Voya 401(k) Savings Plan

Voya 401(k) Savings Plan

Effective September 15, 2017



Table of Contents

Summary Plan Description ................................................................................................................. 4 Features At-A-Glance .......................................................................................................................... 5 Participation ........................................................................................................................................ 7

Eligibility .............................................................................................................................................................. 7 Enrollment .......................................................................................................................................................... 7 Eligible Compensation ........................................................................................................................................ 8

Your Contributions ........................................................................................................................... 10

Pre-tax Contributions ........................................................................................................................................ 10 Roth Contributions ............................................................................................................................................ 10 Matching Contributions...................................................................................................................................... 10 Tax Consequences and IRS Limitations ........................................................................................................... 11 Tax Consequences of Withdrawals .................................................................................................................. 12 Changing or Stopping Your Contributions ........................................................................................................ 12 Catch-up Contributions...................................................................................................................................... 13 Rollovers from Another Qualified Plan or IRA ................................................................................................... 13 How to Receive Matching Contributions .......................................................................................................... 14 Vesting .............................................................................................................................................................. 15 Source of Leveraged ING Groep Stock ............................................................................................................ 17 Profit Sharing Contributions ............................................................................................................................. 17

Investing Your Account ..................................................................................................................... 18

Investment Options ........................................................................................................................................... 18 Valuing the Voya Company Stock Fund, the ING Group Company Stock Fund

and the ING Leveraged Company Stock Fund .............................................................................................. 19 Voting and Tender Rights for the Voya Company Stock Fund, the ING Group Company Stock Fund and the

ING Leveraged Company Stock ................................................................................................................... 20 Your Investment Decision ................................................................................................................................ 21 Limitations on Investment in the Voya Company Stock Fund........................................................................... 21 Changing Investment Allocations ..................................................................................................................... 22 Tracking Investment Performance .................................................................................................................... 22

Black Out Periods .............................................................................................................................. 23 TD Ameritrade Self-Directed Brokerage Account ? Special Considerations ................................. 24

Restrictions and Policies ................................................................................................................................... 24 Transfers to the Core Investment Options ........................................................................................................ 25 Reports on Your SDBA ..................................................................................................................................... 26 Protection for Your SDBA.................................................................................................................................. 26 Equity Wash Provision ? Voya Stable Value Option ........................................................................................ 27

Limits on Trading Activity ................................................................................................................. 28

VOYA 401(k) SAVINGS PLAN 2

Table of Contents

Withdrawals While You Are Working ............................................................................................... 29

Hardship Withdrawals ...................................................................................................................................... 29 Withdrawals after 59?....................................................................................................................................... 29 Withdrawals from Rollover Accounts and Roth Rollover Accounts .................................................................. 30 Withdrawals for Participants in a Prior Plan ..................................................................................................... 30 Type of Money Used for Withdrawals .............................................................................................................. 31 Applying for a Withdrawal ................................................................................................................................. 31 Taxes on Withdrawals ...................................................................................................................................... 31

Loans While You Are Working ......................................................................................................... 32

Eligibility ............................................................................................................................................................ 32 Loan Limits ....................................................................................................................................................... 32 Interest on Your Loan ....................................................................................................................................... 33 Repayment Schedule ....................................................................................................................................... 33 Type of Money Used for a Loan ....................................................................................................................... 33 Applying for a Loan ........................................................................................................................................... 33 Defaulting on a Loan ........................................................................................................................................ 34

Receiving A Final Distribution .......................................................................................................... 35

Eligibility ............................................................................................................................................................ 35 Payment Timing ................................................................................................................................................ 35

Payment Options .............................................................................................................................. 36

Lump-sum Payment ......................................................................................................................................... 36 Installment Payments for a Certain Period........................................................................................................ 36 If You Die .......................................................................................................................................................... 36 Naming a Beneficiary ....................................................................................................................................... 37 Applying for Payment ........................................................................................................................................ 38

Loss of Benefits ................................................................................................................................ 39

Plan Details ....................................................................................................................................... 40

Your Rights Under ERISA ................................................................................................................ 42

Claims Filing and Appeals ............................................................................................................... 44

Other Information About Plan Administration ................................................................................ 47

Tax Rules ......................................................................................................................................................... 47 Highly Compensated Employees ...................................................................................................................... 50 Limits on Benefits .............................................................................................................................................. 50 Top-heavy Plans................................................................................................................................................ 50 Assignment of Benefits and Qualified Domestic Relations Orders (QDROs) ................................................... 50 PBGC ................................................................................................................................................................ 51 Plan Continuance .............................................................................................................................................. 51 The Uniformed Services Employment and Reemployment Rights Act of 1994 (USERRA) ............................. 51

