Voya Financial surpasses $100 billion in assets across multiple employer solutions
Growth across broad spectrum of pooled plan solutions underscores Voya’s reach and scale within the evolving market
“Our commitment to the multiple employer plan space is not new and at Voya; we have long recognized the value and benefits that these solutions can offer to help employers of all sizes establish retirement plans that meet the needs of their employees,” said
To support its growth and commitment to the multiple employer plan space, Voya recently announced the addition of newly created positions to support sales growth in this important market segment. These roles, which have been focused on driving growth and engagement with both advisors and plan sponsors, are dedicated to helping facilitate the creation of new solutions and adding adopting employers into existing solutions.
“We see this marketplace continuing to grow, and our experience, breadth and depth make Voya well positioned to continue to capture a large share,” added Brennan. “With these different areas of support in place, we look forward to the opportunities ahead as we continue to focus on executing further on our strategy and supporting retirement plan sponsors and plan advisors in guiding employees to the solutions that will help create greater outcomes for all.”
Voya’s growth across the abundance of multiple employer arrangements has been driven by flexible programs designed to provide optimal support for clients of all sizes. As a result, Voya has experienced significant growth specifically within its Wealth Solutions business, with 34% of total employer-sponsored Defined Contribution plans participating in a multiple employer plan solution.3
Last year, Voya also announced it is serving as the recordkeeper for first 403(b) Pooled Employer Plan following the SECURE Act 2.0 legislation. The PEP is designed to provide a pooled plan option for
Voya remains uniquely positioned in the market to serve retirement plans of all sizes and across all segments.As an industry leader focused on the delivery of benefits, savings and investment solutions to and through the workplace, Voya is committed to delivering on its mission to make a secure financial future possible for all — one person, one family, one institution at a time.
1.-3. Voya internal data as of
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