We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Can Multiple Employer Solutions Boost VOYA's Retirement Business?
Read MoreHide Full Article
Key Takeaways
Voya is expanding its MES business with new PEP capabilities and recordkeeping services for employers.
MES assets reached nearly $200 billion, while PEP assets surged over 70% year over year as of Sept 2026.
Rising PEP adoption could boost Voya's fee-based revenues, but profitability hinges on sustained asset growth.
Voya Financial, Inc. (VOYA - Free Report) is expanding its Multiple Employer Solutions (MES) business by introducing additional pooled employer plan (PEP) capabilities and enhancing its recordkeeping services. The move aims to provide employers and retirement plan advisors with greater flexibility in managing workplace retirement plans.
VOYA's MES business has gained scale, with assets nearly doubling in two years to approximately $200 billion as of mid-2026. PEP adoption has also increased, with employer adoption rising more than 30%, participation growing over 50%, and PEP assets increasing more than 70% year over year as of Sept. 30, 2026.
The expanded PEP offering will provide multiple investment lineups and fiduciary options, allowing plan sponsors and advisors to select arrangements that better suit their needs. Enhanced recordkeeping capabilities could also simplify plan administration and improve the overall retirement experience.
These developments could strengthen Voya Financial's position in the workplace retirement market. Higher PEP adoption may help the company reach more employers and participants, while growth in retirement plan assets could support recurring, fee-based revenue. The expanded offering may also create opportunities to deepen relationships with existing clients and attract new plan sponsors.
However, the financial contribution of these enhancements will depend on continued adoption, asset growth and the company's ability to convert expanded capabilities into profitable business.
What Are Peers Doing?
Principal Financial Group, Inc. (PFG - Free Report) offers four PEPs, including Principal EASE, which targets small and midsize businesses. Its collaboration with FuturePlan combines Principal's recordkeeping and investment capabilities with specialized plan administration, supporting greater flexibility and service efficiency.
Prudential Financial, Inc. (PRU - Free Report) offers institutional retirement solutions, including pension risk transfer (PRT), stable value products and retirement income solutions. Its PRT business helps employers transfer defined-benefit pension liabilities to insurers. In August 2026, Prudential joined Standard Life, CVC, Goldman Sachs and MS&AD in a strategic partnership to expand Standard Life's UK PRT business, strengthening its presence in institutional retirement.
VOYA’s Price Performance
Shares of Voya Financial have gained 47.1% in the past year compared with the industry’s growth of 29.1%.
Image Source: Zacks Investment Research
VOYA’s Valuation
Voya Financial shares are trading at a price-to-book value of 1.48X, lower than the industry average of 2.35X.
Image Source: Zacks Investment Research
Estimate Movement for VOYA
The Zacks Consensus Estimate for VOYA’s earnings per share (EPS) for 2026 and 2027 has moved down 1.1% and 0.4%, respectively, in the past 30 days.
Image Source: Zacks Investment Research
The consensus estimate for VOYA’s 2026 EPS indicates a year-over-year increase, while the same for 2027 EPS and revenues indicates a year-over-year rise.
View the Zacks #1 Rank List
Image: Bigstock
Can Multiple Employer Solutions Boost VOYA's Retirement Business?
Key Takeaways
Voya Financial, Inc. (VOYA - Free Report) is expanding its Multiple Employer Solutions (MES) business by introducing additional pooled employer plan (PEP) capabilities and enhancing its recordkeeping services. The move aims to provide employers and retirement plan advisors with greater flexibility in managing workplace retirement plans.
VOYA's MES business has gained scale, with assets nearly doubling in two years to approximately $200 billion as of mid-2026. PEP adoption has also increased, with employer adoption rising more than 30%, participation growing over 50%, and PEP assets increasing more than 70% year over year as of Sept. 30, 2026.
The expanded PEP offering will provide multiple investment lineups and fiduciary options, allowing plan sponsors and advisors to select arrangements that better suit their needs. Enhanced recordkeeping capabilities could also simplify plan administration and improve the overall retirement experience.
These developments could strengthen Voya Financial's position in the workplace retirement market. Higher PEP adoption may help the company reach more employers and participants, while growth in retirement plan assets could support recurring, fee-based revenue. The expanded offering may also create opportunities to deepen relationships with existing clients and attract new plan sponsors.
However, the financial contribution of these enhancements will depend on continued adoption, asset growth and the company's ability to convert expanded capabilities into profitable business.
What Are Peers Doing?
Principal Financial Group, Inc. (PFG - Free Report) offers four PEPs, including Principal EASE, which targets small and midsize businesses. Its collaboration with FuturePlan combines Principal's recordkeeping and investment capabilities with specialized plan administration, supporting greater flexibility and service efficiency.
Prudential Financial, Inc. (PRU - Free Report) offers institutional retirement solutions, including pension risk transfer (PRT), stable value products and retirement income solutions. Its PRT business helps employers transfer defined-benefit pension liabilities to insurers. In August 2026, Prudential joined Standard Life, CVC, Goldman Sachs and MS&AD in a strategic partnership to expand Standard Life's UK PRT business, strengthening its presence in institutional retirement.
VOYA’s Price Performance
Shares of Voya Financial have gained 47.1% in the past year compared with the industry’s growth of 29.1%.
Image Source: Zacks Investment Research
VOYA’s Valuation
Voya Financial shares are trading at a price-to-book value of 1.48X, lower than the industry average of 2.35X.
Image Source: Zacks Investment Research
Estimate Movement for VOYA
The Zacks Consensus Estimate for VOYA’s earnings per share (EPS) for 2026 and 2027 has moved down 1.1% and 0.4%, respectively, in the past 30 days.
Image Source: Zacks Investment Research
The consensus estimate for VOYA’s 2026 EPS indicates a year-over-year increase, while the same for 2027 EPS and revenues indicates a year-over-year rise.
VOYA stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.