Where to Get Help.............................................................................................................................. 52 Prospectus Supplement....................................................................................................53

VOYA 401(k) SAVINGS PLAN 3

Summary Plan Description

The Voya 401(k) Savings Plan (the "Plan") (formerly the ING U.S. Savings Plan and ESOP) allows you to save from 1% to 50% of your earnings (subject to limits imposed by the Internal Revenue Code ("Code"). Under the Plan, the Company will match 100% of the first 6% of your eligible contributions. The allocation will be made in cash and invested in the same investment options that you select for future contributions. Your money grows on a tax-deferred basis if you contribute on a pre-tax basis. If you make after-tax Roth 401(k) contributions, your contributions are taxed going in but when you withdraw your money, the earnings on those contributions can be potentially tax free. Note: The Plan is a defined contribution profit sharing plan. This means the Pension Benefit Guaranty Corporation ("PBGC") does not insure the Plan benefits. Your contributions are fully funded to the Trust as soon as administratively possible after they are withheld from your eligible compensation.

Voya 401(k) Savings Plan Summary Plan Description (effective September 15, 2017).

This document constitutes part of a prospectus covering employer securities that have been registered under the Securities Act of 1933. Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if the prospectus is truthful or complete. Any representation to the contrary is a criminal offense.

VOYA 401(k) SAVINGS PLAN 4

Features At-A-Glance

Automatic enrollment for new hires

Company match -- made in cash Immediate eligibility for match Contribution limits

Vesting Plan recordkeeper

New employees will be automatically enrolled in the Plan unless an election not to participate is made within the 60 day period following the date their eligibility to participate is reported to the Plan's recordkeeper. Automatically enrolled participants will initially have 3% of their eligible pay contributed to the Plan on a pre-tax basis. As of March 1st following the period in which the participant completes twelve (12) months of participation, the contribution will automatically increase to 4%, and will automatically increase by 1% on every March 1st thereafter until the percentage reaches 6%. No further automatic increases will take place after the contribution percentage reaches 6%.

An automatically enrolled participant may elect within 90 days after the first pay date on which an automatic contribution has been withheld to cease participation in the Plan and receive a distribution of all amounts deferred. A withdrawal election shall be effective on the last day of the payroll period that begins after the date the election is made.

An automatically enrolled participant may change his or her contribution amount or cease deferrals to the Plan at any time.

A Company match of 100% up to the first 6% of your eligible compensation from each paycheck is allocated pursuant to your investment elections for future contributions. The match is made on a pre-tax basis regardless of whether the contribution is on a pretax or Roth basis.

You will receive matching contributions as soon as you begin to make contributions to the Plan.

You may contribute up to the lesser of ? 50% of your eligible compensation up to the Code limit on compensation ($275,000 in 2018) on a pretax or Roth basis; or ? Up to the Code limit on elective deferrals ($18,500 in 2018).

You may make Catch-up Contributions to the Plan if you will be age 50 or over by the end of the calendar year, subject to the Code limit ($6,000 for 2018).

All the money you contribute, as well as any investment earnings on these amounts, is immediately vested.

You will generally vest in the company match at a rate of 25% per year of service and will be 100% vested after four years of service.

Voya Retirement Insurance and Annuity Company is the Plan's recordkeeper.

VOYA 401(k) SAVINGS PLAN 5

Features At-A-Glance

Investment options

Withdrawals Loans Tax-deferred status

Portability Tracking performance Self-Directed Brokerage Account with TD Ameritrade

You have a number of investment options in which to invest your Plan Accounts, including a series of target date lifecycle funds. If amounts are automatically contributed to the Plan for you under the auto-enrollment feature, they will be invested in the target date lifecycle fund, based on the year in which you turn age 65, unless you make an investment election.

Certain withdrawals may be rolled over to other qualified plans or IRAs as allowed, subject to applicable federal tax rules. In-service and hardship withdrawals are permitted, subject to certain Plan limits.

Loans are permitted, subject to certain Plan and IRS limits.

All your pre-tax contributions, the Company's match and any earnings on those contributions are tax deferred until you receive the funds.

All your contributions made to the Roth 401(k) are taxed at the time contributed, but the earnings on those contributions are tax free, provided they are withdrawn according to certain Plan and IRS rules.

You can receive all vested funds when you retire or leave the Company.

