NEWARK, N.J., October 04, 2018 - Prudential Retirement, among the industry’s largest record keepers, has been selected to oversee the 401(k) retirement plan for Norwegian Cruise Line Holdings Ltd. Prudential Retirement is a business unit of Prudential Financial, Inc. (NYSE:PRU).
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181004005018/en/
Prudential will oversee $150 million in retirement assets covering approximately 2,100 participants. Tyler Finlinson of Soltis Investment Advisors is the advisor of the plan, which transitioned on September 4, 2018.
“Employers of all sizes, including Fortune 500 companies like Norwegian Cruise Line, are using retirement plans and other employee benefits offerings as a strategic differentiator to help them attract and retain talent,” said Scott Gaul, senior vice president and head of sales and strategic relationships for Prudential Retirement. “At the same time, companies want to make sure they are effectively allocating their benefits resources, and they expect retirement service providers to design strategies that enable them to optimize their retirement plan.”
Optimizing retirement plans can range from redesigning the employer match to incorporating financial wellness solutions that enable plan participants to tackle other financial challenges that impact their ability to save—challenges such as student debt or lack of emergency savings.
A household name, Norwegian Cruise Line Holdings Ltd. is a leading global cruise company which operates the Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises brands and has a combined fleet of 26 ships offering itineraries to more than 450 destinations worldwide.
“We’re pleased to partner with Prudential to help our employees maximize their retirement plan,” said Lynn White, senior vice president, corporate human resources at Norwegian Cruise Line Holdings Ltd. “A key factor that influenced our decision to partner with Prudential was the systems and tools they have in place to ensure the plan runs smoothly from an administrative standpoint and that our employees are engaged and take action.”
About Prudential Retirement
Prudential Retirement delivers retirement plan solutions for public, private, and nonprofit organizations. Services include defined contribution, defined benefit and nonqualified 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 4.3 million participants and annuitants. Prudential Retirement has $432.6 billion in retirement account values as of June 30, 2018. Retirement products and services are provided by Prudential Retirement Insurance and Annuity Company (PRIAC), Hartford, Connecticut, or its affiliates.
About Prudential Financial, Inc.
Prudential Financial, Inc. (NYSE:PRU), a financial services leader with more than $1 trillion of assets under management as of June 30, 2018, 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 news.prudential.com.