WINDSOR, Conn.–(Enterprise WIRE)–Voya Fiscal, Inc. (NYSE: VOYA), declared nowadays that its Retirement small business has attained a notable milestone — earning the No. 1 position in prepare property for the governing administration 457/401(a) market place, in accordance to the Safe Retirement Institute® (SRI®) third-quarter 2020 Not-For-Earnings Marketplaces study.1
“We are really happy of this accomplishment and particularly grateful to the thousands of governing administration companies that have positioned their trust in Voya and our capacity to help their plan participants get ready to retire greater,” mentioned Heather Lavallee, president of Tax-Exempt Marketplaces for Voya’s Retirement business enterprise. “Our ongoing determination and practical experience in this market place, which dates again far more than 40 decades when 457(b) strategies were being 1st designed, allows us to aid all forms of authorities purchasers — from lesser designs with a several million in property to some of the major, most advanced retirement courses in the place. At Voya, we think about it a fantastic accountability to assistance all of our govt prepare sponsors progress the fiscal wellness of their prepare individuals — numerous of whom are firefighters, law enforcement officers, federal government workers and community servants.”
In accordance to the SRI report, Voya moved to the No. 1 rating in system belongings throughout the third quarter of 2020 and is accountable for recordkeeping somewhere around $121.5 billion in belongings for the federal government 457/401(a) current market. This represents far more than 80% 12 months-over-calendar year advancement in assets as opposed to Sept. 30, 2019.1 Voya also potential customers the market place in contributions to govt 457/401(a) retirement options — reporting much more than $27 billion in contributions calendar year to day as of Sept. 30, 2020.1
“I am incredibly happy of Voya’s initiatives in supporting our approach sponsors in the govt current market, specially through these extraordinary times,” mentioned Amy Heyel, SVP and countrywide exercise leader of Government Marketplaces for Voya Money. “The COVID-19 pandemic has place incredible pressure on neighborhood governments — equally monetarily and mentally — as they target on serving their communities. At Voya, we have substantial understanding and capabilities to help governing administration system sponsors reach the money wellness targets of their retirement systems. Therefore, in the midst of a international wellness disaster, we could not be prouder to have been chosen by 30 new government clientele past year to assistance an additional 348,000 plan contributors on their journey to create a protected fiscal future.”
Voya Financial’s Retirement business serves purchasers of all measurements and across all sectors, which includes employers in govt and other tax-exempt retirement program markets. Specifically for the authorities sector, Voya supports around 3,700 government 457/401(a) retirement ideas,2 and the normal tenure for a authorities client is a lot more than two a long time.3 To study additional, visit voya.com/companies/tax-exempt/federal government.
As a leader and advocate for larger retirement readiness, Voya Fiscal is fully commited to providing on its eyesight to be America’s Retirement Organization® and on its mission to make a protected monetary foreseeable future possible — just one person, 1 loved ones, a person institution at a time.
1) Secure Retirement Institute® (SRI®) 3Q 2020 Not-For-Gain Marketplaces study of 23 participating corporations, Voya Financial® ranks No.1 in Federal government 457/401(a) property as of Sept. 30, 2020. Development calculated evaluating Sept. 30, 2020, vs. Sept. 30, 2019, belongings underneath administration.
2) Voya internal facts, as of Sept. 30, 2020.
3) Voya interior info, as of Dec. 31, 2019.
About Voya Financial®
Voya Financial, Inc. (NYSE: VOYA), assists Us residents approach, devote and protect their savings — to get prepared to retire superior. Serving the monetary needs of somewhere around 13.8 million specific and institutional consumers in the United States, Voya is a Fortune 500 enterprise that had $7.5 billion in profits in 2019. The corporation had $657 billion in total belongings beneath management and administration as of Sept. 30, 2020. With a clear mission to make a secure economical foreseeable future possible — one particular man or woman, 1 loved ones, just one institution at a time — Voya’s eyesight is to be America’s Retirement Company®. Certified as a “Great Area to Work” by the Terrific Place to Perform® Institute, Voya is equally committed to conducting business enterprise in a way that is socially, environmentally, economically and ethically accountable. Voya has been acknowledged as a 2020 World’s Most Admired Firm by Fortune journal a person of the 2020 World’s Most Ethical Businesses® by the Ethisphere Institute as a member of the Bloomberg Gender Equality Index and as a “Finest Position to Function for Incapacity Inclusion” on the Disability Equality Index by Disability:IN. For far more information and facts, visit voya.com. Stick to Voya Fiscal on Facebook, LinkedIn and Twitter @Voya.