Morningstar Retirement Manager
Voya Retirement Advisors, LLC (VRA), powered by Morningstar Investment Management LLC
Saving in the SUNY Retirement Programs with Voya can be easy but it may be hard to know if your investment selections and savings rate decisions will lead to meeting your retirement goals. To help you feel more in control of your financial future, the SUNY Optional Retirement Program (ORP) and Voluntary 403(b) Plan offer you access to investment advisory services from Voya Retirement Advisors, LLC (VRA), powered by Morningstar Investment Management LLC. You can choose the personalized service that’s right for you.
Prefer a helping hand while still maintaining control over your investments? Then consider the Online Advice option that provides investment advice and educational tools at no additional cost to you.
Want investment professionals to manage your account for you? With the Professional Management fee-based program you not only get personalized advice and guidance from the investment professionals at VRA but also have a service that puts those recommendations into action for you at an
additional cost.
How do you decide which service is right for you? It depends on how comfortable you are with managing your retirement savings. If you don’t have the time, knowledge or interest to manage your account on an ongoing basis, the Professional Management program may be appropriate. With this fee-based (additional cost) service, VRA does it all for you – from monitoring your investments to implementing transactions and rebalancing your account. VRA will automatically make changes, as needed, to how and where you are invested. You will be notified about any investment changes after they are made. VRA will not change the amount you are contributing to the plan.
The Online Advice service may be appropriate if you want to maintain control over your SUNY Retirement Programs with Voya account. While VRA will provide recommendations on how to invest your account at no additional cost to you, you implement the recommendations and rebalance your portfolio as necessary.
For more information, log into your SUNY Retirement Programs with Voya account and click Get Investment Advice. Follow the easy prompts to choose the advisory services option that works for you. If you have any questions about these services, please call (800) 584-6001 and ask to speak with a VRA Investment Advisor Representative. You can speak with them, at no cost, weekdays between 8 am - 9 pm ET, excluding stock market holidays.
IMPORTANT: Projections or other information generated by VRA regarding the likelihood of various retirement income and/or investment outcomes are hypothetical in nature, do not reflect actual results (including investment results) and are not guarantees of future results. Results may vary with each use and over time.
Advisory Services provided by Voya Retirement Advisors, LLC (VRA). VRA is a member of the Voya Financial (Voya) family of companies. For more information, please read the Voya Retirement Advisors Disclosure Statement, Advisory Services Agreement, and Advisory Services Overview. You may also request these from a VRA Investment Advisor Representative by calling your plan’s information line. VRA has retained Morningstar Investment Management LLC as an independent “financial expert” (as defined in the Department of Labor’s Advisory Opinion 2001-09A) to develop, design, and implement the asset allocations and investment recommendations generated by the Advisory Services. Morningstar Investment Management LLC is a federally registered investment adviser and wholly owned subsidiary of Morningstar, Inc. Neither VRA nor Morningstar Investment Management LLC provides tax or legal advice. If you need tax advice, consult your accountant or if you need legal advice consult your lawyer. Future results are not guaranteed by VRA, Morningstar Investment Management LLC or any other party and past performance is no guarantee of future results. The Morningstar name and logo are registered trademarks of Morningstar, Inc. All other marks are the exclusive property of their respective owners. Morningstar Investment Management LLC and Morningstar, Inc. are not members of the Voya family of companies.
You should consider the investment objectives, risks, and charges and expenses of the variable product and its underlying fund options carefully before investing. The prospectuses/prospectus summaries containing this and other information can be obtained by contacting your local representative. Please read the information carefully before investing.
Variable annuities are intended as long-term investments designed for retirement purposes. Withdrawals from an annuity may be subject to an early withdrawal fee and, if taken prior to age 59½, an IRS 10% premature distribution penalty tax will apply, unless an IRS exception applies. Money taken from the annuity will be taxed as ordinary income in the year the money is distributed. Account values fluctuate with market conditions, and when surrendered the principal may be worth more or less than its original amount invested. An annuity does not provide any additional tax deferral benefit, as tax deferral is provided by the plan. Annuities may be subject to additional fees and expenses to which other tax-qualified funding vehicles may not be subject. However, an annuity does provide other features and benefits, such as lifetime income payments and death benefits.
For 403(b)(1) fixed or variable annuities, employee deferrals (including earnings) may generally be distributed only upon your: attainment of age 59½, severance from employment, death, disability, or hardship. Note: Hardship withdrawals are limited to employee deferrals made after 12/31/88. Exceptions to the distribution rules: No Internal Revenue Code withdrawal restrictions apply to ‘88 cash value (employee deferrals (including earnings) as of 12/31/88) and employer contributions (including earnings). However, employer contributions made to an annuity contract issued after December 31, 2008 may not be paid or made available before a distributable event occurs. Such amounts may be distributed to a participant or if applicable, the beneficiary: upon the participant’s severance from employment or upon the occurrence of an event, such as after a fixed number of years, the attainment of a stated age, or disability.