RFP_Attachment_6.10_(Part%202)_Voya%20403(b)%20Data.xlsx

XLSX spreadsheet 36 KB Posted

Attached to
Recordkeeping, Administration, and Investment Options for the State of Tennessee's Optional Retirement Program and Public Higher Education 403(b) Plans
Solicitation number
RFP 30901-65526
Issued by
Davidson County, Tennessee

About this file

Written by GovTribe AI ·

This attachment is a data exhibit for the State of Tennessee's Optional Retirement Program and Public Higher Education 403(b) Plans recordkeeping and administration RFP, detailing the Voya 403(b) plan data across the combined portfolio, University of Tennessee (UT), and Tennessee Board of Regents (TBR) systems. The file provides comprehensive participant and financial data as of December 31, 2025, including payroll processing specifications, contribution frequencies, and funding mechanisms. The combined plan manages 545 active contributing participants, 86 active non-contributing participants, and 33 terminated participants with balances, with total active and contributing account balances of $21.4 million and total terminated participant account balances of $2.2 million.

The data encompasses three years of historical information (2023-2025) covering cash flows, participant breakdowns, stable value or fixed account holdings, investment fund lineups, and transition activity metrics. Contributions for 2025 totaled $1.93 million across the combined plan, while total account balances average $79,105 per participant. The plan utilizes bi-weekly and monthly contribution frequencies transmitted electronically via wire or ACH through multiple payroll locations and files. The current fund lineup includes target-date retirement funds, bond funds, equity funds, and international options managed primarily through Vanguard and American Funds vehicles. The plan sponsor may terminate the Voya contract with a $1,500 termination fee and no deferred sales charges, with fixed account balances distributed over four years and one day following full withdrawal requests.

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Payroll Info

Participant Breakdown
Voya
CombinedUTTBR
202520242023202520242023202520242023
1. Frequency of contributions (weekly/bi-weekly/monthly)Bi-WeeklyBi-WeeklyBi-WeeklyBi-WeeklyBi-WeeklyBi-WeeklyBi-Weekly & MonthlyBi-Weekly & MonthlyBi-Weekly & Monthly
2. Medium used to remit contributions files (electronic, disk, magnet tape, etc.)ElectronicElectronicElectronicElectronicElectronicElectronicElectronicElectronicElectronic
3. Funding method (check, wire, ACH)Wire/ACHWire/ACHWire/ACHWire/ACHWire/ACHWire/ACHWire/ACHWire/ACHWire/ACH
4. Number of payroll locations625266651921
5. Number of payroll files525252262626262626

Participant Breakdown

Participation Breakdown
Voya
CombinedUTTBR
202520242023202520242023202520242023
Total Active345322323187156172158166151
Total Inactive335353153214182139
Total Accounts378375376202188186176187190

Cash Flow

Total Plan Cash Flow
Voya
CombinedUTTBR
202520242023202520242023202520242023
Contributions$ 1,928,955.00$ 1,759,614.59$ 1,811,275.94$ 1,360,773.10$ 1,153,292.11$ 1,188,066.22$ 568,181.90$ 606,322.48$ 623,209.72
Withdrawals$ (1,228,328.36)$ 3,535,923.11$ 1,785,504.81$ (2,234,015.39)$ 2,986,062.00$ 1,141,037.23$ 1,005,687.03$ 549,861.11$ 644,467.58
Net Cash Flow$ 3,157,283.36$ (1,776,308.52)$ 25,771.13$ 3,594,788.49$ (1,832,769.89)$ 47,028.99$ (437,505.13)$ 56,461.37$ (21,257.86)

SV or Fixed Participants

Stable Value/Fixed Participant Count by Age
Voya
CombinedUTTBR
202520242023202520242023202520242023
25 and Under000
Age 26 - 35000
Age 36 - 45550
Age 46 - 55963
Age 56 - 651899
Age 66 - 70990
Age 71 - 79651
Age 80+220
**Current Day Numbers Available Only**

SV or Fixed Assets

Market Value Stable Value / Fixed Assets by Age
Voya
CombinedUTTBR
202520242023202520242023202520242023
25 and Under$ - 0$ - 0$ - 0
Age 26 - 35$ - 0$ - 0$ - 0
Age 36 - 45$ 21,196.50$ 21,196.50$ - 0
Age 46 - 55$ 107,616.76$ 99,399.94$ 8,216.82
Age 56 - 65$ 506,020.29$ 408,203.89$ 97,816.40
Age 66 - 70$ 160,147.17$ 160,147.17$ - 0
Age 71 - 79$ 294,389.00$ 267,274.13$27,114.87
Age 80+$ 46,663.50$ 46,663.50$ - 0
**Current Day Numbers Available Only**