Quarterly updates are sent to your home or you may go online to the myHR portal or access to monitor your Plan Accounts and investment performance.

You may invest a portion of your Plan assets in a TD Ameritrade self- directed brokerage account that provides access to a wider array of investment choices, including publicly traded stock, ETFs, fixed income securities and a broad range of mutual funds.

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Participation

Eligibility

Generally, all employees of participating companies are eligible to participate in the Plan immediately upon being hired. Those ineligible for participation generally include temporary employees, independent contractors (even if later determined to be a Company employee), employees covered by a collective bargaining agreement, leased employees, nonresident aliens with no U.S. source income (except certain designated nonresident aliens paid through the U.S. payroll of a participating company), statutory employees and individuals who are not classified as employees of participating companies on the payroll of such companies (even if they are later reclassified as employees).

Enrollment

Automatic Enrollment

Newly hired eligible employees will be automatically enrolled in the Plan. If you make no deferral election during the first 60 days of the date your employment record was first sent to the Plan's recordkeeper, you will be automatically enrolled in the Plan at a pre-tax contribution rate of 3%. During the 60 day period, you may either voluntarily enroll in the Plan (as more fully described below) or you may elect not to participate. For participants who have been in the Plan for at least 12 months and remain in the automatic enrollment program, the 3% pre-tax contribution rate will be increased by 1% annually in each March until it reaches 6%. You will receive information about enrollment when your employment record is sent to the Plan's recordkeeper.

Making Changes

To cease contributing to the Plan or to change the amount you are contributing, call the Benefits Service Center at (800) 555-1899 and follow the interactive menu to the Plan, visit the myHR portal, or access the Plan site directly at enrollmentcenter. You will need to verify some personal information when you call or log on. Then, you will need to: Indicate the whole percentage of eligible compensation (from 0% to 50%) that you want to

save. An election of 0% ceases your contribution to the Plan. Please see Your Contributions on page 12 for details. Indicate how you want to invest your savings. See Investing Your Account on page 18 for details.

Complete an online beneficiary designation indicating whom you want to receive your Plan Accounts if you should die before receiving a distribution of your entire benefit interest from this Plan. You can name anyone, but if you are married and want to name a beneficiary other than your spouse, federal law requires your spouse's written, notarized consent; otherwise, your spouse will remain the sole beneficiary. It is important to keep your beneficiary designation up to date. You can make a change at any time. Simply complete your beneficiary designation online at . If you are designating someone other than your spouse, you will need to complete a Beneficiary Designation Form. You can obtain one by calling the Benefits Service Center

VOYA 401(k) SAVINGS PLAN 7

Participation

at (800) 555-1899 and following the interactive menu to the Plan, or visiting the myHR portal, or accessing the Plan directly at . Under this Plan, you save on a regular basis through the convenience of automatic payroll deductions. Deductions begin as soon as administratively possible after enrollment is complete. If you decide to stop contributing to the Plan, your Accounts remain in the Plan until you are eligible for, and request, a distribution. See Receiving a Final Distribution on page 35 for more information. Certain individuals due to their position within the Company are subject to restrictions on trades within the Plan, as described in the Voya Financial Personal Trading Policy. In addition, all Plan participants are required to abide by any trading restrictions imposed by any investment offered as an investment option under the Plan. To facilitate compliance, the Plan provides reports to the Company's compliance department for any employee subject to trading restrictions. Information on trading restrictions in the fund options may be found in the prospectus (plus any statements of additional information) that may be accessed through the Plan's website or by calling the Benefits Service Center at (800) 555-1899. You may also contact the applicable mutual fund directly and request a copy of the prospectus and statement of additional information. Information on Voya's imposed restrictions may be obtained by contacting your compliance officer.

Eligible Compensation

For purposes of contributions to the Plan, eligible compensation is generally defined as base pay (including overtime, commissions and sales bonuses), short-term incentive awards, spot bonuses paid in recognition of exemplary service, shift differential, education- or training-related bonuses (such as LOMA or actuarial bonuses), and paid time off (PTO) payments included in the paycheck for your last period of active employment. Eligible compensation is the gross amount before any reduction of your compensation based on elections you make under a cafeteria plan, transportation fringe benefit program, any other qualified retirement plan, or this Plan. Differential wage payments will be treated as eligible compensation. A differential wage payment is generally a payment made by the Company or a participating company to you for the difference between the amount you receive as military pay while on active duty for a period of more than 30 days and what you were making on your job with the Company or a participating company. To be considered eligible pay, the differential wage payment must be paid through a participating employer's U.S. payroll system.

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