The company offers insurance and financial products including fixed and variable annuities, life insurance, individual life reinsurance, and retirement savings plans. It also provides policy brokerage, investment planning, mutual funds, wealth management, and employee benefits administration.
Additionally, how do I access my VOYA 401k?
To access your account by phone 24 hours a day, seven days a week, call the Information Line at 1-844-DVA-401k (1-844-382-4015) and press 1 for the automated voice response system. You will need your Social Security Number and Password to utilize this system. If you don’t have your Password, press 0.
Secondly, what type of retirement plan is VOYA?
We help employees achieve the best retirement outcomes by focusing on financial well-being and consistently measuring the retirement readiness of every employee. With tailored 401(k), 403(b), 457 and nonqualified plans, we’re as flexible as your employees are diverse.
Is Voya a good 401k?
Overall, the Voya 401k plan offers users a good variety of funds from which to build their portfolio. The website is very user friendly, allowing customers to see historical information on fund performance, view portfolio performance across different time periods, and plan for retirements using several calculators.
Can I withdraw money from my Voya account?
request a withdrawal online at www.ingretirementplans.com, or call an ING Customer Service Associate at (800) 584-6001. Please note: Transactions may require additional approval prior to processing.
Can I cash out my VOYA 401k?
Since contributions are made on an after-tax basis participants may be eligible to withdraw contributions without owing taxes or a penalty; however, withdrawals of earnings prior to age 59½ and holding the account for five years will be subject to income taxes and a 10% additional tax unless an exception applies.
What is a good rate of return on 401k?
Many retirement planners suggest the typical 401(k) portfolio generates an average annual return of 5% to 8% based on market conditions.
How do I get my 401k money out?
Wait Until You’re 59½
By age 59½ (and in some cases, age 55), you will be eligible to begin withdrawing money from your 401(k) without having to pay a penalty tax. You’ll simply need to contact your plan administrator or log into your account online and request a withdrawal.
How much should I have saved for retirement by 40?
A general rule of thumb is to have one times your income saved by age 30, three times by 40, and so on. See chart below. The sooner you start saving for retirement, the longer you’ll have to take advantage of the power of compound interest.
How long does it take to get a check from VOYA?
401(k) and 457 contributions from your final paycheck are normally received by Voya about 15 to 30 days later. The 45-day waiting period helps ensure all of your contributions are deposited before you roll your account over or take a total distribution.
How much should I have in my 401k?
By the time you are 30, it’s ideal to have a 401k equal to about one year’s salary — so if you make $50,000 a year, you’d want to have $50,000 saved in your 401k account.