Voya Financial announced that it has added an innovative new target date fund solution – MyCompass Index – for the firm’s retirement plan customers to address the unique retirement needs of individual plan participants.
According to the firm’s announcement, the MyCompass Index leverages the expertise of flexPATH retirement planning capabilities along with fund management from experts in the marketplace, including Voya’s own stable-value capabilities. In addition to a competitive expense structure and integrated enrollment experience, the MyCompass Index offers key benefits such as multiple participant glide paths, fund name transparency and added fiduciary protection, the firm explains.
“We understand that no two individuals are alike when it comes to planning for their future,” says Jeff Cimini, senior vice president, Retirement Product Management at Voya Financial. “We’re excited to offer the new MyCompass Index solution to our participants as it provides a unique saving solution that is truly focused on the individual, helping them to secure the best possible retirement outcome.”
