NEWARK, N.J.--(BUSINESS WIRE)--Prudential Retirement announced today that it has added new plan sponsor client InterPark. Prudential Retirement is a business unit of Prudential Financial, Inc. (NYSE:PRU).
“We’re pleased to begin working with InterPark,” says Harry Dalessio, senior vice president and head of Sales and Strategic Relationships for Prudential Retirement. “This new development demonstrates our position as a trusted retirement partner and record keeper, and our ability to collaborate with plan sponsors and advisors to increase retirement readiness for participants.”
InterPark, North America’s premier owner, operator and developer of parking facilities, has 500 participants in its defined contribution plan with $23.1 million in assets. Based in Chicago, the company services more than 20 million cars in the U.S. annually and has a team of nearly 1,000 people. Dean Clune, an area executive vice president of Arthur J. Gallagher & Co., is the advisor to the plan.
“It’s extremely important for our company to provide a retirement plan that not only offers value to our employees, but also educational resources that encourage them to participate and increase their savings,” says Debby Blum, senior benefits analyst, InterPark. “After analyzing several providers during the RFP process, we selected Prudential Retirement because of its creative approach to plan design and years of experience in the industry.”
Prudential Retirement delivers retirement plan solutions for public, private, and nonprofit 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 4.0 million participants and annuitants. Prudential Retirement has $365.3 billion in retirement account values as of March 31, 2015. Retirement products and services are provided by Prudential Retirement Insurance and Annuity Company (PRIAC), Hartford, CT, or its affiliates.
Prudential Financial, Inc. (NYSE:PRU), a financial services leader with more than $1 trillion of assets under management as of March 31, 2015, 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.