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Pru Keeps 401(k) Plan And Pension Plan

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NU Online News Service, Dec. 8, 2004, 4:33 p.m. EST

A Newark, N.J., insurer says it has renewed retirement services contracts with 2 midsize employers.[@@]

Prudential Financial Inc. has retained a 401(k) plan with 700 participants and $82 million in assets at DynMcDermott Petroleum Operations Company, New Orleans.

DynMcDermott Petroleum holds the maintenance and operations contract for the U.S. Department of Energy’s Strategic Petroleum Reserve.

Prudential also has retained a defined benefit pension plan with 780 participants and $50 million in assets. That plan, sponsored by the Town of Enfield, Conn., covers employees who work for a suburb 18 miles north of Hartford.