New research from Voya sheds light on the opportunities public sector employees have to improve their retirement confidence

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Nearly 80 percent of government employees expressed interest in receiving guidance to help them feel more confident about their investment decisions. NEW YORK, June 26, 2026--(BUSINESS WIRE)--Voya Financial, Inc. (NYSE: VOYA) today released new research1 examining the factors shaping retirement confidence among public employees, finding that while government workers report higher levels of retirement preparedness than their private-sector peers, opportunities remain to improve outcomes through greater engagement, education and access to guidance. The research, Beyond the Pension: What Really Drives Retirement Confidence for Public Employees, found that 89% of government employees report being prepared for retirement, compared with 81% of non-government employees. Voya is the number one provider of 457(b) deferred compensation plans for government entities serving approximately 4 million plan participants with an average government client tenure of 31 years as of December 31, 20252. In addition to its strong governmental client retention, Voya has experienced meaningful organic growth, having on-boarded approximately $30 billion and 1 million new participants across multiple government plans from January 2025 through first quarter 2026.3 "The good news is that public sector employees often have a strong retirement foundation through their pension benefits," said Gavin Gruenberg, Government Market Retirement Sales Leader, Voya Financial. "But our research shows that retirement confidence is influenced by more than a pension alone. Employees want help connecting the dots between their pension, personal savings, day-to-day financial priorities and long-term retirement goals." Financial guidance drives confidence Among the most significant findings, government employees working with a financial advisor were approximately 1.6 times more likely to report increased confidence in meeting their retirement goals over the past two years than those who didn't. At the same time, nearly 80% of government employees expressed interest in receiving guidance to help them feel more confident about their investment decisions. Pension literacy remains a critical opportunity The research also identified pension literacy as a meaningful driver of retirement confidence. Government employees who knew their pension plan tier were substantially more likely to report increased confid...

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