American Council of Engineering Companies
(ACEC) Retirement Trust Adopts Prudential
Members of the ACEC-Sponsored Retirement Program Gain Access to Nation’s Leading In-Plan
Guaranteed Retirement-Income Solution
February 03, 2010 11:34 AM Eastern Time
NEWARK, N.J.--(EON: Enhanced Online News)--Prudential Retirement announced today that its market-leading
guaranteed retirement-income solution, Prudential IncomeFlex® (IFX), will be offered as an investment option in the
American Council of Engineering Companies (ACEC) Retirement Trust, a defined contribution retirement program
sponsored by ACEC for its member firms.
The ACEC Retirement Trust, which is administered by Prudential, currently consists of more than 230 independent
engineering companies and approximately 13,000 plan participants.
“For our member firms and their employees, IncomeFlex is ‘the right program at the right time,’” said Keith Swaffar,
a Trustee at the ACEC Retirement Trust. “It complements the wide array of retirement product-and-service
solutions already available through the Trust. And, most importantly, it provides participants with guaranteed lifelong
income without the loss of control associated with other income products. We believe the addition of IncomeFlex
clearly enhances the value and appeal of our program.”
One company obviously impressed with the IncomeFlex option is KCI Technologies, an ACEC-member firm. After
learning that IncomeFlex would become an investment offering in the Trust, KCI transferred the administration of its
401(k) plan from another provider to take advantage of the ACEC-sponsored program.
“Changing retirement-plan providers is never something to take lightly. But in looking at all the Trust had to offer—
the diversity of fund options, the plan advisory services, the innovative asset-allocation offerings, and, of course,
IncomeFlex—we felt the benefits to our firm and our employees were simply too great to ignore,” said Terry F.
Neimeyer, CEO of KCI.
His sentiments we