WINDSOR, Conn.–(Company WIRE)–Voya Monetary, Inc. (NYSE: VOYA), introduced now that its Retirement enterprise has obtained a notable milestone — earning the No. 1 rating in strategy property for the govt 457/401(a) current market, according to the Secure Retirement Institute® (SRI®) third-quarter 2020 Not-For-Profit Marketplaces study.1
“We are particularly happy of this achievement and in particular grateful to the hundreds of authorities employers that have positioned their rely on in Voya and our capability to enable their system members get ready to retire much better,” mentioned Heather Lavallee, president of Tax-Exempt Markets for Voya’s Retirement organization. “Our ongoing commitment and practical experience in this industry, which dates back again additional than 40 several years when 457(b) ideas had been initially designed, allows us to guidance all kinds of govt shoppers — from smaller sized programs with a few million in belongings to some of the biggest, most complicated retirement packages in the nation. At Voya, we consider it a great responsibility to assist all of our authorities strategy sponsors advance the financial wellness of their plan contributors — lots of of whom are firefighters, law enforcement officers, govt staff and general public servants.”
According to the SRI report, Voya moved to the No. 1 ranking in plan assets all through the 3rd quarter of 2020 and is liable for recordkeeping somewhere around $121.5 billion in property for the government 457/401(a) industry. This signifies additional than 80% yr-about-yr development in assets compared to Sept. 30, 2019.1 Voya also qualified prospects the sector in contributions to government 457/401(a) retirement plans — reporting a lot more than $27 billion in contributions 12 months to date as of Sept. 30, 2020.1
“I am extremely very pleased of Voya’s efforts in supporting our system sponsors in the govt sector, particularly all through these remarkable moments,” said Amy Heyel, SVP and national apply leader of Government Markets for Voya Financial. “The COVID-19 pandemic has set remarkable strain on area governments — both monetarily and mentally — as they concentration on serving their communities. At Voya, we have intensive knowledge and abilities to enable governing administration system sponsors attain the money wellness plans of their retirement programs. As a result, in the midst of a world wide overall health crisis, we couldn’t be prouder to have been chosen by 30 new federal government customers final 12 months to support an extra 348,000 approach individuals on their journey to build a safe money future.”
Voya Financial’s Retirement organization serves shoppers of all measurements and across all sectors, including companies in federal government and other tax-exempt retirement approach marketplaces. Specially for the authorities market, Voya supports above 3,700 authorities 457/401(a) retirement programs,2 and the average tenure for a federal government consumer is much more than two decades.3 To master much more, pay a visit to voya.com/businesses/tax-exempt/govt.
As a leader and advocate for better retirement readiness, Voya Money is committed to offering on its eyesight to be America’s Retirement Enterprise® and on its mission to make a protected financial future probable — 1 human being, a person family members, 1 establishment at a time.
1) Safe Retirement Institute® (SRI®) 3Q 2020 Not-For-Profit Markets study of 23 participating organizations, Voya Financial® ranks No.1 in Authorities 457/401(a) belongings as of Sept. 30, 2020. Advancement calculated comparing Sept. 30, 2020, vs. Sept. 30, 2019, property beneath administration.
2) Voya inner details, as of Sept. 30, 2020.
3) Voya inside data, as of Dec. 31, 2019.
About Voya Money®
Voya Money, Inc. (NYSE: VOYA), aids People system, make investments and secure their savings — to get all set to retire greater. Serving the fiscal wants of close to 13.8 million personal and institutional consumers in the United States, Voya is a Fortune 500 company that experienced $7.5 billion in revenue in 2019. The organization had $657 billion in overall belongings less than administration and administration as of Sept. 30, 2020. With a very clear mission to make a protected economical foreseeable future possible — just one particular person, a single household, one particular institution at a time — Voya’s eyesight is to be America’s Retirement Firm®. Certified as a “Great Put to Work” by the Good Put to Get the job done® Institute, Voya is similarly dedicated to conducting organization in a way that is socially, environmentally, economically and ethically accountable. Voya has been identified as a 2020 World’s Most Admired Enterprise by Fortune magazine a person of the 2020 World’s Most Moral Businesses® by the Ethisphere Institute as a member of the Bloomberg Gender Equality Index and as a “Very best Position to Do the job for Disability Inclusion” on the Incapacity Equality Index by Incapacity:IN. For much more info, check out voya.com. Observe Voya Financial on Fb, LinkedIn and Twitter @Voya.