Prudential Retirement selected to administer $220M MWRD plan

Prudential Retirement announced today that it has added new plan sponsor client Metropolitan Water Reclamation District of Greater Chicago (MWRD). Prudential Retirement is a business unit of Prudential Financial, Inc. (NYSE:PRU).

“We are honored that the MWRD has selected us as their new record keeper, and we look forward to this new partnership,” says Harry Dalessio, senior vice president, Sales and Strategic Relationships, Prudential Retirement. “This latest win underscores our commitment to solving America’s retirement challenges and demonstrates how we collaborate with plan sponsors to help their participants reach their retirement goals.”

MWRD has 1,818 participants in its defined contribution plan with $220 million in assets. The organization provides wastewater treatment and stormwater management services to more than five million Cook County residents. The plan transitioned to Prudential Retirement in January. Segal Rogerscasey is the advisor to the plan.

“We are committed to providing our employees with a retirement plan that works for them with built-in educational resources that can equip them with the knowledge they need to successfully manage retirement plans,” says MWRD President Mariyana Spyropoulos. “Prudential’s unique approach to plan design and participant engagement model were key factors in our decision to select them as our new record keeper.”

Prudential Retirement delivers retirement plan solutions for public, private, and nonprofit organizations. Services include defined contribution, defined benefit and non-qualified 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 over 85 years of retirement experience, Prudential Retirement helps meet the needs of 4.0 million participants and annuitants. Prudential Retirement has $363.8 billion in retirement account values as of December 31, 2014. Retirement products and services are provided by Prudential Retirement Insurance and Annuity Company (PRIAC), Hartford, CT, or its affiliates.

Prudential Financial, Inc. (NYSE:PRU), a financial services leader with more than $1 trillion of assets under management as of December 31, 2014, 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 www.news.prudential.com.

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