Prudential Retirement has announced the addition of two new plan sponsor clients, Hubbard Construction and The Spectranetics Corp.
The plan for Hubbard Construction is a defined contribution plan with 995 participants and $35 million in assets. Jeff Petrone of SageView Advisory Group was the advisor.
The company is the largest heavy civil construction company in Florida, and was established in 1920. Hubbard's work includes highway projects, site development, paving, utility and drainage systems, surveying and bridge building.
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The plan for the Spectranetics, which is based in Colorado Springs, Colorado, is also a defined contribution plan. It has 830 participants and $37 million in assets. Wayne Roth, senior associate/consultant with Mercer's Defined Contribution Advisors Team in Colorado, was the advisor to Spectranetics.
Spectranetics develops, manufactures, markets and distributes single-use medical devices that are used in minimally invasive procedures within the cardiovascular system. Its devices, which are used to treat arterial blockages in the heart and legs and in the removal of pacemaker and defibrillator leads, are sold in more than 65 countries.
As of Dec. 31, Prudential Retirement had $363.8 billion in retirement account values and 4 million participants and annuitants.
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