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Prudential to Fulfill $221 Million in Retirement Promises for Sound Retirement Trust in Industry’s First Multiemployer Pension Risk Transfer
Aug 28, 2024•almost 2 years ago
Contract Type
partnership
United StatesFinancial ServicesFinanceEmployee BenefitsLending
Description
The Prudential Insurance Company of America has been selected in an industry-first multiemployer plan pension risk transfer (PRT) to settle approximately $221 million of Sound Retirement Trust pension liabilities and provide added retirement security for approximately 8,700 retirees and their beneficiaries. The company is proud to help protect the life’s work of these Sound Retirement Trust retirees and is excited for the opportunity to apply its deep retirement experience and leadership to help these individuals have a secure retirement.
Company Information
Company
Prudential Financial Retirement Business
Location
United States
About
Prudential Financial Retirement Business is a renowned retirement services provider with a large client base and significant assets under administration. It was acquired by Empower and its retirement plan business was successfully integrated into Empower's platform, allowing for the enhancement of services and the expansion of financial capabilities.
Predictive Intelligence
Strategic
ML-powered predictions for Prudential Financial Retirement Business's next move
United StatesFinancial ServicesFinanceEmployee BenefitsLending