5.13%
11.97%
34.06%
36.21%
18.42%
-3.71%
28.24%
29.30%
38.30%
10.59%
-5.57%
28.04%
42.81%
24.86%
12.89%
-3.42%
10.53%
20.31%
14.62%
11.40%
-3.46%
13.19%
27.90%
Total ReturnC
(lowest to highest)
Growth Fund of America - Class R-4
2013
2012
2011
2010
2009
The Hartford Capital Appreciation Fund - Class R4
2013
2012
2011
2010
2009
The Hartford Dividend And Growth Fund - Class R4
2013
2012
2011
2010
2009
Income Fund of America - Class R-3
2013
2012
2011
2010
2009
ING Balanced Portfolio - Class I
2013
2012
2011
2010
2009
$12.18
$10.53
$9.35
$9.56
$8.44
10,790
12,021
13,209
14,952
16,466
$48.94
$42.33
$37.60
$38.46
$34.02
$19.23
$16.33
$14.63
$13.91
$12.47
$21.64
$16.17
$13.42
$14.10
$12.56
253
to
to
to
to
to
$16.49
$14.22
$13.10
$12.33
$11.24
131
129
153
147
149
to
to
to
to
to
$16.33
$12.55
$11.19
$11.16
(b)
21
2
4
(b)
to
to
to
to
to
$16.26
$11.55
$9.67
$11.48
(b)
$13.12
$9.90
$8.28
$8.79
$7.89
Unit Fair Value
(lowest to highest)
14
18
17
(b)
18,546
19,382
21,865
23,779
23,386
Units
(000's)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
317,105
305,260
299,261
347,585
341,845
2,392
1,985
2,121
1,942
1,778
4
261
28
46
(b)
159
173
190
(b)
363,914
287,158
271,700
313,633
277,112
Net Assets
(000's)
2.18%
3.11%
2.79%
2.78%
4.46%
3.02%
3.31%
3.64%
3.82%
4.47%
3.02%
1.38%
(b)
(b)
0.60%
1.65%
(b)
(b)
0.33%
0.76%
0.64%
0.88%
1.00%
Investment
Income
RatioA
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
to
to
to
to
to
to
to
to
to
to
0.65%
0.65%
0.65%
0.65%
(b)
0.65%
0.65%
0.65%
0.65%
(b)
to
to
to
to
to
1.95%
1.95%
1.95%
1.95%
1.95%
1.55%
1.55%
1.40%
1.75%
1.75%
1.50%
1.50%
1.50%
1.50%
1.50%
Expense RatioB
(lowest to highest)
to
to
to
to
to
33.83%
20.61%
-4.82%
12.30%
34.63%
14.46%
11.45%
-3.28%
11.89%
16.92%
15.96%
10.00%
3.72%
9.70%
21.91%
to
to
to
to
to
to
to
to
to
to
16.71%
13.65%
-1.33%
14.19%
19.28%
17.76%
11.62%
5.18%
11.55%
24.08%
30.12%
12.15%
0.27%
(b)
(b)
40.78%
19.44%
-15.77%
(b)
(b)
31.83%
18.73%
-6.27%
10.63%
32.53%
Total ReturnC
(lowest to highest)
ING Growth Opportunities Fund - Class A
2013
2012
2011
2010
2009
ING Large Cap Value Fund - Class A
2013
2012
2011
2010
2009
ING MidCap Opportunities Fund - Class A
2013
2012
2011
2010
2009
ING Real Estate Fund - Class A
2013
2012
2011
2010
2009
ING GNMA Income Fund - Class A
2013
2012
2011
2010
2009
$12.20
(e)
(e)
(e)
(e)
to
to
to
to
to
$19.24
$19.20
$17.05
$15.50
$12.60
$10.58
$10.94
$10.80
$10.20
$11.85
(e)
(e)
(e)
(e)
89
92
114
117
122
294
338
355
367
388
$16.86
$17.22
$16.78
$15.66
$12.98
$22.44
$22.05
$19.12
$17.49
$13.73
254
$12.17
(e)
(e)
(e)
(e)
(e)
(e)
(e)
(e)
to
to
to
to
to
$17.53
$13.81
(d)
(d)
(d)
Unit Fair Value
(lowest to highest)
6
5
(d)
(d)
(d)
Units
(000's)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
3,821
4,456
4,837
4,750
4,826
1,908
1,954
2,098
1,971
1,611
1
(e)
(e)
(e)
(e)
6
(e)
(e)
(e)
(e)
107
63
(d)
(d)
(d)
Net Assets
(000's)
3.38%
3.62%
3.86%
3.74%
4.15%
2.18%
2.17%
1.97%
2.35%
3.77%
(e)
(e)
(e)
(e)
(e)
(e)
(e)
(e)
(e)
(e)
(d)
(d)
(d)
(d)
Investment
Income
RatioA
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
to
to
to
to
to
to
to
to
to
to
0.35%
(e)
(e)
(e)
(e)
0.50%
(e)
(e)
(e)
(e)
1.15%
1.15%
(d)
(d)
(d)
1.55%
1.55%
1.55%
1.55%
1.55%
1.55%
1.55%
1.45%
1.75%
1.45%
Expense RatioB
(lowest to highest)
-3.32%
1.30%
5.73%
4.56%
3.40%
0.21%
13.80%
7.85%
25.63%
27.79%
to
to
to
to
to
-1.84%
2.90%
7.40%
6.24%
4.93%
to 1.77%
to 15.32%
to 9.32%
to 27.39%
to 29.65%
(e)
(e)
(e)
(e)
(e)
(e)
(e)
(e)
(e)
(e)
26.94%
(d)
(d)
(d)
(d)
Total ReturnC
(lowest to highest)
ING Intermediate Bond Fund - Class A
2013
141
2012
225
2011
251
2010
326
2009
334
ING Intermediate Bond Portfolio - Class I
2013
14,430
2012
16,602
2011
17,019
2010
17,564
2009
18,464
ING Intermediate Bond Portfolio - Class S
2013
74
2012
89
2011
74
2010
44
2009
33
ING BlackRock Health Sciences Opportunities Portfolio - Service Class
2013
1,571
2012
974
2011
892
2010
826
2009
846
ING BlackRock Inflation Protected Bond Portfolio - Adviser Class
2013
6
2012
9
2011
7
2010
(c)
2009
(c)
Units
(000's)
$15.63
$10.93
$9.29
$8.95
$8.43
to
to
to
to
to
$12.72
$12.85
$11.86
$11.13
$10.21
$22.98
$15.92
$13.41
$12.80
$11.97
$102.02
$103.21
$95.33
$89.57
$82.40
$15.10
$15.21
$13.98
$12.97
$11.83
255
$10.20
$11.26
$10.65
(c)
(c)
to
to
to
to
to
$13.45
$13.55
$12.47
$11.66
$10.69
to
to
to
to
to
Unit Fair Value
(lowest to highest)
$12.95
$13.25
$12.36
$11.66
$10.79
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
65
97
74
(c)
(c)
33,208
14,469
11,294
10,075
9,719
993
1,202
922
511
349
348,194
408,463
386,933
383,698
378,989
2,006
3,250
3,356
4,053
3,799
Net Assets
(000's)
(c)
(c)
(c)
0.06%
0.74%
0.58%
-
2.92%
4.71%
5.44%
5.81%
7.13%
3.16%
4.58%
4.47%
5.05%
6.63%
2.89%
4.51%
4.24%
5.17%
6.26%
Investment
Income
RatioA
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.35%
0.35%
0.35%
(c)
(c)
to
to
to
to
to
0.35%
0.35%
0.35%
0.35%
0.35%
to
to
to
to
to
to
to
to
to
to
1.50%
1.50%
1.50%
1.50%
1.50%
1.95%
1.95%
1.95%
1.95%
2.05%
1.55%
1.55%
1.55%
1.55%
1.55%
Expense RatioB
(lowest to highest)
to 0.14%
to 9.37%
to 7.59%
to 9.98%
to 11.57%
to -0.72%
to 8.80%
to 7.79%
to 9.64%
to 12.88%
to 44.40%
to 18.72%
to 4.83%
to 6.93%
to 20.17%
-9.41%
5.73%
(c)
(c)
(c)
42.18%
16.98%
3.15%
5.44%
18.24%
-0.74%
8.66%
6.95%
9.07%
10.89%
-2.05%
7.24%
5.49%
7.67%
9.31%
-2.26%
7.20%
6.00%
8.06%
11.01%
Total ReturnC
(lowest to highest)
Units
(000's)
ING BlackRock Large Cap Growth Portfolio - Institutional Class
2013
7,611
2012
8,458
2011
9,172
2010
9,256
2009
9,710
ING BlackRock Large Cap Growth Portfolio - Service Class
2013
20
2012
47
2011
51
2010
18
2009
17
ING BlackRock Large Cap Growth Portfolio - Service 2 Class
2013
24
2012
29
2011
29
2010
24
2009
22
ING Clarion Global Real Estate Portfolio - Adviser Class
2013
1
2012
1
2011
2010
(c)
2009
(c)
ING Clarion Global Real Estate Portfolio - Institutional Class
2013
6,640
2012
6,449
2011
5,765
2010
5,816
2009
5,675
$12.01
$11.73
$9.44
$10.11
$8.82
to
to
to
to
to
256
$13.02
$12.52
$9.93
$10.47
$9.00
$
$
$
$
$
$
$
$
$
$
$
$
$
$11.43
$11.10
$8.90
(c)
(c)
$20.34
$15.37
$13.51
$10.95
$9.65
$
$
$
$
$
$
$
$
$
$
to
to
to
to
to
$13.74
$10.37
$10.49
$10.71
$9.49
$14.41
$10.77
$9.41
$9.53
$8.39
$13.67
$10.32
$9.07
$9.25
$8.20
to
to
to
to
to
Unit Fair Value
(lowest to highest)
$12.22
$9.29
$8.22
$8.45
$7.55
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
82,599
77,810
55,561
59,612
50,442
6
7
2
(c)
(c)
329
294
261
220
177
288
502
551
196
158
101,984
85,929
82,025
84,717
79,020
Net Assets
(000's)
6.06%
0.80%
3.83%
8.70%
2.45%
(c)
(c)
(c)
0.96%
0.36%
0.42%
-
0.76%
0.57%
0.54%
-
1.35%
0.77%
0.62%
0.46%
0.58%
Investment
Income
RatioA
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
to
to
to
to
to
0.35%
0.35%
0.35%
(c)
(c)
0.35%
0.35%
0.35%
0.35%
0.35%
to
to
to
to
to
to
to
to
to
to
1.50%
1.50%
1.50%
1.50%
1.50%
1.40%
1.40%
1.30%
0.50%
0.50%
1.50%
1.50%
1.50%
1.50%
1.50%
Expense RatioB
(lowest to highest)
to
to
to
to
to
to
to
to
to
to
33.06%
14.47%
-1.55%
13.47%
30.23%
33.80%
14.73%
-1.25%
13.72%
30.69%
2.39%
24.21%
-6.63%
14.63%
31.79%
to 3.99%
to 26.08%
to -5.16%
to 16.33%
to 33.73%
2.97%
24.72%
(c)
(c)
(c)
32.46%
13.78%
-1.95%
12.80%
29.54%
31.28%
13.77%
-2.05%
12.86%
29.47%
31.41%
13.02%
-2.78%
11.91%
28.62%
Total ReturnC
(lowest to highest)
ING Clarion Real Estate Portfolio - Adviser Class
2013
3
2012
4
2011
2
2010
(c)
2009
(c)
ING Clarion Real Estate Portfolio - Institutional Class
2013
145
2012
175
2011
188
2010
182
2009
158
ING Clarion Real Estate Portfolio - Service Class
2013
3,817
2012
4,181
2011
4,216
2010
3,935
2009
3,220
ING FMRSM Diversified Mid Cap Portfolio - Institutional Class
2013
2,570
2012
2,655
2011
(d)
2010
(d)
2009
(d)
ING FMRSM Diversified Mid Cap Portfolio - Service Class
2013
2,805
2012
3,077
2011
4,580
2010
4,086
2009
3,350
Units
(000's)
to
to
to
to
to
to
to
to
to
to
to
to
(d)
(d)
(d)
to
to
to
to
to
$11.47
$11.34
$9.91
$9.13
$7.19
$14.19
$10.45
$14.08
$10.44
$9.19
$10.41
$8.18
$23.06
$16.96
$14.79
$16.61
$12.94
$14.28
$10.47
$14.09
$13.80
$11.95
$10.91
$8.52
$13.34
$13.17
$11.48
$10.56
$8.31
257
$11.39
$11.24
$9.80
(c)
(c)
Unit Fair Value
(lowest to highest)
$12.34
$12.31
$10.84
$10.07
$8.00
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
59,652
48,491
64,098
64,558
41,611
36,469
27,744
(d)
(d)
(d)
50,213
54,384
48,009
41,259
26,610
1,928
2,303
2,157
1,924
1,315
38
41
18
(c)
(c)
Net Assets
(000's)
0.47%
0.53%
0.20%
0.15%
0.53%
0.74%
(d)
(d)
(d)
(d)
1.43%
1.03%
1.33%
3.37%
3.48%
1.65%
1.30%
2.40%
3.64%
3.43%
(c)
(c)
(c)
Investment
Income
RatioA
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.95%
0.95%
0.95%
0.95%
0.95%
to
to
to
to
to
to
to
(d)
(d)
(d)
to
to
to
to
to
to
to
to
to
to
0.35%
0.35%
0.35%
(c)
(c)
1.60%
1.60%
1.60%
1.80%
1.50%
0.45%
0.45%
1.50%
1.55%
1.55%
1.50%
1.55%
1.95%
1.95%
1.95%
1.95%
1.95%
Expense RatioB
(lowest to highest)
to 2.13%
to 15.52%
to 9.53%
to 28.05%
to 35.89%
33.87%
12.81%
-12.28%
26.45%
37.05%
to
to
to
to
to
36.01%
14.67%
-10.93%
28.45%
39.14%
35.79% to 36.39%
(d)
(d)
(d)
(d)
0.48%
13.69%
7.87%
26.02%
33.83%
0.24% to 1.29%
13.56% to 14.72%
7.65% to 8.71%
25.88% to 27.08%
34.90%
1.33%
14.69%
(c)
(c)
(c)
Total ReturnC
(lowest to highest)
Units
(000's)
ING FMRSM Diversified Mid Cap Portfolio - Service 2 Class
2013
3
2012
1
2011
1
2010
(c)
2009
(c)
ING Global Resources Portfolio - Adviser Class
2013
2012
2011
2010
(c)
2009
(c)
ING Global Resources Portfolio - Institutional Class
2013
2
2012
2
2011
2
2010
2
2009
2
ING Global Resources Portfolio - Service Class
2013
7,743
2012
9,081
2011
10,492
2010
10,301
2009
10,029
ING Invesco Growth and Income Portfolio - Institutional Class
2013
886
2012
634
2011
(d)
2010
(d)
2009
(d)
to
to
(d)
(d)
(d)
$13.84
$10.36
258
$13.93
$10.38
$
$
$
$
$
$
$
$
$
$
$
$
$13.82
$12.16
$12.51
$13.76
$11.31
$14.93
$13.18
$13.59
$15.01
$12.38
$
$
$
$9.54
$8.46
$8.76
(c)
(c)
to
to
to
to
to
$
$
$
$13.16
$9.72
$8.52
(c)
(c)
Unit Fair Value
(lowest to highest)
$9.64
$8.56
$8.89
$9.88
$8.19
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
12,257
6,568
(d)
(d)
(d)
97,667
101,734
122,291
133,413
107,768
28
26
30
33
27
1
2
2
(c)
(c)
38
8
12
(c)
(c)
Net Assets
(000's)
1.54%
(d)
(d)
(d)
(d)
0.94%
0.79%
0.60%
0.85%
0.30%
-
(c)
(c)
(c)
(c)
(c)
(c)
Investment
Income
RatioA
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
to
to
(d)
(d)
(d)
to
to
to
to
to
0.20%
0.20%
0.20%
0.20%
0.20%
0.35%
0.35%
0.35%
(c)
(c)
0.35%
0.35%
0.35%
(c)
(c)
0.45%
0.45%
1.50%
1.50%
1.50%
1.50%
1.50%
Expense RatioB
(lowest to highest)
to 13.63%
to -2.84%
to -9.13%
to 21.64%
to 37.64%
33.59% to 34.20%
(d)
(d)
(d)
(d)
11.89%
-4.24%
-10.51%
19.77%
35.47%
13.65%
-2.80%
-9.08%
21.66%
37.59%
12.77%
-3.42%
(c)
(c)
(c)
35.39%
14.08%
(c)
(c)
(c)
Total ReturnC
(lowest to highest)
ING Invesco Growth and Income Portfolio - Service Class
2013
1,496
2012
1,367
2011
1,721
2010
1,829
2009
1,715
ING JPMorgan Emerging Markets Equity Portfolio - Adviser Class
2013
15
2012
16
2011
18
2010
20
2009
25
ING JPMorgan Emerging Markets Equity Portfolio - Institutional Class
2013
1,302
2012
1,631
2011
1,715
2010
1,953
2009
2,123
ING JPMorgan Emerging Markets Equity Portfolio - Service Class
2013
973
2012
1,166
2011
1,268
2010
1,441
2009
1,541
ING JPMorgan Small Cap Core Equity Portfolio - Adviser Class
2013
1
2012
1
2011
1
2010
(c)
2009
(c)
Units
(000's)
to
to
to
to
to
$8.88
$9.51
$8.05
$9.94
$8.33
$23.46
$24.70
$20.76
$25.42
$21.25
$18.67
$19.94
$16.87
$20.78
$17.39
$18.79
$14.04
$12.25
$12.52
$11.13
259
$14.78
$10.70
$9.08
(c)
(c)
to
to
to
to
to
$18.57
$19.87
$16.84
$20.75
$17.38
$17.85
$19.07
$16.12
$19.86
$16.62
to
to
to
to
to
Unit Fair Value
(lowest to highest)
$13.18
$9.94
$8.75
$9.03
$8.09
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
22
16
9
(c)
(c)
20,444
26,309
23,894
33,720
30,187
