The State Deferred Compensation Plan Changes to a New Third Party Administrator
On July 29, 2013, the State of Hawai‘i Deferred Compensation Plan (also known as the Island $avings Plan) will be transferring to a new Third Party Administrator (“TPA”) — Prudential Retirement. As the new TPA, Prudential Retirement will provide the same types of services that are now being provided, such as conducting educational services and workshops, record keeping of Plan participant accounts, providing guidance and education for basic investment advice and managed accounts services, and assisting Plan participants with the Self-Directed Brokerage Account option.
Two informational brochures on the transition are available. A Transition Guide has been prepared for current participants in the Plan to explain the details of the transition. The other is for eligible employees who are not enrolled in the Plan but are interested in learning more about the Plan.
Join Prudential Retirement beginning in July for a series of on-site meetings to learn more about the upcoming transition of the Island $avings Plan along with helpful retirement planning education. If you are unable to attend a live meeting, consider one of the other options including live webinars, ‘Ōlelo TV broadcasts and on demand playback and the pre-recorded web presentation options. For more information and calendar of events, please visit www.prudential.com/islandsavings.