SV or Fixed Cash Flow

Stable Value / Fixed Cash Flow
Voya
CombinedUTTBR
202520242023202520242023202520242023
Contributions$ 74,938.53$ 78,009.42$ 109,495.22$ 72,449.53$ 68,441.42$ 64,743.26$ 2,489.00$ 9,568.00$ 44,751.96
Withdrawals$ 124,984.06$ 137,020.11$ 65,733.80$ 104,313.72$ 80,206.25$ 36,500.01$ 20,670.34$ 56,813.86$ 29,233.79
Net Cash Flow$ (50,045.53)$ (59,010.69)$ 43,761.42$ (31,864.19)$ (11,764.83)$ 28,243.25$ (18,181.34)$ (47,245.86)$ 15,518.17

SV or Fixed Liquidity

Voya
Plan level exit provisionsIf the plan sponsor requests a full withdrawal of plan assets with Voya, the account balances of the mutual funds held in the custodial or trust account will be paid based on plan sponsor direction. Amount held in the Voya Fixed Plus Account III will be paid in five installments over a four year and one day time period.
Partiticpant level exit provisionsWithdrawals from the Voya Fixed Plus Account III associated with a distributable event are allowed at any time. Participant withdrawals from the Voya Fixed Plus Account III that are not associated with a distributable event cannot be made directly from the Voya Fixed Plus Account III and cannot be made from any other investment option if a transfer from the Voya Fixed Plus Account III has taken place within 90 days. In addition, any withdrawals not associated with a distributable event are subject to the equity wash restrictions.

Participant Info

Voya
As of 12/31/2025
CombinedUTTBR
Number of participants active and contributing545429116
Number of participants active, not contributing864442
Number of terminated participants w/balances331518
Number of terminated participants w/balances less than $5,00017710
Number of participants suspended due to hardshipN/AN/AN/A
Total active and contributing account balances$ 21,411,969.00$ 14,055,620.00$ 7,356,349.00
Total terminated participant account balances$ 2,195,883.16$ 1,833,758.07$ 362,125.09
Total loansN/AN/AN/A
Total loan account balanceN/AN/AN/A
Average account balance$ 79,105.00$ 98,519.00$ 56,630.00
Managed account balance$ 680,559.00$ 399,958.00280601
Managed account participants1064
Brokerage Account BalanceN/AN/AN/A
Brokerage Account ParticipantsN/AN/AN/A

Transition Activity

Voya
CombinedUTTBR
202520242023202520242023202520242023
Number of new participants35333330191951414
Number of new loansN/AN/AN/AN/AN/AN/AN/AN/AN/A
Number of outstanding loansN/AN/AN/AN/AN/AN/AN/AN/AN/A
Number of hardship/emergency withdrawalsN/AN/AN/AN/AN/AN/AN/AN/AN/A
Number of lump sum distributions2323201611127129
Number of recordkeeper IRAs opened
Number of minimum required distributions915107159201
Number of DROs
Number of rollovers into the plan12311121160

Cash-in

Voya
CombinedUTTBR
202520242023202520242023202520242023
Employee Pre-tax (excluding catch-up contributions)$ 1,872,070.21$ 1,759,614.59$ 1,811,275.94$ 1,349,348.31$ 1,153,292.11$ 1,188,066.22$ 522,721.90$ 606,322.48$ 623,209.72
Age 50 catch-up$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0
Age 60 - 63 catch-up$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0
3-year catch-upN/AN/AN/AN/AN/AN/AN/AN/AN/A
Roth$ 56,884.79$ - 0$ - 0$ 11,424.79$ - 0$ - 0$ 45,460.00$ - 0$ - 0
After-TaxN/AN/AN/AN/AN/AN/AN/AN/AN/A
Employer MatchN/AN/AN/AN/AN/AN/AN/AN/AN/A
Rollover Contributions$ 727,327.43$ 631,536.56$ 850.85$ 726,741.87$ 222,559.37$ 850.85$ 585.56$ 408,977.19$ - 0
Loan repaymentsN/AN/AN/AN/AN/AN/AN/AN/AN/A
**Age 50 and 60-63 catch up contributions are not recordkept seperatley**

