Voya Money Gets to be Largest Retirement Plan Supplier in the Governing administration Sector

WINDSOR, Conn.–(Business enterprise WIRE)–Voya Economic, Inc. (NYSE: VOYA), introduced nowadays that its Retirement small business has realized a notable milestone — earning the No. 1 position in strategy property for the authorities 457/401(a) market place, according to the Safe Retirement Institute® (SRI®) third-quarter 2020 Not-For-Financial gain Markets study.1 “We are […]

WINDSOR, Conn.–(Business enterprise WIRE)–Voya Economic, Inc. (NYSE: VOYA), introduced nowadays that its Retirement small business has realized a notable milestone — earning the No. 1 position in strategy property for the authorities 457/401(a) market place, according to the Safe Retirement Institute® (SRI®) third-quarter 2020 Not-For-Financial gain Markets study.1

We are exceptionally proud of this achievement and particularly grateful to the hundreds of authorities businesses that have put their belief in Voya and our capability to assist their approach individuals get completely ready to retire improved,” mentioned Heather Lavallee, president of Tax-Exempt Markets for Voya’s Retirement organization. “Our ongoing motivation and encounter in this market place, which dates back much more than 40 many years when 457(b) designs have been 1st developed, permits us to support all types of government customers — from more compact options with a couple million in assets to some of the premier, most intricate retirement courses in the country. At Voya, we take into consideration it a good responsibility to assistance all of our authorities system sponsors progress the economic wellness of their prepare members — lots of of whom are firefighters, police officers, government employees and community servants.”

According to the SRI report, Voya moved to the No. 1 ranking in strategy assets in the course of the 3rd quarter of 2020 and is liable for recordkeeping approximately $121.5 billion in belongings for the governing administration 457/401(a) market place. This represents much more than 80{23996c8f5258275f450f40d5a867c22ad72c04895f28059581bc525cc6cb4bd0} year-above-yr progress in belongings when compared to Sept. 30, 2019.1 Voya also qualified prospects the marketplace in contributions to government 457/401(a) retirement programs — reporting additional than $27 billion in contributions yr to day as of Sept. 30, 2020.1

I am extremely proud of Voya’s endeavours in supporting our strategy sponsors in the governing administration industry, specifically through these remarkable occasions,” said Amy Heyel, SVP and nationwide exercise leader of Authorities Markets for Voya Financial. “The COVID-19 pandemic has set huge worry on area governments — both equally economically and mentally — as they focus on serving their communities. At Voya, we have intensive expertise and abilities to aid govt prepare sponsors reach the financial wellness goals of their retirement plans. Hence, in the midst of a worldwide overall health disaster, we could not be prouder to have been selected by 30 new authorities consumers last 12 months to assist an additional 348,000 prepare contributors on their journey to create a secure financial long run.”

Voya Financial’s Retirement enterprise serves shoppers of all measurements and throughout all sectors, such as businesses in federal government and other tax-exempt retirement plan markets. Precisely for the federal government sector, Voya supports over 3,700 govt 457/401(a) retirement plans,2 and the typical tenure for a govt consumer is a lot more than two decades.3 To learn extra, visit voya.com/businesses/tax-exempt/governing administration.

As a leader and advocate for greater retirement readiness, Voya Economic is committed to delivering on its eyesight to be America’s Retirement Organization® and on its mission to make a safe fiscal long run feasible — a single man or woman, a single loved ones, one institution at a time.

1) Secure Retirement Institute® (SRI®) 3Q 2020 Not-For-Gain Markets study of 23 collaborating organizations, Voya Financial® ranks No.1 in Governing administration 457/401(a) belongings as of Sept. 30, 2020. Expansion calculated comparing Sept. 30, 2020, vs. Sept. 30, 2019, property under administration.

2) Voya internal knowledge, as of Sept. 30, 2020.

3) Voya inner data, as of Dec. 31, 2019.

About Voya Economic®

Voya Money, Inc. (NYSE: VOYA), helps People approach, commit and defend their personal savings — to get all set to retire superior. Serving the economic wants of around 13.8 million personal and institutional buyers in the United States, Voya is a Fortune 500 company that experienced $7.5 billion in revenue in 2019. The corporation experienced $657 billion in whole assets underneath management and administration as of Sept. 30, 2020. With a distinct mission to make a safe monetary upcoming attainable — one human being, one family, 1 establishment at a time — Voya’s vision is to be America’s Retirement Corporation®. Certified as a “Great Put to Work” by the Fantastic Place to Perform® Institute, Voya is equally fully commited to conducting organization in a way that is socially, environmentally, economically and ethically liable. Voya has been regarded as a 2020 World’s Most Admired Business by Fortune journal one particular of the 2020 World’s Most Moral Firms® by the Ethisphere Institute as a member of the Bloomberg Gender Equality Index and as a “Ideal Area to Do the job for Incapacity Inclusion” on the Disability Equality Index by Disability:IN. For far more data, stop by voya.com. Follow Voya Monetary on Fb, LinkedIn and Twitter @Voya.

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Rachel C. Carpenter

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