Prudential Retirement has added new plan sponsor client Questar Corporation, an integrated natural gas company.
Prudential Retirement is a business unit of Prudential Financial.
“We’re delighted Questar selected Prudential Retirement to help their employees get to and through retirement,” says Harry Dalessio, senior vice president, sales and strategic relationships, Prudential Retirement. “Questar’s decision to choose Prudential validates our position as a leading service provider dedicated to offering innovative retirement plan products and services to help their employees make financial decisions that will lead to a successful Day One of retirement.”
Questar Corporation has 1,961 participants in its defined contribution plan with USD514 million in assets. The conversion date took place on 1 July. The natural gas-focused energy company has three lines of business — retail gas distribution; interstate gas transportation and storage; and gas development and production.
“Clear differentiators for us were Prudential Retirement’s expertise, knowledge and innovative approach and products related to retirement solutions for our employees,” said Julie Wray, corporate secretary and general manager, human resources at Questar Corporation.
Jeffrey Scott, vice president of retirement plans at FirstWest Retirement Solutions, was the advisor to the deal and will continue hereafter.
“This deal is a result of a comprehensive RFP process where Questar Corporation asked us to assess several record-keepers,” Scott says. “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.”