Benzinga | May 3, 2021 09:02AM EDT

Voya Financial Reports It Has Been Selected As Recordkeeper, Service Provider For United Health Services 403(b), 457(b) Retirement Plans, No Terms Disclosed

Voya Financial, Inc. (NYSE:VOYA), announced today that it has been selected as the recordkeeper and service provider for the 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 savings plans, which transitioned to Voya in April 2021, represent approximately $285 million in assets under administration and serve more than 7,500 eligible participants.

"With a large, diverse population of employees and providers, United Health Services found that Voya offered the technology, service and financial planning tools that benefited all members of our workforce at varying stages in their careers," said Sheri Lamoureux, chief human resources officer, United Health Services.

As part of its commitment to advancing a secure financial future for all individuals, Voya will provide plan members with access to industry-leading educational tools and resources. These include Voya's myOrangeMoney(r) interactive and educational participant website experience, along with access to the company's Financial Wellness experience.

"We were thrilled to be selected as the new service provider for the United Health Services 403(b) and 457(b) retirement savings plans," said Brodie Wood, SVP and national practice leader of Health Care, Education and Not-for-Profit markets for Voya Financial. "As a company that is also committed to its values and supporting the communities in which it serves, we at Voya are aligned on allowing our values to ultimately guide our actions and decisions, which includes the service and support we offer our customers. We look forward to embarking on a new relationship to extend these values into supporting the hardworking plan participants at United Health Services to secure greater financial outcomes."

As advisor to the United Health Services retirement plans, HANYS Benefit Services (HBS) assisted with the search, analysis and ultimate 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 was an important initiative for them."

Voya is uniquely positioned in the market to serve retirement plans of all sizes and across all sectors, including health care organizations. This includes hospitals, medical centers, physician groups and other health and wellness organizations. Voya's average tenure for a health care client is 28 years and its Tax-Exempt Markets segment supports over 4,700 health care organizations1 with their retirement planning needs. To learn more, visit Voya.com/employers/tax-exempt/healthcare.

As an industry leader focused on the delivery of health, wealth and investment solutions to and through the workplace, Voya Financial is committed to delivering on its mission to make a secure financial future possible for all Americans -- one person, one family, one institution at a time.

1. Voya internal data, as of March 30, 2020.