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Pru Adds Nonqualified Plan Feature

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Prudential Financial Inc. (NYSE:PRU) has introduced a nonqualified retirement plan program aimed at employers with more than $30 million in retirement plan assets.

MullinTBG, El Segundo, Calif., will support and administer the plans using its MetriX recordkeeping system, which is designed to enforce 409A and plan-level rules, according to Prudential, Newark, N.J.

Prudential acquired MullinTBG in October 2008.

Employers the use the program can offer a variety of informal funding vehicles, including taxable securities and corporate-owned life insurance, and the educational materials are designed to meet the needs of executives, Prudential says.