Voya Financial, Inc. (NYSE: VOYA) has been selected to continue as the retirement plan provider for the City and County of Honolulu following a competitive request-for-proposal process, according to a company statement.

The new five-year contract extends a relationship that began in 1979, when Voya became the sole provider for Honolulu's Deferred Compensation Plan. The plan is structured as a 457(b) deferred compensation plan, holds approximately $1.2 billion in assets, and serves nearly 9,300 participants.

Wealthspire Retirement Advisory served as the independent retirement plan advisor for the City and County of Honolulu during the selection process.

Mayor Rick Blangiardi said the competitive process "confirmed that Voya continues to provide the level of service, expertise, and local support our employees have come to rely on."

Gavin Gruenberg, Government Market Retirement Sales Leader at Voya Financial, noted the company's average government client tenure stands at 31 years, based on internal data as of December 31, 2025. Voya also claims the top position in total governmental 457(b) recordkept assets, according to its analysis of the 2025 PLANSPONSOR Recordkeeping Survey, which was based on self-reported data from 38 participating companies as of December 31, 2024.