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).

May 16, 2017

Prudential doubles down on financial wellness; offers new tools to unlock “The Wellness Effect”

NEWARK, N.J., May 16, 2017 - Prudential Financial, Inc. (NYSE: PRU) has deepened its commitment to the financial wellness of American families. The company announced a three-year $5 million partnership with the Aspen Institute to advance solutions that increase financial security for all American workers, and armed employers with new tools and resources to help them to understand and improve the financial health of their workforce.

May 12, 2017

Beware the health care costs of living longer

Rethinking our ideas behind how—and how much—we need to save for health care in retirement is the main concern of Retirement Planning: Coping with Higher Health Care Costs,” recently published in the Journal of Financial Service Professionals, authored by Prudential’s Brett Berg, an Individual Life Insurance vice president focused on advanced markets, and Dr. Robert Pokorski, vice president and medical director and an internationally renowned expert on longevity.  As advances in nutrition, medicine, and healthy living have extended our average lifespans, a new problem has metastasized—we are outliving the assets we put aside to pay for geriatric and end-of-life care.

May 08, 2017

Prudential names Phil Waldeck president and CEO of Prudential Retirement

NEWARK, N.J., May 8, 2017 - Prudential Financial, Inc. (NYSE: PRU), announced that Phil Waldeck has been named President and Chief Executive Officer of Prudential Retirement, a division of Prudential Financial, Inc., effective June 5. He succeeds Christine Marcks, who has informed the company of her decision to retire after more than 13 years of distinguished service, 10 of which were in the role of President and CEO.
March 22, 2017

A cautionary retirement tale

More than two in five Americans inaccurately assess their retirement preparedness, perhaps worrying more than they need to, or not being concerned enough about how much money they’ve saved, according to the Center for Retirement Research at Boston College’s latest National Retirement Risk Index research, sponsored by Prudential.

March 09, 2017

Prudential Retirement, Rothesay Life strike $1.2 billion longevity reinsurance agreement in sixth transaction

NEWARK, N.J., March 9, 2017 Prudential Retirement, a unit of Prudential Financial, Inc. (NYSE: PRU), and Rothesay Life Plc, today reaffirmed their growing partnership by agreeing to their sixth longevity reinsurance transaction since 2011. In the agreement, Prudential assumes the longevity risk for $1.2 billion (about £960 million) in pension liabilities, covering approximately 22,500 pensioners across eight pension plans.

March 01, 2017

Christine Marcks: Small steps build financial confidence

For too many American workers, financial stress can be a daily occurrence--taking a toll on health, productivity and confidence. Not helping matters is the human tendency to focus on short term needs and wants over long term financial goals, such as saving for retirement. 

February 28, 2017

Three organizations hire Prudential Retirement to manage $132 million in DC plan assets

NEWARK, N.J., Feb. 28, 2017 - Three organizations, including two nonprofits, have recently hired Prudential Retirement to administer their defined contribution plans, the company announced today. Prudential Retirement, among the industry’s largest recordkeepers, is a business unit of Prudential Financial, Inc. (NYSE:PRU).
February 27, 2017

Prudential Retirement calls on Americans to balance financial priorities for America Saves Week

NEWARK, N.J., Feb. 27, 2017 - Achieving personal savings goals has never been more important than developing a balanced plan for managing financial wellness. In conjunction with 2017’s America Saves Week campaign held Feb. 27 through March 4, Prudential Retirement is encouraging American workers to save more money while balancing multiple financial priorities. Prudential Retirement is a business unit of Prudential Financial, Inc. (NYSE:PRU).