Voya Financial Selected as New Service Provider for Sibley Heart Center Cardiology Retirement Plan

Rhea-AI Summary

Voya Financial (NYSE: VOYA) has been appointed as the recordkeeper and service provider for the Kidsheart 401(k) Profit Sharing Plan at Sibley Heart Center Cardiology, which treats over 40,000 children annually. The plan, serving more than 300 participants with assets around $53 million, transitioned to Voya's platform in Summer 2020. This partnership aims to enhance retirement readiness through improved educational tools and resources for employees, aligning with Voya's mission to support financial wellness across various sectors.

Positive

• Appointment as recordkeeper for Kidsheart 401(k) plan enhances Voya’s client portfolio.
• Plan represents approximately $53 million in assets, boosting Voya's managed assets.
• Voya committed to improving retirement readiness with educational tools and localized support.

Negative

• None.

WINDSOR, Conn.--(BUSINESS WIRE)--Voya Financial, Inc. (NYSE: VOYA), announced today that its Retirement business has been selected as the new recordkeeper and service provider for the Kidsheart 401(k) Profit Sharing Plan for Sibley Heart Center Cardiology.

Treating more than 40,000 children annually, Sibley Heart Center Cardiology provides comprehensive cardiac services for congenital and acquired heart disease from infancy through young adulthood, as well as prenatal diagnostics. It is one of the largest pediatric cardiac programs in the country and is located in Atlanta. As of Sept. 1, 2020, the organization’s 401(k) plan serves more than 300 participants and represents approximately $53 million in assets. The plan transitioned to Voya’s administrative recordkeeping platform this past summer.

“Sibley Heart Center Cardiology is very excited to have Voya as our new recordkeeper and service provider for our employee retirement plan. Voya has a strong track record of providing industry-leading customer service to plan participants, which was paramount during our selection process,” said Dr. Brandon Harden, chairman of Sibley Heart Center Cardiology’s Retirement Committee. “We are excited to provide an upgrade in the educational tools and digital experience for our employees, which will better prepare them for retirement. This new relationship with Voya will enhance the financial future for our valued employees.”

As part of its commitment to advancing the retirement readiness of all Americans, Voya will provide plan members with localized support and access to industry-leading educational tools and resources. These include Voya’s myOrangeMoney^® interactive and educational participant website experience, as well as communication and education programs designed to engage and motivate employees to save and achieve their financial wellness goals.

“Each year, thousands of families trust the amazing physicians and medical staff at Sibley Heart Center Cardiology to keep them healthy and safe,” said Brodie Wood, SVP and national practice leader of Healthcare, Education and Not-for-Profit markets for Voya Financial. “We consider it a great privilege that Sibley Heart Center Cardiology has now placed its trust in Voya to help its hardworking men and women — who dedicate their lives to serving others — save for retirement and advance their financial wellness goals.”

Aon Investment U.S.A., an independent defined contribution plan consultant, assisted Sibley Heart Center Cardiology during its competitive bid and evaluation process.

Voya’s Retirement business serves clients of all sizes and across all sectors, including health care organizations ranging from startups to those with $1 billion or more in assets. Specifically, this includes hospitals, medical centers, physician groups and other health and wellness organizations. Voya’s average tenure for a health care client is 27 years, and the Tax-Exempt Markets segment for Voya’s Retirement business supports over 4,800 health care organizations with their retirement planning needs.¹ To learn more, visit https://www.voyadifference.com/healthcare/

1) Voya plan data, as of 12/31/18

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 $7.5 billion in revenue in 2019. The company had $606 billion in total assets under management and administration as of June 30, 2020. 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 a 2020 World’s Most Admired Company by Fortune magazine; 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.

Aon Investment U.S.A. is a separate entity and not a corporate affiliate of Voya Financial^®.

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