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Pru Wins Big Retirement Plan Account

By staff Writer

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Evonik Degussa Corp. has hired Prudential Retirement to handle all of the organization’s retirement programs.

Evonik Degussa, Dusseldorf, Germany, a unit of Evonik Industries A.G., Essen, Germany, is a specialty chemicals manufacturer.

Evonik Degussa has about 11,000 active plan participant and retirees and about $650 million in assets in defined benefit plans, ordinary defined contribution plans and nonqualified deferred compensation programs, according to Prudential Retirement, a unit of Prudential Financial Inc., Newark, N.J.

Prudential Retirement already has been helping Evonik Degussa run a defined benefit retirement plan.