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Article: Pru's Package Deal Targets Retirement Plan Sponsors.(Wealth Management)
- Article from:
- American Banker
- Article date:
- November 2, 2009
- Author:
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Byline: Steve Garmhausen
With employers nationally shaken by retirement plan losses, Prudential Financial Inc. is hoping a bundled package of products can help it draw assets from a skeptical marketplace.
Individually, the products arenot new, but the Newark, N.J., insurance company hopes that by bundling them together it can attract assets.
The packaged retirement plan includes streamlined administration and lifetime income guarantees. The bundled product, called Redefining Retirement, is aimed at employers with 100 to 5,000 employees.
"The U.S. retirement system is in need of help," John Kalamarides, a senior vice president of ...