Prudential Retirement starts year strong with three new plan sponsor clients

Posted: February 1, 2012 at 11:44 am

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NEWARK, N.J.--(BUSINESS WIRE)-- Prudential Retirement, a business unit of Prudential Financial, Inc. (NYSE: PRU - News), today announced three new plan sponsor clients.

“Securing these new clients demonstrates Prudential Retirement is offering solutions that deliver results and optimal outcomes for participants,” said George Castineiras, senior vice president, Total Retirement Solutions, Prudential Retirement. “We are pleased to announce these three clients as the newest members of the Prudential family and we look forward to delivering a personalized approach to each of these plans sponsors.”

U.S. Epperson Underwriting Company, a commercial property and casualty insurance management company, has signed on for a full service retirement solution. Prudential Retirement will record keep the Boca Raton, Fla. headquartered company’s defined contribution (DC), defined benefit (DB) and deferred compensation plans. Prudential will service $67 million in total combined plan assets and will deliver retirement planning services to more than 329 DC participants and 787 DB participants.

The deal became official on Dec. 1, 2011. “We are excited to form a partnership with Prudential as our new full service retirement plan provider,” said Mary Moore, associate vice president, Human Resources, U.S. Epperson. “We selected Prudential based on the firm’s passion, expertise, and commitment to helping our employees not only get to retirement – but through retirement.”

“While Prudential’s brand got them in the door, it was the service team’s ability to translate U.S. Epperson’s unique needs into a solution exceeding the client’s expectations that, ultimately, won them a new relationship,” said Jeffrey Medici, vice president and financial advisor at Dallas, Texas-based CAPTRUST Financial Advisors and advisor to the U.S. Epperson deal. “That, combined with a world-class service team with the expertise necessary to manage a complex TRO solution, allowed them to rise to the top of the class.”

Prudential has also assumed recordkeeping responsibility for Garden City, New York-based The Auto Club of New York. "We selected Prudential Retirement as our 401(k) provider based on their expertise with employee plans, their commitment to quality client service and their reputation as an industry leader," said Robert Walters, Chief Financial Officer, AAA New York. "We were very pleased with Prudential’s guidance throughout the transition from our former provider and together, we are improving the assistance our employees receive for their retirement planning." William Peragine, advisor in the Retirement Group at Morgan Stanley Smith Barney was the advisor with the deal. The defined contribution plan has more than 580 participants and $18 million in plan assets.

New Orleans, Louisiana-based Energy Partners has also signed on. The 401(k) plan has more than 250 plan participants and roughly $10.4 million in plan assets.

Prudential Retirement delivers retirement plan solutions for public, private, and non-profit organizations. Services include state-of-the-art record keeping, administrative services, investment management, comprehensive employee investment education and communications, and trustee services. With over 85 years of retirement experience, Prudential Retirement helps meet the needs of over 3.6 million participants and annuitants. Prudential Retirement has $214.7 billion in retirement account values as of September 30, 2011.

Prudential Financial, Inc. (NYSE: PRU - News), a financial services leader with approximately $871 billion of assets under management as of September 30, 2011, 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


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Prudential Retirement starts year strong with three new plan sponsor clients

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February 1st, 2012 at 11:44 am

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