24,242
32,471
28,902
40,548
36,901
265
307
286
405
421
25,945
17,841
19,901
21,766
18,265
Net Assets
(000's)
(c)
(c)
(c)
0.87%
0.83%
0.48%
1.31%
1.13%
1.10%
0.67%
1.51%
0.70%
0.87%
0.48%
1.01%
1.37%
2.25%
1.21%
0.24%
1.34%
Investment
Income
RatioA
0.00%
0.00%
0.00%
0.00%
0.00%
0.95%
0.95%
0.95%
0.95%
0.95%
0.00%
0.00%
0.00%
0.00%
0.00%
0.35%
0.35%
0.35%
(c)
(c)
to
to
to
to
to
to
to
to
to
to
0.35%
0.35%
0.35%
0.35%
0.35%
to
to
to
to
to
1.50%
1.50%
1.50%
1.55%
1.55%
1.20%
1.10%
1.00%
1.00%
1.00%
1.50%
1.50%
1.50%
1.50%
1.50%
Expense RatioB
(lowest to highest)
to
to
to
to
to
33.98%
14.61%
-2.16%
12.49%
23.98%
to
to
to
to
to
to
to
to
to
to
-5.78%
19.08%
-18.26%
20.31%
71.51%
-6.37%
18.20%
-18.82%
19.49%
70.39%
38.13%
17.84%
(c)
(c)
(c)
-7.12%
17.35%
-19.51%
18.45%
68.93%
-6.54%
17.99%
-18.84%
19.39%
70.32%
-6.40%
18.30%
-18.83%
19.49%
70.29%
31.89%
12.91%
-3.65%
10.79%
22.12%
Total ReturnC
(lowest to highest)
Units
(000's)
ING JPMorgan Small Cap Core Equity Portfolio - Institutional Class
2013
1,325
2012
851
2011
(d)
2010
(d)
2009
(d)
ING JPMorgan Small Cap Core Equity Portfolio - Service Class
2013
816
2012
524
2011
631
2010
466
2009
324
ING Large Cap Growth Portfolio - Adviser Class
2013
12
2012
13
2011
11
2010
(c)
2009
(c)
ING Large Cap Growth Portfolio - Institutional Class
2013
16,193
2012
15,966
2011
12,873
2010
(c)
2009
(c)
ING Large Cap Growth Portfolio - Service Class
2013
110
2012
25
2011
25
2010
217
2009
29
to
to
to
to
to
$16.48
$11.97
$10.18
$10.41
$8.29
to
to
to
(c)
(c)
to
to
to
to
to
$15.41
$11.94
$10.27
$15.63
$12.06
$10.32
$14.96
$13.16
$24.06
$13.93
$15.22
$15.29
$13.39
$21.32
$16.43
$14.05
$24.02
$17.29
$14.57
$14.76
$11.65
$14.78
$10.60
260
$15.71
$12.10
$10.33
(c)
(c)
to
to
(d)
(d)
(d)
Unit Fair Value
(lowest to highest)
$14.69
$10.59
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
1,972
338
266
3,252
378
254,592
193,340
133,022
(c)
(c)
187
155
113
(c)
(c)
17,992
8,402
8,714
6,554
3,617
19,469
9,013
(d)
(d)
(d)
Net Assets
(000's)
0.52%
0.33%
0.11%
0.33%
0.48%
0.54%
0.58%
(c)
(c)
(c)
0.58%
0.75%
(c)
(c)
(c)
0.83%
0.25%
0.37%
0.28%
0.45%
0.95%
(d)
(d)
(d)
(d)
Investment
Income
RatioA
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
to
to
to
to
to
to
to
to
(c)
(c)
0.35%
0.35%
0.35%
(c)
(c)
to
to
to
to
to
to
to
(d)
(d)
(d)
1.40%
1.40%
1.40%
0.50%
0.50%
1.50%
1.50%
1.50%
1.65%
1.50%
1.50%
1.50%
1.50%
0.45%
0.45%
Expense RatioB
(lowest to highest)
to
to
to
to
to
39.00%
18.67%
-1.29%
26.70%
27.40%
28.82% to 30.64%
16.14% to 17.87%
1.74%
13.68% to 14.19%
41.81% to 42.45%
29.01% to 31.09%
16.26% to 18.10%
(c)
(c)
(c)
29.83%
17.13%
(c)
(c)
(c)
36.86%
16.92%
-2.80%
24.86%
25.40%
38.72% to 39.43%
(d)
(d)
(d)
(d)
Total ReturnC
(lowest to highest)
ING Large Cap Value Portfolio - Adviser Class
2013
2012
2011
2010
2009
ING Large Cap Value Portfolio - Institutional Class
2013
2012
2011
2010
2009
ING Large Cap Value Portfolio - Service Class
2013
2012
2011
2010
2009
ING Limited Maturity Bond Portfolio - Adviser Class
2013
2012
2011
2010
2009
ING Marsico Growth Portfolio - Institutional Class
2013
2012
2011
2010
2009
$15.56
$11.45
$10.14
$10.29
$8.57
261
to
to
to
to
to
889
893
904
921
881
$14.28
$10.64
$9.58
$9.82
$8.25
$14.08
$10.76
$9.38
$9.06
$7.59
to
$13.29
to
$9.91
to
$8.71
$8.26
$7.00
$10.06
$10.06
(d)
(d)
(d)
$11.22
$9.24
$8.21
100
72
95
-
to
to
to
to
to
2
2
(d)
(d)
(d)
$11.74
$9.15
$8.14
$8.02
$6.85
$10.58
(e)
(e)
(e)
(e)
Unit Fair Value
(lowest to highest)
27,029
22,249
24,706
16,432
17,629
3
(e)
(e)
(e)
(e)
Units
(000's)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
13,006
9,713
8,799
9,178
7,384
18
17
(d)
(d)
(d)
1,259
708
821
3
3
342,341
217,365
212,312
137,628
124,824
29
(e)
(e)
(e)
(e)
Net Assets
(000's)
1.07%
0.71%
0.51%
0.69%
1.17%
(d)
(d)
(d)
(d)
1.73%
2.35%
1.94%
-
2.16%
2.56%
1.28%
2.49%
-
(e)
(e)
(e)
(e)
(e)
Investment
Income
RatioA
0.00%
0.00%
0.00%
0.00%
0.00%
0.10%
0.50%
0.50%
0.00%
0.00%
0.00%
0.00%
0.00%
1.95%
1.95%
1.95%
1.95%
1.95%
to
to
to
to
to
0.35%
0.35%
(d)
(d)
(d)
1.50%
1.50%
1.50%
1.50%
1.50%
to 1.55%
to 1.55%
to 1.55%
1.05%
1.05%
to
to
to
to
to
0.35%
(e)
(e)
(e)
(e)
Expense RatioB
(lowest to highest)
to
to
to
to
to
30.92%
14.71%
3.53%
19.37%
12.77%
33.83%
8.02%
-2.84%
18.35%
27.33%
to
to
to
to
to
(d)
(d)
(d)
(d)
35.90%
12.92%
-1.46%
20.07%
31.01%
28.68% to 30.07%
12.55% to 13.78%
2.18%
18.00%
-
28.31%
12.41%
1.50%
17.08%
10.45%
(e)
(e)
(e)
(e)
(e)
Total ReturnC
(lowest to highest)
ING Marsico Growth Portfolio - Service Class
2013
2012
2011
2010
2009
ING MFS Total Return Portfolio - Adviser Class
2013
2012
2011
2010
2009
ING MFS Total Return Portfolio - Institutional Class
2013
2012
2011
2010
2009
ING MFS Total Return Portfolio - Service Class
2013
2012
2011
2010
2009
ING MFS Utilities Portfolio - Service Class
2013
2012
2011
2010
2009
$14.30
$12.16
$11.03
$10.94
$10.03
$12.65
$10.76
$9.76
$9.70
$8.90
$13.19
$11.07
$9.86
$9.35
$8.29
1,531
1,604
1,712
1,795
1,926
2,187
2,264
2,369
2,219
2,258
$15.01
$11.12
$9.91
$10.12
$8.47
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
$26.11
$21.73
$19.18
$18.03
$15.86
$21.09
$17.81
$16.06
$15.85
$14.70
$14.38
$12.20
$11.05
$10.95
$10.04
$18.07
$13.41
$12.28
$12.51
$10.35
262
$15.08
$12.79
$11.59
$11.49
$10.53
to
to
to
to
to
Unit Fair Value
(lowest to highest)
4,397
4,607
5,037
5,492
5,815
69
89
97
93
85
6
8
48
43
33
Units
(000's)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
52,403
45,560
42,549
37,746
34,116
28,789
25,679
24,886
25,934
25,683
63,035
56,102
55,604
60,109
58,354
1,034
1,139
1,120
1,070
896
99
97
570
522
337
Net Assets
(000's)
2.09%
3.18%
3.65%
2.63%
5.53%
2.18%
2.46%
2.43%
0.45%
2.51%
2.36%
2.74%
2.69%
0.45%
2.74%
2.21%
2.21%
2.56%
0.41%
2.58%
1.02%
0.30%
0.18%
0.47%
0.62%
Investment
Income
RatioA
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.95%
0.95%
0.95%
0.95%
0.95%
0.35%
0.35%
0.25%
0.25%
0.35%
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
0.35%
0.35%
0.35%
0.35%
0.35%
to
to
to
to
to
1.50%
1.50%
1.50%
1.50%
1.50%
1.65%
1.65%
1.65%
1.50%
1.55%
1.20%
1.10%
1.00%
1.00%
1.00%
1.35%
1.45%
1.45%
1.35%
1.50%
Expense RatioB
(lowest to highest)
to
to
to
to
to
34.98%
12.21%
-1.84%
19.48%
28.53%
18.38%
11.64%
4.77%
12.01%
30.80%
16.76%
9.38%
0.07%
8.18%
16.03%
17.60%
10.24%
0.82%
9.06%
17.02%
to
to
to
to
to
20.21%
13.30%
6.40%
13.72%
32.83%
to 18.64%
to 11.27%
to 1.52%
to 9.90%
to 17.88%
to 17.87%
to 10.41%
to 0.91%
to 9.07%
to 17.04%
17.90%
10.35%
0.87%
9.12%
17.13%
33.73%
10.94%
-2.98%
18.32%
27.96%
Total ReturnC
(lowest to highest)
Units
(000's)
ING Morgan Stanley Global Franchise Portfolio - Adviser Class
2013
3
2012
3
2011
1
2010
(c)
2009
(c)
ING Multi-Manager Large Cap Core Portfolio - Institutional Class
2013
1,721
2012
1,794
2011
1,981
2010
1,963
2009
1,654
ING Multi-Manager Large Cap Core Portfolio - Service Class
2013
25
2012
26
2011
28
2010
46
2009
39
ING PIMCO High Yield Portfolio - Adviser Class
2013
4
2012
5
2011
3
2010
(c)
2009
(c)
ING PIMCO High Yield Portfolio - Institutional Class
2013
2,397
2012
2,180
2011
697
2010
491
2009
278
$11.00
$10.44
$14.47
$13.96
$12.31
to
to
to
to
to
$13.14
$10.24
$9.42
$10.00
$8.83
to
to
to
to
to
$17.24
$16.43
$14.50
$13.98
$12.32
$13.92
$10.73
$9.80
$10.52
$9.13
$15.44
$11.93
$10.90
$11.50
$10.00
263
$11.77
$11.23
$9.91
(c)
(c)
to
to
to
to
to
$13.32
$11.23
$9.77
(c)
(c)
Unit Fair Value
(lowest to highest)
$12.19
$9.41
$8.60
$9.06
$7.87
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
31,115
28,658
10,100
6,858
3,426
46
51
29
(c)
(c)
338
273
271
473
353
24,438
19,631
19,761
20,602
15,047
37
31
15
(c)
(c)
Net Assets
(000's)
6.14%
5.51%
7.87%
7.29%
7.29%
6.19%
5.00%
(c)
(c)
(c)
0.65%
1.47%
1.08%
1.21%
1.73%
0.97%
1.55%
1.67%
1.34%
1.46%
2.94%
4.35%
(c)
(c)
(c)
Investment
Income
RatioA
0.00%
0.00%
0.95%
0.95%
0.95%
0.75%
0.80%
0.80%
0.45%
0.45%
0.00%
0.00%
0.00%
0.00%
0.00%
to
to
to
to
to
0.35%
0.35%
0.35%
(c)
(c)
to
to
to
to
to
to
to
to
to
to
0.35%
0.35%
0.35%
(c)
(c)
1.20%
1.10%
1.00%
1.00%
1.00%
1.50%
1.50%
1.50%
1.55%
1.35%
1.95%
1.95%
1.95%
1.95%
1.95%
Expense RatioB
(lowest to highest)
30.74%
10.53%
-4.24%
16.17%
24.41%
to 29.19%
to 9.49%
to -5.31%
to 15.22%
to 23.00%
to
to
to
to
to
4.64%
13.20%
3.65%
13.40%
48.26%
to 5.83%
to 13.31%
to 3.72%
to 13.47%
to 48.31%
4.81%
13.32%
(c)
(c)
(c)
28.32%
8.70%
-5.85%
14.27%
22.44%
28.10%
8.29%
-6.14%
13.87%
22.54%
18.61%
14.94%
(c)
(c)
(c)
Total ReturnC
(lowest to highest)
ING PIMCO High Yield Portfolio - Service Class
2013
1,517
2012
1,792
2011
1,538
2010
1,397
2009
969
ING T. Rowe Price Capital Appreciation Portfolio - Adviser Class
2013
26
2012
18
2011
15
2010
(c)
2009
(c)
ING T. Rowe Price Capital Appreciation Portfolio - Institutional Class
2013
12,616
2012
10,830
2011
(d)
2010
(d)
2009
(d)
ING T. Rowe Price Capital Appreciation Portfolio - Service Class
2013
25,445
2012
23,795
2011
28,088
2010
25,529
2009
21,112
ING T. Rowe Price Equity Income Portfolio - Adviser Class
2013
109
2012
128
2011
131
2010
121
2009
142
Units
(000's)
to
to
to
to
to
$14.93
$12.33
$10.86
$10.65
$9.42
$20.92
$17.12
$14.95
$14.53
$12.75
$12.74
$10.40
$19.70
$18.65
$16.36
$15.66
$13.71
264
$16.52
$12.82
$11.03
$11.20
$9.81
to
to
(d)
(d)
(d)
$12.66
$10.38
$13.31
$10.97
$9.65
(c)
(c)
to
to
to
to
to
Unit Fair Value
(lowest to highest)
$15.78
$15.08
$13.34
$12.89
$11.37
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
1,793
1,638
1,447
1,354
1,389
489,494
377,748
396,097
352,842
257,927
159,719
112,414
(d)
(d)
(d)
346
195
146
(c)
(c)
27,339
30,849
23,607
20,723
12,663
Net Assets
(000's)
1.34%
1.75%
1.86%
1.31%
1.56%
1.16%
1.56%
1.97%
1.74%
2.05%
1.46%
(d)
(d)
(d)
(d)
1.11%
1.76%
(c)
(c)
(c)
5.94%
6.94%
7.03%
7.21%
8.04%
Investment
Income
RatioA
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.35%
0.35%
0.35%
0.35%
0.35%
to
to
to
to
to
to
to
(d)
(d)
(d)
0.35%
0.35%
0.35%
(c)
(c)
to
to
to
to
to
1.55%
1.55%
1.55%
1.55%
1.55%
0.45%
0.45%
1.50%
1.50%
1.50%
1.50%
1.50%
Expense RatioB
(lowest to highest)
to 5.63%
to 14.08%
to 4.47%
to 14.27%
to 49.41%
to
to
to
to
to
22.22%
14.52%
2.89%
13.97%
33.33%
28.86%
16.23%
-1.52%
14.17%
24.18%
20.31%
12.76%
1.28%
12.32%
31.08%
21.97% to 22.50%
(d)
(d)
(d)
(d)
21.33%
13.68%
(c)
(c)
(c)
4.07%
12.30%
2.85%
12.60%
47.07%
Total ReturnC
(lowest to highest)
Units
(000's)
ING T. Rowe Price Equity Income Portfolio - Service Class
2013
5,436
2012
5,641
2011
6,232
2010
6,508
2009
7,785
ING T. Rowe Price International Stock Portfolio - Adviser Class
2013
12
2012
11
2011
11
2010
9
2009
23
ING T. Rowe Price International Stock Portfolio - Service Class
2013
487
2012
527
2011
564
2010
579
2009
690
ING Templeton Global Growth Portfolio - Institutional Class
2013
39
2012
52
2011
53
2010
52
2009
56
ING Templeton Global Growth Portfolio - Service Class
2013
511
2012
458
2011
438
2010
395
2009
402
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
$8.81
$7.78
$6.61
$7.60
$6.74
$20.02
$15.51
$12.90
$13.78
$12.86
$12.10
$9.34
$7.74
$8.29
$7.75
$14.47
$11.11
$9.14
$9.72
$9.11
$21.46
$16.42
$13.54
$14.41
$13.42
$17.64
$15.43
$12.99
$14.82
$13.02
$26.63
$20.53
$17.51
$17.67
$15.37
265
$10.22
$9.00
$7.63
$8.77
$7.76
to
to
to
to
to
Unit Fair Value
(lowest to highest)
$12.93
$10.06
$8.66
$8.82
$7.73
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
6,959
4,823
3,825
3,693
3,525
813
841
709
735
738
7,898
7,554
6,872
8,102
8,576
120
102
83
81
175
122,461
104,568
100,170
106,214
110,806
Net Assets
(000's)
1.65%
1.78%
1.81%
1.47%
2.24%
1.57%
1.94%
1.80%
1.63%
3.04%
1.06%
0.28%
3.63%
1.37%
1.20%
0.90%
3.66%
0.78%
-
1.61%
1.97%
1.97%
1.54%
1.81%
Investment
Income
RatioA
0.00%
0.00%
0.00%
0.00%
0.00%
0.55%
0.60%
0.60%
0.60%
0.60%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
0.35%
0.35%
0.35%
0.35%
0.35%
to
to
to
to
to
1.50%
1.50%
1.50%
1.50%
1.50%
1.45%
1.45%
