Voya Financial, Inc. announced that its retirement business has been chosen to provide plan administration services for the CenterPoint Energy Savings Plan, while Northern Trust has been selected by the Wyoming Retirement System to provide global custody services.
CenterPoint Energy, Inc., is headquartered in Houston and is a domestic energy delivery company on the Fortune 500 list that delivers electric and natural gas to more than five million U.S. customers in six states including Arkansas, Louisiana, Minnesota, Mississippi, Oklahoma and Texas. The plan, which represents nearly $1.7 billion in assets and approximately 9,300 plan participants as of September 28, moved over to Voya's administration platform on October 1.
Voya will provide administrative and recordkeeping services for the CenterPoint Energy Savings Plan and provide participants with a range of decisionmaking and planning tools, including its participant website.
Meanwhile, WRS has moved its $7.4 billion in assets over to Northern Trust’s system. In addition to providing global custody, the latter will also provide securities lending, foreign exchange, and performance reporting services.
WRS administers retirement benefits for employees of over 700 public employers statewide. Currently, the membership totals nearly 42,000 active members, 26,000 retired members, 6,000 vested inactive members and approximately 22,000 nonvested inactive members.
The active membership is comprised of employees from state and local government, school districts, the University of Wyoming, community colleges, and various other political subdivisions.
Voya Financial had $484 billion in total assets under management and administration for 13 million individual and institutional customers as of June 30.
Northern Trust had assets under custody of $6.2 trillion, and assets under management of $946 billion as of that date and has offices in the U.S. in 19 states and Washington, D.C., and 20 international locations in Canada, Europe, the Middle East and the Asia-Pacific region.