Prudential Enhances DC Plan Product

According to the announcement, the fund addition means that Prudential’s “Manager-of-Managers” sub-advised institutional fund lineup has added three institutionally sub-advised funds and eight Alliance funds, the registered Retail Mutual Fund platform now consists of 683 mutual funds from 35 fund families, and the Retail Mutual Fund platform added 5 fund families and 89 funds.

Features of the product also include:

• A range of compliance testing services, support for merger & acquisition activity and a fiduciary protection program that addresses three key areas of fiduciary risk: investment offerings, plan compliance and participant education and communication.
• Programs that feature targeted messaging with personalized data to engage participants and encourage them to take positive steps toward building a secure retirement.
• In addition, GoalMaker®, Prudential’s proprietary asset allocation tool for participants, is a standard part of the PruSolutions package.

PruSolutions, introduced in February, is targeted for qualified retirement plans with up to $20 million in assets (See  Prudential Launches DC Product for Small Companies ).