1.45%
1.55%
1.75%
1.50%
1.50%
1.50%
1.50%
1.50%
1.65%
1.65%
1.50%
1.65%
1.65%
Expense RatioB
(lowest to highest)
to
to
to
to
to
30.09%
17.25%
-0.89%
15.00%
24.96%
28.73%
19.93%
-7.10%
6.15%
30.21%
29.08%
20.23%
-6.86%
6.33%
30.43%
12.58%
17.02%
-13.67%
12.11%
35.49%
14.39%
18.78%
-12.35%
13.82%
37.63%
to 30.65%
to 21.73%
to -5.69%
to 7.79%
to 32.26%
to 30.21%
to 21.27%
to -6.04%
to 7.38%
to 31.96%
to
to
to
to
to
13.56%
17.96%
-13.00%
13.02%
36.62%
27.59%
15.46%
-2.41%
13.06%
22.83%
Total ReturnC
(lowest to highest)
ING U.S. Stock Index Portfolio - Institutional Class
2013
802
2012
534
2011
532
2010
473
2009
356
ING Money Market Portfolio - Class I
2013
18,772
2012
19,232
2011
21,788
2010
21,616
2009
24,663
ING Global Real Estate Fund - Class A
2013
7
2012
5
2011
4
2010
3
2009
2
ING International Small Cap Fund - Class A
2013
23
2012
25
2011
79
2010
101
2009
117
ING American Century Small-Mid Cap Value Portfolio - Adviser Class
2013
7
2012
8
2011
8
2010
6
2009
5
Units
(000's)
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
$9.87
$10.05
$10.14
$10.23
$10.28
$18.51
$18.11
$14.90
$15.91
$13.97
$20.33
$15.64
$13.14
$15.79
$12.90
$22.67
$17.64
$14.68
$17.82
$14.31
$19.30
$18.72
$15.02
$15.95
$14.00
$56.80
$57.08
$57.32
$57.51
$57.57
$19.93
$15.09
$13.03
$12.80
$11.16
266
$19.68
$15.06
$13.02
$13.53
$11.15
to
to
to
to
to
Unit Fair Value
(lowest to highest)
$13.72
$10.44
$11.84
$11.98
$10.54
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
140
119
110
76
52
500
418
1,134
1,766
1,642
135
92
63
48
24
281,491
295,287
341,904
342,560
403,501
14,396
7,900
6,870
6,021
3,952
Net Assets
(000's)
0.77%
0.87%
1.08%
1.56%
-
1.53%
0.90%
1.38%
0.41%
1.31%
2.64%
5.16%
3.60%
2.78%
(a)
0.03%
0.00%
0.02%
0.30%
2.25%
1.98%
2.11%
1.76%
0.73%
Investment
Income
RatioA
0.00%
0.00%
0.00%
0.00%
0.00%
0.50%
0.50%
0.50%
0.65%
0.50%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.35%
0.35%
0.35%
0.35%
0.35%
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
1.10%
1.35%
1.40%
1.75%
1.75%
1.40%
1.40%
0.80%
0.80%
0.80%
1.85%
1.85%
1.60%
1.85%
2.05%
1.40%
1.25%
1.25%
1.25%
1.25%
Expense RatioB
(lowest to highest)
to
to
to
to
to
32.34%
15.81%
1.80%
14.72%
26.30%
to
to
to
to
to
28.51%
20.16%
-17.62%
24.53%
45.43%
30.68%
15.67%
-3.77%
21.35%
34.66%
27.14%
18.57%
-18.79%
22.40%
42.98%
2.21% to 3.10%
24.30% to 24.63%
-6.35%
13.89%
(a)
-1.79%
-1.53% to 0.07%
-1.51% to 0.06%
-1.61% to 0.29%
-1.69% to 0.35%
30.43%
14.36%
0.50%
13.34%
24.65%
Total ReturnC
(lowest to highest)
Units
(000's)
ING American Century Small-Mid Cap Value Portfolio - Initial Class
2013
1,158
2012
774
2011
2010
(c)
2009
(c)
ING American Century Small-Mid Cap Value Portfolio - Service Class
2013
2,324
2012
2,169
2011
2,497
2010
2,506
2009
2,396
ING Baron Growth Portfolio - Adviser Class
2013
28
2012
96
2011
99
2010
102
2009
97
ING Baron Growth Portfolio - Service Class
2013
6,705
2012
6,184
2011
6,828
2010
6,913
2009
7,089
ING Columbia Contrarian Core Portfolio - Service Class
2013
598
2012
653
2011
730
2010
843
2009
840
to
to
to
to
to
$16.43
$13.08
$10.97
$11.41
$9.42
to
to
to
to
to
to
to
to
to
to
$10.75
$11.46
$9.66
$9.54
$7.60
$12.10
$9.06
$8.15
$8.62
$7.76
$29.32
$21.76
$19.38
$20.33
$18.15
$33.72
$24.57
$20.75
$20.51
$16.37
$29.16
$22.20
$19.08
$19.70
$16.14
$17.25
$13.09
$11.08
267
$20.43
$14.80
$12.44
$12.25
$9.74
to
to
to
(c)
(c)
Unit Fair Value
(lowest to highest)
$13.22
$12.65
$11.01
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
14,676
12,097
11,915
14,440
12,781
186,035
129,571
121,607
122,371
100,316
571
1,419
1,233
1,247
947
57,450
43,640
44,006
45,970
35,995
19,547
10,028
5
(c)
(c)
Net Assets
(000's)
1.41%
0.30%
0.99%
0.40%
0.66%
1.30%
-
0.60%
-
1.13%
1.22%
1.09%
1.09%
1.64%
1.41%
0.02%
(c)
(c)
(c)
Investment
Income
RatioA
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.95%
to
to
to
to
to
to
to
to
to
to
0.35%
0.35%
0.35%
0.35%
0.35%
to
to
to
to
to
to
to
to
(c)
(c)
1.50%
1.50%
1.50%
1.50%
1.50%
1.55%
1.55%
1.55%
1.75%
1.75%
1.50%
1.50%
1.50%
1.50%
1.50%
1.40%
1.40%
1.40%
Expense RatioB
(lowest to highest)
to
to
to
to
to
31.40%
16.40%
-3.13%
22.06%
35.74%
32.75%
10.57%
-6.09%
10.40%
29.62%
36.74%
17.77%
0.69%
24.28%
33.14%
to
to
to
to
to
to
to
to
to
to
34.79%
12.31%
-4.66%
12.01%
31.62%
38.89%
19.72%
2.27%
26.62%
35.21%
38.04%
18.97%
1.55%
25.77%
34.34%
29.40%
14.61%
-4.57%
20.15%
33.70%
29.96% to 31.78%
14.90% to 15.43%
(c)
(c)
(c)
Total ReturnC
(lowest to highest)
Units
(000's)
ING Columbia Small Cap Value II Portfolio - Adviser Class
2013
18
2012
26
2011
25
2010
3
2009
3
ING Columbia Small Cap Value II Portfolio - Service Class
2013
337
2012
293
2011
312
2010
231
2009
174
ING Fidelity® VIP Mid Cap Portfolio - Service Class
2013
333
2012
437
2011
692
2010
1,084
2009
966
ING Global Bond Portfolio - Adviser Class
2013
23
2012
26
2011
29
2010
35
2009
20
ING Global Bond Portfolio - Initial Class
2013
8,054
2012
10,197
2011
11,179
2010
11,430
2009
11,306
$12.33
$12.96
$12.12
$11.79
$10.26
to
to
to
to
to
$14.00
$10.39
$11.51
$13.01
$10.20
to
to
to
to
to
$15.45
$16.05
$14.91
$14.38
$12.40
$18.29
$13.51
$11.82
$13.30
$10.38
$16.45
$11.78
$10.34
$10.66
$8.59
268
$14.27
$15.00
$14.02
$13.62
$11.87
to
to
to
to
to
$14.68
$10.55
$9.29
$9.60
$7.71
Unit Fair Value
(lowest to highest)
$14.58
$10.51
$9.31
$9.81
$8.13
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
113,498
151,398
155,537
154,688
132,935
323
388
413
471
239
4,661
4,543
7,970
14,099
9,850
5,258
3,292
3,093
2,367
1,441
270
279
234
26
21
Net Assets
(000's)
2.06%
6.15%
7.58%
3.10%
4.07%
1.69%
5.74%
7.47%
3.38%
2.82%
0.04%
0.17%
0.52%
4.74%
0.84%
0.25%
0.51%
1.31%
1.17%
0.73%
0.39%
0.77%
(a)
Investment
Income
RatioA
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
to
to
to
to
to
0.35%
0.35%
0.35%
0.35%
0.35%
to
to
to
to
to
to
to
to
to
to
0.35%
0.35%
0.35%
0.35%
0.35%
1.95%
1.95%
1.95%
1.95%
1.95%
0.45%
0.45%
0.50%
0.50%
0.50%
1.50%
1.50%
1.50%
1.50%
1.50%
Expense RatioB
(lowest to highest)
to
to
to
to
to
40.00%
14.14%
-2.65%
24.97%
24.67%
-6.10%
5.04%
1.72%
13.56%
18.29%
to -2.83%
to 7.95%
to 3.76%
to 17.21%
to 22.41%
-4.87%
6.99%
2.94%
14.74%
20.63%
34.74% to 35.38%
14.30%
-11.53% to -11.13%
27.55% to 28.13%
38.59% to 39.33%
37.89%
12.47%
-4.18%
23.49%
22.81%
39.15%
13.56%
-3.23%
24.51%
(a)
Total ReturnC
(lowest to highest)
ING Global Bond Portfolio - Service Class
2013
2012
2011
2010
2009
ING Index Solution 2015 Portfolio - Initial Class
2013
2012
2011
2010
2009
ING Index Solution 2015 Portfolio - Service Class
2013
2012
2011
2010
2009
ING Index Solution 2015 Portfolio - Service 2 Class
2013
2012
2011
2010
2009
ING Index Solution 2025 Portfolio - Initial Class
2013
2012
2011
2010
2009
$11.97
$12.68
$11.94
$11.68
$10.25
$12.69
$11.68
$10.70
$13.13
$11.97
$10.86
$10.78
$12.72
$11.79
$10.88
$10.98
$14.08
$12.14
$10.86
42
20
1
(c)
(c)
41
58
44
5
(b)
90
82
72
62
(b)
73
32
6
(c)
(c)
to
to
to
(c)
(c)
to
to
to
to
(b)
to
to
to
to
(b)
to
to
to
(c)
(c)
to
to
to
to
to
269
$17.87
$15.12
$13.48
$13.51
$12.33
$11.16
$11.11
$15.49
$14.23
$13.01
$13.00
$15.67
$14.37
$13.08
$13.18
$13.98
$13.18
$12.93
$11.36
Unit Fair Value
(lowest to highest)
76
98
72
90
58
Units
(000's)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
1,238
476
78
(c)
(c)
1,185
981
798
687
(b)
586
787
552
55
(b)
631
270
11
(c)
(c)
955
1,301
891
1,077
609
Net Assets
(000's)
1.63%
2.17%
(c)
(c)
(c)
2.12%
1.80%
2.29%
(b)
(b)
1.46%
1.79%
0.99%
(b)
(b)
2.66%
2.14%
(c)
(c)
(c)
1.68%
5.93%
10.87%
2.73%
5.09%
Investment
Income
RatioA
0.30%
0.95%
0.95%
0.00%
0.00%
0.20%
0.20%
0.00%
0.00%
0.00%
0.00%
0.30%
0.80%
0.95%
0.00%
0.00%
0.25%
0.35%
0.35%
to
to
to
(c)
(c)
to
to
to
to
(b)
to
to
to
to
(b)
to
to
to
(c)
(c)
to
to
to
to
to
1.40%
1.40%
1.40%
1.55%
1.55%
1.55%
1.55%
1.20%
0.80%
0.75%
0.75%
1.40%
1.40%
1.40%
1.50%
1.50%
1.50%
1.50%
1.50%
Expense RatioB
(lowest to highest)
to 9.69%
to 10.22%
to 0.74%
(b)
(b)
to 9.05%
to 9.40%
(c)
(c)
(c)
to -4.30%
to 7.38%
to 3.12%
to 15.15%
to 20.85%
15.72% to 16.27%
11.73% to 12.17%
(c)
(c)
(c)
7.89% to 9.57%
8.36% to 9.86%
-0.91% to 0.45%
(b)
(b)
8.80%
9.38%
0.08%
8.41%
9.01%
-5.72%
6.07%
1.93%
13.82%
19.58%
Total ReturnC
(lowest to highest)
ING Index Solution 2025 Portfolio - Service Class
2013
2012
2011
2010
2009
ING Index Solution 2025 Portfolio - Service 2 Class
2013
2012
2011
2010
2009
ING Index Solution 2035 Portfolio - Initial Class
2013
2012
2011
2010
2009
ING Index Solution 2035 Portfolio - Service Class
2013
2012
2011
2010
2009
ING Index Solution 2035 Portfolio - Service 2 Class
2013
2012
2011
2010
2009
$14.56
$12.44
$11.00
$11.17
$14.16
$12.30
$11.07
$11.44
$15.42
$15.41
$13.53
$15.42
$12.64
$10.98
$11.35
$15.03
$12.54
$11.07
$11.64
257
204
178
132
(b)
72
24
3
(c)
(c)
30
13
7
2
(b)
165
141
139
92
(b)
to
to
to
to
(b)
to
to
to
to
(b)
to
to
to
(c)
(c)
to
to
to
to
(b)
to
to
to
to
(b)
270
$15.96
$13.11
$11.38
$11.79
$18.77
$15.50
$13.57
$14.13
$19.54
$15.59
$13.63
$15.04
$12.87
$11.36
$11.58
$17.47
$15.04
$13.40
$13.71
Unit Fair Value
(lowest to highest)
64
6
4
2
(b)
Units
(000's)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
2,576
1,815
1,557
1,083
(b)
504
169
80
22
(b)
1,305
372
42
(c)
(c)
3,767
2,563
2,003
1,519
(b)
1,101
87
49
28
(b)
Net Assets
(000's)
1.23%
1.13%
1.59%
(b)
(b)
1.19%
0.80%
1.96%
(b)
(b)
1.19%
1.45%
(c)
(c)
(c)
1.58%
1.36%
1.87%
(b)
(b)
1.68%
1.47%
5.19%
(b)
(b)
Investment
Income
RatioA
0.00%
0.00%
0.10%
0.10%
0.00%
0.00%
0.00%
0.00%
0.00%
0.95%
0.95%
0.00%
0.00%
0.20%
0.20%
0.00%
0.00%
0.00%
0.00%
to
to
to
to
(b)
to
to
to
to
(b)
to
to
to
(c)
(c)
to
to
to
to
(b)
to
to
to
to
(b)
1.55%
1.55%
1.55%
1.55%
1.20%
0.80%
0.75%
0.75%
1.40%
1.40%
1.40%
1.55%
1.55%
1.55%
1.55%
1.20%
0.75%
0.75%
0.75%
Expense RatioB
(lowest to highest)
19.86% to 21.74%
13.28% to 14.94%
-4.90% to -3.48%
(b)
(b)
20.99% to 21.99%
14.22% to 15.12%
-3.96% to -3.26%
(b)
(b)
20.64% to 21.17%
13.90% to 14.38%
(c)
(c)
(c)
15.12% to 16.86%
11.11% to 12.59%
-3.23% to -1.90%
(b)
(b)
16.16% to 17.04%
12.24% to 13.09%
-2.26% to -1.52%
(b)
(b)
Total ReturnC
(lowest to highest)
ING Index Solution 2045 Portfolio - Initial Class
2013
2012
2011
2010
2009
ING Index Solution 2045 Portfolio - Service Class
2013
2012
2011
2010
2009
ING Index Solution 2045 Portfolio - Service 2 Class
2013
2012
2011
2010
2009
ING Index Solution 2055 Portfolio - Initial Class
2013
2012
2011
2010
2009
ING Index Solution 2055 Portfolio - Service Class
2013
2012
2011
2010
2009
$15.87
$15.86
$13.85
$15.93
$12.84
$11.08
$11.56
$15.50
$12.71
$11.16
$11.85
$15.31
$12.50
$15.12
$12.44
$10.87
$11.51
20
2
2
(b)
114
101
81
49
(b)
10
2
(c)
(c)
16
16
6
(b)
$16.47
$13.30
$11.47
$12.00
$19.65
$15.95
$13.87
$14.57
$20.44
$16.05
$13.94
to
to
to
to
(b)
271
$15.97
$12.86
$11.10
$11.58
to
$16.02
to
$12.64
$10.98
(c)
(c)
to
to
to
to
(b)
to
to
to
to
(b)
to
to
to
(c)
(c)
Unit Fair Value
(lowest to highest)
20
3
1
(c)
(c)
Units
(000's)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
246
202
64
3
(b)
153
20
(c)
(c)
1,821
1,308
923
584
(b)
365
34
19
1
(b)
380
48
17
(c)
(c)
Net Assets
(000's)
0.45%
(b)
(b)
1.16%
(c)
(c)
(c)
1.02%
1.08%
1.19%
(b)
(b)
1.00%
(b)
(b)
1.40%
(c)
(c)
(c)
Investment
Income
RatioA
0.00%
0.00%
0.00%
0.00%
0.15%
0.95%
0.00%
0.00%
0.10%
0.10%
0.00%
0.00%
0.00%
0.00%
0.00%
0.95%
0.95%
1.55%
1.55%
1.55%
1.55%
1.20%
0.80%
0.80%
0.75%
1.40%
1.40%
1.40%
to
to
to
to
(b)
1.50%
1.25%
1.25%
0.95%
to 1.40%
to 1.35%
0.95%
(c)
(c)
to
to
to
to
(b)
to
to
to
to
(b)
to
to
to
(c)
(c)
Expense RatioB
(lowest to highest)
22.59% to 24.18%
14.44% to 15.86%
-5.04% to -4.15%
(b)
(b)
22.72% to 23.10%
15.12%
(c)
(c)
(c)
21.95% to 23.83%
13.89% to 15.61%
-5.82% to -4.42%
(b)
(b)
23.10% to 24.07%
14.94% to 15.88%
-4.80% to -4.15%
(b)
(b)
22.64% to 23.12%
14.51% to 15.14%
(c)
(c)
(c)
Total ReturnC
(lowest to highest)
