Products November 9, 2005

Prudential Enhances DC Plan Product

November 9, 2005 (PLANSPONSOR.com) - Prudential Retirement has added 100 new funds to its fund lineup in its PruSolutions defined contribution plan offering.
Reported by

According to the announcement, the fund addition means that Prudential’s “Manager-of-Managers” sub-advised institutional fund lineup has added three institutionally sub-advised funds and eight Alliance funds, the registered Retail Mutual Fund platform now consists of 683 mutual funds from 35 fund families, and the Retail Mutual Fund platform added 5 fund families and 89 funds.

Features of the product also include:

Get more!  Sign up for PLANSPONSOR newsletters.

  • A range of compliance testing services, support for merger & acquisition activity and a fiduciary protection program that addresses three key areas of fiduciary risk: investment offerings, plan compliance and participant education and communication.
  • Programs that feature targeted messaging with personalized data to engage participants and encourage them to take positive steps toward building a secure retirement.
  • In addition, GoalMaker®, Prudential’s proprietary asset allocation tool for participants, is a standard part of the PruSolutions package.

PruSolutions, introduced in February, is targeted for qualified retirement plans with up to $20 million in assets (See  Prudential Launches DC Product for Small Companies ).

Administration November 8, 2005

WI Fund Urged to Think Wisconsin in Start-Up Support

August 11, 2005 (PLANSPONSOR.com) - The Wisconsin Investment Board has agreed to up its investment in start-up companies located in the Badger State.
Reported by

Board members agreed at a meeting this week to consider increasing the percentage of the state’s $70 billion portfolio invested in Wisconsin-based investment opportunities to give emerging companies the financial backing they need to grow and produce new jobs, according to a WisBusiness.com news report.

Trustee James Senty said the board hopes to invest more in emerging technology companies, but must weigh that against earning the highest possible return for its investors.

Never miss a story — sign up for PLANSPONSOR newsletters to keep up on the latest retirement plan benefits news.

Starting five years ago, he said the board began putting money in four venture capital firms. To date, $135 million has been invested, though only $70 million has been used, according to the news report.

Tim Keane, head of the Marquette University Golden Angels Network investment group, told the investment board trustees that Wisconsin produces more than its share of ideas.

“Ideas are not the problem, though,” he said. “It’s how to find venture capital for companies worthy of investment. And there are many more of them than we’ve seen in a long time.” Last week, his group put $535,000 in eMetagen, a drug-development firm in Madison.

In addition to universities creating spinoffs, he said businesses like GE Healthcare can spawn new firms when scientists strike off on their own.  He also said deal flow is improving in the state.

“We are seeing ideas before they go elsewhere,” he said, lauding the efforts of the newly created Wisconsin Angel Network. “The environment is improving for venture capital deals,” he said. “And more entrepreneurs will come forward as the economy improves.”

«