WINDSOR, Conn., Feb. 18, 2016 /PRNewswire/ -- Voya Financial, Inc. (NYSE: VOYA) announced that its Retirement business has been retained as the exclusive recordkeeper for the Colorado Public Employees' Retirement Association (PERA) 401(k), 457(b), and 401(a) defined contribution plans.
Colorado PERA provides retirement and other benefits to employees of more than 500 government agencies and public entities in the state. This includes current and former educators, first responders, public safety officers and government workers, as well as public employees serving other functions. Voya began its relationship with PERA in 2004, and the new contract extends this valued partnership until 2021. The PERA 401(k) and 457 plans, known as PERAPlus, are voluntary plans and provide additional opportunities for PERA members who are enrolled in the defined benefit and PERA defined contribution plans to save for retirement. The PERA 401(a) defined contribution plan may be selected by certain state employees as their primary retirement savings plan. Cumulatively, the three PERA defined contribution plans have approximately $3.5 billion in assets and more than 82,000 plan participants.
"I am pleased we are extending our partnership with Voya," said Gregory W. Smith, PERA executive director. "Our ongoing relationship with Voya ensures our ability to continue to benefit our membership and control cost — which means more dollars going to our participants' bottom lines."
With a shared commitment to helping employees prepare for retirement, Voya will continue to support PERA's education and marketing efforts in addition to providing recordkeeping and administrative services. PERAPlus and defined contribution plan participants will continue to have access to industry-leading financial tools, including Voya's newly enhanced participant website that features the award-winning myOrangeMoney® retirement income planning resource. In-plan advice and managed account services are also available through Voya Retirement Advisors.
"PERA is one of the largest financial institutions in the state of Colorado, and we are thrilled that they have once again placed their confidence in our business and our people," said Carolyn Johnson, president of Annuities and Tax-Exempt Markets for Voya Financial. "Public employees serve as the backbone of their communities. Voya is proud to help these individuals and their families plan, invest and protect their savings so they can retire better, and we look forward to continuing our successful partnership with PERA."
The extension of this relationship underscores Voya's ability to support some of the largest retirement systems in the country. The company is committed to helping PERA fulfill its mission to promote long-term financial security for its membership.
Colorado PERA Media Contact: Katie Kaufmanis Public Information Officer Office: (303) 863-3814 Cell: (303) 887-5832 email@example.com
Voya Financial Media Contact: Bill Sutton Public Relations Manager Office: (860) 580-2626 Cell: (315) 373-9685 William.Sutton@voya.com
About Colorado PERA Colorado PERA provides retirement and other benefits to more than 529,000 current and former educators, first responders, public safety officers, road and bridge workers, and other public employees who provide valuable service to all of Colorado. PERA is a vital and stable contributor to Colorado's economy, distributing $3.5 billion in 2014 to retirees who live in Colorado. PERA manages $47.7 billion in defined benefit and defined contribution assets, and helps sustain more than 29,000 jobs, making it one of Colorado's best investments.
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 2015. The company had $452 billion in total assets under management and administration as of Dec. 31, 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 2015 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.