Voya Financial, Inc. reports news about its retirement, employee benefits and investment management businesses in the United States. Recurring updates include quarterly earnings by segment, fee-based revenue, net underwriting results, assets under management, capital deployment, common and preferred stock dividends, and investment income from the company’s general account and investment management activities.
Company news also covers retirement-savings policy developments, workplace-benefits collaborations, disability inclusion through Voya Cares, and shareholder commentary on governance, management accountability and the employee benefits stop-loss business.
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Easterseals has released the State of Disability Equity and Access report, highlighting issues faced by over 61 million individuals with disabilities in the U.S. The report emphasizes the importance of equity and inclusion across four key areas: education, employment, health, and transportation. Key findings call for responding to systemic disparities, increasing access to healthcare services, and advancing accessible transportation. Kendra E. Davenport of Easterseals stated the report serves as a benchmark for future progress in civil rights for the disability community. Voya Financial supports the report, underscoring its commitment to disability inclusion in the workplace as a competitive advantage. Stakeholders gathered with lawmakers to advocate for policies to address these disparities, aiming for lasting change.
Voya Financial has released a new research paper highlighting the significance of diversity, equity, and inclusion (DEI) initiatives in improving financial outcomes for Black and Latino employees. Conducted among over 163,000 employees, the study reveals troubling disparities in retirement plan participation and savings rates among different racial groups. Participation rates were found at 53% for Black employees and 45% for Latino employees, compared to 66% for White employees. Savings rates averaged 7.1% and 6.9% for Black and Latino employees, respectively, significantly lower than the 8% overall rate. Furthermore, average account balances were markedly lower for Black ($45,000) and Latino ($43,000) employees compared to their White ($99,000) and Asian ($86,000) counterparts. The study emphasizes the importance of automatic enrollment features in closing these gaps.
Voya Financial (NYSE: VOYA) announced its participation in the Puppy with a Purpose program in collaboration with America’s VetDogs, aimed at raising a puppy named Cooper to become a service dog for veterans and first responders with disabilities. Voya's commitment includes covering all costs associated with Cooper's upbringing over the next year. As highlighted by Voya’s executive, Kevin Silva, this initiative reflects the company's dedication to supporting the disabilities community. The service dogs trained through this program provide critical assistance to individuals facing various challenges, including PTS and mobility issues. This partnership not only exemplifies Voya's corporate responsibility but also underscores its culture of giving back, as expressed by veteran John Albanese.
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