NEWARK, N.J.--(BUSINESS WIRE)--Blue Cross and Blue Shield of Nebraska, an independent licensee of the Blue Cross and Blue Shield Association, hired Prudential Retirement to serve as the new provider for its 401(k) retirement plan. Prudential Retirement, among the industry’s largest record keepers, is a business unit of Prudential Financial, Inc. (NYSE: PRU).
The Blue Cross and Blue Shield of Nebraska plan has 1,525 participants and $138 million in retirement plan assets.1
“Our new relationship with Blue Cross and Blue Shield of Nebraska underscores the confidence companies have in our capabilities as not only a record keeper and administrator for their 401(k) plan, but as a holistic financial wellness provider,” said Scott Gaul, senior vice president and head of sales and strategic relationships at Prudential Retirement. “As record keeping becomes more of a commodity in the marketplace, providers need to be able to differentiate, and we see financial wellness as our differentiator.”
Blue Cross and Blue Shield of Nebraska credited Prudential’s competitive pricing, robust planning tools and resources, outstanding reputation and demonstrated passion to partner with employers to meet the needs of today’s workforce as some of the key factors in choosing Prudential Retirement.
Robert Foster of Marcotte Wealth Management is the advisor of the plan.
“As a leading provider of health and dental insurance, we know how important it is to help organizations provide their workforce with access to benefits,” said Cathy Filipiak, director of human resources at Blue Cross and Blue Shield of Nebraska. “Our focus on wellness isn’t just about physical health, but also about financial health. Prudential shares this philosophy, which makes partnering with them to help our employees achieve financial security even more meaningful.”
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 of 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.
1 as of 6/1/18