Springfield Clinic partners with Prudential to oversee $300 million in retirement assets
June 12 2019 - 9:00AM
Business Wire
Springfield Clinic, the second largest multispecialty clinic in
Illinois, chose Prudential Retirement as record keeper for its
defined contribution retirement plans. Prudential Retirement is a
business unit of Prudential Financial, Inc. (NYSE: PRU).
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Scott Gaul, senior vice president and
head of sales and strategic relationships for Prudential Retirement
(Photo: Business Wire)
Prudential will oversee $300 million in retirement assets, which
will cover 2,500 Springfield Clinic participants as of March 31,
2019. The partnership expands Prudential’s footprint in the
healthcare industry, where it currently oversees $18.9 billion in
assets across 797 plans, providing financial security to more than
450,000 healthcare workers.
“One of our top priorities was finding a partner who is as
committed to taking care of our physicians and employees as we
are,” said Katie Rutledge, vice president and chief human resources
officer, Springfield Clinic. “After extensive research and
consultation, we feel confident that Prudential will provide the
level of support our physicians and employees need to holistically
improve their financial health and successfully prepare them for
retirement.”
According to Craig M. Stanley, CPA CPFA, Springfield Clinic’s
retirement plan advisor from Summit Group 401(k) Consulting, other
deciding factors included, “Prudential’s plan design capabilities,
participant website and technology, and their ability to understand
and address the specific organizational objectives of Springfield
Clinic.”
“Prudential understands the unique financial wellness challenges
healthcare workers face and consistently uses this knowledge to
customize our offerings,” said Scott Gaul, senior vice president
and head of sales and strategic relationships for Prudential
Retirement. “Our commitment to tailored solutions fosters strong
relationships with advisors, including Summit Group, and bolsters
our credibility in the healthcare space.”
About Prudential Retirement
Prudential Retirement delivers retirement plan solutions for
public, private, and nonprofit organizations. Services include
defined contribution, defined benefit and nonqualified deferred
compensation recordkeeping, administrative services, investment
management, comprehensive employee education and communications,
and trustee services, as well as a variety of products and
strategies, including institutional investment and income products,
pension risk transfer solutions and structured settlement services.
With more than 85 years of retirement experience, Prudential
Retirement helps meet the needs of 4.4 million participants and
annuitants. Prudential Retirement has $454 billion in retirement
account values as of March 31, 2019. Retirement products and
services are provided by The Prudential Insurance Company of
America (PICA), Newark, N.J., or its affiliates.
About Prudential Financial, Inc.
Prudential Financial, Inc. (NYSE: PRU), a financial services
leader with more than $1 trillion of assets under management as of
March 31, 2019, 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 news.prudential.com.
About Springfield Clinic, LLP
Springfield Clinic is a progressive, physician-led
multispecialty medical group devoted to providing the highest
quality health care to its patients. More than 450 physicians and
advanced practitioners deliver value-based care in approximately 80
medical specialties and sub-specialties. As one of the largest
private multispecialty medical clinics in Illinois, Springfield
Clinic currently employs over 2,400 clinical and administrative
staff members who are committed to improving health, providing
value and serving the community. For more information, visit us
online at www.SpringfieldClinic.com.
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Media:Anjelica
Sena973-802-6930anjelica.sena@prudential.com
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