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Voya updates ORP tools, Spanish support and participant protections; reports about $565M in ORP assets
Summary
Voya representatives told the PERS defined contribution committee they manage nearly $565 million in ORP assets (as of June 30, 2024), highlighted local adviser engagement, a new integrated dashboard that can show multi‑vendor accounts, expanded Spanish‑language support including Spanish statements, and a fraud‑protection guarantee for registered users.
Voya presenters briefed the PERS defined contribution committee on their ORP services, participant engagement and technology tools. Tenille Greenlee (regional vice president) reported that Voya‑reported ORP assets approached $565,000,000 as of June 30, 2024.
Voya emphasized local adviser capacity and outreach. "We have 7 dedicated local advisers, had over 4,600 in‑person or remote meetings with individuals, and over 8,500 participant calls," a Voya presenter said, underscoring on‑site and remote support for employees and HR offices.
Voya also described a new interactive participant dashboard rolled out earlier in the year. The dashboard can integrate accounts held at other vendors so participants can view multiple vendor accounts in a single interface, the presenters said. Voya reported that it has implemented Spanish language support across participant websites, mobile apps and enrollment tools and that it will send Spanish statements to participants who select that preference.
The company described a "safe guarantee" that can make participants whole following fraud if participants register accounts, check them periodically and promptly report suspected unauthorized activity. Voya also highlighted MyOrangeMoney and other educational campaigns available to non‑members as general financial planning tools.
Board discussion focused on recordkeeping and classification of participant location codes; Voya said it had updated roughly 119 records that had been assigned a default PERS location mask and would reclassify them into specific institutions. There was no committee vote on the Voya presentation; staff and vendors left the committee with action items to continue improving reporting accuracy and participant outreach.
