The product was designed and is administered by MullinTBG, a Prudential Financial company. According to an announcement, the product is backed by Mullin’s recordkeeping system and open-architecture funding vehicles.
Benefits of the new program, according to Prudential, include:
- complete nonqualified plan support by MullinTBG’s consultants and dedicated client service personnel, as coordinated through a single Prudential client relationship manager;
- objective analysis, recommendation, and ongoing administration of a wide range of open-architecture informal funding vehicles—including taxable securities, corporate-owned life insurance, and other offerings;
- plan year or account-based plan design customized to the company’s objectives;
- MullinTBG’s proprietary recordkeeping system, MetriX, custom-built to administer a broad array of complex plan designs and provide for a fully integrated online experience that automatically enforces 409A and plan-level rules; and
- communication and educational materials tailored to meet the expectations and needs of an executive audience.
The new nonqualified capabilities are fully integrated with Prudential’s systems and service model.