Prudential GoalMaker 401K Asset Allocation Service Now Available Online.Business &High Tech Editors &Insurance Writers NEWARK, N.J.--(BUSINESS WIRE)--Jan. 31, 2000 Prudential Prudential is the name of two different companies and buildings named after them: Companies:
The process of dividing a portfolio among major asset categories such as bonds, stocks or cash. The purpose of asset allocation is to reduce risk by diversifying the portfolio. service is now available to clients on the company's Online Retirement Center web site. The service, which was launched in 1999, helps 401(k) and other retirement plan investors simplify their investment selections by choosing a model portfolio that can be automatically rebalanced periodically. GoalMaker, which was initially released as a paper worksheet-based tool, helps determine an individual's risk tolerance Risk Tolerance The degree of uncertainty that an investor can handle in regards to a negative change in the value of their portfolio. Notes: An investor's risk tolerance varies according to age, income requirements, financial goals, etc. and calculates his or her time to retirement. The online extension matches that individual's results with one of 12 model portfolios developed based on asset allocation models from Ibbotson Associates using investment options from Prudential and other asset managers. Each client has its own set of model portfolios, based on the investments it has chosen for its retirement plan. &uot;This is really a defining example of how we're building innovative technological solutions around the needs of our clients and their plan participants Plan participants Employees or other beneficiaries who are eligible to receive benefits from a company's employee benefit plan. ,&uot; said Ken Montgomery Ken Montgomery (born January 5 1951) is a former Australian rules footballer who played for North Melbourne in the VFL. A half back flanker, Montgomery was a premiership player with North Melbourne in 1977, having missed out on their flag win two years earlier. , President of Prudential Retirement Services. &uot;This service integrates the very important task of investment selection with the host of other services we already provide through our Online Retirement Center.&uot; Prudential Retirement Services' maintains interactive web sites for both plan participants and plan sponsors. The participant site allow transactions, including exchanges and allocation changes, and provides individualized in·di·vid·u·al·ize tr.v. in·di·vid·u·al·ized, in·di·vid·u·al·iz·ing, in·di·vid·u·al·iz·es 1. To give individuality to. 2. To consider or treat individually; particularize. 3. account information featuring fund balances, daily fund prices, interactive retirement modeling and investment education services. The plan sponsor site also provides benefits professionals with on-line reporting including plan investments, key transactions and average account balances. In addition, it allows plan sponsors to monitor participant accounts, as well as track fund prices and performance of benchmarks to keep abreast Verb 1. keep abreast - keep informed; "He kept up on his country's foreign policies" keep up, follow trace, follow - follow, discover, or ascertain the course of development of something; "We must follow closely the economic development is Cuba" ; "trace the of market changes. The online version of GoalMaker is available immediately to Prudential clients who have already signed up for the service and to new retirement plan clients as they transition to Prudential. Prudential Retirement Services provides defined contribution and benefits services for public, private and non-profit organizations A non-profit organization (abbreviated "NPO", also "non-profit" or "not-for-profit") is a legally constituted organization whose primary objective is to support or to actively engage in activities of public or private interest without any commercial or monetary profit purposes. , with a combination of investment management expertise, state-of-the-art record keeping, and comprehensive investment education programs. With more than 71 years of experience in managing retirement plans, the company today manages more than $61 billion in defined contribution retirement assets for more than 1 million plan participants. Prudential, with $362 billion in total assets managed and administered as of September 30, 1999, is one of the largest diversified financial The diversified financial services segment includes a range of consumer and commercially-oriented companies offering a wide variety of products and services, including various lending products (such as home equity loans and credit cards), insurance, and securities and investment institutions in the world. Prudential has a global presence in 30 countries, providing a variety of products and services in the areas of investments, insurance, securities, and real estate to more than 30 million customers. |
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