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Reduction in Voya Fees

2017 VOYA Cost Reductions for SUNY Retirement Plans

Voya has partnered with SUNY to facilitate reductions in the overall expenses for the SUNY Optional Retirement Program (ORP), the SUNY 403(b) Program, and the NYS Voluntary Defined Contribution Program (VDC).

The total fund expense ratio was reduced from 0.70% to 0.66%. The Mortality & Expense (M&E) Risk Charges (annual fee for the annuity benefit within each fund) for all Variable Investment Options in the SUNY ORP, 403(b), and VDC were reduced as noted below:

SUNY ORP

NYS VDC

Voya Gov't Money Market Portfolio SubaccountAll other Subaccounts
M&E Risk Charge Reduced from 0.10% to 0.00% Reduced from 0.60% to 0.50%
Administrative Charge 0.25% 0.25%
Total Charge 0.25% 0.75%

 

SUNY 403(b)Voya Gov't Money Market Portfolio SubaccountAll other Subaccounts
M&E Risk Charge Reduced from 0.35% to 0.10% Reduced from 1.00% to 0.75%
Administrative Charge 0.20% 0.20%
Total Charge 0.30% 0.95%

 

Before investing, you should carefully consider the investment objectives, risks, charges, and expenses of these investments. The prospectuses for these investments and your enrollment materials contain this and other information. For information about the costs for specific investments, or Voya prospectuses, please visit https://suny.beready2retire.com/.

Benefits