Prudential Introduces Robust Nonqualified Plan Offering to Enhance Total Retirement Solutions Experience for Plan Sponsors and Participants

Recent Integration with MullinTBG Provides Access to Market-Leading Retirement Savings Strategies

NEWARK, N.J.--(BUSINESS WIRE)-- Prudential Retirement announced today that its Total Retirement Solutions (TRS) offering has been enhanced to include a new nonqualified product that provides a wide variety of benefits for retirement-plan sponsors and their participants.

Designed and administered by MullinTBG, a Prudential Financial company, the new TRS nonqualified program was developed to more effectively address the retirement-savings needs of today’s executives and to provide companies with a cost-effective way to attract and retain top talent.

The product is supported by experienced executive benefits specialists, and backed by state-of-the art recordkeeping and open-architecture funding vehicles. The new nonqualified capabilities are fully integrated with Prudential’s systems and service model to deliver a comprehensive full-service solution with an attractive executive-benefits option.

“MullinTBG’s expertise in all facets of nonqualified plan design, administration, funding and communication ensures that we’re bringing the most compelling benefit solutions to our clients, to plan participants, and to our advisor partners,” said Jamie Kalamarides, senior vice president, Retirement Solutions, at Prudential Retirement. “With our systems already integrated to provide single sign-on access for account management and reporting, we now have the products, services and organizational alignment to deliver a superior TRS experience.”

Benefits of the new program include:

• Complete nonqualified plan support by MullinTBG’s consultants and dedicated client service personnel, as coordinated through a single Prudential client relationship manager;
• Objective analysis, recommendation, and ongoing administration of a wide range of open-architecture informal funding vehicles—including taxable securities, corporate-owned life insurance, and other offerings;
• Plan year or account-based plan design customized to the company’s objectives;
• MullinTBG’s proprietary recordkeeping system, MetriX^TM, custom-built to administer a broad array of complex plan designs and provide for a fully integrated online experience that automatically enforces 409A and plan-level rules; and
• Communication and educational materials tailored to meet the expectations and needs of an executive audience.

“With defined contribution plans—both qualified and nonqualified—continuing to emerge as the primary source of retirement income for many individuals, it’s increasingly important for sponsors to partner with a provider that can seamlessly coordinate benefits programs to create real value and help ensure retirement security,” said MullinTBG Chief Executive Officer Mike Shute.

“While executive compensation may be under close scrutiny in today’s economy, most highly compensated executives will still face a retirement savings gap, and that’s why it’s critical for companies to have access to a program like Prudential’s TRS. Nonqualified plans, as part of a complete TRS solution, are a great way to attract and motivate key talent, and to hold them accountable for contributing to their company’s bottom line success,” he added.

Prudential’s TRS offering with the new nonqualified product is now fully operational and has been specifically designed to deliver a comprehensive retirement-benefits solution to Prudential’s core market—firms with retirement plan assets in excess of $30 million.

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 3.6 million participants and annuitants. Prudential Retirement has $178.3 billion in retirement account values as of December 31, 2009.

Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $667 billion of assets under management as of December 31, 2009, has operations in the United States, Asia, Europe and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. In the U.S., the company’s Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management, and real estate services. For more information, please visit www.news.prudential.com.

MullinTBG, a Prudential Financial company, is one of the nation's largest providers of nonqualified executive benefits, with more than 600 customized plans and $20.6 billion in total assets representing 60,000 corporate executives as of December 31, 2009. The firm is headquartered in Los Angeles (El Segundo) and has regional offices in Baltimore, Boston, Chicago, Dallas, New York, and Newport Beach, CA. Securities offered through M Holdings Securities, Inc., a Registered Broker/Dealer, Member FINRA and SIPC. MullinTBG and MullinTBG Insurance Agency Services, LLC are owned and operated independently from M Holdings Securities, Inc. For more information, please visit www.mullintbg.com.

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Prudential
Dawn Kelly
(973) 802-7134 office
(201) 406-7248 cell
[email protected]
or
Josh Stoffregen
(973) 802-3996 office
(973) 204-2540 cell
[email protected]

Source: Prudential