ING Index Solution 2055 Portfolio - Service 2 Class
2013
2012
2011
2010
2009
ING Index Solution Income Portfolio - Initial Class
2013
2012
2011
2010
2009
ING Index Solution Income Portfolio - Service Class
2013
2012
2011
2010
2009
ING Index Solution Income Portfolio - Service 2 Class
2013
2012
2011
2010
2009
ING Invesco Comstock Portfolio - Adviser Class
2013
2012
2011
2010
2009
$12.66
$12.68
$11.77
$10.84
$12.19
$11.50
$10.78
$10.68
1
(e)
(e)
(e)
(e)
58
84
51
(c)
(c)
21
19
17
15
(b)
27
27
28
29
30
$15.01
$12.30
$10.87
$12.95
$11.86
$10.97
$10.76
$14.49
$13.55
$12.59
$14.45
272
$16.55
$12.32
$10.45
$10.74
$9.39
to
to
to
to
(b)
to
to
to
(c)
(c)
to
(e)
(e)
(e)
(e)
to
$15.89
to
$12.82
to
$10.97
$11.51
(b)
Unit Fair Value
(lowest to highest)
14
7
5
(b)
Units
(000's)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
444
334
297
307
284
259
226
186
160
(b)
833
1,133
645
(c)
(c)
10
(e)
(e)
(e)
(e)
217
92
53
(b)
Net Assets
(000's)
0.51%
0.95%
1.32%
1.02%
2.04%
2.89%
2.91%
2.89%
(b)
(b)
3.56%
2.02%
(c)
(c)
(c)
(e)
(e)
(e)
(e)
(e)
0.65%
(b)
(b)
Investment
Income
RatioA
0.00%
0.50%
0.60%
0.65%
0.00%
0.00%
0.00%
0.30%
0.00%
0.00%
0.60%
0.90%
0.35%
0.35%
0.35%
0.35%
0.35%
to
to
to
to
(b)
to
to
to
(c)
(c)
to
(e)
(e)
(e)
(e)
to
to
to
to
(b)
1.55%
1.55%
1.55%
1.55%
0.80%
0.80%
0.80%
1.25%
1.55%
1.55%
1.15%
0.95%
Expense RatioB
(lowest to highest)
6.00%
6.68%
0.94%
6.94%
7.63%
34.33%
17.89%
-2.70%
14.38%
27.76%
to 7.08%
to 7.76%
to 1.86%
(b)
(b)
to 7.73%
to 8.58%
(c)
(c)
(c)
(e)
(e)
(e)
(e)
(e)
22.03% to 23.95%
14.35% to 14.89%
-5.21%
(b)
(b)
Total ReturnC
(lowest to highest)
ING Invesco Comstock Portfolio - Service Class
2013
2012
2011
2010
2009
ING Invesco Equity and Income Portfolio - Adviser Class
2013
2012
2011
2010
2009
ING Invesco Equity and Income Portfolio - Initial Class
2013
2012
2011
2010
2009
ING Invesco Equity and Income Portfolio - Service Class
2013
2012
2011
2010
2009
ING JPMorgan Mid Cap Value Portfolio - Adviser Class
2013
2012
2011
2010
2009
$52.41
$42.58
$38.32
$39.32
$35.54
6
6
6
5
4
19
23
25
31
29
$13.78
$11.13
$9.95
$10.15
$9.11
$13.42
$10.03
$8.53
$8.79
$7.70
$54.02
$43.78
$39.30
$40.23
$36.27
$19.26
$15.37
$13.67
$13.81
$12.30
$22.70
$17.01
$14.49
$14.95
$13.12
273
$19.48
$14.90
$12.49
$12.33
$10.09
to
to
to
to
to
to
to
to
to
to
$16.35
$13.20
$11.80
$12.03
$10.80
to
to
to
to
to
Unit Fair Value
(lowest to highest)
15,175
16,784
18,261
19,572
21,103
50
54
55
43
46
3,594
3,281
3,682
4,016
4,478
Units
(000's)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
364
348
308
378
292
300
277
229
214
149
260,310
232,827
228,833
249,741
240,779
811
712
649
523
492
69,828
48,799
46,669
52,549
51,283
Net Assets
(000's)
0.28%
0.61%
0.58%
0.60%
1.12%
1.04%
1.98%
2.26%
1.65%
1.31%
1.40%
2.34%
2.23%
1.82%
1.87%
1.05%
1.62%
2.05%
1.38%
1.50%
0.81%
1.24%
1.37%
1.29%
2.28%
Investment
Income
RatioA
1.00%
1.00%
1.00%
1.00%
1.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.35%
0.35%
0.35%
0.35%
0.35%
to
to
to
to
to
to
to
to
to
to
0.35%
0.35%
0.35%
0.35%
0.35%
to
to
to
to
to
1.25%
1.25%
1.25%
1.25%
1.25%
1.95%
1.95%
1.95%
1.95%
1.95%
1.95%
1.95%
1.95%
1.95%
1.95%
Expense RatioB
(lowest to highest)
to
to
to
to
to
35.10%
18.73%
-2.12%
15.17%
28.60%
to
to
to
to
to
to
to
to
to
to
23.39%
11.40%
-2.31%
10.92%
21.14%
30.53%
12.81%
-1.01%
17.25%
25.89%
30.74%
19.30%
1.30%
22.20%
24.88%
23.09%
11.12%
-2.54%
10.64%
20.84%
20.81%
5.06%
-3.03%
10.19%
14.24%
23.86%
11.86%
-1.91%
11.39%
21.62%
32.35%
16.31%
-3.92%
12.86%
25.95%
Total ReturnC
(lowest to highest)
ING JPMorgan Mid Cap Value Portfolio - Initial Class
2013
2012
2011
2010
2009
ING JPMorgan Mid Cap Value Portfolio - Service Class
2013
2012
2011
2010
2009
ING Oppenheimer Global Portfolio - Adviser Class
2013
2012
2011
2010
2009
ING Oppenheimer Global Portfolio - Initial Class
2013
2012
2011
2010
2009
ING Oppenheimer Global Portfolio - Service Class
2013
2012
2011
2010
2009
$12.67
$10.06
$8.34
$9.16
$7.95
$21.09
$16.83
$14.05
$15.53
$13.58
33,227
36,131
40,001
43,210
46,362
49
47
44
41
35
to
to
to
to
to
to
to
to
to
to
$21.71
$17.29
$14.39
$15.87
$13.84
$21.19
$16.66
$13.73
$14.94
$12.86
$31.20
$23.72
$19.76
$19.41
$15.78
274
$16.92
$13.43
$11.12
$12.21
$10.61
to
to
to
to
to
2,217
1,951
1,760
1,790
1,864
36
45
46
40
36
$13.19
$10.09
(d)
(d)
(d)
$15.51
$11.89
$10.00
$9.91
$8.12
Unit Fair Value
(lowest to highest)
375
90
(d)
(d)
(d)
Units
(000's)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
1,061
815
638
647
486
621,059
540,715
498,449
591,369
549,793
609
601
515
483
383
60,174
40,437
30,683
30,952
26,549
4,945
904
(d)
(d)
(d)
Net Assets
(000's)
1.17%
1.10%
1.40%
1.41%
2.12%
1.36%
1.29%
1.52%
1.57%
2.38%
0.99%
0.90%
1.20%
1.39%
1.61%
0.65%
0.76%
0.83%
0.77%
1.24%
1.27%
(d)
(d)
(d)
(d)
Investment
Income
RatioA
1.00%
1.00%
1.00%
1.00%
1.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
to
to
to
to
to
to
to
to
to
to
0.35%
0.35%
0.35%
0.35%
0.35%
to
to
to
to
to
0.95%
0.95%
(d)
(d)
(d)
1.25%
1.25%
1.25%
1.25%
1.25%
1.80%
1.80%
1.65%
1.80%
1.95%
1.55%
1.55%
1.50%
1.55%
1.55%
Expense RatioB
(lowest to highest)
to
to
to
to
to
31.58%
20.04%
1.88%
23.01%
25.73%
25.31%
19.79%
-9.53%
14.36%
37.59%
17.76%
15.61%
-9.60%
14.05%
29.29%
to
to
to
to
to
to
to
to
to
to
25.56%
20.15%
-9.33%
14.67%
37.99%
32.35%
21.70%
-8.10%
21.88%
44.58%
25.99%
20.77%
-8.93%
15.08%
38.51%
29.54%
18.23%
0.29%
21.11%
23.68%
30.72%
(d)
(d)
(d)
(d)
Total ReturnC
(lowest to highest)
ING PIMCO Total Return Portfolio - Adviser Class
2013
2012
2011
2010
2009
ING PIMCO Total Return Portfolio - Initial Class
2013
2012
2011
2010
2009
ING PIMCO Total Return Portfolio - Service Class
2013
2012
2011
2010
2009
ING Pioneer High Yield Portfolio - Initial Class
2013
2012
2011
2010
2009
ING Pioneer High Yield Portfolio - Service Class
2013
2012
2011
2010
2009
$12.90
$13.27
$12.41
$12.13
$11.37
$17.14
$15.39
$13.37
$13.58
$11.50
$18.20
$16.41
$14.41
$14.71
$12.57
12,726
15,755
15,317
15,339
12,634
1,896
1,358
1,281
1,177
1,047
36
27
27
25
14
to
to
to
to
to
to
to
to
to
to
$19.81
$17.31
$15.25
$15.45
$13.06
$20.60
$18.34
$15.78
$15.89
$13.35
$18.01
$18.35
$17.01
$16.48
$15.32
$11.09
$11.07
$10.29
275
to
to
to
(c)
(c)
$10.58
$10.91
$10.22
105
29
8
(c)
(c)
to
to
to
to
to
$14.58
$14.94
$13.93
$13.58
$12.70
Unit Fair Value
(lowest to highest)
137
179
185
147
96
Units
(000's)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
698
466
393
370
181
35,918
23,376
19,191
17,901
13,508
201,227
255,966
232,928
227,651
175,181
1,138
322
78
(c)
(c)
1,995
2,675
2,578
1,991
1,215
Net Assets
(000's)
4.30%
5.82%
5.50%
5.44%
6.87%
4.80%
6.02%
6.17%
6.06%
6.43%
3.35%
3.07%
2.92%
3.41%
3.28%
2.60%
5.00%
(c)
(c)
(c)
3.13%
2.97%
2.89%
3.43%
3.17%
Investment
Income
RatioA
0.25%
0.60%
0.35%
0.35%
0.35%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.80%
0.95%
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
(c)
(c)
0.35%
0.35%
0.35%
0.35%
0.35%
1.35%
1.40%
1.35%
1.40%
1.40%
1.95%
1.95%
1.95%
1.95%
1.95%
1.95%
1.95%
1.95%
1.95%
1.95%
1.40%
1.40%
1.40%
Expense RatioB
(lowest to highest)
10.68%
14.35%
-2.31%
17.02%
64.31%
10.14%
13.96%
-2.62%
16.67%
64.58%
-3.80%
5.80%
1.25%
5.45%
10.40%
to
to
to
to
to
to
to
to
to
to
11.38%
15.08%
-1.29%
18.30%
65.47%
12.34%
16.22%
-0.69%
19.10%
67.08%
to -1.85%
to 7.92%
to 3.26%
to 7.58%
to 12.68%
-3.02% to -2.44%
6.75% to 7.19%
(c)
(c)
(c)
-2.41%
7.25%
2.58%
6.93%
11.99%
Total ReturnC
(lowest to highest)
ING Solution 2015 Portfolio - Adviser Class
2013
2012
2011
2010
2009
ING Solution 2015 Portfolio - Initial Class
2013
2012
2011
2010
2009
ING Solution 2015 Portfolio - Service Class
2013
2012
2011
2010
2009
ING Solution 2015 Portfolio - Service 2 Class
2013
2012
2011
2010
2009
ING Solution 2025 Portfolio - Adviser Class
2013
2012
2011
2010
2009
$12.93
$12.05
$11.00
$11.27
756
855
1,241
1,297
(b)
$11.11
$9.82
$11.29
$10.44
$9.45
$9.61
$8.71
4,916
5,266
5,226
4,993
4,158
36
35
36
32
1,753
$11.18
$10.26
$11.31
$11.45
$10.26
$13.73
$12.60
$11.33
$11.42
$15.00
$13.75
$12.33
$12.42
$11.17
$11.25
$10.28
276
$13.96
$12.07
$10.70
to
$12.08
to
$10.64
to
to
to
to
(b)
to
to
to
to
to
to
to
(d)
(d)
(d)
$13.59
$12.52
to
$12.12
to
$12.23
to
$11.03
Unit Fair Value
(lowest to highest)
158
124
(d)
(d)
(d)
68
70
71
45
1,347
Units
(000's)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
508
427
387
351
18,118
10,144
10,582
13,912
14,738
(b)
67,703
67,178
60,328
58,754
44,359
1,766
1,276
(d)
(d)
(d)
919
874
805
512
14,444
Net Assets
(000's)
1.93%
2.46%
1.90%
0.05%
3.06%
3.01%
3.80%
3.32%
(b)
(b)
3.22%
4.26%
3.23%
2.36%
3.84%
3.75%
(d)
(d)
(d)
(d)
3.01%
3.93%
2.89%
0.09%
3.68%
Investment
Income
RatioA
to
to
to
to
(b)
to
to
to
to
to
to
to
(d)
(d)
(d)
1.55%
1.55%
1.55%
1.55%
1.50%
1.50%
1.50%
1.50%
1.50%
0.45%
0.45%
0.35%
0.35%
0.35%
0.00% to 0.95%
0.00% to 1.55%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.35%
0.35%
0.00% to 0.35%
0.00% to 0.65%
0.00% to 1.55%
Expense RatioB
(lowest to highest)
to 9.16%
to 11.53%
to -0.68%
to 11.39%
to 22.39%
to 9.44%
(d)
(d)
(d)
(d)
15.66%
12.80%
-3.69%
12.38% to 13.53%
23.44% to 25.32%
7.30% to 8.97%
9.55% to 11.21%
-2.40% to -0.79%
(b)
(b)
7.48%
9.77%
-2.19%
9.61%
20.49%
8.97%
8.55%
10.70%
-1.22% to -0.90%
10.19% to 10.88%
20.28% to 22.15%
Total ReturnC
(lowest to highest)
ING Solution 2025 Portfolio - Initial Class
2013
2012
2011
2010
2009
ING Solution 2025 Portfolio - Service Class
2013
2012
2011
2010
2009
ING Solution 2025 Portfolio - Service 2 Class
2013
2012
2011
2010
2009
ING Solution 2035 Portfolio - Adviser Class
2013
2012
2011
2010
2009
ING Solution 2035 Portfolio - Initial Class
2013
2012
2011
2010
2009
$14.25
$12.47
$11.17
$11.73
1,019
1,219
1,727
1,708
(b)
142
125
(d)
(d)
(d)
$12.52
$10.42
$11.13
$9.77
$11.28
$9.79
$8.71
$9.07
$8.03
9,043
8,785
8,260
7,451
6,278
15
22
32
34
1,547
$12.01
$10.35
$15.14
$13.04
$11.51
$11.89
$15.69
$13.48
$11.89
$12.27
$10.78
$12.09
$10.37
to
to
(d)
(d)
(d)
277
$12.59
$10.43
$14.45
$12.07
$10.55
to
$11.56
to
$10.71
to
to
to
to
(b)
to
to
to
to
to
to
to
(d)
(d)
(d)
Unit Fair Value
(lowest to highest)
66
50
(d)
(d)
(d)
Units
(000's)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
1,783
1,299
(d)
(d)
(d)
215
266
338
379
16,062
15,044
15,599
19,675
20,208
(b)
131,426
110,500
92,206
86,539
64,506
788
521
(d)
(d)
(d)
Net Assets
(000's)
2.08%
(d)
(d)
(d)
(d)
1.25%
1.99%
1.12%
0.05%
2.66%
2.10%
2.31%
2.22%
(b)
(b)
2.28%
2.73%
2.18%
1.58%
3.13%
2.60%
(d)
(d)
(d)
(d)
Investment
Income
RatioA
to
to
to
to
(b)
to
to
to
to
to
to
to
(d)
(d)
(d)
1.55%
1.55%
1.55%
1.55%
1.50%
1.50%
1.50%
1.50%
1.50%
0.45%
0.45%
0.00%
0.00%
to
to
(d)
(d)
(d)
0.45%
0.45%
0.35%
0.35%
0.35%
0.35% to 1.00%
0.00% to 1.55%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Expense RatioB
(lowest to highest)
to
to
to
to
to
16.39%
13.49%
-3.03%
13.82%
25.93%
20.15% to 20.71%
(d)
(d)
(d)
(d)
19.72%
14.41%
-5.21%
13.11% to 13.92%
26.08% to 28.11%
14.27% to 16.10%
11.61% to 13.29%
-4.77% to -3.20%
(b)
(b)
14.56%
11.77%
-4.53%
12.04%
23.86%
16.04% to 16.59%
(d)
(d)
(d)
(d)
Total ReturnC
(lowest to highest)
ING Solution 2035 Portfolio - Service Class
2013
2012
2011
2010
2009
ING Solution 2035 Portfolio - Service 2 Class
2013
2012
2011
2010
2009
ING Solution 2045 Portfolio - Adviser Class
2013
2012
2011
2010
2009
ING Solution 2045 Portfolio - Initial Class
2013
2012
2011
2010
2009
ING Solution 2045 Portfolio - Service Class
2013
2012
2011
2010
2009
$12.86
$11.28
$9.22
$8.06
$8.57
$7.51
102
77
(d)
(d)
(d)
5,814
5,506
4,993
4,246
3,511
$9.58
$14.98
$12.66
$11.18
$11.93
889
1,165
1,444
1,425
(b)
7
10
11
7
1,072
$11.38
$9.54
$8.36
$8.85
$7.78
$15.91
$13.24
$11.52
$12.10
$16.41
$13.64
$11.85
$12.42
$10.84
to
to
to
to
to
278
$16.82
$13.63
$11.80
$12.44
$10.81
to
$12.94
$10.44
(d)
(d)
(d)
$14.56
$11.87
$10.34
$10.97
to
$10.68
to
to
to
to
(b)
to
to
to
to
