Products April 18, 2006

Prudential Offers DC Services to Small Plan Market

April 18, 2006 (PLANSPONSOR.com) - Prudential Retirement has introduced PruSolutions Plus, a new defined contribution product that provides small qualified retirement plans with the products and services often reserved for larger clients.
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According to a Prudential news release, the product is targeted for, but not limited to, plan sponsors with up to $3 million in assets, is delivered exclusively through a partnership between Prudential Retirement, financial advisors and local Third Party Administrators (TPAs).

The company said that PruSolutions Plus leverages the guidance of financial advisors and the skills of local TPAs, to customize, implement and manage the product in accordance with each client’s needs.

According to the announcement, PruSolutions Plus offers:

  • large-market programs and services through Web sites, plan management tools, and a fiduciary risk management program that includes a process for evaluating and monitoring investment options.   Plan administration is provided by local TPAs.
  • a menu of retirement-planning education and communications resources, featuring asset-allocation support in the form of Prudential’s Retirement Goal funds and GoalMaker asset-allocation tool.     
  • a combinaton of Prudential’s staff, advisor-focused support model and commission structures to help advisors grow their practices by meeting the needs of small plan sponsors.   
  • exclusive access to plans with up to $3 million in assets, channel management support, and implementation and service resources, all designed to help TPAs expand their business opportunities in small and large markets.

For additional information about PruSolutions Plus, contact Steven Hart at 312-521-6127.

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