NEWARK, N.J.--([ BUSINESS WIRE ])--Prudential Retirement, a business unit of Prudential Financial, Inc. (NYSE: PRU), today announced Roseville, Calif.-based Adventist Healthcare Retirement Plan (AHRP) will be adding Prudentialas guaranteed lifetime income product, Prudential IncomeFlex Target (IFX Target), to its suite of solutions that are offered to its plan participants.* The AHRP has more than $2.6 billion in assets. Aon Hewitt, the plansa provider will continue to recordkeep the plans.
"We're happy to be able to work with Prudential to provide AHRP employees a solution that will help them provide for their financial needs in retirement."
aPrudentialas solution offers guaranteed lifetime income, which will provide the AHRP participants with enhanced security as they plan for their retirement. We applaud the AHRP for working with Prudential and Aon Hewitt to place their plan participants on a more secure path to and through retirement,a said Sri Reddy, senior vice-president of Institutional Income for Prudential.
aThe IncomeFlex Target option provides added value for our plan participants,a said Bill Easterbrook, President, Adventist HealthCare Retirement Plans. aWe selected Prudential because we wanted a proven solution to assist employees in their post-retirement years. We believe Prudential a" with its financial strength and experience a" is the appropriate partner to help us manage our fiduciary responsibilities.a
aHelping our clients prepare their employees for a secure retirement is a main concern for us at Aon Hewitt, and expanding our income solutions suite is an important part of that goal," said Alison Borland, vice president Retirement Product Strategy at Aon Hewitt. "We're happy to be able to work with Prudential to provide AHRP employees a solution that will help them provide for their financial needs in retirement."
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 $229.5 billion in retirement account values as of December 31, 2011. 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 approximately $901 billion of assets under management as of December 31, 2011, has operations in the United States, Asia, Europe, and Latin America. Prudentialas 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., Prudentialas iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit [ http://www.news.prudential.com/ ].
*Guarantees are based on the claims-paying ability of the insurance company and are subject to certain limitations, terms, and conditions.
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