Prudential Retirement, a business unit of Newark-based Prudential Financial Inc., announced today it will manage retirement plans for two new clients, with combined assets of more than $100 million.
Fairfield County Bank in Connecticut and Waldemar S. Nelson in Louisiana have selected Prudential Retirement to manage their plans.
According to the announcement, Fairfield County Bank, headquartered in Ridgefield, Conn., operates 19 branch offices throughout Fairfield County and its wholly owned subsidiary, Fairfield County Bank Insurance Services LLC. Its 401(k) and non-qualified defined contribution plans hold nearly $39 million in assets for approximately 300 participants.
Nelson, in New Orleans, is a project management, engineering, environmental science and architectural services firm. Its 401(k) defined contribution plan has $63 million in assets for about 420 participants.