Voya selected by District of Columbia to provide retirement plan services for its public employees

WINDSOR, Conn.--(BUSINESS WIRE)--Voya Financial, Inc. (NYSE: VOYA) announced today it has been selected by the District of Columbia (District) as its new service provider for its 401(a) defined contribution and 457(b) deferred compensation plans (retirement plans). Combined, these plans represent more than 52,000 participant accounts and $4.3 billion in assets.

As service provider, Voya will provide recordkeeping, plan administration and retirement plan services, including online engagement, retirement education, in-plan advice and access to brokerage services and managed accounts to the plan’s participants.

Voya is the No. 1 provider of 457(b) deferred compensation plans for government entities,¹ serving approximately 4 million plan participants with an average government client tenure of 31 years as of Dec. 31, 2025.¹ In addition to its strong governmental client retention, Voya has experienced meaningful organic growth, having onboarded approximately $35 billion and over 1 million new government plan participants across multiple plans from January 2025 through second-quarter 2026. ²

“While the District was already familiar with our competitive advantage in the government space, what resonated with them were the conversations about Voya’s latest products, technology and service offerings — including participant education and reporting capabilities,” said Gavin Gruenberg, Government Market Retirement sales leader, Voya Financial. “They also saw the benefits associated with our experience in the stable value space and, as a result, elected to include the Voya Capital Preservation Fund in their lineup to replace their existing stable value fund.”

The District’s selection underscores Voya’s ability to support large, complex public-sector retirement programs with the scale, service model and participant-focused solutions needed to help employees plan for a more secure financial future. It also reflects Voya’s continued commitment to working with government employers to deliver personalized education, intuitive digital experiences and retirement solutions that meet the evolving needs of today’s workforce.

About Voya Financial^®

Voya Financial, Inc. (NYSE: VOYA) is a leading retirement, employee benefits and investment management company. Voya’s services and solutions help clear the path to financial confidence and a more fulfilling life for individual, workplace and institutional clients, supporting more than 18 million customer relationships. Certified as a “Great Place to Work” by the Great Place to Work® Institute, Voya fosters a culture that values customer centricity, integrity, accountability, agility and inclusivity. Together with customers and partners, Voya employees fight for everyone's opportunity for a better financial future. For more information visit voya.com and follow Voya Financial on LinkedIn, Facebook and Instagram.

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^1 Based off Voya’s analysis of the full survey data provided by ISS Media in connection with the 2025 PLANSPONSOR Recordkeeping Survey. PLANSPONSOR is an ISS Media Brand. Voya ranked No. 1 in total governmental 457(b) deferred contribution plan record-kept assets. Survey results are based on self-reported Dec. 31, 2024, data by 38 participating companies. While companies do not pay to participate in the survey, they do pay a fee to receive the full set of data.

^2 Voya internal data as of June 30, 2026