Voya Financial announced that it is collaborating with SAVVI Financial to offer a COVID Relief Planning Assistant to help those who have been impacted by the pandemic.
Through its Retirement and Employee Benefits businesses, Voya will offer the planning assistant powered by SAVVI Financial to its workplace clients as an online resource for their plan participants and employees.
According to the announcement, the planning assistant will be specifically targeted at those who have been financially impacted by the pandemic and need a personalized short-term financial plan. For example, if an individual has had their income reduced, the program provides educational resources or an action plan that adjusts the individual’s household financial plan by organizing assets, debt, expenses and existing income to create a short-term strategy. The recommended actions also take into account CARES Act benefits, tax consequences and long-term retirement goals. If a person does not qualify, they will be directed to educational resources selected by SAVVI.
“Prior to the pandemic, working Americans had increasingly turned to their employers for help with their health and financial wellness needs,” notes Rob Grubka, President of Voya Employee Benefits. “Therefore, we consider it our responsibility at Voya to offer a resource to our workplace clients to help them support their plan participants and employees during these difficult times.”
Voya also collaborated with SAVVI earlier this year, when the firm launched myHealthMoney to help workers decide how much to contribute to their Voya HSA.