to
Unit Fair Value
(lowest to highest)
8,079
7,612
6,862
5,947
5,065
Units
(000's)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
90,698
70,077
55,372
49,958
36,075
1,313
803
(d)
(d)
(d)
108
117
115
80
11,165
13,788
15,155
16,464
17,154
(b)
123,072
96,949
76,467
70,002
52,312
Net Assets
(000's)
1.67%
1.84%
1.22%
0.90%
2.34%
1.98%
(d)
(d)
(d)
(d)
1.78%
1.72%
1.03%
0.02%
2.16%
1.62%
1.94%
1.68%
(b)
(b)
1.90%
2.16%
1.61%
1.19%
2.79%
Investment
Income
RatioA
to
to
to
to
(b)
to
to
to
to
to
1.55%
1.55%
1.55%
1.55%
1.50%
1.50%
1.50%
1.50%
1.50%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
to
to
to
to
to
1.50%
1.50%
1.50%
1.50%
1.50%
to 0.45%
0.45%
(d)
(d)
(d)
0.35%
0.35%
0.35%
0.35%
0.00% to 1.55%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Expense RatioB
(lowest to highest)
to
to
to
to
to
20.66%
15.11%
-4.55%
14.58%
28.44%
21.56%
13.76%
-6.56%
13.39%
27.92%
to
to
to
to
to
23.77%
15.51%
-5.12%
15.17%
29.93%
23.18%
(d)
(d)
(d)
(d)
22.66%
14.80%
-5.74%
14.51%
27.31% to 29.30%
18.33% to 20.17%
13.24% to 14.93%
-6.29% to -4.79%
(b)
(b)
18.60%
13.34%
-6.05%
12.86%
26.47%
Total ReturnC
(lowest to highest)
ING Solution 2045 Portfolio - Service 2 Class
2013
2012
2011
2010
2009
ING Solution 2055 Portfolio - Initial Class
2013
2012
2011
2010
2009
ING Solution 2055 Portfolio - Service Class
2013
2012
2011
2010
2009
ING Solution 2055 Portfolio - Service 2 Class
2013
2012
2011
2010
2009
ING Solution Balanced Portfolio - Service Class
2013
2012
2011
2010
2009
$11.51
$10.10
$9.02
$9.39
$8.45
295
219
193
131
86
to
to
to
to
to
$12.35
$10.71
$9.44
$9.70
$8.63
$15.64
$12.68
$11.00
$11.61
$15.73
$12.73
$11.02
$11.62
$16.44
$13.34
$11.56
$12.22
279
$14.86
$12.22
$10.74
$11.51
45
35
24
15
(b)
to
to
to
to
(b)
to
to
to
to
(b)
$14.28
$11.67
$10.20
$11.50
489
272
130
19
(b)
to
to
to
to
(b)
$15.60
$12.65
(d)
(d)
(d)
$15.47
$12.75
$11.22
$12.05
Unit Fair Value
(lowest to highest)
10
10
(d)
(d)
(d)
512
881
1,168
1,142
(b)
Units
(000's)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
3,502
2,273
1,775
1,246
737
683
438
259
174
(b)
7,472
3,384
1,414
222
(b)
155
124
(d)
(d)
(d)
8,217
11,546
13,383
13,890
(b)
Net Assets
(000's)
2.15%
1.63%
0.33%
1.11%
0.66%
1.07%
0.86%
0.46%
(b)
(b)
1.20%
1.04%
0.37%
(b)
(b)
1.43%
(d)
(d)
(d)
(d)
1.31%
1.54%
1.25%
(b)
(b)
Investment
Income
RatioA
0.25%
0.25%
0.25%
0.25%
0.25%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.05%
0.05%
0.00%
0.00%
0.00%
0.00%
to
to
to
to
to
to
to
to
to
(b)
to
to
to
to
(b)
0.45%
0.45%
(d)
(d)
(d)
to
to
to
to
(b)
1.50%
1.50%
1.50%
1.50%
1.50%
1.40%
1.40%
1.45%
1.25%
1.50%
1.50%
1.50%
1.50%
1.55%
1.55%
1.55%
1.55%
Expense RatioB
(lowest to highest)
13.92%
11.97%
-3.94%
11.11%
22.87%
to
to
to
to
to
15.36%
13.45%
-2.68%
12.40%
23.99%
21.60% to 23.34%
13.77% to 15.27%
-6.43% to -5.25%
(b)
(b)
21.65% to 23.57%
13.86% to 15.52%
-6.52% to -5.16%
(b)
(b)
23.32%
(d)
(d)
(d)
(d)
21.33% to 23.24%
13.64% to 15.40%
-6.89% to -5.40%
(b)
(b)
Total ReturnC
(lowest to highest)
ING Solution Income Portfolio - Adviser Class
2013
16
2012
20
2011
25
2010
84
2009
776
ING Solution Income Portfolio - Initial Class
2013
234
2012
193
2011
(d)
2010
(d)
2009
(d)
ING Solution Income Portfolio - Service Class
2013
1,106
2012
1,014
2011
1,144
2010
1,044
2009
852
ING Solution Income Portfolio - Service 2 Class
2013
110
2012
173
2011
241
2010
458
2009
(b)
ING Solution Moderately Conservative Portfolio - Service Class
2013
412
2012
326
2011
305
2010
247
2009
167
Units
(000's)
to
to
(d)
(d)
(d)
to
to
to
to
to
to
to
to
to
(b)
to
to
to
to
to
$10.90
$10.20
$11.99
$11.31
$10.40
$10.46
$9.63
$12.31
$11.68
$10.80
$10.93
$11.53
$10.68
$9.68
$9.90
$9.04
280
$12.37
$11.32
$10.14
$10.23
$9.22
$13.00
$12.17
$11.10
$11.07
$14.81
$13.84
$12.61
$12.57
$11.47
$10.97
$10.22
$13.81
$12.99
$11.90
to
$12.20
to
$11.32
Unit Fair Value
(lowest to highest)
$11.92
$10.61
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
4,900
3,570
3,018
2,487
1,529
1,395
2,070
2,646
5,049
(b)
15,119
13,244
13,757
12,512
9,378
2,555
1,968
(d)
(d)
(d)
221
257
303
998
8,576
Net Assets
(000's)
2.79%
1.85%
0.54%
1.49%
0.93%
3.75%
4.41%
3.22%
(b)
(b)
3.65%
5.01%
3.92%
3.39%
5.44%
3.45%
(d)
(d)
(d)
(d)
3.35%
3.93%
2.00%
0.63%
5.19%
Investment
Income
RatioA
0.25%
0.25%
0.25%
0.25%
0.25%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
to
to
to
to
to
to
to
to
to
(b)
to
to
to
to
to
to
to
(d)
(d)
(d)
1.50%
1.50%
1.50%
1.50%
1.50%
1.40%
1.40%
1.45%
1.40%
1.50%
1.50%
1.50%
1.50%
1.50%
0.45%
0.45%
0.35%
0.35%
0.35%
0.25% to 0.40%
0.00% to 1.40%
Expense RatioB
(lowest to highest)
to 7.01%
to 9.75%
to 0.42%
to 9.78%
to 17.28%
to 7.34%
(d)
(d)
(d)
(d)
7.96%
10.33%
-2.22%
9.51%
18.61%
to 9.28%
to 11.64%
to -0.88%
to 10.95%
to 19.90%
5.38% to 6.82%
8.05% to 9.64%
-1.10% to 0.27%
(b)
(b)
5.35%
8.15%
-1.13%
7.95%
15.44%
6.86%
6.31%
9.16%
-0.17%
8.82% to 9.03%
15.42% to 16.94%
Total ReturnC
(lowest to highest)
281
Units
Unit Fair Value
(000's)
(lowest to highest)
ING T. Rowe Price Diversified Mid Cap Growth Portfolio - Adviser Class
2013
20
$19.52
2012
32
$14.57
2011
32
$12.64
2010
34
$13.24
2009
30
$10.40
ING T. Rowe Price Diversified Mid Cap Growth Portfolio - Initial Class
2013
18,991
$15.09 to
$23.21
2012
20,973
$11.26 to
$17.17
2011
22,944
$9.79
to
$14.79
2010
24,412
$10.25 to
$15.35
2009
25,435
$8.04
to
$11.95
ING T. Rowe Price Diversified Mid Cap Growth Portfolio - Service Class
2013
48
$14.67 to
$22.20
2012
43
$11.02 to
$16.48
2011
47
$9.63
to
$14.22
2010
43
$10.15 to
$14.80
2009
36
$8.02
to
$11.55
ING T. Rowe Price Growth Equity Portfolio - Adviser Class
2013
83
$18.89
2012
89
$13.68
2011
98
$11.60
2010
101
$11.83
2009
105
$10.21
ING T. Rowe Price Growth Equity Portfolio - Initial Class
2013
9,672
$14.77 to
$45.48
2012
9,885
$10.71 to
$32.97
2011
9,608
$9.08
to
$28.03
2010
10,050
$9.27
to
$28.62
2009
10,235
$7.99
to
$24.73
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
389
465
409
451
313
393,263
324,303
309,528
345,307
281,756
859
586
580
562
368
1,561
1,224
1,139
1,195
1,070
326,039
247,651
208,716
223,428
200,867
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
Net Assets
(000's)
0.02%
0.17%
0.04%
0.17%
-
0.14%
0.17%
0.18%
0.31%
0.29%
0.52%
0.35%
0.28%
0.43%
0.23%
0.23%
-
Investment
Income
RatioA
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
to
to
to
to
to
0.35%
0.35%
0.35%
0.35%
0.35%
to
to
to
to
to
to
to
to
to
to
0.35%
0.35%
0.35%
0.35%
0.35%
1.50%
1.50%
1.50%
1.50%
1.50%
1.30%
1.30%
1.25%
1.25%
1.25%
1.50%
1.50%
1.50%
1.50%
1.50%
Expense RatioB
(lowest to highest)
to
to
to
to
to
to
to
to
to
to
34.71%
15.89%
-3.92%
28.14%
46.02%
38.68%
16.10%
-3.64%
31.82%
52.34%
37.17%
17.11%
-2.57%
15.11%
40.83%
to
to
to
to
to
39.28%
18.92%
-1.06%
16.88%
43.01%
38.08%
17.93%
-1.94%
15.87%
41.81%
33.06%
14.43%
-5.12%
26.47%
44.22%
29.45%
11.41%
-5.15%
26.65%
40.28%
33.97%
15.27%
-4.53%
27.31%
45.05%
Total ReturnC
(lowest to highest)
Units
(000's)
ING T. Rowe Price Growth Equity Portfolio - Service Class
2013
182
2012
176
2011
156
2010
152
2009
140
ING Templeton Foreign Equity Portfolio - Adviser Class
2013
49
2012
61
2011
59
2010
36
2009
26
ING Templeton Foreign Equity Portfolio - Initial Class
2013
10,606
2012
11,465
2011
10,100
2010
10,877
2009
11,443
ING Templeton Foreign Equity Portfolio - Service Class
2013
27
2012
25
2011
9
2010
8
2009
6
ING Core Equity Research Fund - Class A
2013
7
2012
11
2011
13
2010
13
2009
9
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
$10.46
$8.83
$7.54
$8.70
$8.11
$12.39
$10.47
$8.95
$10.32
$9.64
$22.13
$17.16
$14.79
$14.99
$13.49
$23.14
$17.78
$15.19
$15.29
$13.64
$13.79
$11.50
$9.69
$11.04
$10.17
$11.48
$9.55
$8.03
$9.13
$8.38
$22.72
$16.52
$14.07
$14.40
$12.48
282
$10.94
$9.17
$7.78
$8.91
$8.26
to
to
to
to
to
Unit Fair Value
(lowest to highest)
$18.89
$13.81
$11.83
$12.17
$10.60
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
162
190
189
200
129
362
284
86
88
57
114,872
104,253
77,991
96,382
94,024
539
562
457
324
215
3,895
2,729
2,053
2,022
1,598
Net Assets
(000's)
0.57%
1.06%
1.03%
0.61%
(a)
1.24%
2.16%
1.15%
2.76%
-
1.48%
1.62%
1.95%
2.20%
-
1.09%
1.18%
2.05%
1.86%
-
0.03%
0.06%
-
Investment
Income
RatioA
0.35%
0.35%
0.35%
0.40%
0.40%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
0.35%
0.35%
0.35%
0.35%
0.35%
to
to
to
to
to
1.25%
1.25%
1.25%
1.40%
1.55%
1.40%
1.40%
1.40%
1.45%
1.45%
1.50%
1.50%
1.50%
1.50%
1.50%
1.55%
1.55%
1.55%
1.55%
1.55%
Expense RatioB
(lowest to highest)
to
to
to
to
to
38.90%
18.62%
-1.33%
16.61%
42.58%
28.96%
16.02%
-1.66%
10.95%
18.34%
16.98%
-13.44%
7.04%
30.01%
18.46%
17.08%
-13.36%
7.22%
30.10%
to
to
to
to
(a)
to
to
to
to
to
to
to
to
to
to
30.15%
17.05%
-0.78%
12.10%
19.91%
18.68%
-12.23%
8.55%
31.91%
20.21%
18.93%
-12.05%
9.74%
32.18%
19.30%
17.87%
-12.68%
7.87%
30.90%
36.78%
16.74%
-2.79%
14.81%
40.40%
Total ReturnC
(lowest to highest)
ING Strategic Allocation Conservative Portfolio - Class I
2013
2012
2011
2010
2009
ING Strategic Allocation Growth Portfolio - Class I
2013
2012
2011
2010
2009
ING Strategic Allocation Moderate Portfolio - Class I
2013
2012
2011
2010
2009
ING Growth and Income Portfolio - Class A
2013
2012
2011
2010
2009
ING Growth and Income Portfolio - Class I
2013
2012
2011
2010
2009
$11.86
$10.27
$9.12
$9.26
$8.34
3,358
3,554
3,774
3,928
3,969
41,976
42,100
47,467
52,699
53,908
$13.11
$10.12
$8.82
$8.93
$7.88
$11.68
$9.63
$8.45
$8.78
$7.83
3,607
3,688
3,981
4,056
4,155
111
71
89
62
47
$12.26
$11.03
$9.91
$9.82
$8.92
to
to
to
to
to
$457.82
$353.70
$308.39
$312.14
$276.06
$27.50
$23.66
$20.83
$20.95
$18.68
$28.95
$23.66
$20.63
$21.25
$18.80
$27.13
$24.14
$21.55
$21.17
$19.06
283
$14.36
$11.08
$9.65
$9.75
$8.62
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
Unit Fair Value
(lowest to highest)
1,821
1,798
1,920
1,876
1,943
Units
(000's)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
1,391,126
1,068,514
1,044,149
1,177,617
1,084,132
1,598
785
856
606
403
67,281
61,420
57,881
61,501
56,060
76,061
64,806
61,425
65,533
60,353
37,570
33,238
31,636
30,602
29,313
Net Assets
(000's)
1.38%
1.84%
1.24%
1.06%
1.44%
1.09%
1.34%
1.09%
0.99%
1.03%
2.15%
2.13%
3.49%
3.92%
8.62%
1.71%
1.57%
2.68%
3.58%
9.30%
2.58%
2.70%
4.08%
4.39%
7.90%
Investment
Income
RatioA
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
to
to
to
to
to
0.35%
0.35%
0.35%
0.35%
0.35%
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
1.95%
1.95%
1.95%
1.95%
1.95%
1.60%
1.70%
1.60%
1.60%
1.60%
1.95%
1.95%
1.95%
1.95%
1.95%
1.60%
1.70%
1.60%
1.60%
1.95%
Expense RatioB
(lowest to highest)
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
16.58%
13.66%
-0.57%
12.15%
21.77%
22.45%
15.09%
-2.89%
13.15%
25.27%
12.39%
12.32%
1.80%
11.10%
17.94%
28.10%
13.53%
-2.23%
11.92%
27.76%
to
to
to
to
to
31.00%
15.77%
-0.22%
14.24%
30.30%
29.60%
14.82%
-1.03%
13.11%
29.24%
14.74%
11.85%
-2.21%
10.25%
19.91%
20.03%
12.70%
-4.75%
10.82%
22.80%
10.41%
10.62%
0.18%
9.40%
15.62%
Total ReturnC
(lowest to highest)
ING Growth and Income Portfolio - Class S
2013
2012
2011
2010
2009
ING Index Plus LargeCap Portfolio - Class I
2013
2012
2011
2010
2009
ING Index Plus LargeCap Portfolio - Class S
2013
2012
2011
2010
2009
ING Index Plus MidCap Portfolio - Class I
2013
2012
2011
2010
2009
ING Index Plus MidCap Portfolio - Class S
2013
2012
2011
2010
2009
28
29
34
51
49
10,694
11,422
12,437
13,426
14,483
$14.52
$10.89
$9.33
$9.53
$7.88
$11.85
$9.05
$8.03
$8.16
$7.27
12,649
13,613
15,065
16,582
18,196
21
31
37
33
40
$13.98
$10.84
$9.58
$9.70
$8.59
$42.09
$31.28
$26.58
$26.88
$22.05
$32.83
$24.77
$21.65
$21.66
$19.01
$20.81
$16.04
$13.95
$14.09
$12.43
284
$17.78
$13.29
$11.36
$11.56
$9.55
to
to
to
to
to
$15.70
$11.87
$10.44
$10.52
$9.29
to
to
to
to
to
to
to
to
to
to
Unit Fair Value
(lowest to highest)
12
533
737
141
97
Units
