Tag Archives: Prudential Retirement

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2012 MullinTBG/PLANSPONSOR report reaffirms significance of nonqualified deferred compensation plans

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By Business Wirevia The Motley Fool

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2012 MullinTBG/PLANSPONSOR report reaffirms significance of nonqualified deferred compensation plans in helping executives meet retirement savings goals

NEWARK, N.J.–(BUSINESS WIRE)– The seventh annual MullinTBG/PLANSPONSOR Executive Benefits Survey reveals that executives now more than ever need options like nonqualified deferred compensation plans (NQDCPs) to help them achieve their savings goals. Higher tax rates and historically low interest rates present potentially greater challenges for highly compensated employees trying to save for retirement and meet other financial goals, making deferring compensation into a nonqualified plan especially attractive. For example, the survey shows a vast majority of companies (91%) are now offering nonqualified deferred compensation plans (NQDCPs). MullinTBG is a Prudential Financial, Inc. company (NYS: PRU) .

The survey, the longest-running of its kind, also highlights that more companies are offering executives financial planners to help create effective retirement planning strategies. In 2012, 52.7 percent of firms state they now offer financial planning benefits, compared to 34 percent in 2009.

“This year’s survey results have once again confirmed the enduring appeal of nonqualified plans in both helping high income earners achieve a secure retirement and meeting an important need in the marketplace,” said George Castineiras, Prudential Retirement‘s senior vice president of Total Retirement Solutions. “I believe that NQDCPs have the potential to become even more relevant for high-income earners looking to increase their savings power and lessen tax impacts in the coming years.”

A new category was added to the NQDCP Recordkeeping section in 2012, allowing survey respondents to choose “online user experience” as an important factor when selecting a nonqualified recordkeeping provider. This new category ranked second overall after perennial leader “quality of service team.”

“The trend of providing additional Web-based resources to help plan participants make the most of their NQDCP is an important one,” notes Yong Lee, Chief Operating Officer at MullinTBG. “More companies are utilizing new media tools to connect with their eligible population and educate them about plan features and new investment alternatives. For example, providing options that generate guaranteed income in retirement – previously only seen in qualified plan investment menus – are now being offered inside NQDCPs. Interest in these options and their importance to key employees continues to surge among plan sponsors.”

Other survey highlights include:

  • Criteria used for determining NQDCP eligibility varied amongst categories, with job grade cited most often (28%), and salary and title coming in second (16.5%).

    • <li …read more
    Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Prudential Retirement expands Pension Risk Transfer team

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By Business Wirevia The Motley Fool

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Prudential Retirement expands Pension Risk Transfer team

NEWARK, N.J.–(BUSINESS WIRE)– Prudential Retirement, a business unit ofPrudential Financial, Inc. (NYS: PRU) , announced today that Rohit Mathur has joined Prudential Retirement‘s pension risk transfer (PRT) team in the newly created role of senior vice president, Global Product and Market Solutions.

Mathur will assess corporate finance implications of pension risk management to cultivate a consistent recognition of pension de-risking solutions. He will partner with our distribution team in the service of our clients and promote understanding of these issues among credit and equity analysts, treasurers, chief financial officers and investment bankers. He will also lead the team developing original research and related marketing for pension de-risking strategies.

Mathur will report to Scott Kaplan, senior vice president, Head of Global Product and Market Solutions, Pension and Structured Solutions.

“Corporate pension plan sponsors are increasingly looking to pension risk transfer solutions as a means to reduce financial statement volatility, allow greater focus on their firms’ core businesses and ensure strategic flexibility,” said Phil Waldeck, senior vice president and head of pension and structured solutions.

“Our pension risk transfer team is focused on helping corporate plan sponsors achieve greater financial certainty with their pension obligations and to provide retirement security to their pension plan participants. Rohit strengthens our growing pension risk transfer team as he brings tremendous experience and expertise with pension risk issues. Reflecting market demand, his addition underscores our continuing investment in our PRT team and commitment to further building out our world class and industry-leading business practice.”

Mathur was most recently an executive director, Capital Structure and Strategy for UBS Investment Bank, where he worked with clients in multiple industries with a specific focus on corporate finance, risk advisory and pension issues. Prior to that, he was with Moody’s Investors Service where he published research on accounting and pension issues and worked with credit analysts to incorporate those risks more systematically into company ratings. He holds a Ph.D. from Columbia Business School.

