Defined Benefit Plans
Streamlined retirement plan administration across multiple plans for an integrated, cost-effective solution
Defined Benefit (DB) plans remain an important benefit for many employers and play a pivotal role in helping employees generate an income stream in retirement. We help employers manage risk and administrative responsibilities while helping employees achieve the best retirement outcomes.
Strategic, consultative approach
With a staff of critical thinkers and problem solvers, we understand the uniqueness of each plan sponsor. The solutions we develop are practical and actionable — and customized for each organization’s needs. Our clients can depend on us as trusted professionals with deep industry knowledge.
We use advanced technologies, consolidate data into a single source, and streamline administrative processes to help lower overall plan administration expenses. We remove the administrative burden so plan sponsors can focus on running their business.
Outstanding participant experience
A robust participant website helps make it easier to view and model benefits, conduct transactions and plan for retirement using sophisticated benefit calculators. Our call center professionals have deep knowledge in DB plans and will understand the plan’s history, unique plan provisions and formulas. In addition, our representatives work with employees and retirees in a personal way.
Voya’s service relationship with Milliman, a leading actuarial firm, provides the foundation for our DB administration systems and service models. With both actuaries and DB administration experts on staff, we support the complex needs of each pension plan and can provide customized strategies to meet the plan’s objectives.
Voya’s Total Retirement Solution
Full service defined contribution, defined benefit and nonqualified administration services for a seamless retirement plan management experience.
Defined Benefit Administrative Services are offered by Voya Financial Services and administered by Milliman, Inc. Milliman, Inc. is not affiliated with the Voya® family of companies.
Products and services offered through the Voya® family of companies.