Prudential Retirement announced today that it has added new plan sponsor
clients Integra, a communications and network services provider, and
USMD Holdings, Inc., a physician-led, integrated health system.
Prudential Retirement is a business unit of Prudential Financial, Inc.
(NYSE:PRU).
“We are thrilled to be able to deliver sophisticated plan design
analysis and investment flexibility to the employees of Integra and
USMD,” said Harry Dalessio, senior vice president, Sales and Strategic
Relationships, Prudential Retirement. “These new partnerships showcase
how we work side-by-side with intermediaries and plan sponsors to equip
plan participants with the tools they need to help prepare their
employees for a secure Day One of retirement and beyond.”
Integra has 1,600 participants in its defined contribution plan with $65
million in assets. A privately owned company, Integra provides
facilities-based communications and network services to enterprises,
small and mid-sized businesses, government agencies and carriers,
spanning the western U.S. with services in 11 states and 35 metro areas
connected by more than 6,000 miles of company-owned long-haul fiber.
Integra offers organizations of all sizes a full range of network, voice
and data services and the connections they need to drive success in a
digital economy. For more information about Integra, visit www.integratelecom.com.
“When we began the search for a recordkeeper for our defined
contribution plan, one of our goals was to find a provider with strong
capabilities in 401k plan design optimization,” said Felicity O’Herron,
senior vice president, Human Resources at Integra. “We strive to offer
our employees a robust and expertly managed array of benefits plans and
a flexible, well-designed 401k is a key component of that.”
The conversion date for Integra occurred on May 1, 2014. Paula
Hendrickson, CFP, senior vice president and director of Retirement
Services at First Western is the advisor of the plan. “By understanding
Integra’s goals and the retirement needs of their employees early on, we
were able to find the right partners to deliver a superior client
experience to Integra,” said Hendrickson.
USMD has 1,200 participants in its defined contribution plan with $91
million in assets. Headquartered in Irving, Texas, USMD serves the
Dallas Forth Worth metropolitan area with more than 250 physicians and
associate practiconers. USMD provides healthcare services to patients in
just under 20 different specialties at its two hospitals, nine cancer
treatment centers and nearly 70 physician clinics.
“Prudential is a great fit for our diverse workforce,” said Debbie
Roberts, senior vice president, Human Resources at USMD Holdings, Inc.
“Their expertise around the 401(k) plan design, along with the ability
to communicate with and engage employees through a multi-media approach,
really stood out as a differentiator.”
Joseph Calao, Charles “Pat” Reddell, Kristi Traylor and Jim Lacamp of
UBS Financial Services lead the RFP process, helping USMD through the
transition. The conversion date took place on January 1, 2014. David
Altimont of the Dallas Lockton office will be the on-going consultant to
the plan.
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 4.0 million
participants and annuitants. Prudential Retirement has $327.8 billion in
retirement account values as of March 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 $1.1 trillion of assets under management as of March 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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Copyright Business Wire 2014