NEWARK, N.J.--(BUSINESS WIRE)--
Prudential Retirement announced today that it has added new plan sponsor client Questar Corporation, an integrated natural gas company. Prudential Retirement is a business unit of Prudential Financial, Inc. (PRU).
“We’re delighted Questar selected Prudential Retirement to help their employees get to and through retirement,” said Harry Dalessio, senior vice president, Sales and Strategic Relationships, Prudential Retirement. “Questar’s decision to choose Prudential validates our position as a leading service provider dedicated to offering innovative retirement plan products and services to help their employees make financial decisions that will lead to a successful Day One of retirement.”
Questar Corporation has 1,961 participants in its defined contribution plan with $514 million in assets. The conversion date took place on July 1. The natural gas-focused energy company has three lines of business — retail gas distribution; interstate gas transportation and storage; and gas development and production.
“Clear differentiators for us were Prudential Retirement’s expertise, knowledge and innovative approach and products related to retirement solutions for our employees,” said Julie Wray, corporate secretary and general manager, Human Resources at Questar Corporation.
Jeffrey Scott, vice president of Retirement Plans at FirstWest Retirement Solutions was the advisor to the deal and will continue hereafter.
“This deal is a result of a comprehensive RFP process where Questar Corporation asked us to assess several record-keepers,” Scott said. “Ultimately Prudential came out the winner because of its expertise within the defined contribution space and its ability to meet the needs of Questar’s plan participants.”
Prudential Retirement delivers retirement plan solutions for public, private, and non-profit organizations. Services include defined contribution, defined benefit and non-qualified deferred compensation record keeping, administrative services, investment management, comprehensive employee education and communications, and trustee services, as well as a variety of products and strategies, including institutional investment and income products, pension risk transfer solutions and structured settlement services. With over 85 years of retirement experience, Prudential Retirement helps meet the needs of over 4.0 million participants and annuitants. Prudential Retirement has $330.5 billion in retirement account values as of June 30, 2014. Retirement products and services are provided by Prudential Retirement Insurance and Annuity Company (PRIAC), Hartford, CT, or its affiliates.
Prudential Financial, Inc. (PRU), a financial services leader with more than $1.1 trillion of assets under management as of June 30, 2014, 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 www.news.prudential.com.
- Employment & Career
- Questar Corporation
- Prudential Financial, Inc.