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 expertise, Prudential Retirement helps meet the needs of over 3.6 million participants and annuitants. Prudential Retirement has $289.8 billion in retirement account values as of December 31, 2012. Insurance products are issued by Prudential Retirement Insurance and Annuity Company (PRIAC), Hartford, CT, or The Prudential …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Prudential Retirement white paper: Stable value a safer and more secure investment option post finan

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By Business Wirevia The Motley Fool

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Prudential Retirement white paper: Stable value a safer and more secure investment option post financial crisis

NEWARK, N.J.–(BUSINESS WIRE)– Prudential Retirement, a business unit of Prudential Financial, Inc. (NYS: PRU) , today released a new white paper, “Assessing Stable Value After 2008: Performing as Designed.”

“Stable value as an asset class performed as it was designed to do during the financial crisis,” said Michael L. Davis, senior vice president and head of Stable Value, Prudential Retirement. “This paper explores how the changes in the stable value industry have made the asset class a safer and more secure investment option, and underscores its important role as a cornerstone of the retirement strategy for millions of plan participants.”

The white paper highlights a number of steps that have been taken to increase the security of the asset class, including a more thorough and accurate risk assessment for the asset class and more conservative investment guidelines making stable value more resistant to future market dislocations.

The white paper notes that stable value has continued to generate strong relative performance and deliver guaranteed yields comparable to intermediate-term bond funds, but with low volatility comparable to that of money market funds. With strong plan participant demand, between 2007 and 2012, savings entrusted to stable value rose from $416 billion to $645.5 billion.

Davis, who joined Prudential in November 2012 from the U.S. Department of Labor’s Employee Benefit Security Administration, notes the stable value marketplace in 2013 differs from the one that existed in 2008.

“The provider landscape has changed and while these changes may have been disruptive in the short term, they are now heralding a return to the conservative investment strategies, risk parameters and performance goals that characterized the asset class when it debuted four decades ago.”

As of Dec. 31, 2012, Prudential Retirement has $106.9 billion in stable value retirement account values. Guarantees are based on the claims-paying ability of the issuing insurance company and are subject to certain limitations, terms and conditions.

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 expertise, Prudential Retirement helps meet the needs of over 3.6 million participants and annuitants. Prudential Retirement has $289.8 billion in retirement account values as of December 31, 2012. Insurance products are issued by Prudential Retirement Insurance …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Prudential Retirement adds four new plan sponsor clients

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By Business Wirevia The Motley Fool

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Prudential Retirement adds four new plan sponsor clients

Custom solutions to help plan participants achieve retirement security key to differentiating Prudential

NEWARK, N.J.–(BUSINESS WIRE)– Prudential Retirement, a business unit of Prudential Financial, Inc. (NYS: PRU) , today announced four new plan sponsor clients with over 1,500 participants.

“We are pleased to be able to bring these four new plan sponsor clients on board and look forward to leveraging our custom solutions and investment offerings, such as GoalMaker, to place their plan participants on a more secure path to and through retirement,” said George Castineiras, senior vice president, Total Retirement Solutions, Prudential Retirement. “These wins underscore Prudential Retirement’s leadership when it comes to providing plan sponsors and intermediaries full-service retirement plan offerings.”

Interstate Resources, an Arlington, Va.-based independent containerboard supplier of linerboard and corrugating recycled medium, has selected Prudential as its recordkeeper in November. “We went to market to see what was out there and we were really sold on Prudential’s established name in the retirement market and the services the firm offered,” said Ramez Skaff, secretary and executive treasurer. “Prudential Retirement’s platform really met the goals of our plan participants. We are very happy to be able to offer employees GoalMaker.” The plan has more than $35 million in assets and 700 participants. Jay Mullins, managing director, BB&T Institutional Investment Advisers, was the advisor to the deal.

Beverly Hills, Calif.-based real estate company Kennedy Wilson signed its $15.3 million plan up with Prudential in December. The plan has more than 355 participants. Andrew B. Basch, senior vice president and corporate client group director, Morgan Stanley Private Wealth Management, and Christopher W. Lowe, vice president, Morgan Stanley Wealth Management, were the advisors to the deal.

Houston, Texas-based valve manufacturer, Bray International, has also signed on. Bray’s plan has more than $12 million in assets and 197 participants. Richard Pond, CRPS, Global Wealth Services at Morgan Stanley Wealth Management, was the advisor to the deal.

Rochester, N.Y.-based beverage distributor Wright Wisner also chose Prudential to administer its retirement plan with more than $24 million in assets and roughly 336 participants. Paul D’Aiutolo, retirement plan consultant, UBS Financial Services, was the advisor to the deal.

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 …read more
Source: FULL ARTICLE at DailyFinance