WINDSOR, Conn.–(Small business WIRE)–Voya Economical, Inc. (NYSE: VOYA), announced today that its Retirement small business has achieved a noteworthy milestone — earning the No. 1 rating in system assets for the govt 457/401(a) marketplace, according to the Protected Retirement Institute® (SRI®) 3rd-quarter 2020 Not-For-Revenue Markets study.1
“We are really very pleased of this achievement and in particular grateful to the 1000’s of authorities companies that have put their have confidence in in Voya and our ability to assist their strategy individuals get prepared to retire much better,” reported Heather Lavallee, president of Tax-Exempt Marketplaces for Voya’s Retirement small business. “Our ongoing commitment and practical experience in this marketplace, which dates back again more than 40 yrs when 457(b) ideas were being 1st made, enables us to aid all kinds of government purchasers — from smaller plans with a several million in assets to some of the largest, most advanced retirement plans in the nation. At Voya, we look at it a great accountability to assistance all of our govt prepare sponsors progress the financial wellness of their system contributors — quite a few of whom are firefighters, law enforcement officers, federal government personnel and general public servants.”
In accordance to the SRI report, Voya moved to the No. 1 position in strategy belongings in the course of the 3rd quarter of 2020 and is responsible for recordkeeping about $121.5 billion in belongings for the government 457/401(a) marketplace. This signifies far more than 80% calendar year-more than-12 months expansion in assets in contrast to Sept. 30, 2019.1 Voya also potential customers the sector in contributions to authorities 457/401(a) retirement plans — reporting far more than $27 billion in contributions yr to date as of Sept. 30, 2020.1
“I am exceptionally very pleased of Voya’s initiatives in supporting our system sponsors in the authorities market place, specially during these remarkable moments,” said Amy Heyel, SVP and national practice leader of Federal government Markets for Voya Fiscal. “The COVID-19 pandemic has set great stress on neighborhood governments — both of those economically and mentally — as they target on serving their communities. At Voya, we have in depth knowledge and abilities to support government system sponsors accomplish the economical wellness targets of their retirement programs. For that reason, in the midst of a international overall health crisis, we could not be prouder to have been picked by 30 new govt customers previous yr to support an further 348,000 strategy contributors on their journey to construct a safe money upcoming.”
Voya Financial’s Retirement organization serves consumers of all measurements and throughout all sectors, which include companies in governing administration and other tax-exempt retirement system marketplaces. Specifically for the authorities current market, Voya supports in excess of 3,700 govt 457/401(a) retirement designs,2 and the ordinary tenure for a federal government shopper is much more than two a long time.3 To study much more, take a look at voya.com/companies/tax-exempt/government.
As a leader and advocate for bigger retirement readiness, Voya Fiscal is dedicated to offering on its vision to be America’s Retirement Company® and on its mission to make a protected monetary long run doable — one person, 1 relatives, just one establishment at a time.
1) Secure Retirement Institute® (SRI®) 3Q 2020 Not-For-Revenue Markets survey of 23 collaborating businesses, Voya Financial® ranks No.1 in Governing administration 457/401(a) assets as of Sept. 30, 2020. Growth calculated evaluating Sept. 30, 2020, vs. Sept. 30, 2019, property under administration.
2) Voya interior facts, as of Sept. 30, 2020.
3) Voya inner data, as of Dec. 31, 2019.
About Voya Monetary®
Voya Financial, Inc. (NYSE: VOYA), allows Individuals system, invest and secure their discounts — to get prepared to retire superior. Serving the financial requires of roughly 13.8 million unique and institutional customers in the United States, Voya is a Fortune 500 corporation that had $7.5 billion in revenue in 2019. The firm experienced $657 billion in whole assets beneath management and administration as of Sept. 30, 2020. With a obvious mission to make a safe economic potential doable — one individual, a single family, one particular institution at a time — Voya’s vision is to be America’s Retirement Enterprise®. Accredited as a “Great Put to Work” by the Terrific Position to Function® Institute, Voya is similarly dedicated to conducting organization in a way that is socially, environmentally, economically and ethically accountable. Voya has been regarded as a 2020 World’s Most Admired Enterprise by Fortune journal 1 of the 2020 World’s Most Ethical Businesses® by the Ethisphere Institute as a member of the Bloomberg Gender Equality Index and as a “Best Position to Function for Incapacity Inclusion” on the Incapacity Equality Index by Incapacity:IN. For much more information and facts, stop by voya.com. Adhere to Voya Monetary on Facebook, LinkedIn and Twitter @Voya.