Voya Financial Selected as New Service Provider for Rollins College Tax Deferred 403(b) Retirement Plan
WINDSOR, Conn.--(BUSINESS WIRE)-- Voya Financial, Inc. (NYSE: VOYA), announced today that its Retirement business has been selected as the new recordkeeper for the Rollins College Tax Deferred 403(b) Retirement Plan. Cerity Partners, an independent defined contribution plan consultant, assisted Rollins College during its competitive bid and evaluation process.
Rollins College is a private, four-year liberal arts institution and the first recognized college in Florida. Its 403(b) deferred compensation plan is a voluntary retirement savings plan designed to help employees of Rollins College save for their retirement. As of Jan. 1, 2020, its 403(b) retirement plan had more than 2,400 participants representing approximately $178 million in assets under administration. The plan will transition to Voya in the spring.
“We have a responsibility to ensure that our dedicated faculty and staff, many of whom commit their working lives to educating and serving our students, have the tools and resources they need to build a secure financial future,” said Matt Hawks, AVP, Human Resources and Risk Management. “This new relationship with Voya Financial not only helps Rollins College to provide effective stewardship of its retirement plan, but Voya’s easy-to-use digital tools — coupled with its local support and education programs — will enable our busy faculty and staff to quickly understand and take action to achieve their retirement goals. With Voya’s support and guidance, we’re confident more employees will take advantage of this voluntary, yet valuable, benefit to increase their retirement savings.”
“Through a rigorous selection process, the Rollins College retirement committee has once again demonstrated their commitment to the continual improvement of its 403(b) deferred compensation plan on behalf of the school’s employees,” said Rick Harris, principal at Cerity Partners. “I always appreciate partnering with Rollins College because of their willingness to put in the time and hard work necessary to help ensure the retirement readiness of their plan participants.”
As part of its commitment to advancing the retirement readiness of all Americans, Voya will provide participants in the Rollins College 403(b) retirement plan with localized support and access to industry-leading educational tools and resources. These include Voya’s myOrangeMoney® retirement-income-estimating capabilities and participant website experience, as well as communication and education programs designed to engage and motivate employees to save and achieve their financial wellness needs.
“Voya has a long history of serving the academic community and helping educators save for retirement across the U.S.,” said Brodie Wood, SVP and national practice leader of Health Care, Education and Not-for-Profit Markets for Voya Financial. “We are incredibly proud to begin this new collaboration with Rollins College — Florida’s oldest recognized college — to help its participants with their financial wellness needs and take meaningful steps to becoming retirement ready.”
Voya Financial’s Retirement business serves clients of all sizes and across all sectors, including employers in higher education and other tax-exempt retirement plan markets. As a leader and advocate for greater retirement readiness, Voya Financial 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.
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 13.8 million individual and institutional customers in the United States, Voya is a Fortune 500 company that had $7.5 billion in revenue in 2019. The company had $603 billion in total assets under management and administration as of Dec. 31, 2019. 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®. Certified as a “Great Place to Work” by the Great Place to Work® Institute, Voya is equally committed to conducting business in a way that is socially, environmentally, economically and ethically responsible. Voya has been recognized as a 2020 World’s Most Admired Company by Fortune magazine; one of the 2019 World’s Most Ethical Companies® by the Ethisphere Institute; as a member of the Bloomberg Gender Equality Index; and as a “Best Place to Work for Disability Inclusion” on the Disability Equality Index by Disability:IN. For more information, visit voya.com. Follow Voya Financial on Facebook, LinkedIn and Twitter @Voya.
Cerity Partners is a separate entity and not a corporate affiliate of Voya Financial®.
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