Prudential Retirement has scored a substantial win in the ever-competitive defined contribution record-keeping business.
Prudential is now overseeing the administration of Questar Corp.' s retirement plan, which has 1,961 participants and $514 million in assets. Questar is a natural gas company based in Salt Lake City, Utah.
The company won Questar's retirement business from Wells Fargo.
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FirstWest Retirement solutions advised Questar on the selection process and will remain on as an advisor to their DC plan.
"Ultimately Prudential came out the winner because of its expertise within the defined contribution space and its ability to meet the needs of Questar's plan participants," Jeffery Scott, vice president of retirement plans at FirstWest, said.
"Clear differentiators for us were Prudential Retirement's expertise, knowledge and innovative approach for our employees," said Julie Wray, corporate secretary and general manager for HR at Questar.
Over 4 million plan participants are covered under Prudential Retirement Services, with retirement assets totaling $330.5 billion as of June 30, 2014.
Also read: Pittsburgh Glass picks Pru Retirement
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
