Media Contact:

Retirement
Josh Stoffregen / 973-802-3996 / josh.stoffregen@prudential.com

September 14, 2017

MMC UK Pension Fund, advised by Mercer, selects Prudential and Canada Life Reinsurance to reinsure the longevity risk of £3.4 Billion ($4.3 billion) in pension liabilities

The Trustee of the MMC UK Pension Fund (the “Fund”) has announced the largest longevity risk transfer for a UK pension fund since 2014. The transaction, which reinsures the longevity risk of £3.4 billion ($4.3 billion) in pension liabilities, will provide long-term protection and income to the Fund in the event that the covered participants live longer than expected. It also lowers the risk that Marsh & McLennan Companies will face unexpected pension contributions due to an increase in pensioner life expectancy.

August 30, 2017

Gig economy may threaten financial wellness of contract workers, Prudential survey shows

NEWARK, N.J., Aug. 30, 2017 - The gig economy — the increasingly popular employment model where people work as independent contractors rather than employees of companies — has a destabilizing effect on personal financial security, a Prudential Financial, Inc. (NYSE: PRU) survey shows.

August 15, 2017

Finance chiefs’ pension risk transfer motivations revealed in new research

NEWARK, N.J., Aug. 15, 2017 - The increasing costs and volatility of managing defined benefit pension plans have long been at the center of the motivations for transferring a company’s pension risk to an insurer. But which costs and what kinds of volatility are finance chiefs most concerned about? A new survey involving 80 senior finance executives at companies with traditional pensions sheds light on the motivations behind pension risk transfer decisions in the executive suite. 

July 24, 2017

Prudential Retirement names new leaders to oversee Full Service and Sales

NEWARK, N.J., July 24, 2017 - Prudential Retirement has named Harry Dalessio head of its Full Service Solutions group, which provides defined contribution, defined benefit and non-qualified retirement plan solutions to public, private and nonprofit organizations.
July 20, 2017

Prudential places customers at its structural core; announces new leadership architecture for U.S. businesses

NEWARK, N.J., July 20, 2017 - Prudential Financial, Inc. (NYSE:PRU) today announced a new organizational structure for its U.S. businesses that extends its customer reach and facilitates pathways to new markets. The structure better reflects the company’s strategic focus on leveraging its mix of businesses and its digital and customer engagement capabilities to expand its value proposition for the benefit of customers and stakeholders.

June 26, 2017

The Hartford entrusts Prudential with $1.6 billion in pension obligations for 16,000 former U.S. employees

NEWARK, N.J., June 26, 2017 - The Hartford has agreed to settle $1.6 billion of its pension obligations by purchasing a group annuity contract from The Prudential Insurance Company of America, the company announced today. The agreement transfers responsibility for paying the pension benefits of approximately 16,000 of The Hartford’s retirees and former U.S. employees, as well as their beneficiaries. The transaction represents approximately 29 percent of The Hartford’s pension obligations.

June 22, 2017

Prudential: public service employee pensions only a step to retirement security, survey says

NEWARK, N.J., June 22, 2017 - Despite a persistent belief that public employees such as teachers, police and firefighters will be taken care of in retirement thanks to the pension plans of old, a survey sponsored by Prudential Retirement shows that today’s shifting political and economic landscape may have left them and their employers on shaky ground.

June 13, 2017

Working women may be facing a retirement income crisis

An in-depth look at the retirement account balances of men and women by Prudential Retirement reveals an alarming disparity: Even as the fight for equal pay has helped shrink the gender wage gap, retirement savings of working women have fallen far behind men, putting them at great risk of outliving their hard-won earnings.

June 05, 2017

Prudential Retirement wins N.Y. Union Plan; oversees $5.7 billion in retirement assets

NEWARK, N.J., June 5, 2017 - The Joint Industry Board (JIB), a New York-based labor/management organization serving the International Brotherhood of Electrical Workers (IBEW) Local Union No. 3 members and their employers since 1943, selected Prudential Retirement to be the recordkeeper for its Deferred Salary Plan, or 401(k) plan. Prudential Retirement, among the industry’s largest recordkeepers and leading provider of Taft-Hartley retirement plan solutions, is a business unit of Prudential Financial, Inc. (NYSE: PRU).
May 25, 2017

Prudential: Guaranteed lifetime income options in 401(k)s helps bring financial security closer to employees, helps reduce costs for employers

NEWARK, N.J., May 25, 2017 - Guaranteed income solutions can help bring financial security within reach of employees, helping to reduce the amount they would need to save by as much as 36 percent, according to Prudential Financial1. And a new paper from Prudential Retirement says employers can also benefit through improved workforce management and reduced workforce costs. Prudential Retirement is a business of Prudential Financial, Inc. (NYSE: PRU).