Voya 2013 Annual Report Download - page 22

Markets and Distribution
Our Institutional Retirement Plans business can be categorized into two markets: Corporate and Tax
Exempt. A brief description of each, including sub segments and strengths are as follows:
Corporate Markets:
•Small-Mid Corporate Market. In this growth market we offer full service solutions to defined contribution
plans of small-mid corporate segment (e.g., typically less than 3,000 employees). Our comprehensive
product offering (including flexible investment choices), highly competitive fiduciary solutions, dedicated
and proactive service teams and product and service innovations leveraged from our expertise in the
Large Corporate market make us one of a small group of providers who can service small-mid corporate
plans as they continue to grow. Our industry leadership in this market is evidenced by our sales results for
the nine months ended September 30, 2013 for plans with less than 500 participants, which places us as
the number three provider among other leading life insurance company competitors in the United States.
•Large Corporate Market. In this market we offer recordkeeping services to defined contribution plans
of large to mega-sized corporations. Our solutions and capabilities support the most complex
retirement plans with a special focus on strategic relationship management and participant retirement
readiness. We are dedicated to providing engaging education, technology-based tools and award
winning print materials to help plan participants achieve a secure and dignified retirement.
Tax Exempt Markets:
•Education Market. We offer comprehensive full service offerings to both public and private K-12
educational entities as well as public and private higher education institutions, which we believe are
attractive growth segments. In the United States, we rank third in the K-12 education market and fourth
in higher education by assets as of September 30, 2013. Our innovative solutions to reduce
administrative burden, deep technical and regulatory expertise and strong on-site service teams
continue to support our position as one of the top providers in this market.
•Healthcare Market. In this market we service hospitals and healthcare organizations by offering full
service solutions for a variety of plan tax codes. Like the education market, we have strong
administrative solutions for healthcare plan sponsors as well as award-winning participant
communications and retirement tools in order to better prepare plan participants for retirement.
•Government Market. We provide both full service and recordkeeping only offerings to small and large
governmental entities (e.g., state and local government). For large governmental sponsors, we offer
highly complex recordkeeping solutions that are tailored for each client. We also offer a broad range of
proprietary, non-proprietary and stable value investments. Our flexibility and expertise help make us
the third ranked provider in this market in the United States based on assets under management and
administration as of September 30, 2013.
Products for Institutional Retirement Plans are distributed nationally through multiple unaffiliated channels
or via affiliated distribution including direct sales teams. We offer localized support to these groups and their
clients during and after the sales process, a broad selection of investment options and flexibility of choice and
top-tier fiduciary solutions to help their clients meet or exceed plan guidelines and responsibilities.
Unaffiliated Distribution:
•Independent Representatives. We are working with over 7,000 sales agents who primarily sell fixed
annuity products from multiple vendors in the education market. Activities by these representatives are
centered on increasing participant enrollments and deferral amounts in our existing plans.
•Independent Producers. Over 12,000 wirehouse and independent producers (as of December 31, 2013)
are the primary distributors of our small-mid corporate market products, but they also distribute
products to the education, healthcare and government markets. These producers typically present their
clients (i.e., employers seeking a defined contribution plan for their employees) with plan options from
multiple vendors for comparison.
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