Voya Selected as New Service Provider for Seven Government Retirement Plans in Southern California
WINDSOR, Conn.--(BUSINESS WIRE)-- Voya Financial, Inc. (NYSE: VOYA), announced today that it has earned the business of seven government retirement plan clients located in Southern California and will serve as the new recordkeeper for the municipalities of Oxnard, Downey, Signal Hill and Bellflower, as well as the San Diego Retirement Medical Trust, Padre Dam Municipal Water District and Lake Arrowhead Community Services District. Collectively, these retirement plans represent approximately $211 million in assets and more than 8,100 participating members.
Voya’s Tax-Exempt Markets business for Retirement spans across all 50 states and U.S. territories. These new clients highlight Voya’s longstanding commitment to providing industry-leading plan-administration solutions to state and local governments and the employees who work for them.
“We look forward to successfully growing these new relationships as we continue to expand our footprint in the great state of California,” said Heather Lavallee, president of Tax-Exempt Markets for Voya’s Retirement business. “At Voya, the average length of our client relationships across government, education, health care and non-profits spans nearly a quarter of a century. This reinforces our experience in and commitment to these market segments and the distinctive value we provide. That includes our size, scale and ability to innovate with a purpose, as well as our distinctive service model, which offers phone and on-site support.”
As part of its commitment to advancing the retirement readiness of all Americans, Voya will provide plan members 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.
SFG Retirement Plan Consulting assisted the City of Oxnard, City of Downey, City of Signal Hill, and City of Bellflower throughout the competitive bid and evaluation process for these municipalities. SageView Advisory Group assisted Padre Dam Municipal Water District, and Conduent/Buck assisted the City of San Diego Retirement Medical Trust in their evaluation process.
Voya Financial’s Retirement business serves clients of all sizes and across all sectors, including employers in the government and other tax-exempt retirement plan markets. As an industry leader, Voya is committed to advancing financial wellness and improving retirement outcomes for all Americans.
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 $8.5 billion in revenue in 2018. The company had $560 billion in total assets under management and administration as of June 30, 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 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.
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