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Deals & People February 11, 2008
Newport Group to Distribute Pru’s IncomeFlex
Prudential Retirement has entered into a distribution agreement with The Newport Group to offer Prudential IncomeFlex, a 401(k) retirement income solution.
Reported by Fred Schneyer
According to a news release, Newport will provide integrated access to IncomeFlex to its new and existing clients.
Prudential’s IncomeFlex product is designed for retirement plan participants, aged 50 and older. It provides a guaranteed stream of lifetime income while still allowing clients to maintain control over their assets and retain the potential to capture market growth, according to Prudential.
“We believe that, with help, everyone can achieve a more secure retirement, and this arrangement not only expands our footprint in the retirement market, it also provides American workers outside of our client base with the opportunity to receive the guaranteed minimum withdrawal benefits IncomeFlex can deliver,” Christine Marcks, president, Prudential Retirement, said in the news release.