(000's)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
503
387
389
590
472
365,883
298,981
280,455
307,653
274,072
335
368
383
348
375
325,012
269,213
262,851
292,131
283,441
212
6,121
7,254
1,467
884
Net Assets
(000's)
0.90%
0.52%
0.41%
0.94%
1.09%
1.15%
0.91%
0.84%
1.06%
1.65%
1.42%
1.60%
1.64%
1.94%
2.57%
1.82%
1.66%
1.90%
1.93%
3.01%
0.06%
1.47%
2.00%
1.02%
1.68%
Investment
Income
RatioA
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.10%
0.00%
0.00%
0.00%
0.00%
0.35%
0.35%
0.35%
0.35%
0.35%
to
to
to
to
to
0.35%
0.35%
0.35%
0.35%
0.35%
to
to
to
to
to
to
to
to
to
to
1.95%
1.95%
1.85%
2.10%
2.10%
1.95%
1.95%
1.95%
1.95%
1.95%
1.55%
1.55%
1.55%
1.50%
1.50%
Expense RatioB
(lowest to highest)
to
to
to
to
to
to
to
to
to
to
32.92%
14.50%
-0.05%
14.02%
23.20%
30.26%
15.45%
-0.50%
13.84%
29.55%
to
to
to
to
to
34.56%
17.73%
-1.12%
21.95%
31.80%
33.78%
16.99%
-1.73%
21.05%
31.00%
31.89%
15.57%
-2.94%
19.36%
28.97%
32.27%
13.70%
-0.76%
13.24%
22.56%
30.24%
12.30%
-2.07%
11.70%
20.75%
28.36%
13.73%
-1.72%
12.15%
28.98%
Total ReturnC
(lowest to highest)
ING Index Plus SmallCap Portfolio - Class I
2013
6,051
2012
6,083
2011
6,805
2010
7,455
2009
7,647
ING Index Plus SmallCap Portfolio - Class S
2013
14
2012
15
2011
17
2010
14
2009
14
ING International Index Portfolio - Class I
2013
2,524
2012
2,347
2011
2,344
2010
2,334
2009
2,401
ING International Index Portfolio - Class S
2013
2012
2011
1
2010
1
2009
1
ING Russell™ Large Cap Growth Index Portfolio - Class I
2013
563
2012
547
2011
367
2010
274
2009
221
Units
(000's)
$20.94
$16.10
$14.28
$13.91
$12.47
$9.41
$7.89
$6.77
$7.85
$7.43
to
to
to
to
to
$22.45
$17.01
$14.86
$14.26
$12.76
$17.67
$14.68
$12.49
$14.36
$13.44
$30.95
$21.69
$19.30
$19.44
$15.83
285
$17.06
$14.14
$11.98
$13.73
$12.80
to
to
to
to
to
$16.68
$11.77
$10.53
$10.67
$8.74
to
to
to
to
to
Unit Fair Value
(lowest to highest)
$14.48
$10.24
$9.19
$9.34
$7.67
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
12,039
8,965
5,308
3,841
2,772
6
5
7
13
19
26,714
20,592
17,553
20,151
19,407
236
176
181
154
122
154,881
109,978
110,537
122,910
103,515
Net Assets
(000's)
1.35%
1.14%
1.31%
0.64%
(a)
6.25%
(a)
2.24%
2.78%
2.70%
3.45%
-
0.49%
0.60%
0.72%
1.11%
0.94%
0.58%
0.86%
0.69%
1.74%
Investment
Income
RatioA
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
to
to
to
to
to
0.35%
0.35%
0.35%
0.35%
0.35%
to
to
to
to
to
0.35%
0.35%
0.35%
0.35%
0.35%
to
to
to
to
to
1.50%
1.50%
1.50%
1.50%
1.50%
1.80%
1.80%
1.80%
1.80%
1.60%
1.95%
1.95%
1.80%
2.10%
2.10%
Expense RatioB
(lowest to highest)
to
to
to
to
to
42.71%
12.38%
-0.72%
22.86%
24.85%
to
to
to
to
to
21.45%
18.84%
-12.20%
8.01%
27.56%
30.06%
12.75%
2.66%
11.10%
to
to
to
to
(a)
31.98%
14.47%
4.21%
12.82%
20.65%
18.03%
-12.75%
7.27%
(a)
19.26%
16.54%
-13.76%
6.27%
26.18%
41.72%
11.78%
-1.31%
22.08%
23.97%
39.95%
10.36%
-2.52%
20.30%
22.25%
Total ReturnC
(lowest to highest)
Units
(000's)
ING Russell™ Large Cap Growth Index Portfolio - Class S
2013
45
2012
36
2011
41
2010
37
2009
29
ING Russell™ Large Cap Index Portfolio - Class I
2013
2,704
2012
2,210
2011
1,513
2010
1,295
2009
1,190
ING Russell™ Large Cap Index Portfolio - Class S
2013
10
2012
4
2011
1
2010
1
2009
(b)
ING Russell™ Large Cap Value Index Portfolio - Class I
2013
19
2012
17
2011
14
2010
11
2009
7
ING Russell™ Large Cap Value Index Portfolio - Class S
2013
312
2012
264
2011
215
2010
180
2009
165
to
to
to
to
to
$13.18
$10.16
$8.96
$8.89
$8.06
to
to
to
to
to
to
to
to
to
to
$19.40
$14.90
$12.98
$13.03
$11.85
$18.94
$14.63
$12.81
$12.93
$11.81
$20.31
$15.45
$13.33
$13.25
$11.92
$19.49
$14.95
$13.01
$13.05
$11.86
$14.51
$10.99
$9.51
$9.27
$8.27
$22.21
$16.87
$14.63
$14.12
$12.60
286
$21.35
$16.36
$14.33
$14.16
(b)
to
to
to
to
to
Unit Fair Value
(lowest to highest)
$21.00
$16.02
$14.06
$13.60
$12.15
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
6,058
3,936
2,795
2,346
1,952
365
255
184
145
79
221
65
9
10
(b)
37,350
23,318
13,923
11,717
9,692
956
585
581
508
353
Net Assets
(000's)
1.54%
1.55%
1.56%
1.44%
(a)
1.61%
1.82%
1.22%
1.79%
(a)
0.70%
2.70%
(b)
(b)
1.48%
2.28%
1.53%
3.25%
-
1.17%
0.86%
1.10%
0.46%
(a)
Investment
Income
RatioA
0.00%
0.00%
0.00%
0.00%
0.00%
1.15%
1.15%
1.15%
1.15%
1.15%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
to
to
to
to
to
to
to
to
to
to
0.95%
0.95%
0.95%
0.95%
(b)
to
to
to
to
to
to
to
to
to
to
1.50%
1.50%
1.50%
1.50%
1.50%
1.25%
1.25%
1.25%
1.25%
1.25%
1.80%
1.80%
1.80%
1.80%
1.60%
1.20%
1.35%
1.35%
1.35%
1.35%
Expense RatioB
(lowest to highest)
to
to
to
to
to
to
to
to
to
(a)
32.03%
15.56%
2.59%
12.23%
23.65%
31.71%
14.26%
3.87%
12.47%
29.46%
14.21%
-0.93%
9.48%
30.20%
14.79%
-0.38%
9.96%
to
to
to
to
(a)
to
to
to
to
(a)
31.46%
15.90%
0.60%
11.16%
30.37%
14.91%
-0.31%
10.03%
30.50%
14.17%
1.20%
(b)
(b)
29.72%
13.39%
0.79%
10.48%
21.90%
30.17%
12.78%
2.52%
10.94%
Total ReturnC
(lowest to highest)
ING Russell™ Mid Cap Growth Index Portfolio - Class S
2013
2012
2011
2010
2009
ING Russell™ Mid Cap Index Portfolio - Class I
2013
2012
2011
2010
2009
ING Russell™ Small Cap Index Portfolio - Class I
2013
2012
2011
2010
2009
ING Small Company Portfolio - Class I
2013
2012
2011
2010
2009
ING Small Company Portfolio - Class S
2013
2012
2011
2010
2009
$14.57
$11.05
$9.62
$9.98
$8.15
$15.67
$11.50
$10.09
$10.69
$8.65
$15.42
$11.29
$9.95
$10.30
$8.35
2,845
2,011
786
638
433
1,437
1,049
648
482
225
4,235
4,493
4,827
5,153
5,202
15
14
14
11
11
$23.11
$17.39
$15.29
$15.87
$12.80
$52.98
$38.48
$33.68
$34.54
$27.77
$17.34
$12.50
$10.77
$11.21
$8.83
$16.12
$12.02
$10.27
$10.40
$8.36
$24.78
$18.37
$15.91
$16.26
$12.92
287
$20.17
$14.73
$12.94
$13.34
$10.80
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
Unit Fair Value
(lowest to highest)
358
325
335
291
237
Units
(000's)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
299
207
184
149
118
155,627
122,521
116,910
129,660
107,672
23,761
12,589
6,728
5,262
1,962
44,130
23,380
7,784
6,503
3,562
8,513
5,776
5,207
4,652
3,049
Net Assets
(000's)
0.40%
0.92%
0.51%
0.41%
0.40%
0.52%
0.61%
1.25%
0.79%
0.90%
0.47%
-
1.11%
0.87%
1.25%
0.52%
-
0.67%
0.35%
0.45%
0.29%
(a)
Investment
Income
RatioA
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.25%
0.00%
0.00%
0.00%
0.25%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.35%
0.35%
0.35%
0.35%
0.35%
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
1.50%
1.50%
1.50%
1.50%
1.50%
1.80%
1.80%
1.80%
1.80%
1.50%
1.80%
1.80%
1.80%
1.80%
1.50%
1.50%
1.50%
1.50%
1.50%
1.50%
Expense RatioB
(lowest to highest)
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
(a)
37.83%
14.53%
-2.48%
24.44%
27.62%
38.72%
16.06%
-3.93%
26.16%
26.32%
34.11%
17.04%
-2.12%
25.00%
40.27%
34.89%
15.46%
-2.15%
25.85%
36.93%
13.83%
-3.00%
23.52%
26.76%
35.67%
12.81%
-3.94%
22.55%
25.65%
36.26%
13.97%
-5.61%
24.51%
24.78%
31.86%
14.86%
-3.61%
23.31%
38.41%
32.89%
13.73%
-3.65%
23.98%
Total ReturnC
(lowest to highest)
ING U.S. Bond Index Portfolio - Class I
2013
2012
2011
2010
2009
ING International Value Portfolio - Class I
2013
2012
2011
2010
2009
ING International Value Portfolio - Class S
2013
2012
2011
2010
2009
ING MidCap Opportunities Portfolio - Class I
2013
2012
2011
2010
2009
ING MidCap Opportunities Portfolio - Class S
2013
2012
2011
2010
2009
$8.71
$7.25
$6.14
$7.28
$7.16
4,006
4,356
5,279
6,060
7,742
$12.14
$9.83
$11.38
$11.54
$8.92
$17.39
$13.41
$12.00
$12.22
5,043
2,646
1,972
1,410
998
74
122
164
198
23
17
20
22
24
26
$11.32
$11.83
$11.71
$11.09
$10.61
$23.29
$17.75
$15.64
$15.81
$28.81
$21.94
$19.31
$18.47
$14.17
$18.26
$15.06
$12.70
$15.07
$14.85
$12.52
$12.85
$12.37
$11.54
$10.87
288
to
to
to
to
$12.21
to
to
to
to
to
$13.43
$11.15
$9.40
$11.09
$10.88
to
to
to
to
to
to
to
to
to
to
Unit Fair Value
(lowest to highest)
777
937
794
477
368
Units
(000's)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
1,401
1,742
2,056
2,514
276
113,492
49,515
32,603
23,611
12,935
224
218
210
263
283
62,868
59,954
62,017
84,378
105,099
9,263
11,539
9,456
5,363
3,932
Net Assets
(000's)
0.42%
0.57%
-
0.04%
0.59%
0.72%
0.21%
2.26%
2.34%
2.54%
1.83%
1.51%
2.58%
2.51%
2.61%
2.04%
1.56%
1.91%
2.32%
2.02%
2.67%
2.62%
Investment
Income
RatioA
0.00%
0.00%
0.00%
0.15%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
to
to
to
to
0.35%
to
to
to
to
to
0.35%
0.35%
0.35%
0.35%
0.35%
to
to
to
to
to
to
to
to
to
to
1.55%
1.55%
1.35%
1.75%
1.50%
1.50%
1.50%
1.50%
1.50%
1.55%
1.50%
1.55%
1.70%
1.70%
1.80%
1.80%
1.50%
1.55%
1.50%
Expense RatioB
(lowest to highest)
to
to
to
to
to
to
to
to
to
to
21.25%
19.24%
-14.84%
2.49%
27.22%
-2.57%
3.88%
7.19%
6.16%
5.84%
to
to
to
to
to
31.99%
14.21%
-0.51%
30.35%
41.60%
29.68% to 31.62%
12.33% to 13.94%
-2.12% to -0.97%
29.48%
40.51%
29.99%
12.48%
-1.94%
28.37%
39.29%
20.45%
18.62%
-15.24%
1.93%
25.78%
19.44%
17.41%
-16.21%
0.73%
25.00%
-4.31%
2.30%
5.58%
4.52%
4.32%
Total ReturnC
(lowest to highest)
ING SmallCap Opportunities Portfolio - Class I
2013
2,427
2012
2,283
2011
1,989
2010
1,873
2009
1,414
ING SmallCap Opportunities Portfolio - Class S
2013
5
2012
5
2011
6
2010
15
2009
6
Janus Aspen Series Balanced Portfolio - Institutional Shares
2013
3
2012
4
2011
4
2010
7
2009
8
Janus Aspen Series Enterprise Portfolio - Institutional Shares
2013
7
2012
11
2011
11
2010
12
2009
14
Janus Aspen Series Flexible Bond Portfolio - Institutional Shares
2013
1
2012
1
2011
2
2010
3
2009
3
Units
(000's)
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
$30.58
$25.63
$22.71
$22.50
$20.91
$29.17
$22.19
$19.05
$19.46
$15.57
$21.24
$21.52
$20.09
$18.80
$17.63
$31.08
$31.52
$29.46
$27.94
$26.20
$46.45
$35.53
$30.67
$31.51
$25.35
$47.51
$40.04
$35.79
$35.55
$33.21
$27.49
$19.73
$17.18
$17.09
$12.81
289
$22.30
$16.13
$14.08
$14.06
$10.68
to
to
to
to
to
Unit Fair Value
(lowest to highest)
$13.46
$9.77
$10.26
$10.33
$7.92
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
38
40
65
66
62
326
365
322
363
327
153
174
151
242
261
108
80
86
213
60
41,575
28,744
21,998
20,701
11,898
Net Assets
(000's)
5.13%
1.90%
7.63%
3.13%
5.00%
0.29%
-
1.83%
3.08%
2.55%
2.78%
6.84%
-
-
Investment
Income
RatioA
0.50%
0.50%
0.50%
0.50%
0.50%
0.45%
0.45%
0.40%
0.45%
0.30%
0.50%
0.50%
0.40%
0.50%
0.50%
0.00%
0.00%
0.20%
0.00%
0.00%
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
0.35%
0.35%
0.35%
0.35%
0.35%
to
to
to
to
to
1.50%
1.50%
1.50%
1.50%
1.50%
1.50%
1.50%
1.50%
1.50%
1.50%
1.40%
1.40%
1.40%
1.40%
1.45%
1.50%
1.75%
1.50%
1.50%
1.50%
Expense RatioB
(lowest to highest)
to
to
to
to
to
39.05%
14.88%
0.60%
32.13%
31.05%
-1.62%
6.72%
5.15%
6.38%
11.54%
30.42%
15.58%
-2.91%
24.01%
42.60%
18.46%
12.05%
0.23%
6.87%
24.06%
31.81%
16.74%
-1.84%
25.27%
44.34%
to -0.62%
to 7.80%
to 6.19%
to 7.47%
to 12.63%
to
to
to
to
to
to 19.58%
to 13.05%
to 1.11%
to 7.87%
to 25.25%
38.25%
14.56%
0.14%
31.65%
30.24%
37.03%
13.45%
-0.68%
30.43%
28.99%
Total ReturnC
(lowest to highest)
Units
(000's)
Janus Aspen Series Global Research Portfolio - Institutional Shares
2013
6
2012
6
2011
6
2010
8
2009
10
Janus Aspen Series Janus Portfolio - Institutional Shares
2013
3
2012
4
2011
4
2010
5
2009
5
JPMorgan Government Bond Fund - Select Class
2013
25
2012
1
2011
(d)
2010
(d)
2009
(d)
Lazard Emerging Markets Equity Portfolio - Open Shares
2013
2012
(e)
2011
(e)
2010
(e)
2009
(e)
Lazard U.S. Mid Cap Equity Portfolio - Open Shares
2013
339
2012
571
2011
452
2010
287
2009
159
$10.98
$8.40
$8.09
$8.72
$7.19
to
to
to
to
to
$12.96
$10.04
$8.54
$9.10
$8.02
to
to
to
to
to
$12.76
$9.63
$9.13
$9.70
$7.49
$32.19
$24.98
$21.31
$22.41
$19.82
$29.59
$23.33
$19.68
$23.10
$20.19
290
$12.30
$10.04
(e)
(e)
(e)
$9.58
$10.04
(d)
(d)
(d)
to
to
to
to
to
Unit Fair Value
(lowest to highest)
$15.43
$12.10
$10.15
$11.85
$10.30
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
3,922
5,049
3,793
2,566
1,162
(e)
(e)
(e)
(e)
242
10
(d)
(d)
(d)
78
