Prudential Retirement announced today that it has been
selected by K-Sea Transportation Partners L.P. as its retirement plan
provider. Prudential will manage approximately $25 million of assets
for the eligible participants in K-Sea's 401(k) and pension plans.
Prudential Retirement is a business of Prudential Financial, Inc.
(NYSE: PRU).
"We wanted a retirement plan partner that could provide our plan participants with investment choices and flexibility, while also providing tools to help them understand the plan and their choices," said Rick Falcinelli, vice president of Administration for K-Sea. "With the help of pension consulting firm Fundamental Foundations of America, we selected Prudential Retirement. In addition to Prudential's personalized education and enrollment services, our employees can take advantage of a broad scope of investment options on their own or through an asset allocation program that takes into account their personal situations and goals for retirement."
"Our fiduciary protection and monitoring process helped set K-Sea's mind at ease," said Jonathan Shuman, vice president of Sales for Prudential Retirement. "In addition, plan participants who feel comfortable making their own investment decisions can take advantage of our broad spectrum of investment choices directly by using online, IVR or in-person enrollment services. Participants looking for more convenience or more automated account management can use our GoalMaker(SM) asset allocation program, which will help them choose the investment mix that suits their risk tolerance and time horizon for retirement."
"Prudential Retirement's communication and education approach, and open investment architecture, seemed like a good fit for K-Sea's plan participants," said Barbara Delaney, president of Fundamental Foundations of America, LLC.
K-Sea Transportation Partners L.P. (NYSE: KSP) is headquartered in Staten Island, New York, and provides refined petroleum products marine transportation, distribution and logistics services in the northeastern United States and the Gulf of Mexico. For more information, visit their website, and the Investor Relations section, at www.k-sea.com
Fundamental Foundations of America (FFOA), headquartered in Pearl River, New York, is an independently owned and managed retirement plan consulting firm whose services include plan design, compliance, expense and investment reviews. FFOA provides their services to mid-sized companies ranging from 100-1000 employees.
Prudential Retirement delivers retirement plan solutions for public, private, and non-profit organizations. Services include state-of-the-art recordkeeping, administration, investment management, comprehensive employee investment education and communications, and trustee services. With over 80 years of retirement experience, Prudential Retirement meets the needs of two million defined contribution participants and more than one million defined benefit annuitants. Prudential Retirement has $130 billion in retirement account values as of March 31, 2005.
Prudential Financial companies, with approximately $496 billion in total assets under management as of March 31, 2005, serve individual and institutional customers worldwide and include The Prudential Insurance Company of America, one of the largest life insurance companies in the United States. These companies offer a variety of products and services, including life insurance, mutual funds, annuities, pension and retirement related services and administration, asset management, securities brokerage, banking and trust services, real estate brokerage franchises and relocation services. For more information, visit www.prudential.com.
Prudential Retirement and Prudential Financial are service marks of The Prudential Insurance Company of America, Newark, NJ, and its affiliates.
"We wanted a retirement plan partner that could provide our plan participants with investment choices and flexibility, while also providing tools to help them understand the plan and their choices," said Rick Falcinelli, vice president of Administration for K-Sea. "With the help of pension consulting firm Fundamental Foundations of America, we selected Prudential Retirement. In addition to Prudential's personalized education and enrollment services, our employees can take advantage of a broad scope of investment options on their own or through an asset allocation program that takes into account their personal situations and goals for retirement."
"Our fiduciary protection and monitoring process helped set K-Sea's mind at ease," said Jonathan Shuman, vice president of Sales for Prudential Retirement. "In addition, plan participants who feel comfortable making their own investment decisions can take advantage of our broad spectrum of investment choices directly by using online, IVR or in-person enrollment services. Participants looking for more convenience or more automated account management can use our GoalMaker(SM) asset allocation program, which will help them choose the investment mix that suits their risk tolerance and time horizon for retirement."
"Prudential Retirement's communication and education approach, and open investment architecture, seemed like a good fit for K-Sea's plan participants," said Barbara Delaney, president of Fundamental Foundations of America, LLC.
K-Sea Transportation Partners L.P. (NYSE: KSP) is headquartered in Staten Island, New York, and provides refined petroleum products marine transportation, distribution and logistics services in the northeastern United States and the Gulf of Mexico. For more information, visit their website, and the Investor Relations section, at www.k-sea.com
Fundamental Foundations of America (FFOA), headquartered in Pearl River, New York, is an independently owned and managed retirement plan consulting firm whose services include plan design, compliance, expense and investment reviews. FFOA provides their services to mid-sized companies ranging from 100-1000 employees.
Prudential Retirement delivers retirement plan solutions for public, private, and non-profit organizations. Services include state-of-the-art recordkeeping, administration, investment management, comprehensive employee investment education and communications, and trustee services. With over 80 years of retirement experience, Prudential Retirement meets the needs of two million defined contribution participants and more than one million defined benefit annuitants. Prudential Retirement has $130 billion in retirement account values as of March 31, 2005.
Prudential Financial companies, with approximately $496 billion in total assets under management as of March 31, 2005, serve individual and institutional customers worldwide and include The Prudential Insurance Company of America, one of the largest life insurance companies in the United States. These companies offer a variety of products and services, including life insurance, mutual funds, annuities, pension and retirement related services and administration, asset management, securities brokerage, banking and trust services, real estate brokerage franchises and relocation services. For more information, visit www.prudential.com.
Prudential Retirement and Prudential Financial are service marks of The Prudential Insurance Company of America, Newark, NJ, and its affiliates.
© 2005 Business Wire
