Prudential Retirement, a business unit of Prudential Financial Inc. (Prudential) announced their partnership with ASPire Financial (ASPire), a third-party retirement management solutions firm, to make Prudential’s stable value product accessible to the 4,000 school districts across the country that use ASPire as a record keeper.
Prudential, which views the partnership as an opportunity for their stable value product in the 403(b) realm hopes the partnership will allow them to establish a presence among educators and administrators. The partnership is indicative of Prudential’s desire to utilize third-party retirement platforms to reach new audience.
The stable value option for the 403(b) platform was designed to complement the unique subtleties of the education market. It provides safety of principal, liquidity and a competitive crediting rates that is guaranteed for at least six months.
Similar to other ASPire investment options, there are no sales charges of redemption fees.
Lincoln Financial Group Distributors (Lincoln) the wholesale and retail distribution subsidiary of Lincoln Financial Group has named Beth O’Brien senior vice president and head of Finance and Strategy.
O’Brien, a industry veteran joins Lincoln from Genworth Financial where she served as vice president of Life Product Development. O’ Brien originally arrived at Genworth through the initial public offering from General Electric in 2004. She served Genworth in various capacities including president of Internal Sales and the Producer Call Center, national sales manager for Genworth’s annuity business, vice president, Business Planning and Process for the annuity division which in 2009 was expanded to include distribution strategy and other product lines within the company.
She was courted by Lincoln in order to drive growth for Lincoln’s two distribution franchises: Lincoln Financial Distributors and Lincoln Financial Network.
O’Brien will utilize her experience to lead strategic efforts towards growing both franchises.
In other Lincoln news:
Lincoln Financial Group has launched a microsite to complement their three-year educational endeavor about their namesake, President Abraham Lincoln. The educational initiative, “Lincoln’s Legacy” was designed to educate children and adults on the historical relevance of Lincoln and the enduring legacy he has left.
Planned to coincide this year with the 150 anniversary of the signing of the Emancipation Proclamation, the initiative will culminate in 2015 with the 150 anniversary of the 13 Amendment to the constitution.
In other annuity news:
The North American Company for Life and Health Insurance (North American) announced The NAC SecureChoice fixed index annuity with a built-in enhanced death benefit. The product includes a stacking roll-up feature that facilitates growth for heirs. The fixed index annuity also contains a built-in guaranteed minimum death benefit which provides growth opportunities through a combination of bonuses, roll-up credits and interest credits. The annuity also provides an opportunity to add an optional lifetime income rider with staking roll-up, as well, in order to avail clients with a certain level of flexibility.
The Retirement Income Industry Association (RIIA) has announced the 2013 winner of the Achievement in Applied Retirement Research Award.
Shlomo Benartzi, professor and co-chair of the Behavioral Decision-Making Group at UCLA Anderson School of Management, will receive this Honor at the RIIA Fall Conference. The award, sponsored by Research Magazine and ThinkAdvisor.com, honors Benartzi for his work in behavioral science, especially, his focus on household science and participant behavior in retirement savings plans.