{"id":773517,"date":"2023-07-28T10:18:32","date_gmt":"2023-07-28T14:18:32","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/voya-financial-to-serve-as-recordkeeper-for-first-403b-pooled-employer-plan\/"},"modified":"2023-07-28T10:18:32","modified_gmt":"2023-07-28T14:18:32","slug":"voya-financial-to-serve-as-recordkeeper-for-first-403b-pooled-employer-plan","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/voya-financial-to-serve-as-recordkeeper-for-first-403b-pooled-employer-plan\/","title":{"rendered":"Voya Financial to serve as recordkeeper for first 403(b) Pooled Employer Plan"},"content":{"rendered":"

<\/p>\n

Voya Financial to serve as recordkeeper for first 403(b) Pooled Employer Plan<\/b><\/p>\n

\u2018Secure Retirement 403(b) Pooled Employer Plan,\u2019 launched by The Platinum 401k, Inc., follows the passage of the SECURE 2.0 legislation permitting 403(b) PEPs<\/i><\/b><\/p>\n

WINDSOR, Conn.–(BUSINESS WIRE<\/a>)–
\nVoya Financial, Inc. (NYSE: VOYA), a leading health, wealth and investment company, announced today that it will serve as the recordkeeper for the new Secure Retirement 403(b) Pooled Employer Plan (PEP). The PEP, launched by The Platinum 401k, Inc., is the first 403(b) program to the market following the SECURE 2.0 legislation released earlier this year, permitting 403(b) plans subject to the Employee Retirement Income Security Act (ERISA) to maintain a PEP.<\/p>\n

\nThe launch of this new PEP was created in response to SECURE 2.0 and is designed to provide a pooled plan option specifically to 501(c)(3) nonprofit organizations and healthcare related entities, broadening retirement plan access for employees within these industries.<\/p>\n

\n\u201cWe are thrilled to be part of the first 403(b) PEP in the market,\u201d said Brodie Wood, SVP and national practice leader, Healthcare, Education and NFP markets, Voya Financial. \u201cWith the combination of PEPs growing in prominence over the past few years and the opportunity to permit 403(b) plans to maintain a PEP, we see even greater opportunities to provide employees within education, health care and other tax-exempt entities with greater access to retirement savings capabilities, and ultimately providing an opportunity for improved outcomes.\u201d<\/p>\n

\nThe new PEP, which is focused primarily on distribution through both retirement plan and independent financial advisors, will deliver retirement plan services to clients in collaboration with LeafHouse Financial as the ERISA 3(38) Investment Manager; Plan Compliance Services, Inc., an affiliate of The Platinum 401k, Inc., as the ERISA 3(16) plan administrator and Pooled Plan Provider; and Voya Financial serving as the plan recordkeeper.<\/p>\n

\n\u201cWe’re delighted to be the first to market with the first 403(b) Pooled Employer Plan,\u201d said Terrance Power, CEO, The Platinum 401k, Inc. \u201cVoya has developed a great reputation as a leading recordkeeper in the pooled employer plan space, in a short period of time since PEPs were first introduced to the market. We are very pleased to have them as the recordkeeper on this program. We anticipate this PEP will focus primarily on existing ERISA 403(b) plans in large charitable organizations and 501(c)(3) medical groups across the country.\u201d<\/p>\n

\n\u201cLeafHouse is honored to serve as the 3(38) Investment Manager for the Secure Retirement 403(b) Pooled Employer Plan,\u201d added Todd Kading, CEO, LeafHouse Financial. \u201cWorking together with Voya and The Platinum 401k, Inc., we are providing our combined expertise and fiduciary oversight to the 403(b) market. This program is long overdue, and we are excited about bringing the new solution to nonprofit and healthcare workers.\u201d<\/p>\n

\nAs 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 \u2014 one person, one family, one institution at a time.<\/p>\n

About Voya Financial\u00ae<\/sup><\/b><\/p>\n

\nVoya Financial, Inc. (NYSE: VOYA), is a leading health, wealth and investment company with 7,200 employees who are focused on achieving Voya\u2019s aspirational vision: Clearing your path to financial confidence and a more fulfilling life. Through products, solutions and technologies, Voya helps its 14.7 million individual, workplace and institutional clients become well planned, well invested and well protected. Benefitfocus, a Voya company, extends the reach of Voya\u2019s workplace benefits and savings offerings by providing benefits administration capabilities to 16.5 million individual subscription employees across employer and health plan clients. Certified as a \u201cGreat Place to Work\u201d by the Great Place to Work\u00ae<\/sup> Institute, Voya is purpose-driven and committed to conducting business in a way that is economically, ethically, socially and environmentally responsible. Voya has earned recognition as: one of the World\u2019s Most Ethical Companies\u00ae by the Ethisphere Institute; a member of the Bloomberg Gender-Equality Index; and a \u201cBest Place to Work for Disability Inclusion\u201d on the Disability Equality Index. For more information, visit voya.com<\/a>. Follow Voya Financial on Facebook<\/a>, LinkedIn<\/a> and Instagram<\/a>.<\/p>\n

