Continuing a trend of consolidation among independent broker-dealers, Cetera Financial Group has agreed to acquire Voya Financial’s retail brokerage business serving around $40 billion in client assets, the firms said on Monday.
Subsequently, what is a benefit plan sponsor?
What Is a Plan Sponsor? A plan sponsor is a designated party—usually a company or employer—that sets up a healthcare or retirement plan, such as a 401(k), for the benefit of the organization’s employees.
Correspondingly, what does VOYA stand for?
Voice of Youth Advocates
| Acronym | Definition |
|---|---|
| VOYA | Voice of Youth Advocates |
| VOYA | Voyageurs National Park (US National Park Service) |
| VOYA | Volunteer of the Year Awards (Reading Is Fundamental, Inc.) |
Is Voya Financial a good company?
Voya Financial is a financially strong and stable company that has been rewarded an A (excellent) rating from AM Best. The “A” rating assures customers that Voya is an insurance company capable of offering guaranteed, secure coverage.
What did VOYA financial used to be called?
ING U.S.
Who can sponsor a 401 K plan?
A retirement plan sponsor is a company or employer that offers a retirement plan as a benefit to employees. As such, if you own a business or company that offers a 401(k) plan, for example, your business qualifies as a retirement plan sponsor.
Is Plan sponsor a fiduciary?
Under ERISA, when a plan sponsor is acting as a fiduciary, it must do so in the best interests of plan participants and their beneficiaries. Who is a fiduciary? Many of the activities involved in operating a plan make the person or entity performing them a fiduciary.
What is the difference between plan sponsor and plan administrator?
The sponsor of a 401(k) plan is the entity that establishes the retirement plan for a company and its workers. Normally, this is the employer itself, a union, or a selected employee of the firm. … A 401(k) plan administrator is the organization that actually oversees the operation of the plan.
Can you withdraw money from VOYA?
If you are age 59½ or older, you may withdraw* from your account balance for any reason. Age 59½ Withdrawals can be taken as often as twice a year. To initiate an Age 59½ Withdrawal, call the Yum! Brands Savings Center.
What bank does VOYA use?
Capital One Bank
How much does VOYA charge to manage account?
For wrap programs,
| Strategy | Fee Rate |
|---|---|
| Multi-Asset Strategies | 0.10% – 1.00% |