Deals & People February 2, 2012

Retirement Plan Advisors Names VP

Retirement Plan Advisors (RPA) appointed Vernon Kempker as vice president of finance and operations in its Jefferson City, Missouri office. 
Reported by

Kempker oversees all aspects of RPA’s Office of Supervisory Jurisdiction Branch operations, as well as the General Securities and Group Retirement Plan business processing units. He also directs RPA’s Commissions, Finance and Compliance units.

Kempker joined Retirement Plan Advisors in 2008 as director of finance and accounting. He has nearly 20 years of experience in corporate finance, with 15 of those years dedicated to the accounting field. His previous experience includes serving as director of finance for Scholastic Inc. and divisional controller for Fasco Industries Inc.

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Products February 2, 2012

Prudential Adds Two Funds to Guaranteed Lifetime Income Component

Prudential Retirement is offering J.P. Morgan SmartRetirement Target-Date Strategies and Fidelity VIP (Variable Insurance Product) Freedom Funds in its lineup of target-date funds with a guaranteed lifetime income component.  
Reported by

The target-date funds in the J.P. Morgan Asset Management and Fidelity Investment lineups adjust their asset mix as investors approach their target retirement date. Ten years before the target date of the selected fund, the guaranteed minimum withdrawal benefit (GMWB) is automatically activated, guaranteeing a minimum withdrawal amount for the participant’s entire life.

“These income guarantees combined with the benefits of target-date funds offer investors protection from market downturns and help protect their future retirement income,” said Srinivas Reddy, senior vice president of Prudential Retirement’s Institutional Income.

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