Voya’s Penland welcomed to the Defined Contribution Alternatives Association’s board of directors
August 17 2023 - 9:00AM
Business Wire
Voya Financial, Inc. (NYSE: VOYA), a leading health, wealth and
investment company, announced today that Kirk Penland, senior vice
president, Nonqualified Markets at Voya Financial, has been
appointed to the board of directors of the Defined Contribution
Alternatives Association (DCALTA). DCALTA, a nonprofit organization
that provides education about the benefits of including alternative
investments within a defined contribution framework, is the
retirement industry’s collective voice of plan sponsors, asset
managers, asset servicers and many other stakeholders seeking to
enhance and secure greater outcomes for retirement plan savers.
“I’m thrilled to be joining the DCALTA board of directors and
teaming up with my industry peers who are equally as passionate
about providing solutions to help overcome market bias when it
comes to alternative investments within DC plans,” said Penland.
“The retirement plan landscape is constantly evolving with
regulatory mandates, product innovation and new approaches to
investment strategies. With the right resources and information,
access to alternative solutions within a retirement program could
help plan participants achieve their long-term retirement goals.
Working with DCALTA provides a great opportunity to push this
message forward in the market.”
Prior to his role at Voya, Penland served as the CEO of Pen-Cal
Administrators Inc. With more than 41 years of experience in
benefits consulting, Penland has helped Pen-Cal, now a solely owned
subsidiary of Voya, become one of the nation’s top providers in the
design, implementation and administration of employee and executive
benefit plans. He is considered an industry leader in the design
and administration of nonqualified executive benefit programs.
“We are excited to have Kirk join the DCALTA board of
directors,” said Jonathan Epstein, president and founder, DCALTA.
“His focus on investment diversification in workplace solutions is
parallel with our mission to provide access to private markets and
other alternative strategies for long-term investors.”
“I am thrilled to be adding Kirk to our board of directors,”
said Serge Boccassini, board chair, DCALTA and retired senior vice
president at Northern Trust Company. “His knowledge, experience and
drive will clearly help us deliver on the DCALTA mission of
enhancing DC participant outcomes by including alternative assets
in a DC framework.”
“At Voya, our focus remains on ensuring a secure financial
future is possible for everyone. To support this, we believe that
providing an ‘ample opportunity’ set of investments is pertinent
for sound investment decision-making, and plan fiduciaries need
access to diversified investments when constructing plan menus,”
added Penland. “We will continue to work with our plan sponsor
clients, and their advisors and consultants, to focus on making
available investment choices that they believe are in their
employees’ best interest.”
In addition to working with industry investment leaders to
provide additional alternative investments to Voya’s nonqualified
deferred compensation executive-benefit solution, Voya continues to
support and invest in holistic workplace solutions to help all
Americans on their journey to a secure financial future.
As an industry leader focused on the delivery of workplace
benefits, savings, and investment solutions to and through the
workplace, Voya is committed to delivering on its mission to make a
secure financial future possible for all — one person, one family,
one institution at a time.
About Voya Financial®
Voya Financial, Inc. (NYSE: VOYA), is a leading health, wealth
and investment company with 7,200 employees who are focused on
achieving Voya’s aspirational vision: Clearing your path to
financial confidence and a more fulfilling life. Through products,
solutions and technologies, Voya helps its 14.7 million individual,
workplace and institutional clients become well planned, well
invested and well protected. Benefitfocus, a Voya company, extends
the reach of Voya’s workplace benefits and savings offerings by
providing benefits administration capabilities to 16.5 million
individual subscription employees across employer and health plan
clients. Certified as a “Great Place to Work” by the Great Place to
Work® Institute, Voya is purpose-driven and committed to conducting
business in a way that is economically, ethically, socially and
environmentally responsible. Voya has earned recognition as: one of
the World’s Most Ethical Companies® by the Ethisphere Institute; a
member of the Bloomberg Gender-Equality Index; and a “Best Place to
Work for Disability Inclusion” on the Disability Equality Index.
For more information, visit voya.com. Follow Voya Financial on
Facebook, LinkedIn and Instagram.
About DCALTA
DCALTA is an IRC 501(c) nonprofit association that exists to
advance the utilization of alternative investments within a Defined
Contribution framework. Through focused research, education, and
advocacy we seek to better secure and enhance participant outcomes
through the inclusion of Private Market Assets, Hedge Funds, and
other alternative investments in the defined contribution model.
Additional information regarding DCALTA’s mission and leadership
can be found at http://www.dcalta.org.
VOYA-RET
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Media Contact: Laura Maulucci Voya Financial (508)
353-6913 Laura.Maulucci@voya.com
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