WINDSOR, Conn.–(Small business WIRE)–Voya Fiscal, Inc. (NYSE: VOYA), introduced these days that its Retirement company has attained a notable milestone — earning the No. 1 position in prepare assets for the federal government 457/401(a) marketplace, in accordance to the Safe Retirement Institute® (SRI®) 3rd-quarter 2020 Not-For-Revenue Markets survey.1
“We are particularly proud of this achievement and primarily grateful to the hundreds of government businesses that have put their believe in in Voya and our ability to assist their system participants get prepared to retire greater,” mentioned Heather Lavallee, president of Tax-Exempt Marketplaces for Voya’s Retirement business. “Our ongoing commitment and experience in this industry, which dates back a lot more than 40 several years when 457(b) programs were initial designed, permits us to assist all sorts of authorities customers — from smaller sized designs with a couple million in property to some of the greatest, most elaborate retirement applications in the country. At Voya, we think about it a good responsibility to aid all of our federal government program sponsors progress the money wellness of their strategy members — numerous of whom are firefighters, law enforcement officers, authorities staff and public servants.”
According to the SRI report, Voya moved to the No. 1 ranking in system belongings in the course of the 3rd quarter of 2020 and is responsible for recordkeeping approximately $121.5 billion in property for the government 457/401(a) industry. This signifies a lot more than 80% yr-about-calendar year development in belongings compared to Sept. 30, 2019.1 Voya also leads the marketplace in contributions to government 457/401(a) retirement plans — reporting much more than $27 billion in contributions 12 months to day as of Sept. 30, 2020.1
“I am extremely happy of Voya’s initiatives in supporting our strategy sponsors in the authorities market place, specially in the course of these extraordinary moments,” reported Amy Heyel, SVP and nationwide apply chief of Govt Marketplaces for Voya Monetary. “The COVID-19 pandemic has put large tension on community governments — both equally fiscally and mentally — as they emphasis on serving their communities. At Voya, we have considerable expertise and abilities to assist federal government plan sponsors obtain the money wellness plans of their retirement programs. Hence, in the midst of a world-wide wellness disaster, we couldn’t be prouder to have been picked by 30 new authorities clients previous 12 months to assist an more 348,000 strategy contributors on their journey to construct a protected economic future.”
Voya Financial’s Retirement business enterprise serves clientele of all measurements and throughout all sectors, like companies in governing administration and other tax-exempt retirement plan marketplaces. Exclusively for the government current market, Voya supports above 3,700 govt 457/401(a) retirement ideas,2 and the normal tenure for a governing administration consumer is far more than two decades.3 To discover much more, take a look at voya.com/employers/tax-exempt/federal government.
As a chief and advocate for bigger retirement readiness, Voya Economic is fully commited to providing on its eyesight to be America’s Retirement Enterprise® and on its mission to make a secure fiscal upcoming possible — 1 man or woman, one spouse and children, one particular establishment at a time.
1) Secure Retirement Institute® (SRI®) 3Q 2020 Not-For-Earnings Marketplaces study of 23 taking part corporations, Voya Financial® ranks No.1 in Governing administration 457/401(a) assets as of Sept. 30, 2020. Expansion calculated evaluating Sept. 30, 2020, vs. Sept. 30, 2019, property beneath administration.
2) Voya inside knowledge, as of Sept. 30, 2020.
3) Voya inside facts, as of Dec. 31, 2019.
About Voya Fiscal®
Voya Economical, Inc. (NYSE: VOYA), assists Us residents system, invest and safeguard their personal savings — to get ready to retire better. Serving the money demands of about 13.8 million unique and institutional buyers in the United States, Voya is a Fortune 500 enterprise that experienced $7.5 billion in revenue in 2019. The enterprise experienced $657 billion in overall assets underneath administration and administration as of Sept. 30, 2020. With a crystal clear mission to make a safe fiscal long term attainable — one human being, one particular family, a person establishment at a time — Voya’s eyesight is to be America’s Retirement Enterprise®. Certified as a “Great Place to Work” by the Excellent Place to Do the job® Institute, Voya is similarly dedicated to conducting company in a way that is socially, environmentally, economically and ethically dependable. Voya has been regarded as a 2020 World’s Most Admired Corporation by Fortune journal a single of the 2020 World’s Most Moral Providers® by the Ethisphere Institute as a member of the Bloomberg Gender Equality Index and as a “Ideal Location to Do the job for Disability Inclusion” on the Incapacity Equality Index by Incapacity:IN. For a lot more info, visit voya.com. Observe Voya Money on Facebook, LinkedIn and Twitter @Voya.