CCC Group, AccentCare, and LJT & Associates choose Prudential to oversee $66 million in combined assets
NEWARK, N.J., March 07, 2016 - Three companies with more than 18,000 retirement plan participants have chosen Prudential Retirement to administer their defined contribution plans, the company announced today. Prudential Retirement, among the industry’s largest recordkeepers, is a business unit of Prudential Financial, Inc. (NYSE:PRU).
The three plan sponsors, which comprise CCC Group, AccentCare, Inc.; and LJT & Associates, Inc., have combined plan assets of $66 million.
“We’re pleased these diverse companies have entrusted us as partners to help them secure their participants’ future in retirement,” said Harry Dalessio, senior vice president, Sales & Strategic Relationships, Prudential Retirement. “Helping to find solutions for these new clients demonstrates our ability to provide tailored, full-service retirement solutions that meet the special needs and challenges of today’s companies.”
CCC Group, a leading heavy industrial construction company in San Antonio, Texas, has 1,000 active and deferred participants in its defined contribution plan with $29 million in assets. Prudential’s newest recordkeeping client, which transitioned in early January, provides multi-disciplined construction and specialty engineering services to a wide variety of markets in the U.S. and in select international locations. John B. Abeyta of the Abeyta Bueche & Sanders Group at Morgan Stanley advises the plan.
“We are excited to begin this new partnership with Prudential,” said Nita McBride, treasurer and CFO at CCC Group. “And we’re confident that with their help, we’ll be able to provide better retirement solutions to our employees that will help them more adequately plan for their financial future.”
AccentCare has 17,000 participants in its defined contribution plan with $27 million in assets and transitioned to Prudential on Dec. 1, 2015. A national leader in post-acute home healthcare, AccentCare provides services ranging from personal, non-medical care to skilled nursing, rehabilitation, hospice and care management, offering comprehensive care for individuals with a wide variety of care needs, including complex chronic conditions. David Altimont, senior vice president of Lockton Retirement Services advises the plan.
“We chose Prudential not only for its expertise in retirement services, but also for its deep experience working with healthcare organizations around the country,” said Dawna Bowman, chief human resource officer at AccentCare. “Prudential understands the daily challenges our business faces and can offer cost-saving solutions tailored to our needs.”
LJT & Associates, Inc. has 200 participants with $10 million in assets. Established in 1994, the aerospace company provides systems engineering services to a variety of customers such as the National Aeronautics and Space Administration, the U.S. Air Force, the U.S. Navy, the Defense Information Systems Agency, the Internal Revenue Service, the National Oceanic and Atmospheric Association, and the National Science Foundation. Alliant Retirement Services, based in Alpharetta, Ga., advises the plan.
“There were several factors that led to our decision to select Prudential,” says Nicole Wilkinson, director, HR Management. “Their flexible recordkeeping platform and ability to handle custom plan document requirements and outsource administrative responsibilities won us over. We were also impressed with their data expertise and willingness to work directly with our payroll vendor during conversion.”
Prudential Retirement delivers retirement plan solutions for public, private, and nonprofit organizations. Services include defined contribution, defined benefit and non-qualified deferred compensation record keeping, administrative services, investment management, comprehensive employee education and communications, and trustee services, as well as a variety of products and strategies, including institutional investment and income products, pension risk transfer solutions and structured settlement services.
With more than 85 years of retirement experience, Prudential Retirement helps meet the needs of 4.0 million participants and annuitants. Prudential Retirement has $368.9 billion in retirement account values as of Dec. 31, 2015.
Retirement products and services are provided by Prudential Retirement Insurance and Annuity Company (PRIAC), Hartford, CT, or its affiliates. PRIAC is a Prudential Financial company.
Prudential Financial, Inc. (NYSE:PRU), a financial services leader, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit http://www.news.prudential.com/.