Cash-out

Voya
CombinedUTTBR
202520242023202520242023202520242023
Lump sum distributions – cash$ 10,590.00$ 19,925.26$ 76,835.00$ 10,590.00$ 8,697.26$ 36,861.00$ - 0$ 11,228.00$ 39,974.00
Lump sum distributions – rollover$ 1,204,923.00$ 2,049,148.00$ 1,131,717.00$ 853,883.00$ 1,630,794.00$ 822,296.00$ 351,040.00$ 418,354.00$ 309,421.00
De Minimum payments (less than $5,000)
Installment payments$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0$ - 0
Unforeseeable/Hardship withdrawalsN/AN/AN/AN/AN/AN/AN/AN/AN/A
In service withdrawals (excluding hardship withdrawals)$ 719,112.00$ 982,417.00$ 228,396.00
Loan withdrawalsN/AN/AN/AN/AN/AN/AN/AN/AN/A
Fees (ie: loans, self-directed brokerage, recordkeeping, State 3 bps admin fee)$ 30,175.18$ 26,343.05$ 21,534.87$ 19,787.27$ 17,288.22$ 14,119.98$ 10,387.91$ 9,054.83$ 7,414.89

Voya UT Fund Lineup

VOYA
UT as of 12/31/2025
Asset ClassInvestment OptionTickerTotalMappableNon Mappable
Asset AllocationAsset Allocation
Asset AllocationVanguard® Target Retirement 2020 FundVTWNX$210.65$210.65
Asset AllocationVanguard® Target Retirement 2025 FundVTTVX$554,708.29$554,708.29
Asset AllocationVanguard® Target Retirement 2030 FundVTHRX$1,779,369.89$1,779,369.89
Asset AllocationVanguard® Target Retirement 2035 FundVTTHX$840,085.15$840,085.15
Asset AllocationVanguard® Target Retirement 2040 FundVFORX$423,549.26$423,549.26
Asset AllocationVanguard® Target Retirement 2045 FundVTIVX$264,297.93$264,297.93
Asset AllocationVanguard® Target Retirement 2050 FundVFIFX$358,192.85$358,192.85
Asset AllocationVanguard® Target Retirement 2055 FundVFFVX$251,729.90$251,729.90
Asset AllocationVanguard® Target Retirement 2060 FundVTTSX$20,682.22$20,682.22
Asset AllocationVanguard® Target Retirement 2070 FundVSVNX$124,955.20$124,955.20
Asset AllocationVanguard® Target Retirement Income FundVTINX$58,824.00$58,824.00
Total$4,676,605.34$4,676,605.34
Stability of PrincipalStability of Principal
Stability of PrincipalVoya Fixed Plus Account IIIn/a$1,021,272.38$1,021,272.38
BondsBonds
BondsPIMCO Total Return Fund - Institutional ClassPTTRX$627,881.82$627,881.82
BondsVanguard® Inflation-Protected Securities Fund-Admiral� ShVAIPX$179,332.34$179,332.34
BondsVanguard® Short-Term Bond Index Fund - Admiral� SharesVBIRX$265,048.16$265,048.16
BondsVanguard® Total Bond Market Index Fund - Institutional PlusVBMPX$530,270.48$530,270.48
Total$1,602,532.80$1,602,532.80
BalancedBalanced
BalancedVanguard® Wellington� Fund - Admiral� SharesVWENX$369,420.76$369,420.76
Large Cap Value/BlendLarge Cap Value/Blend
Large Cap Value/BlendNuveen Large Cap Responsible Equity Fund - Class R6TISCX$55,412.83$55,412.83
Large Cap Value/BlendVanguard® Equity Income Fund - Admiral� SharesVEIRX$617,320.82$617,320.82
Large Cap Value/BlendVanguard® FTSE Social Index Fund - Admiral� SharesVFTAX$128,790.23$128,790.23
Large Cap Value/BlendVanguard® Institutional Index Fund - Institutional PlusVIIIX$5,028,255.90$5,028,255.90
Large Cap Value/BlendVanguard® Windsor� II Fund - Admiral� SharesVWNAX$690,473.42$690,473.42
Total$6,520,253.20$6,520,253.20
Large Cap GrowthLarge Cap Growth
Large Cap GrowthAmerican Funds The Growth Fund of America® - Class R-6RGAGX$2,293,319.46$2,293,319.46
Small/Mid/SpecialtySmall/Mid/Specialty
Small/Mid/SpecialtyVanguard® Explorer� Fund - Admiral� SharesVEXRX$86,949.62$86,949.62
Small/Mid/SpecialtyVanguard® Mid-Cap Growth Fund - Investor SharesVMGRX$229,834.86$229,834.86
Small/Mid/SpecialtyVanguard® Mid-Cap Index Fund - Institutional SharesVMCIX$769,265.46$769,265.46
Small/Mid/SpecialtyVanguard® Real Estate Index Fund - Admiral� SharesVGSLX$155,984.82$155,984.82
Small/Mid/SpecialtyVanguard® Small-Cap Index Fund - Admiral� SharesVSMAX$329,319.04$329,319.04
Small/Mid/SpecialtyVanguard® Small-Cap Value Index Fund - Admiral� SharesVSIAX$419,390.56$419,390.56
Total$1,990,744.36$1,990,744.36
Global / InternationalGlobal / International
Global / InternationalAmerican Funds EUPAC Fund® - Class R-6RERGX$787,391.12$787,391.12
Global / InternationalDFA Emerging Markets Social Core Equity Portfolio - Inst ClDFESX$187,354.49$187,354.49
Global / InternationalMFS® International Equity Fund - Class R6MIEIX$452,135.22$452,135.22
Total$1,426,880.83$1,426,880.83

