WINDSOR, Conn.--(BUSINESS WIRE)--Voya Financial, Inc. (NYSE: VOYA), announced today that its Retirement business has been selected as the new recordkeeper for the City and County of San Francisco Deferred Compensation Plan (SFDCP), which is a supplemental 457(b) retirement plan. Callan Associates assisted the San Francisco Employees’ Retirement System (SFERS) in its competitive bid and evaluation process.
San Francisco, which officially became a consolidated city-county in 1856, is the fourth-most populous city in California and the 13th-most populous city in the U.S.1 Its 457(b) deferred compensation plan is a voluntary retirement savings plan for eligible City and County of San Francisco public employees, designed to help complement SFERS pension benefits in retirement. As of Sept. 30, 2019, the SFDCP had approximately 31,200 participants representing more than $3.6 billion in assets under administration. The plan transitioned to Voya in September 2019.
“The Retirement Board chose Voya as the SFDCP’s new recordkeeper based on the firm’s commitment and experience in serving large, complex government clients, its affordable fees and superior services, and Voya’s advanced digital tools to help our participants with retirement planning,” said Diane Chui Justen, deferred compensation plan manager for the City and County of San Francisco. “We have a responsibility to help San Francisco’s hardworking public employees — who dedicate their lives to serving others — plan for a more secure financial future. We look forward to building a successful partnership with Voya and helping our participants save more for retirement so they can retire with dignity.”
As part of its commitment to advancing the retirement readiness of all Americans, Voya will provide SFDCP participants with 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.
“We are thrilled SFERS has placed its trust in Voya to help San Francisco’s public employees — which include police officers, firefighters and government workers, for example — save for their future retirement,” said Heather Lavallee, president of Tax-Exempt Markets for Voya’s Retirement business. “Voya continues to expand its footprint in The Golden State, and we look forward to now supporting one of the largest government retirement plans in Northern California. We consider it a privilege and a great responsibility to help SFDCP participants plan, invest and protect their savings so they can retire better.”
Voya Financial’s Retirement business serves clients of all sizes and across all sectors, including employers in government and other tax-exempt retirement plan markets. As a leader and advocate for greater retirement readiness, Voya Financial is committed to delivering on its vision to be America’s Retirement Company® and on its mission to make a secure financial future possible — one person, one family, one institution at a time.
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.
Callan Associates is a separate entity and not a corporate affiliate of Voya Financial®.
1) San Francisco rank by population as of July 1, 2018 (U.S. Census Bureau)