Voya Financial Chosen as New Service Provider for CenterPoint Energy Savings Plan
WINDSOR, Conn., Oct. 7, 2015 /PRNewswire/ -- Voya Financial, Inc. (NYSE: VOYA), announced that its Retirement business was chosen to provide plan administration services for the CenterPoint Energy Savings Plan.
CenterPoint Energy, Inc., headquartered in Houston, is a domestic energy delivery company on the Fortune 500 list that delivers electric and natural gas to more than five million U.S. customers in six states including Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma and Texas. The plan, which transitioned to Voya's administration platform October 1, 2015, represents nearly $1.7 billion in assets and approximately 9,300 plan participants as of September 28, 2015.
"After assessing the competitive landscape and evaluating the services offered by various vendors, we chose to engage Voya Financial to provide administrative and recordkeeping services for the plan," said Lynne Harkel-Rumford, vice president, Total Rewards and Technology for CenterPoint Energy. "We look forward to a successful partnership."
Voya will provide administrative and recordkeeping services for the CenterPoint Energy Savings Plan and offer participants a variety of decision-making and planning tools, including Voya's newly enhanced participant website, which features the award-winning myOrangeMoney® retirement income planning capability.
"We're thrilled CenterPoint Energy has placed its trust in Voya and selected us to be the company's new service provider," said Rich Linton, president of Large Corporate Market and Retail Wealth Management for Retirement at Voya Financial. "We look forward to a long and successful relationship with CenterPoint Energy and the opportunity to leverage our expertise in planning, saving and investing to ensure each CenterPoint Energy employee is able to achieve his or her retirement income needs."
The new relationship with CenterPoint Energy underscores Voya's ability and commitment to serve retirement plans of all sizes and across all market segments, including large, complex 401(k) plans. Voya's Retirement business holds top-tier rankings in the defined contribution industry. As an industry leader and advocate for greater retirement readiness, Voya is committed to delivering on its vision to be America's Retirement Company ™ and on its mission to make a secure financial future possible — one person, one family, one institution at a time.
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About Voya Financial®
Voya Financial, Inc. (NYSE: VOYA), helps Americans plan, invest and protect their savings — to get ready to retire better. Serving the financial needs of approximately 13 million individual and institutional customers in the United States, Voya is a Fortune 500 company that had $11 billion in revenue in 2014. The company had $484 billion in total assets under management and administration as of June 30, 2015. With a clear mission to make a secure financial future possible — one person, one family, one institution at a time — Voya's vision is to be America's Retirement Company™. The company is equally committed to conducting business in a way that is socially, environmentally, economically and ethically responsible — Voya has been recognized as one of the World's Most Ethical Companies, by the Ethisphere Institute, and as one of the Top Green Companies in the U.S., by Newsweek magazine. For more information, visit voya.com or view the company's 2014 annual report. Follow Voya Financial on Facebook and Twitter @Voya.
SOURCE Voya Financial, Inc.