NEWARK, N.J.--(BUSINESS WIRE)--
Prudential Retirement announced today the State of New Jersey, a government-plan client for eight years, has recommitted its defined contribution plan to Prudential Retirement. Prudential Retirement is a business unit of Prudential Financial, Inc. (NYSE:PRU).
“We look forward to our continued partnership with the State of New Jersey and continuing our commitment to help plan participants reach their retirement goals,” said Harry Dalessio, senior vice president, Sales and Strategic Relationships, Prudential Retirement. “For many years, we have offered solutions to plan participants, including GoalMaker and IncomeFlex Target, as well as a variety of investment options available through Prudential.”
The State of New Jersey has 74,126 participants in its defined contribution plans with $3.3 billion in assets. Prudential Retirement became the plan’s record keeper in 2005. Previously the plan was administered internally by the State of New Jersey.
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 4.0 million participants and annuitants. Prudential Retirement has $327.8 billion in retirement account values as of March 31, 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 March 31, 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.
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