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Voya selected as new service provider for Memorial Health System’s retirement plans
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Voya Financial, Inc. (NYSE: VOYA) has been appointed as the new recordkeeper and service provider for the retirement savings plans of Memorial Health System in Gulfport, Mississippi. The transition, which occurred in September 2021, involves managing approximately $250 million in assets for 2,000 participants across various retirement plans. Voya is set to enhance the financial wellness of Memorial employees by offering industry-leading educational tools and resources. This partnership aligns with Voya's commitment to making a secure financial future accessible to all Americans.
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Selected as the recordkeeper for Memorial Health System's retirement plans.
Management of approximately $250 million in retirement plan assets.
Access to Voya's comprehensive educational resources for employees.
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WINDSOR, Conn.--(BUSINESS WIRE)--
Voya Financial, Inc. (NYSE: VOYA), announced today that it has been selected as the new recordkeeper and service provider for the Memorial Health System retirement savings plans.
Memorial Health System, based in Gulfport, Mississippi, is a not-for-profit medical complex jointly owned by the City of Gulfport and Harrison County. Its mission is “to heal, inspire and transform the health of our community.” The retirement plans, which transitioned to Voya in September 2021, consist of two 403(b) plans, one 401(a) plan and one 457(b) plan, which represents approximately $250 million in retirement plan assets and services 2,000 participants.
“In looking for a retirement plan provider, we were really looking for a provider who could understand the intricacies involved in our plan offerings,” said Myron S. McCoo, VP, Human Resources for Memorial Health System. “Voya’s solutions were compelling and aligned with our needs. Ultimately, the white-glove service they provided during our transition demonstrated that they were the right choice.”
As part of its commitment to improve the financial wellness of Memorial employees, Voya will provide plan members with access to industry-leading educational tools and resources. These include Voya’s myOrangeMoney® interactive and educational participant website experience, along with access to the company’s Financial Wellness experience and Retirement Readiness resources.
“We are excited to be selected as the new service provider for Memorial’s retirement plans,” said Brodie Wood, SVP and national practice leader for Health Care Markets for Voya Financial. “Their mission ‘to heal, inspire and transform the health of our community’ aligns with Voya’s values and community focus and underscores our commitment to making a secure financial future possible for all Americans.”
Ernst & Young assisted Memorial with the search and ultimate selection of Voya as the plans’ recordkeeper.
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 29 years, and its Tax-Exempt Markets segment supports more than 4,500 health care organizations with their retirement planning needs.1 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 Dec. 31, 2021.
About Voya Financial®
Voya Financial, Inc. (NYSE: VOYA), is a leading health, wealth and investment company that provides products, solutions and technologies that help Americans become well planned, well invested and well protected. Serving the needs of 14.3 million individual, workplace and institutional clients, Voya has approximately 6,000 employees and had $644 billion in total assets under management and administration as of June 30, 2022. Certified as a “Great Place to Work” by the Great Place to Work® Institute, Voya is purpose-driven and is equally committed to conducting business in a way that is socially, environmentally, economically and ethically responsible. Voya has earned recognition as: one of the World’s Most Ethical Companies® by the Ethisphere Institute; a member of the Bloomberg Gender-Equality Index; and a “Best Place to Work for Disability Inclusion” on the Disability Equality Index. For more information, visit voya.com. Follow Voya Financial on Facebook, LinkedIn and Twitter @Voya.
