Prudential Retirement Selected to Manage Bradley Caldwell's Retirement Plan
NEWARK, NJ, October 26, 2004 -- Prudential Retirement, a business of Prudential Financial (NYSE: PRU), announced today that it has been chosen to be the defined contribution provider for Bradley Caldwell Inc.'s retirement program. As a result, Prudential will manage 401k plan assets of approximately $10 million for the company and its nearly 350 employees.
"We were looking for a provider that would help our employees feel confident in their retirement plans and in the investment choices they could make within the plan," said James L. Bradley, president and CEO of Bradley Caldwell. "Smith Barney helped us narrow down our choices, and Prudential Retirement was a clear choice for us. Prudential's personalized approach to education arms our employees with the information and tools needed to make informed decisions and plan appropriately for their retirement. In addition, Prudential's open-architecture of fund offerings provides our employees with access to a broad array of fund families and investment choices."
"We are pleased that Bradley Caldwell chose us as their plan provider. Our approach to education and communication, along with the fund choices and flexibility that can be tailored to each individual's stage in life, risk tolerance and specific financial circumstances, provides the information and tools for Bradley Caldwell's employees to make informed decisions about their retirement plan," said Scott Sleyster, head of Prudential’s full-service retirement operations.
Smith Barney added: "Our goal was to assist Bradley Caldwell in choosing a retirement benefits provider that would fit well with their business needs while providing comprehensive information, education, investment choices, and flexibility for its employees. Prudential Retirement clearly met all of the criteria."
Headquartered in Hazleton, PA, Bradley Caldwell specializes in the wholesale distribution of pet, equine, farm & feed, animal health, wild-bird, pond and lawn & garden supplies. Bradley Caldwell serves the entire northeastern U.S., ranging from Maine to North Carolina and westward to Michigan.
Smith Barney, part of Citigroup's subsidiary Citigroup Global Markets Inc. (CGMI), is a global, full-service financial firm, which provides brokerage, investment banking and asset management services to corporations, governments and individuals around the world. As a leader in the U.S. securities industry, our core services include sales, research and trading for individuals and institutions, underwriting, advisory and specialty financing for corporations and government entities, mutual fund services, futures and asset management.
Prudential Retirement delivers retirement plan solutions for public, private, and non-profit organizations. Services include state-of-the-art recordkeeping, investment management, comprehensive employee investment education and communications, and trustee services. With over 75 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 $125 billion in retirement account values as of June 30, 2004.
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