Lord Abbett Expands Relationship with PCS Retirement

News provided by

Apr 12, 2023, 09:00 ET

Converting $500 million in retirement plan assets

PHILADELPHIA, April 12, 2023 /PRNewswire/ -- Lord Abbett has extended its partnership with PCS Retirement's Aspire platform by incorporating their entire suite of SIMPLE IRAs and 403(b) retirement accounts.

The February 2023 conversion totaled $500 million in assets, 3,000 plans, and 14,275 participants in SIMPLE IRAs and 403(b) plans. "We are excited about deepening our partnership with PCS Retirement, which will create greater opportunities for growth," said Stephen Dopp, Lord Abbett's national director of retirement. "After a successful conversion of Prime Plan retirement plans in 2017, we are thrilled to now include all SIMPLE IRAs, 403(b)s, and other retirement programs on their platform."

Pete Kirtland, PCS Retirement's executive vice president of strategic sales, expressed his appreciation for the continued partnership stating, "We are pleased to expand our long-standing partnership with Lord Abbett, as they entrust us with managing their entire suite of retirement plans. This deepened collaboration testifies to our mutual commitment to excellence and growth."

Lord Abbett's decision to expand its partnership with PCS Retirement cements its commitment to providing exceptional service for its retirement plan clients as well as an industry-leading platform for those saving for their future. The Aspire platform allows Lord Abbett to extend its distribution to the full suite of workplace savings. This conversion marks another milestone for PCS Retirement as it continues to enhance its customization expertise allowing mutual fund companies and other financial institutions to offer custom funds, fees, and distribution across all plan types.

About PCS Retirement

PCS Retirement is among the nation's largest independent and conflict-free retirement solution providers in the industry. PCS Retirement offers Recordkeeping services to over 20,000 plans and 850,000 eligible participants representing $26+ billion in retirement assets. PCS allows mutual fund companies, investment managers and other financial institutions to offer leading white label and branded retirement solutions for the complete spectrum of retirement plans and accounts. To learn more, visit https://www.pcsretirement.com/.

SOURCE PCS Retirement