Prudential Retirement announced today that they’ve been selected by Fairfield County Bank and Waldemar S. Nelson and Co., Inc., to provide full servicing for their retirement plans. Prudential Retirement is a business unit of Prudential Financial, Inc. (NYSE:PRU).
"We are committed to providing both Fairfield County Bank and Waldemar Nelson with the solutions, services, and support to help their employees get engaged and make financial decisions that will lead to better outcomes in retirement,” said George Castineiras, senior vice president of Total Retirement Solutions.
Fairfield County Bank, headquartered in Ridgefield, Connecticut, operates 19 branch offices throughout Fairfield County and its wholly-owned subsidiary Fairfield County Bank Insurance Services, LLC. Its 401(k) and non-qualified defined contribution plans hold nearly $39 million in assets for approximately 300 participants. “We were impressed with the Prudential Retirement team’s expertise and focus on the needs of our employees,” said Donna Kelly, vice president of Human Resources Administration, Fairfield County Bank. “Their attention to detail during the conversion process resulted in a smooth transition within our established timeframes.”
Waldemar S. Nelson, based in New Orleans, Louisiana, is a project management, engineering, environmental science and architectural services firm. Its 401(k) defined contribution plan has $63 million in assets for about 420 participants. Mark Heller with UBS is the advisor on the plan and led the vendor search process. “With the help of our advisor UBS, we selected Prudential Retirement because of its innovative guaranteed retirement income solutions and participant engagement tools that we believe will enhance our employees’ retirement security,” said Steven Ducatel, plan administrator, Waldemar S. Nelson & Co., Inc.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 3.8 million participants and annuitants. Prudential Retirement has $301.8 billion in retirement account values as of June 30, 2013. Retirement products and services are provided by Prudential Retirement Insurance and Annuity Company (PRIAC), Hartford, CT, or its affiliates.