As ING enters hotter water over another state retirement plan, the Wall Street Journal suggests that a new "revenue sharing" mess may be in the making with regard to funds offered on retirement plan platforms.

New Hampshire's Bureau of Securities Regulation has charged the financial giant -- a major player in public defined contribution plans -- with "improper practices" involving market timing and payments to "strategic partners" in the mutual fund sphere. These include Fidelity, Pioneer Investments, American Funds, Invesco, and OppenheimerFunds. However, several of these told the Journal they disclosed payments to investors.

A month ago, the L.A. Times reported the New York Attorney General's office is amidst a long-term investigation into retirement plans, with a big focus on payments ING made to New York State United Teachers.  

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