United Way of Central Maryland Selects Prudential’s New Portfolio Protected Buy-Out Product to Secure Pension Plan

United Way of Central Maryland Selects Prudential's New Portfolio Protected Buy-Out Product to Secure Pension Plan Prudential Retirement, a business unit of Prudential Financial, Inc. announced today that United Way of Central Maryland has selected Prudential's Portfolio Protected Buy-Out to support the termination of its defined benefit retirement plan. December 1, 2010 Prudential Retirement, a business unit of Prudential Financial, Inc. announced today that United Way of Central Maryland has selected Prudential's Portfolio Protected Buy-Out to support the termination of its defined benefit retirement plan. The Portfolio Protected Buy-Out combines the strength of Prudential's guarantee with a separate account portfolio which provides additional security to covered individuals. The Portfolio Protected Buy-Out is designed to:     Fully assume pension risk for the plan's covered liabilities, including investment, longevity and benefit option risk;     Provide for all administrative, actuarial, and investment management expenses;     Enhance the level of security to covered individuals; and     Remove pension liabilities from the plan sponsor's balance sheet. We want our retirees receiving their benefits payouts to feel confident, said Mark Furst, president and CEO, United Way of Central Maryland. We decided to partner with Prudential because they have the right people, capabilities and products to ensure our participants receive the benefits promised to them. Prudential's Portfolio Protected Buy-Out ensures all of that with the added security of a separate account. "Employers tell us about the increased challenges they face today with successfully managing both their businesses and their pension plans, said Phil Waldeck, vice president, Pension and Structured Solutions, Prudential Retirement. Through our pension risk transfer solutions, we have pulled together the expertise, knowledge, and resources to cost-effectively move the risks associated with defined benefit pension plans to Prudential. This allows employers to focus on managing their businesses, with the security of knowing we are working to ensure their employees and former employees will receive their pension benefits as promised and without fail. "We felt Prudential's innovative pension risk transfer product offered an additional layer of protection for United Way of Central Maryland," commented Robin Gantz, vice president, Aon Investment Consulting. "The long-standing reputation, competitive pricing, and financial strength of Prudential also factored into our client's decision." We're thrilled United Way of Central Maryland, in working with Aon, chose Prudential as their pension-plan partner, continued Waldeck. This is one way they're helping to provide a more secure retirement for their employees. For more information about Prudential's pension risk transfer capabilities, please visit Prudential's Pension Risk Transfer website at: http://www.prudential.com/pensionrisk ...It supports programs and initiatives in the city of Baltimore and Anne Arundel, Baltimore, Carroll, Harford and Howard counties...For more information on United Way of Central Maryland, log onto uwcm.org. Aon Corporation is the leading global provider of risk management services, insurance and reinsurance brokerage, and human capital consulting and outsourcing. Through its more than 59,000 colleagues worldwide, Aon delivers distinctive client value via innovative and effective risk management and workforce productivity solutions. Aon's industry-leading global resources and technical expertise are delivered locally through more than 500 offices in more than 120 countries...Prudential Retirement delivers retirement plan solutions for public, private, and non-profit organizations. Services include state-of-the-art record keeping, administrative services, investment management, comprehensive employee investment education and communications, and trustee services. With over 85 years of retirement experience, Prudential Retirement helps meet the needs of nearly 3.7 million participants and annuitants. Prudential Retirement has $194.3 billion in retirement account values as of 9/30/10.