Voya Financial, Inc. Retained as Single Service Provider for Nevada Public Employees’ Deferred Compensation Program
January 16, 2020 at 03:00 pm
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Voya Financial, Inc. announced that its Retirement business will continue to provide sole recordkeeping services for the State of Nevada Public Employees’ Deferred Compensation Program. Segal Marco Advisors, an independent defined contribution plan consultant, assisted the Nevada Public Employees’ Deferred Compensation Program in its evaluation process. The Nevada Public Employees’ Deferred Compensation Program is a voluntary 457(b) retirement savings plan available to all State of Nevada employees, including those in the Nevada System of Higher Education (NHSE) and other local government employers. The program is designed to supplement participants’ retirement savings and pensions. As of Dec. 31, 2019, the Nevada Public Employees’ Deferred Compensation Program had more than 54,000 eligible participants representing approximately $900 million in assets under administration. As part of its commitment to advancing the retirement readiness of all Americans, Voya will provide Nevada Public Employees’ Deferred Compensation Program participants with localized support and access to 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 Financial, Inc. is a provider of workplace benefits and savings solutions and technologies. Wealth Solutions segment provides retirement plan solutions and administration technology and services to employers. Its products and services include full-service and recordkeeping-only defined contribution plan administration; stable value and fixed general account investment products; and services to promote the financial well-being and retirement security of employees. Health Solutions segment provides worksite employee benefits, Health Account Solutions, leave management, financial wellness and decision support products and services to mid-size and large corporate employers and professional associations. Investment Management segment serves both individual and institutional customers, offering them domestic and international fixed income, equity, multi-asset and alternative investment products and solutions across a range of geographies, investment styles and capitalization spectrums.