70
57
82
84
161
135
114
164
172
Net Assets
(000's)
0.29%
0.07%
0.03%
0.86%
0.77%
(e)
(e)
(e)
(e)
(e)
5.56%
(d)
(d)
(d)
(d)
1.35%
1.20%
-
1.35%
0.80%
0.72%
0.60%
1.23%
Investment
Income
RatioA
0.00%
0.00%
0.00%
0.00%
0.00%
0.50%
0.50%
0.50%
0.50%
0.50%
0.45%
0.45%
0.40%
0.45%
0.45%
to
to
to
to
to
0.80%
(e)
(e)
(e)
(e)
0.95%
0.95%
(d)
(d)
(d)
to
to
to
to
to
to
to
to
to
to
1.50%
1.50%
1.50%
1.50%
1.50%
1.25%
1.40%
1.40%
1.40%
1.40%
1.50%
1.50%
1.50%
1.50%
1.50%
Expense RatioB
(lowest to highest)
to
to
to
to
to
to
to
to
to
to
29.67%
18.06%
-5.81%
14.00%
35.62%
27.83%
19.52%
-14.08%
15.28%
37.13%
30.71%
3.83%
-7.22%
21.28%
36.53%
to 32.57%
to 5.48%
to -5.86%
to 23.10%
to 38.19%
(e)
(e)
(e)
(e)
(e)
-4.58%
(d)
(d)
(d)
(d)
28.71%
16.99%
-6.62%
12.89%
34.49%
26.46%
18.33%
-15.03%
14.08%
35.65%
Total ReturnC
(lowest to highest)
LKCM Aquinas Growth Fund
2013
2012
2011
2010
2009
Loomis Sayles Small Cap Value Fund - Retail Class
2013
2012
2011
2010
2009
Lord Abbett Developing Growth Fund - Class A
2013
2012
2011
2010
2009
Lord Abbett Core Fixed Income Fund - Class A
2013
2012
2011
2010
2009
Lord Abbett Mid Cap Stock Fund - Class A
2013
2012
2011
2010
2009
$9.99
$8.65
$16.41
$12.29
$10.75
$11.11
$9.04
$23.49
$15.18
$13.96
$14.51
$10.56
$10.97
$10.52
$17.14
$13.75
$11.90
$12.61
$10.13
921
838
668
413
276
11
6
5
1
(b)
4
5
5
(b)
50
63
102
106
96
$24.80
$15.81
$14.26
$14.57
$17.86
$13.17
$11.35
$11.56
$9.27
to
to
to
to
to
291
$21.96
$17.02
$15.01
$15.79
$12.70
to
$10.78
to
$11.13
to
$10.61
$10.17
(b)
to
to
to
to
(b)
to
to
to
to
to
$13.82
$11.00
$10.05
to
$11.93
to
$10.34
Unit Fair Value
(lowest to highest)
30
31
29
28
27
Units
(000's)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
997
960
1,343
1,451
1,054
46
59
51
4
(b)
259
93
77
19
(b)
15,591
10,558
7,314
4,646
2,518
411
337
291
316
269
Net Assets
(000's)
0.41%
0.52%
0.14%
0.40%
0.67%
1.90%
1.80%
3.64%
(b)
(b)
(b)
(b)
0.02%
0.87%
0.50%
0.18%
-
Investment
Income
RatioA
0.35%
0.55%
0.55%
0.60%
0.60%
0.90%
0.90%
0.90%
0.20%
0.20%
0.55%
0.60%
0.00%
0.00%
0.00%
0.00%
0.00%
1.60%
1.60%
1.65%
1.05%
1.50%
1.50%
1.50%
1.50%
1.50%
to
to
to
to
to
1.75%
1.45%
1.75%
1.75%
1.90%
to 1.45%
to 1.45%
to 1.45%
1.15%
(b)
to
to
to
to
(b)
to
to
to
to
to
0.90%
0.90%
0.90%
0.90% to 1.05%
0.90% to 1.05%
Expense RatioB
(lowest to highest)
to
to
to
to
to
35.61%
16.04%
-1.82%
24.70%
28.19%
28.44%
12.89%
-5.63%
23.39%
24.29%
to
to
to
to
to
29.60%
13.91%
-4.54%
24.77%
25.89%
-3.74% to -3.14%
4.28% to 4.90%
3.93%
(b)
(b)
54.74% to 56.86%
8.85% to 9.75%
-2.55%
(b)
(b)
33.52%
14.33%
-3.24%
22.90%
26.61%
25.64%
9.45%
0.60%
15.32% to 15.49%
28.71%
Total ReturnC
(lowest to highest)
Lord Abbett SmallCap Value Fund - Class A
2013
55
2012
60
2011
63
2010
92
2009
88
Lord Abbett Fundamental Equity Fund - Class A
2013
15
2012
12
2011
4
2010
(c)
2009
(c)
Lord Abbett Series Fund MidCap Stock Portfolio - Class VC
2013
5,161
2012
6,044
2011
6,523
2010
6,716
2009
7,527
MainStay Large Cap Growth Fund - Class R3
2013
34
2012
31
2011
(d)
2010
(d)
2009
(d)
Massachusetts Investors Growth Stock Fund - Class A
2013
34
2012
49
2011
33
2010
29
2009
26
Units
(000's)
to
to
to
to
to
$12.46
$9.65
$8.50
$8.93
$7.18
$17.90
$13.52
$12.20
$12.33
$10.93
to
to
to
(c)
(c)
$16.90
$12.57
$11.52
to
to
to
to
to
$20.16
$15.05
$12.95
$12.81
$11.29
$24.10
$18.71
$16.51
$17.37
$13.99
$17.85
$13.09
$11.85
$27.05
$20.35
$18.50
$19.44
$15.49
292
$18.90
$13.90
(d)
(d)
(d)
to
to
to
to
to
Unit Fair Value
(lowest to highest)
$24.38
$18.53
$17.03
$18.14
$14.56
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
660
718
428
371
297
637
424
(d)
(d)
(d)
104,684
95,534
90,948
98,339
88,200
264
158
45
(c)
(c)
1,450
1,186
1,138
1,751
1,330
Net Assets
(000's)
0.44%
1.05%
0.50%
0.60%
0.30%
(d)
(d)
(d)
(d)
0.40%
0.67%
0.21%
0.38%
0.47%
0.47%
0.99%
(c)
(c)
(c)
0.69%
-
Investment
Income
RatioA
0.25%
0.60%
0.60%
0.65%
0.65%
0.00%
0.00%
0.00%
0.00%
0.00%
0.20%
0.20%
0.20%
0.55%
0.55%
0.55%
0.60%
0.60%
to
to
to
to
to
(d)
(d)
(d)
to
to
to
to
to
to
to
to
(c)
(c)
to
to
to
to
to
1.45%
1.80%
1.35%
1.20%
1.20%
1.50%
1.50%
1.50%
1.50%
1.50%
1.60%
1.60%
1.65%
1.60%
1.60%
1.60%
1.60%
1.65%
Expense RatioB
(lowest to highest)
to
to
to
to
to
32.92%
10.00%
-5.20%
25.50%
28.98%
to
to
to
to
to
30.40%
14.55%
-4.07%
25.52%
26.56%
28.52%
15.41%
0.16%
12.81%
38.71%
to
to
to
to
to
29.37%
16.22%
0.55%
13.46%
39.56%
35.97%
(d)
(d)
(d)
(d)
28.34%
12.88%
-5.45%
23.52%
24.74%
34.45% to 36.36%
9.52% to 10.46%
(c)
(c)
(c)
31.57%
8.81%
-6.12%
24.25%
27.72%
Total ReturnC
(lowest to highest)
Units
(000's)
Metropolitan West Total Return Bond Fund - Class M Shares
2013
358
2012
(e)
2011
(e)
2010
(e)
2009
(e)
Neuberger Berman Genesis Fund - Trust Class
2013
11
2012
7
2011
5
2010
(c)
2009
(c)
Neuberger Berman Socially Responsive Fund - Trust Class
2013
930
2012
779
2011
1,002
2010
660
2009
424
New Perspective Fund - Class R-3
2013
110
2012
122
2011
236
2010
266
2009
272
New Perspective Fund - Class R-4
2013
5,241
2012
5,050
2011
4,619
2010
4,588
2009
4,201
to
(e)
(e)
(e)
(e)
to
to
to
(c)
(c)
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
$17.41
$12.94
$11.99
$13.84
$10.12
$9.22
$9.77
$8.71
$19.96
$15.94
$13.33
$14.70
$13.29
$12.84
$10.22
$8.77
$9.50
$8.34
293
$24.03
$18.95
$15.69
$16.99
$15.07
$22.93
$18.14
$15.07
$16.36
$14.56
$16.45
$11.95
$10.81
$11.18
$9.22
$18.26
$13.39
$12.15
$9.77
Unit Fair Value
(lowest to highest)
$9.71
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
114,954
88,013
67,062
72,675
59,419
2,417
2,123
3,477
4,250
3,881
14,445
8,855
10,377
7,130
3,772
198
95
66
(c)
(c)
3,490
(e)
(e)
(e)
(e)
Net Assets
(000's)
0.86%
1.22%
1.04%
1.13%
1.48%
0.53%
0.61%
0.67%
0.76%
1.16%
1.19%
0.80%
0.73%
0.20%
0.44%
0.68%
(c)
(c)
(c)
(e)
(e)
(e)
(e)
(e)
Investment
Income
RatioA
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.35%
0.35%
0.85%
0.30%
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
(c)
(c)
to
(e)
(e)
(e)
(e)
1.50%
1.50%
1.50%
1.50%
1.50%
1.40%
1.45%
1.55%
1.55%
1.55%
1.90%
1.90%
1.90%
1.90%
1.70%
1.75%
1.75%
1.80%
1.25%
Expense RatioB
(lowest to highest)
24.88%
18.94%
-8.98%
11.05%
35.41%
24.67%
18.68%
-9.32%
10.61%
35.19%
35.35%
8.70%
-4.81%
20.44%
28.30%
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
26.81%
20.87%
-7.65%
12.74%
37.52%
26.41%
20.37%
-7.89%
12.36%
37.10%
37.90%
10.88%
-3.07%
22.19%
30.41%
34.54% to 36.37%
8.44%
(c)
(c)
(c)
(e)
(e)
(e)
(e)
(e)
Total ReturnC
(lowest to highest)
Oppenheimer Capital Appreciation Fund - Class A
2013
2012
2011
2010
2009
Oppenheimer Developing Markets Fund - Class A
2013
2012
2011
2010
2009
Oppenheimer Developing Markets Fund - Class Y
2013
2012
2011
2010
2009
Oppenheimer Gold & Special Minerals Fund - Class A
2013
2012
2011
2010
2009
Oppenheimer International Bond Fund - Class A
2013
2012
2011
2010
2009
$14.53
$11.27
$10.05
$10.23
$9.46
$12.12
$11.29
$9.42
$11.61
$9.22
$11.78
$10.89
$5.79
$11.40
$12.79
$10.79
$11.49
$10.50
$10.71
4,033
4,295
4,737
4,842
4,581
3,321
3,248
(d)
(d)
(d)
3
1
1
2
(b)
13
11
13
5
(b)
$11.85
$10.91
$92.59
$85.45
$70.71
$86.33
$67.99
$15.42
$12.00
$10.62
$10.85
$10.03
to
to
to
to
(b)
294
$11.17
$11.74
$10.65
$10.76
to
$6.16
to
$11.82
to
$12.89
$17.52
(b)
to
to
(d)
(d)
(d)
to
to
to
to
to
to
to
to
to
to
Unit Fair Value
(lowest to highest)
7
44
39
43
55
Units
(000's)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
141
128
134
52
(b)
15
16
7
38
(b)
39,124
35,375
(d)
(d)
(d)
280,181
275,812
259,497
325,715
241,957
106
520
400
456
538
Net Assets
(000's)
3.72%
3.82%
6.49%
(b)
(b)
(b)
(b)
0.46%
(d)
(d)
(d)
(d)
0.10%
0.41%
1.67%
0.15%
0.54%
0.65%
0.23%
-
Investment
Income
RatioA
0.70%
0.70%
0.80%
0.85%
0.20%
0.20%
0.80%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.60%
0.60%
0.60%
0.60%
0.55%
0.45%
0.45%
1.75%
1.75%
1.75%
1.95%
1.95%
1.20%
1.30%
1.30%
1.45%
1.55%
to
to
to
to
(b)
1.60%
1.45%
1.55%
1.45%
to 1.75%
to 1.45%
to 1.20%
0.60%
(b)
to
to
(d)
(d)
(d)
to
to
to
to
to
to
to
to
to
to
Expense RatioB
(lowest to highest)
8.38%
20.87%
-18.09%
26.97%
81.84%
to 8.62%
(d)
(d)
(d)
(d)
to
to
to
to
to
to 28.50%
to 12.99%
to -2.12%
to 8.50%
to 42.67%
-5.57% to -4.86%
9.22% to 9.87%
-1.77% to -1.12%
(b)
(b)
-48.60% to -47.88%
(b)
(b)
8.17%
6.49%
18.73%
-19.52%
24.54%
78.72%
27.79%
12.14%
-2.80%
7.57%
41.41%
Total ReturnC
(lowest to highest)
Oppenheimer Discovery Mid Cap Growth Fund/VA
2013
2012
2011
2010
2009
Oppenheimer Global Fund/VA
2013
2012
2011
2010
2009
Oppenheimer Global Strategic Income Fund/VA
2013
2012
2011
2010
2009
Oppenheimer Main Street Fund®/VA
2013
2012
2011
2010
2009
Oppenheimer Main Street Small Cap Fund®/VA
2013
2012
2011
2010
2009
$6.93
$5.18
$4.51
$4.53
$3.61
$18.96
$15.16
$12.73
$14.14
$12.41
$20.30
$20.58
$18.36
$18.43
$15.86
$12.74
$9.81
$8.52
$8.65
$7.57
$15.46
$11.06
$9.46
$9.76
$7.97
8
9
10
12
13
5
5
5
6
6
6
7
8
8
9
1,167
718
711
763
737
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
295
$24.07
$17.24
$14.76
$15.25
$12.48
$14.56
$11.19
$9.69
$9.82
$8.56
$22.49
$22.66
$20.08
$20.15
$17.63
$35.66
$28.15
$23.58
$25.57
$22.16
$13.99
$10.42
$9.06
$9.07
$7.21
Unit Fair Value
(lowest to highest)
4
5
2
3
3
Units
(000's)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
23,499
10,845
9,234
10,224
8,067
77
67
65
74
72
99
109
106
112
104
261
226
207
281
273
46
41
11
15
15
Net Assets
(000's)
0.83%
0.60%
0.64%
0.59%
0.75%
1.39%
1.52%
1.44%
1.37%
1.48%
4.81%
5.58%
3.67%
8.33%
0.96%
1.23%
2.31%
1.23%
1.44%
2.31%
-
Investment
Income
RatioA
0.00%
0.00%
0.00%
0.00%
0.00%
1.25%
1.25%
1.25%
1.25%
1.25%
0.60%
0.60%
0.60%
0.55%
0.55%
0.50%
0.50%
0.40%
0.50%
0.50%
1.25%
1.25%
1.25%
1.25%
1.25%
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
1.50%
1.50%
1.50%
1.50%
1.50%
1.50%
1.50%
1.50%
1.50%
1.50%
1.25%
1.25%
1.25%
1.25%
1.45%
1.80%
1.80%
1.80%
1.80%
1.80%
1.50%
1.50%
1.50%
1.50%
1.50%
Expense RatioB
(lowest to highest)
38.93%
16.23%
-3.62%
21.54%
35.19%
29.87%
15.14%
-1.50%
14.27%
26.38%
-1.36%
12.09%
-0.38%
13.56%
17.13%
25.07%
19.09%
-9.97%
13.94%
37.28%
33.78%
14.86%
-0.44%
25.48%
30.80%
26.68%
20.66%
-8.76%
15.39%
39.11%
34.26%
15.01%
-0.11%
25.80%
31.09%
to
to
to
to
to
to
to
to
to
to
40.98%
18.00%
-2.21%
23.33%
37.31%
30.12%
15.48%
-1.32%
14.72%
26.63%
to -0.75%
to 12.85%
to 0.25%
to 14.33%
to 18.24%
to
to
to
to
to
to
to
to
to
to
Total ReturnC
(lowest to highest)
Parnassus Equity Income Fund - Investor Shares
2013
2012
2011
2010
2009
Pax World Balanced Fund - Individual Investor Class
2013
2012
2011
2010
2009
PIMCO Real Return Portfolio - Administrative Class
2013
2012
2011
2010
2009
Pioneer Equity Income Fund - Class Y
2013
2012
2011
2010
2009
Pioneer High Yield Fund - Class A
2013
2012
2011
2010
2009
$19.03
$16.98
$14.80
$15.09
$12.86
$16.22
$17.87
$16.43
$14.71
$13.61
$17.04
$14.64
$13.16
$13.40
$11.98
296
to
to
to
to
to
$16.32
$14.79
$13.09
$13.37
$11.60
to
to
to
to
to
108
133
303
338
373
$12.89
$14.33
$13.30
$12.01
$11.20
10,069
16,021
13,442
11,633
8,873
to
to
to
to
to
$12.71
$9.93
(d)
(d)
(d)
$11.40
$9.88
$8.96
$9.21
$8.30
3,309
3,574
4,035
4,354
4,954
to
$22.01
to
$16.12
$14.03
(c)
(c)
358
111
(d)
(d)
(d)
$13.33
$10.04
Unit Fair Value
(lowest to highest)
547
59
3
(c)
(c)
Units
(000's)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
1,966
2,178
4,359
4,956
4,675
4,551
1,099
(d)
(d)
(d)
148,758
260,067
201,912
158,235
112,730
49,414
46,306
47,486
52,720
54,186
7,389
622
42
(c)
(c)
Net Assets
(000's)
4.83%
4.74%
5.30%
5.25%
6.97%
2.90%
(d)
(d)
(d)
(d)
1.37%
1.05%
5.14%
1.44%
2.96%
0.81%
1.59%
1.30%
1.48%
1.67%
1.50%
3.31%
(c)
(c)
(c)
Investment
Income
RatioA
0.20%
0.20%
0.20%
0.20%
0.20%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.15%
0.95%
to
to
to
to
to
0.95%
0.95%
(d)
(d)
(d)
to
to
to
to
to
to
to
to
to
to
1.75%
1.75%
1.75%
1.95%
1.95%
1.65%
1.65%
1.60%
1.65%
1.65%
1.50%
1.50%
1.60%
1.65%
1.65%
to 1.35%
