“Plan sponsors across the nation are obligated to not only find institutional solutions that help them manage pension benefits and risks for their employees but also to help their employees make smart financial decisions about their retirement savings,” said Carlos Mello, vice president of Prudential Retirement. “Prudential Protection Account complements the broad suite of institutional solutions that we offer to plan sponsors and their participants. It offers liquidity, principal protection and a competitive rate of return.”
Prudential expects the option might be especially attractive to near-retirees concerned about preserving their nest egg, Mello added.
