Market Overview

Prudential Retirement wins N.Y. Union Plan; oversees $5.7 billion in retirement assets

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The Joint Industry Board (JIB), a New York-based labor/management
organization serving the International Brotherhood of Electrical Workers
(IBEW) Local Union No. 3 members and their employers since 1943,
selected Prudential Retirement to be the recordkeeper for its Deferred
Salary Plan, or 401(k) plan. Prudential Retirement, among the industry's
largest recordkeepers and leading provider of Taft-Hartley retirement
plan solutions, is a business unit of Prudential Financial, Inc. (NYSE: PRU).

This Smart News Release features multimedia. View the full release here:
http://www.businesswire.com/news/home/20170605005618/en/

"Unions play a critical role in giving their members a voice on workplace issues ranging from compen ...

"Unions play a critical role in giving their members a voice on workplace issues ranging from compensation and safety to access to employee benefit offerings like retirement plans." - Harry Dalessio, Prudential Retirement (Photo: Business Wire)

Prudential will oversee $5.7 billion in assets covering 33,000
participants beginning July 3.

"Unions play a critical role in giving their members a voice on
workplace issues ranging from compensation and safety to access to
employee benefit offerings like retirement plans," said Harry Dalessio,
head of Sales & Strategic Relationships at Prudential Retirement. "This
latest client to retain us is a testament to our deep expertise and
commitment to partnering with unions to help improve their members'
long-term financial security."

According to a recent
survey
from Prudential and the Economist Intelligence Unit, more
than half of union members (51 percent) say unions should focus on
protecting the security of pensions and other employee benefits.

As the leading provider of Taft-Hartley
retirement solutions, Prudential
Retirement
manages $23.5 billion in assets on behalf of 460,000
union members participating in 204 plans.

About Prudential Retirement

Prudential Retirement delivers retirement plan solutions for public,
private, and nonprofit organizations. Services include defined
contribution, defined benefit and non-qualified deferred compensation
recordkeeping, 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 more than 85 years of
retirement experience, Prudential Retirement helps meet the needs of 4.2
million participants and annuitants. Prudential Retirement has $395.5
billion in retirement account values as of March 31, 2017. Retirement
products and services are provided by Prudential Retirement Insurance
and Annuity Company (PRIAC), Hartford, Conn., or its affiliates.

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