Voya selected as new service provider for United Health Services 403 (b) and 457 (b) retirement plans
WINDSOR, Conn. – (BUSINESS WIRE) – Voya Financial, Inc. (NYSE: VOYA) announced today that it has been selected as the recorder and service provider for United Health Services 403 (b) and 457 (b) retirement plans.
United Health Services, based in Binghamton, New York, is a comprehensive regional health system whose mission is to improve the health of those they serve through their commitment to excellence. The 403 (b) and 457 (b) retirement plans, which migrated to Voya in April 2021, represent approximately $ 285 million in assets under management and serve more than 7,500 eligible participants.
“With a large, diverse number of employees and providers, United Health Services found that Voya provided the technology, service and financial planning tools that would benefit all employees at different stages of their careers,” said Sheri Lamoureux, chief human resources officer. United Health Services.
As part of its commitment to ensuring a secure financial future for all individuals, Voya will provide plan members with access to industry-leading educational tools and resources. This includes Voya’s interactive and educational myOrangeMoney® website experience, as well as access to the company’s financial wellness experience.
“We were thrilled to be selected as the new United Health Services 403 (b) and 457 (b) retirement plan provider,” said Brodie Wood, SVP and director of national healthcare, education and nonprofit Earnings Markets practice for Voya Financial . “As a company that is committed to its values and supports the communities in which it operates, we at Voya are focused on ensuring that our values ultimately guide our actions and decisions, including the service and support we provide to our customers to offer. We look forward to entering into a new relationship to expand these values to help the hardworking United Health Services plan participants achieve better financial results. ”
As advisor to United Health Services’ pension plans, HANYS Benefit Services (HBS) assisted in the search, analysis and final transition to Voya. “Our team was happy to lead this project with United Health Services,” added Jim Kelley, President of HBS. “They care deeply about their employees’ retirement program and this has been an important initiative for them.”
Voya is uniquely positioned in the market to serve retirement plans of all sizes and sectors, including healthcare organizations. This includes hospitals, medical centers, medical groups, and other health and wellness organizations. Voya’s average tenure for a healthcare customer is 28 years. The Tax-Exempt Markets segment supports over 4,700 healthcare organizations1 with their retirement needs. For more information, please visit Voya.com/employers/tax-exempt/healthcare.
As an industry leader focused on providing health, wealth and investment solutions for and about the workplace, Voya Financial is committed to fulfilling its mission to provide a secure financial future for all Americans – one person, one family, one institution at a time.
1. Voya internal data as of March 30, 2020.
About Voya Financial®
Voya Financial, Inc. (NYSE: VOYA) provides healthcare, wealth, and investment solutions that enable approximately 14.8 million residential, workplace and institutional customers to achieve their financial wellness goals with confidence. With the vision of being America’s Retirement Company®, Voya’s products, solutions and digital capabilities help create a better financial future for all. Voya is a Fortune 500 company with 2020 sales of $ 7.6 billion and total assets under management and management of $ 700 billion as of December 31, 2020. Named Great Place by the Great Place to Work® Institute to Work “certified. Voya is equally committed to socially, ecologically, economically and ethically responsible management. Voya has been recognized by the Ethisphere Institute as One of the Most Ethical Companies in the World®. as the # 1 Financial Services Company in Barron’s 100 Most Sustainable Companies for three consecutive years; as a member of the Bloomberg Gender Equality Index; and as “Best Workplace for Disability Inclusion” in the Disability Equality Index. Please visit voya.com for more information. Follow Voya Financial on Facebook, LinkedIn and Twitter @Voya.