Westchester County taps Prudential to manage $607 million in retirement assets
21 March 2019 - 12:00AM
Business Wire
Westchester County selected Prudential Retirement as record
keeper for its deferred compensation retirement plan. Prudential
Retirement is a business unit of Prudential Financial, Inc. (NYSE:
PRU).
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Scott Gaul, Senior Vice President,
Prudential Retirement (Photo: Business Wire)
Prudential will oversee $607 million in retirement assets
covering approximately 4,900 participants. The plan transitioned on
Dec. 17, 2018.
“This win is another proof point of our expertise in serving the
public sector,” said Scott Gaul, senior vice president and
head of sales and strategic relationships for Prudential
Retirement. “We oversee many public-sector plans, which gives us a
unique understanding of the multifaceted challenges facing the
governmental marketplace.”
“One of the reasons we selected Prudential was their commitment
to dedicated on-site participant servicing and education, which
includes retirement counselors that work with our employees to
ensure they maximize their plan,” said Ann Marie Berg, Commissioner
of Finance and board chair.
Other factors that influenced Westchester’s selection include
the quality of Prudential’s participant communication materials and
a solid investment and recordkeeping platform.
Peter Scott, JD, managing director at Centurion Group is the
plan’s consultant.
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 recordkeeping, 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 4.4 million participants and
annuitants. Prudential Retirement has $446.5 billion in retirement
account values as of December 31, 2018. Retirement products and
services are provided by Prudential Retirement Insurance and
Annuity Company (PRIAC), Hartford, Connecticut, or its
affiliates.
About Prudential Financial, Inc.
Prudential Financial, Inc. (NYSE: PRU), a financial services
leader with more than $1 trillion of assets under management as of
December 31, 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.
© 2019 Prudential Financial, Inc. and its related entities.
Prudential, the Prudential logo, the Rock symbol and Bring Your
Challenges and service marks of Prudential Financial, Inc., and its
related entities, registered in many jurisdictions worldwide.
1018842-00001-00
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MEDIA:Monique
Freeman973-802-3745monique.freeman@prudential.com
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