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Products April 29, 2009
Deal Allows Hewitt Clients Access to Prudential Income Product
April 29, 2009 (PLANSPONSOR.com) - Defined
contribution clients at Hewitt Associates will now have
access to Prudential Retirement's IncomeFlex Target (IFX
Target) guaranteed income product as a result of a deal
between the two companies.
Reported by Fred Schneyer
A news release said Hewitt will provide multi-channel, fully integrated access to the Prudential offering. The Prudential product will be part of Hewitt’s package offered to mid-to-large sized companies.
“As the largest independent recordkeeper of 401(k) plans and a leader in retirement consulting and research, Hewitt’s understanding of participant behavior and what it takes to provide a successful retirement positions them to effectively design a delivery platform for products like IFX Target,” said Christine Marcks, president, Prudential Retirement, in the announcement.
“Our objective is to provide tools to employees that can reduce the risks of significant market declines shortly before retirement,” said Alison Borland, Hewitt’s Retirement Outsourcing Strategy Leader. “IFX Target is one solution designed to accomplish that objective.”
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