'Demonstrating its market leadership in developing innovative uses of technology to serve the needs of employers and employees, Prudential Retirement Services today announced important new upgrades for users of wirelessly enabled Palm(TM) handheld computers.
Prudential will be the first defined contribution retirement plan provider to enable customers to move money between funds, change their contribution allocations, and rebalance their 401(k), 403(b) and 457 retirement accounts using their wirelessly enabled Palm VIIx handhelds, as well as Palm III or Palm V series handhelds and Palm m100 handhelds with wireless connectivity via add-on modems or Palm's Mobile Internet Kit, which will access proprietary web content via the Palm.Net(R) service.
"We are excited to be the first in the nation to empower clients with transaction execution via Palm handhelds because the wireless platform offers the ultimate in accessibility," said Kerry Gile, senior vice president, Sales & Client Service. "We also enable participants to adjust their accounts over the Internet and via phone," Gile added. "It's information and account management on demand -- whenever our clients want it."
Prudential continues to demonstrate its commitment to technology. In 1999, Prudential Retirement Services became the first provider to offer wireless access to 401(k), 403(b) and 457 retirement plan information for users of the Palm VII organizer.
This latest innovation builds on the strength and experience of Prudential, one of the nation's largest diversified financial institutions, and the portability, simplicity and connectivity of wirelessly enabled Palm handhelds.
"The real winners today are the customers who now have more power to make up- to-the-minute financial decisions about their retirement futures," said Scott Lincke, director of wireless products of Palm, Inc. "With mobile Internet access to account data around-the-clock, plus this new transaction enhancement, Prudential offers a whole new world of personal finance management."
Prudential's new transaction functionality will not require existing users to download new applications onto their Palm handhelds. New clients can download the most up-to-date application at: www.prudential.com/palmdownload.
In addition to providing fast and simple access to personal and business information, the Palm VII series handhelds enable users to easily and securely obtain information from websites, conduct e-commerce transactions, and send two-way personal messages.
Prudential Retirement Services provides defined contribution and benefits services for public, private and non-profit organizations, with a combination of investment management expertise, state-of-the-art recordkeeping, and comprehensive investment education programs. With more than 70 years of experience in managing retirement plans, the company today manages more than $61 billion in defined contribution and guaranteed product assets for more than one million plan participants.
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