to 1.35%
1.25%
(c)
(c)
Expense RatioB
(lowest to highest)
16.39%
11.29%
-1.79%
11.85%
21.42%
to -9.22%
to 8.78%
to 11.69%
to 8.25%
to 18.41%
to
to
to
to
to
10.34%
12.99%
-3.47%
15.26%
59.16%
to
to
to
to
to
12.07%
14.73%
-1.92%
17.34%
61.76%
28.00%
(d)
(d)
(d)
(d)
-10.68%
7.10%
9.90%
6.40%
16.42%
14.64%
9.65%
-3.31%
10.10%
19.28%
32.23% to 32.77%
13.97% to 14.33%
(c)
(c)
(c)
Total ReturnC
(lowest to highest)
Pioneer Strategic Income Fund - Class A
2013
2012
2011
2010
2009
Pioneer Emerging Markets VCT Portfolio - Class I
2013
2012
2011
2010
2009
Pioneer High Yield VCT Portfolio - Class I
2013
2012
2011
2010
2009
Columbia Diversified Equity Income Fund - Class K
2013
2012
2011
2010
2009
Royce Total Return Fund - K Class
2013
2012
2011
2010
2009
$6.71
$6.91
$6.23
$8.20
$7.13
$14.70
$13.24
$11.51
$11.81
$10.08
$12.08
$9.38
$8.28
$8.85
$7.73
1,506
1,799
2,217
2,736
3,007
1,731
1,725
1,673
1,601
1,618
769
751
699
610
443
(c)
(c)
$11.89
$11.90
$10.98
$13.15
$10.05
$8.74
$9.21
$7.92
$19.47
$17.39
$14.89
$15.12
$13.03
$9.13
$9.31
$8.32
$10.86
$9.37
$12.55
$12.39
$11.16
297
$18.06
$13.85
$12.31
(c)
(c)
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
(c)
(c)
Unit Fair Value
(lowest to highest)
110
124
22
(c)
(c)
Units
(000's)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
2
1
(c)
(c)
9,646
7,268
5,931
5,489
3,455
30,910
27,738
23,415
22,990
19,842
12,937
15,901
17,672
28,736
27,443
1,357
1,519
248
(c)
(c)
Net Assets
(000's)
(f)
(c)
(c)
(c)
1.51%
2.27%
0.88%
1.02%
(a)
5.41%
9.42%
5.53%
5.40%
7.77%
1.12%
0.52%
0.28%
0.46%
1.14%
4.17%
3.51%
(c)
(c)
(c)
Investment
Income
RatioA
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.20%
0.20%
0.20%
1.40%
1.40%
1.30%
(c)
(c)
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
(c)
(c)
1.50%
0.80%
0.80%
0.80%
1.10%
1.50%
1.50%
1.50%
1.50%
1.50%
1.60%
1.60%
1.60%
1.65%
1.70%
1.60%
1.60%
1.05%
Expense RatioB
(lowest to highest)
to
to
to
to
(a)
to
to
to
to
to
to
to
to
to
to
30.93%
14.65%
-5.70%
15.17%
12.02%
16.06%
-1.66%
18.06%
60.47%
-1.93%
12.03%
-23.35%
16.03%
74.81%
30.40%
(f)
(c)
(c)
(c)
28.78%
13.29%
-6.44%
14.49%
10.38%
14.34%
-3.16%
16.30%
57.99%
-3.52%
10.18%
-24.59%
14.02%
71.95%
-0.08% to 1.29%
10.11% to 11.02%
(c)
(c)
(c)
Total ReturnC
(lowest to highest)
SMALLCAP World Fund® - Class R-4
2013
2012
2011
2010
2009
T. Rowe Price Mid-Cap Value Fund - R Class
2013
2012
2011
2010
2009
T. Rowe Price Value Fund - Advisor Class
2013
2012
2011
2010
2009
Templeton Foreign Fund - Class A
2013
2012
2011
2010
2009
Templeton Global Bond Fund - Advisor Class
2013
2012
2011
2010
2009
$10.83
$10.57
$19.97
$15.76
$13.34
$15.34
$14.02
$24.42
$18.49
$15.55
$16.44
$14.20
$14.26
$11.02
$9.03
$10.54
$8.44
298
$10.76
$10.56
3,706
3,507
(d)
(d)
(d)
to
to
(d)
(d)
(d)
to
to
to
to
to
$12.19
$9.79
$11.94
$13.92
$13.06
94
77
84
74
84
to
to
to
to
to
$16.36
$12.07
$10.23
$10.56
$9.21
$21.36
$16.61
$14.15
$15.13
$13.23
40
44
42
51
73
to
to
to
to
to
17
19
17
15
12
$13.10
$10.28
$8.55
$10.13
$8.23
Unit Fair Value
(lowest to highest)
902
755
764
681
325
Units
(000's)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
39,880
37,035
(d)
(d)
(d)
1,820
1,174
1,088
1,103
1,146
285
226
173
163
109
928
777
625
803
999
12,144
7,942
6,672
6,996
2,698
Net Assets
(000's)
4.38%
(d)
(d)
(d)
(d)
1.60%
2.21%
2.74%
1.69%
1.77%
1.17%
1.50%
1.19%
2.21%
2.61%
0.23%
0.86%
0.42%
1.11%
0.82%
1.55%
0.38%
1.98%
1.34%
Investment
Income
RatioA
0.00%
0.00%
0.35%
0.35%
0.35%
0.35%
0.55%
0.00%
0.10%
0.10%
0.10%
0.10%
0.00%
0.00%
0.00%
0.00%
0.00%
to
to
(d)
(d)
(d)
to
to
to
to
to
1.00%
1.00%
1.00%
1.00%
1.00%
to
to
to
to
to
to
to
to
to
to
0.45%
0.45%
1.75%
1.65%
1.75%
1.75%
1.75%
1.35%
1.30%
1.30%
1.30%
1.30%
1.50%
1.50%
1.50%
1.50%
1.50%
Expense RatioB
(lowest to highest)
to
to
to
to
to
to
to
to
to
to
30.42%
18.91%
-5.41%
15.77%
45.46%
29.40%
22.04%
-14.33%
24.88%
53.28%
1.89%
25.07%
16.61%
-14.22%
6.58%
47.07%
26.71%
18.14%
-13.04%
7.92%
48.99%
to 2.46%
(d)
(d)
(d)
(d)
to
to
to
to
to
35.54%
17.99%
-3.13%
14.66%
35.64%
29.49%
17.39%
-6.48%
14.36%
44.12%
27.43%
20.23%
-15.60%
23.09%
51.29%
Total ReturnC
(lowest to highest)
Templeton Global Bond Fund - Class A
2013
8,567
2012
8,916
2011
9,995
2010
9,629
2009
8,132
Thornburg International Value Fund - Class R4
2013
3
2012
3
2011
5
2010
(c)
2009
(c)
USAA Precious Metals and Minerals Fund - Adviser Shares
2013
1,843
2012
1,062
2011
552
2010
(c)
2009
(c)
Diversified Value Portfolio
2013
5
2012
6
2011
6
2010
7
2009
7
Equity Income Portfolio
2013
12
2012
29
2011
25
2010
24
2009
20
Units
(000's)
to
to
to
(c)
(c)
to
to
to
(c)
(c)
to
to
to
to
to
to
to
to
to
to
$13.17
$11.58
$10.28
$3.61
$7.55
$8.71
$17.68
$13.94
$12.21
$11.98
$11.18
$18.44
$14.46
$13.01
$12.04
$10.71
$20.31
$15.64
$14.00
$12.78
$11.27
$19.57
$15.27
$13.23
$12.85
$11.87
$3.76
$7.74
$8.80
$13.56
$11.73
$10.31
$35.87
$35.09
$30.30
$31.04
$27.54
299
to
to
to
to
to
Unit Fair Value
(lowest to highest)
$10.78
$10.72
$9.37
$13.96
$12.49
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
245
446
351
303
225
107
87
82
86
84
6,749
8,081
4,823
(c)
(c)
46
34
55
(c)
(c)
200,725
204,498
209,387
207,794
155,610
Net Assets
(000's)
3.47%
2.51%
2.45%
2.65%
4.10%
2.06%
2.37%
2.38%
2.35%
3.66%
(c)
(c)
(c)
(f)
(c)
(c)
(c)
4.05%
5.98%
6.17%
5.51%
4.38%
Investment
Income
RatioA
1.00%
1.10%
1.05%
1.10%
1.10%
0.95%
0.95%
0.95%
0.95%
0.95%
0.00%
0.00%
0.00%
0.60%
0.90%
0.60%
0.00%
0.00%
0.95%
0.00%
0.00%
to
to
to
to
to
to
to
to
to
to
to
to
to
(c)
(c)
to
to
to
(c)
(c)
to
to
to
to
to
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
2.00%
1.50%
1.50%
1.50%
1.35%
1.35%
0.75%
1.50%
1.50%
1.50%
1.50%
1.50%
Expense RatioB
(lowest to highest)
to 2.24%
to 15.85%
to -2.38%
to 12.71%
to 18.86%
27.52%
11.15%
8.06%
12.42%
15.20%
to
to
to
to
to
28.37%
12.20%
9.08%
13.40%
15.47%
26.83% to 28.16%
14.17% to 15.42%
1.92% to 2.96%
7.16% to 8.26%
25.74%
-52.19% to -51.42%
-13.42% to -12.05%
(c)
(c)
(c)
13.73%
(f)
(c)
(c)
(c)
0.69%
14.03%
-3.81%
10.99%
17.11%
Total ReturnC
(lowest to highest)
Small Company Growth Portfolio
2013
2012
2011
2010
2009
Victory Small Company Opportunity Fund - Class R
2013
2012
2011
2010
2009
Wanger International
2013
2012
2011
2010
2009
Wanger Select
2013
2012
2011
2010
2009
Wanger USA
2013
2012
2011
2010
2009
$21.36
$14.87
$13.23
$13.32
$10.31
$18.08
$13.81
$11.63
$9.59
$7.96
$9.42
$7.59
$12.71
$9.53
$8.12
$9.95
$7.92
$13.20
$9.97
$9.63
$10.06
$8.22
1
1
(c)
(c)
3,586
3,149
2,787
2,483
1,714
4,455
5,096
5,695
6,108
5,121
3,280
3,344
2,848
2,442
2,016
$23.65
$16.29
$14.34
$14.29
$10.94
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
300
$24.83
$18.69
$15.69
$16.37
$13.36
$23.40
$17.39
$14.68
$17.83
$14.09
$13.66
$11.16
$9.18
$10.75
$8.61
to
$18.40
to
$14.07
$12.65
(c)
(c)
to
to
to
to
to
Unit Fair Value
(lowest to highest)
1
2
6
8
9
Units
(000's)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
73,254
56,213
40,134
35,896
24,191
96,025
82,307
78,376
102,870
68,682
46,354
33,558
24,628
25,898
14,434
20
13
1
(c)
(c)
23
25
92
110
93
Net Assets
(000's)
0.14%
0.36%
-
0.28%
0.44%
2.26%
0.53%
-
2.71%
1.33%
5.06%
2.55%
3.47%
(c)
(c)
(c)
1.27%
Investment
Income
RatioA
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.80%
0.60%
0.95%
0.95%
0.95%
0.95%
0.95%
2.00%
2.00%
2.00%
2.00%
2.00%
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
1.75%
1.75%
1.50%
1.50%
1.50%
1.75%
1.75%
1.75%
1.75%
1.50%
1.60%
1.60%
1.50%
1.55%
1.55%
to 1.25%
to 1.25%
0.60%
(c)
(c)
to
to
to
to
to
Expense RatioB
(lowest to highest)
to
to
to
to
to
45.18%
13.60%
0.35%
30.62%
37.96%
31.46%
18.15%
-4.88%
21.50%
40.12%
32.27%
16.36%
-19.10%
24.65%
63.80%
20.51%
19.74%
-15.91%
23.00%
47.42%
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
33.78%
20.04%
-3.46%
23.35%
42.34%
34.62%
18.47%
-17.67%
26.60%
66.19%
22.40%
21.64%
-14.60%
25.03%
49.80%
30.92% to 31.05%
11.23%
(c)
(c)
(c)
43.64%
12.40%
-0.68%
29.19%
37.60%
Total ReturnC
(lowest to highest)
(a)
(b)
(c)
(d)
(e)
(f)
$14.97
$10.94
$9.73
$10.04
$8.26
to
to
to
to
to
$13.18
$10.09
$9.05
$8.54
$7.59
to
to
to
to
to
$14.76
$12.97
$11.58
$12.65
$10.71
to
to
to
to
to
$16.35
$12.63
$11.44
$10.89
$9.80
$38.91
$28.21
$24.89
$25.47
$20.79
$19.59
$14.88
$13.14
$12.26
$11.00
$19.06
$14.50
$12.94
$12.13
$10.73
Unit Fair Value
(lowest to highest)
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
118,565
94,083
89,066
99,165
82,713
115
135
108
118
88
118,569
94,956
87,837
82,473
74,999
4,722
4,381
4,465
4,515
4,173
Net Assets
(000's)
0.12%
0.41%
0.82%
0.97%
-
2.35%
2.25%
2.21%
2.28%
3.08%
1.98%
1.92%
1.96%
1.98%
2.80%
Investment
Income
RatioA
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
301
to
to
to
to
to
1.00%
1.00%
1.00%
1.00%
1.00%
to
to
to
to
to
to
to
to
to
to
1.50%
1.50%
1.55%
1.55%
1.55%
1.50%
1.50%
1.50%
1.50%
1.50%
1.55%
1.55%
1.55%
1.55%
1.55%
Expense RatioB
(lowest to highest)
As investment Division had no investments until 2009, this data is not meaningful and is therefore not presented.
As investment Division had no investments until 2010, this data is not meaningful and is therefore not presented.
As investment Division had no investments until 2011, this data is not meaningful and is therefore not presented.
As investment Division had no investments until 2012, this data is not meaningful and is therefore not presented.
As investment Division had no investments until 2013, this data is not meaningful and is therefore not presented.
As investment Division is wholly comprised of new Contracts at December 31, 2012, this data is not meaningful and is therefore not presented
Washington Mutual Investors Fund - Class R-3
2013
260
2012
317
2011
361
2010
389
2009
406
Washington Mutual Investors Fund - Class R-4
2013
6,678
2012
6,972
2011
7,177
2010
7,137
2009
7,276
Wells Fargo Advantage Small Cap Value Fund - Class A
2013
8
2012
10
2011
9
2010
9
2009
8
Wells Fargo Advantage Special Small Cap Value Fund - Class A
2013
3,477
2012
3,766
2011
4,004
2010
4,325
2009
4,381
Units
(000's)
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
to
to
to
to
to
to
to
to
to
to
31.93%
12.47%
6.90%
13.43%
18.92%
31.45%
12.06%
6.68%
13.05%
18.56%
36.00%
11.78%
-3.69%
20.70%
27.90%
to
to
to
to
to
38.06%
13.50%
-2.15%
22.54%
29.91%
13.80%
12.00%
-8.46%
18.11%
50.42%
29.82%
10.80%
5.41%
11.57%
17.25%
29.45%
10.40%
5.05%
11.12%
16.81%
Total ReturnC
(lowest to highest)
C
B
A
302
The Investment Income Ratio represents dividends received by the Division, excluding capital gains distributions, divided by the average net assets.
The recognition of investment income is determined by the timing of the declaration of dividends by the underlying fund in which the Division invests.
The Expense Ratio considers only the annualized contract expenses borne directly by the Account, excluding expenses charged through the redemption of
units, and is equal to the mortality and expense, administrative, and other charges, as defined in the Charges and Fees note. Certain items in this
table are presented as a range of minimum and maximum values; however, such information is calculated independently for each column in the table.
Total Return is calculated as the change in unit value for each Contract presented in the Statements of Assets and Liabilities. Certain items in this
table are presented as a range of minimum and maximum values; however, such information is calculated independently for each column in the table.
VARIABLE ANNUITY ACCOUNT C OF
ING LIFE INSURANCE AND ANNUITY COMPANY
Notes to Financial Statements
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Securities offered through ING Financial
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which ING has selling agreements.
Becoming Voya Financial™ in 2014
© 2014 ING North America Insurance Corporation
ANN.VAC-13
January, 2014