NEWARK, N.J.--(BUSINESS WIRE)--Deferred Compensation Plan officials for Rockland County, New York, have selected Prudential Retirement as their new record keeper. Prudential Retirement, among the industry’s largest recordkeepers and a leading provider of retirement solutions, is a business unit of Prudential Financial, Inc. (NYSE:PRU).
Prudential will oversee $313 million in assets covering 2,300 participants. The business transitioned in June.
“We are pleased Rockland County selected Prudential to administer their 457 deferred compensation plan,” says Scott Gaul, head of sales and strategic relationships at Prudential Retirement. “Our goal at Prudential Retirement is to make financial wellness a reality for both our plan sponsors, like Rockland County, and their employees.”
Rockland County credited Prudential’s quality of participant communication materials, commitment to onsite participant servicing, and solid investment and record-keeping platform as some of the primary factors in selecting Prudential Retirement.
Prudential Retirement is a leading retirement benefits provider in the public sector and has done extensive research to help provide better retirement outcomes to public sector workers in an effort to help them achieve a future they deserve.
“The Rockland County Deferred Compensation Board was interested in helping participants through improved communications and financial education. Prudential demonstrated a real commitment to helping participants save and invest successfully, and their technology, experience and dedication made them the best choice for our employees,” said Larry Toole, Rockland County board chair.
Peter Scott, Centurion Group, LLC, was the advisor to the Rockland County Deferred Compensation Board.
About Prudential Retirement
Prudential Retirement delivers retirement plan solutions for public, private, and nonprofit organizations. Services include defined contribution, defined benefit and nonqualified 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 more than 85 years of retirement experience, Prudential Retirement helps meet the needs of 4.3 million participants and annuitants. Prudential Retirement has $432.6 billion in retirement account values as of June 30, 2018. Retirement products and services are provided by Prudential Retirement Insurance and Annuity Company (PRIAC), Hartford, Connecticut, or its affiliates.
Prudential Financial, Inc. (NYSE:PRU), a financial services leader with more than $1 trillion in assets under management as of June 30, 2018, 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 news.prudential.com.