Prudential Retirement has added new plan sponsor client Pittsburgh Glass Works, a manufacturer and distributor of automotive glass products.
Prudential Retirement is a business unit of Prudential Financial (PRU).
"We’re committed to help Pittsburgh Glass Works provide its employees with a superior workplace retirement plan that will deliver better outcomes and help prepare their employees for a secure Day One of retirement," said Harry Dalessio, senior vice president, Sales and Strategic Relationships, Prudential Retirement.
"We’re pleased they chose Prudential Retirement to offer solutions and products that help deliver positive results."
Pittsburgh Glass Works, LLC has 3,500 participants in its defined contribution plan with $232 million in assets. Founded in 1883, Pittsburgh Glass is a global leader in the manufacturing and distribution of a full range of automotive glass products, including windshields, sidelites, backlites and sunroofs.
PGW’s products serve the automotive original equipment market as well as the aftermarket. Pittsburgh Glass Works also subsequently added Prudential Retirement’s managed account product as well. Michael Lepore and Gerry Goldberg of Goldberg, Yolles and Lepore, LLC, which is affiliated with Wells Fargo Advisors Financial Network, LLC, were the advisors to the deal and will continue hereafter.
"Pittsburgh Glass, LLC requested our assistance in evaluating various record-keepers as part of a request for proposal process. Prudential ultimately prevailed because of its ability to clearly identify its value-added proposition," said Lepore and Goldberg in a joint statement.
Prudential Retirement delivers retirement plan solutions for public, private, and non-profit 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 over 4.0 million participants and annuitants. Prudential Retirement has $330.5 billion in retirement account values as of June 30, 2014. Retirement products and services are provided by Prudential Retirement Insurance and Annuity Company (PRIAC), Hartford, CT, or its affiliates.