Stable Value Investment Association holds Fall Forum in nation’s capital
NEWARK, N.J.--(BUSINESS WIRE)-- Today, the Stable Value Investment Association (SVIA) will kick off the industry association’s Fall Forum and Annual Membership Meeting -- Searching for Success: Stable Value’s Place in Defined Contributions Plan -- in Washington, D.C. at The Fairmont Hotel.
“This year, SVIA members will explore the major challenges facing plan sponsors and stable value providers as they work to ensure defined contribution plan participants have sound investment choices that can help them achieve their retirement savings and investing goals,” said James King, client portfolio manager, Strategic Relationships, Prudential Retirement. King began his tenure Jan. 1, 2012 as Chairman of the SVIA Board. Prudential Retirement is a business unit of Prudential Financial, Inc. (NYSE: PRU).
King, Bill McCloskey, vice president, Product Management, Prudential Retirement and Robert Tipp, managing director and chief investment strategist for Prudential Fixed Income Management will address the membership during the three-day forum. McCloskey will offer an overview of the stable value market from an insiders’ view and Tipp will provide members with a global economic outlook for fixed income in investments.
As of June 30, 2012, Prudential Retirement has more than $98 billion in Stable Value retirement account values, including more than $58 billion in Institutional Stand-Alone Third Party Stable Value.
The SVIA is a non-profit industry organization dedicated to educating retirement plan sponsors and participants about the importance of saving for retirement and the contribution stable value funds can make toward achieving retirement security.
"Stable Value is a core competency for Prudential,” King added. “We're committed to the business and we are delighted to provide a product that helps our clients create retirement stability and security for their participants."
As of December 31, 2011, the SVIA members managed over $646 billion invested in stable value funds by more than 25 million participants. The SVIA’s 75 member companies represent all segments of the stable value community, including public and private retirement plan sponsors, and numerous insurance companies, banks, and investment managers.
Stable Value products are issued by either The Prudential Retirement Insurance and Annuity Company (PRIAC), Hartford, Conn., or The Prudential Insurance Company of America (PICA), Newark, N.J. Both are Prudential Financial companies. Each company is solely responsible for its financial condition and contractual obligations. Guarantees are contingent on the claims paying ability of the issuer.
Prudential Retirement delivers retirement plan solutions for public, private, and non-profit organizations. Services include state-of-the-art record keeping, administrative services, investment management, comprehensive employee investment education and communications, and trustee services. With over 85 years of retirement experience, Prudential Retirement helps meet the needs of over 3.6 million participants and annuitants. Prudential Retirement has $244.8 billion in retirement account values as of June 30, 2012.
Prudential Financial, Inc. (NYSE: PRU), a financial services leader, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit http://www.news.prudential.com/
Source: Prudential Financial, Inc.