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Voya: OKC deferred plans show strong digital engagement, steady distributions in Q2
Summary
Voya presented quarterly engagement and cash-flow data to the Oklahoma City Deferred Compensation Board, reporting high account registration and mobile use, several million dollars of distributions in Q2 and ongoing beneficiary/outreach work.
Trampus Scribe, a Voya representative, told the Oklahoma City Deferred Compensation Board on Aug. 20 that digital engagement among plan participants is strong and that the plans experienced net distributions in the second quarter.
Scribe said the 457 plan had “a little over 4,889 participants with account balances,” and that the plan’s average savings rate was about 8.1%. He reported an average account balance “right around 98,000” in the 457 plan. For the 401(a) plans, Scribe said the 401(a) participant counts and balances differed, and that “as of 06/30, assets were right around 481,000,000 … 16,000,000 … and about 37,000,000,” language he used to summarize totals across plans.
The nu…
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