Prudential Launches DC Product for Small Companies

February 1, 2005 (PLANSPONSOR.com) - Prudential Retirement has announced the launch of PruSolutions, a defined contribution (DC) product for qualified retirement plans with between $1 million and $20 million in assets.

The new system attempts to provide smaller clients with the services traditionally offered to larger ones, according to a press release from the company. Included in the program are:

  • options that include a range of compliance testing services, support for merger & acquisition activity and a fiduciary protection program.
  • programs that feature targeted messaging with personalized data to engage participants and encourage them to take positive steps toward building a secure retirement.
  • GoalMaker, Prudential’s proprietary asset allocation tool for participants.
  • a selection of investment options covering the spectrum of asset classes and investment styles.   Sponsors can select Prudential’s “Manager-of-Managers” sub-advised institutional fund lineup or choose from the registered Retail Mutual Fund offering, which consists of 550 mutual funds from 30 fund families.

Financial advisors can also gain from the program, according to the release through access to:

  • a dedicated Prudential Retirement contact and a suite of sales and marketing tools.
  • tools and resources that include customized transition timelines, weekly updates for sponsors and advisors and a quality control process.
  • results-based client service from licensed client consultants.
  • a level, transparent commission structure for both the “Manager-of-Managers” institutional fund platform and the Retail Mutual Fund offering.

Prudential Retirement has $124 billion in retirement account values, and is a Prudential Financial ( www.prudential.com ) company.

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