NEWARK, N.J., Dec. 20, 2016 - Three private companies with more than 10,000 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).
This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20161220005134/en/
“Plan sponsors want to maximize their employee benefits and associated costs, and when it comes to retirement benefits, they want to ensure the outcomes they want for their employees, while getting an ROI on their investment.” said Harry Dalessio, senior vice president, Sales & Strategic Relationships, Prudential Retirement. “These latest client wins highlight our ability to help companies of all sizes and across all industries meet those needs.”
The three plan sponsors include:
- Caliber Collision, the largest collision repair company in America, is based in Lewisville, Texas, with $70 million in assets. Michael Coelho, a Managing Director at SageView Advisory Group, advises the plan.
“Prudential proved to be a business partner to help us manage risk and reduce the costs of running a retirement plan ourselves, including moving to paperless automation for plan administration and helping our plan grow,” said Eddie Hightower, vice president of Human Resources at Caliber. “Providing great benefits to our teammates is a key part of our mission to be the employer of choice in every community we serve, and Prudential is a key partner.”
- Legal Services NYC of New York City, the largest civil legal services provider in the U.S., is focused on fighting poverty and seeking racial, social and economic justice for low-income New Yorkers. The firm has 725 participants in its 403(b) plan with $37 million in assets. Arthur J. Gallagher & Co. advises the plan.
“Prudential Financial’s own commitment to local communities is very important to us, given we’re a mission-driven organization,” said Kirsten Soberanis, director of Human Resources and Diversity at Legal Services NYC. “In addition, Prudential Retirement’s recordkeeping expertise, its robust online tools and ability to provide a best-in-class low-cost fund lineup—played a role in our decision to partner with Prudential.”
- Wilkinson Barker Knauer, LLP, based in Washington, D.C., a communications, energy and technology law firm, specializes in state and federal legal, regulatory and policy issues. The firm has 160 participants in its defined contribution plan. Abigail Russell of CAPTRUST Financial Advisors advises the plan.
“We are looking forward to partnering with Prudential to empower our employees to take action to save for retirement and secure their financial futures,” said Pam Wilson, human resources manager at Wilkinson Barker Knauer, LLP.
About Prudential Retirement
Prudential Retirement delivers retirement plan solutions for public, private, and nonprofit organizations. Services include defined contribution, defined benefit and non-qualified deferred compensation recordkeeping, 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 4.2 million participants and annuitants. Prudential Retirement has $386.7 billion in retirement account values as of September 30, 2016.
About Prudential Financial, Inc.
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/.