Voya Financial, Inc. (NYSE: VOYA) welcomes the U.S. Department of Labor's proposed rule, Fiduciary Duties in Selecting Designated Investment Alternatives, as an important step toward the thoughtful expansion of retirement investment choice.

The proposal emphasizes the importance of a robust evaluation process for investments, without endorsing or excluding any specific asset class. The focus on providing a stable framework is consistent with longstanding ERISA principles that have served plan sponsors, fiduciaries and participants well as they assess appropriate options for their plans.