Voya TBR Fund Lineup

Voya
TBR as of 12/31/2025
Asset ClassInvestment OptionTickerTotalMappableNon Mappable
Asset AllocationAsset Allocation
Asset AllocationVanguard® Target Retirement 2020 FundVTWNX$821,003.47$821,003.47
Asset AllocationVanguard® Target Retirement 2025 FundVTTVX$803,950.17$803,950.17
Asset AllocationVanguard® Target Retirement 2030 FundVTHRX$1,836,033.15$1,836,033.15
Asset AllocationVanguard® Target Retirement 2035 FundVTTHX$994,832.48$994,832.48
Asset AllocationVanguard® Target Retirement 2040 FundVFORX$313,984.63$313,984.63
Asset AllocationVanguard® Target Retirement 2045 FundVTIVX$47,176.11$47,176.11
Asset AllocationVanguard® Target Retirement 2050 FundVFIFX$74,763.13$74,763.13
Asset AllocationVanguard® Target Retirement 2055 FundVFFVX$21,448.49$21,448.49
Asset AllocationVanguard® Target Retirement 2060 FundVTTSX$24,693.71$24,693.71
Asset AllocationVanguard® Target Retirement 2070 FundVSVNX$0.00$0.00
Asset AllocationVanguard® Target Retirement Income FundVTINX$557,014.08$557,014.08
Total$5,494,899.42$5,494,899.42
Stability of PrincipalStability of Principal
Stability of PrincipalVoya Fixed Plus Account IIIn/a$135,427.10$135,427.10
BondsBonds
BondsPIMCO Total Return Fund - Institutional ClassPTTRX$141,019.59$141,019.59
BondsVanguard® Inflation-Protected Securities Fund-Admiral� ShVAIPX$128,879.28$128,879.28
BondsVanguard® Short-Term Bond Index Fund - Admiral� SharesVBIRX$464,613.56$464,613.56
Total$734,512.43$734,512.43
BalancedBalanced
BalancedVanguard® Wellesley® Income Fund - Admiral� SharesVWIAX$53,040.73$53,040.73
Large Cap Value/BlendLarge Cap Value/Blend
Large Cap Value/BlendVanguard® Equity Income Fund - Admiral� SharesVEIRX$535,373.01$535,373.01
Large Cap Value/BlendVanguard® FTSE Social Index Fund - Admiral� SharesVFTAX$65,763.01$65,763.01
Large Cap Value/BlendVanguard® Institutional Index Fund - Institutional PlusVIIIX$1,012,481.14$1,012,481.14
Large Cap Value/BlendVanguard® Windsor� II Fund - Admiral� SharesVWNAX$70,627.48$70,627.48
Total$1,684,244.64$1,684,244.64
Large Cap GrowthLarge Cap Growth
Large Cap GrowthAmerican Funds The Growth Fund of America® - Class R-6RGAGX$723,123.74$723,123.74
Small/Mid/SpecialtySmall/Mid/Specialty
Small/Mid/SpecialtyVanguard® Explorer� Fund - Admiral� SharesVEXRX$27,536.66$27,536.66
Small/Mid/SpecialtyVanguard® Mid-Cap Growth Fund - Investor SharesVMGRX$42,092.44$42,092.44
Small/Mid/SpecialtyVanguard® Mid-Cap Index Fund - Institutional SharesVMCIX$329,646.36$329,646.36
Small/Mid/SpecialtyVanguard® Real Estate Index Fund - Admiral� SharesVGSLX$70,658.10$70,658.10
Small/Mid/SpecialtyVanguard® Small-Cap Index Fund - Admiral� SharesVSMAX$206,364.60$206,364.60
Small/Mid/SpecialtyVanguard® Small-Cap Value Index Fund - Admiral� SharesVSIAX$42,332.09$42,332.09
Total$718,630.25$718,630.25
Global / InternationalGlobal / International
Global / InternationalAmerican Funds EUPAC Fund® - Class R-6RERGX$301,195.25$301,195.25
Global / InternationalMFS® International Equity Fund - Class R6MIEIX$121,837.26$121,837.26
Total$423,032.51$423,032.51

Additional

Voya
Confirm any total plan contract exit fees and provisionsNo Deferred Sales Charges. No fee for distributions. $1,500 fee for termination.

File details come from the government source that posted it. Updated .