About The Platinum 401k, Inc.<\/b><\/p>\n

\nThe Platinum 401k, Inc., and their affiliates are the retirement plan industry\u2019s most experienced multiple employer and pooled employer plan specialists. CEO Terrance Power, CFP, QPA, AIFA, CRPS has over 30 years of experience working with multiple employer plan clients, professional employer organizations, and associations. They serve as independent plan fiduciaries for over 30 pooled employer plans which cover hundreds of clients in 42 states. Their multiple employer plan\/pooled employer plan assets are currently in excess of $500 million.<\/p>\n

About LeafHouse Financial<\/b><\/p>\n

\nLeafHouse is an experienced, national discretionary investment manager and consultant for the retirement plan industry. LeafHouse specializes in creating investment solutions for retirement plans including investment fiduciary services, manufacturing investment vehicles, managed account programs and enterprise technology solutions. The firm has the organizational strength and technological platform to meet the needs of clients and partners. LeafHouse collaborates with advisors, recordkeepers, investment managers, and administrators to develop creative solutions and build partnerships. The firm aims to modernize technologies, increase communication, and improve data insights for industry leaders to drive change tomorrow. LeafHouse has a vision to transform systems and build new paradigms to make people\u2019s financial lives better.<\/p>\n

LeafHouse Financial, The Platinum 401k, Inc., and Voya Financial are all separate entities.<\/i><\/p>\n

\nVOYA-RET
\n
VOYA-IR<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230728135006\/en\/<\/a><\/span><\/p>\n

Media:
\n<\/b>
Laura Maulucci
\n
Voya Financial
\n
(508) 353-6913
\n
Laura.Maulucci@voya.com<\/a><\/p>\n

\nTerry Power
\n
The Platinum 401k, Inc.
\n
(813) 774-3366
\n
tpower@theplatinum401k.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America Connecticut<\/p>\n

INDUSTRY KEYWORDS:<\/b> Professional Services Business Human Resources Finance Consulting Accounting<\/p>\n

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Voya Financial to serve as recordkeeper for first 403(b) Pooled Employer Plan \u2018Secure Retirement 403(b) Pooled Employer Plan,\u2019 launched by The Platinum 401k, Inc., follows the passage of the SECURE 2.0 legislation permitting 403(b) PEPs WINDSOR, Conn.–(BUSINESS WIRE)– Voya Financial, Inc. (NYSE: VOYA), a leading health, wealth and investment company, announced today that it will serve as the recordkeeper for the new Secure Retirement 403(b) Pooled Employer Plan (PEP). The PEP, launched by The Platinum 401k, Inc., is the first 403(b) program to the market following the SECURE 2.0 legislation released earlier this year, permitting 403(b) plans subject to the Employee Retirement Income Security Act (ERISA) to maintain a PEP. The launch of this new PEP was created in response … <\/p>\n

Continue reading “Voya Financial to serve as recordkeeper for first 403(b) Pooled Employer Plan”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-773517","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nVoya Financial to serve as recordkeeper for first 403(b) Pooled Employer Plan - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/voya-financial-to-serve-as-recordkeeper-for-first-403b-pooled-employer-plan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Voya Financial to serve as recordkeeper for first 403(b) Pooled Employer Plan - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Voya Financial to serve as recordkeeper for first 403(b) Pooled Employer Plan \u2018Secure Retirement 403(b) Pooled Employer Plan,\u2019 launched by The Platinum 401k, Inc., follows the passage of the SECURE 2.0 legislation permitting 403(b) PEPs WINDSOR, Conn.–(BUSINESS WIRE)– Voya Financial, Inc. (NYSE: VOYA), a leading health, wealth and investment company, announced today that it will serve as the recordkeeper for the new Secure Retirement 403(b) Pooled Employer Plan (PEP). The PEP, launched by The Platinum 401k, Inc., is the first 403(b) program to the market following the SECURE 2.0 legislation released earlier this year, permitting 403(b) plans subject to the Employee Retirement Income Security Act (ERISA) to maintain a PEP. 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