Retirement
Los Angeles Lakers renew Prudential contract for $30M in retirement assets, continuing 25-year relationship
NEWARK, N.J., Nov. 12, 2019 – Prudential Retirement will continue its nearly 25-year-long relationship with the Los Angeles Lakers, the 16-time NBA Champion franchise team, as record keeper for its defined contribution retirement plan.
UA Local 22 Annuity Fund and Sendik’s Food Market choose Prudential to manage retirement plan assets
NEWARK, N.J., Oct. 9, 2019 – UA Local 22 Plumbers and Steamfitters Annuity Fund, and Sendik’s Food Market, a family-owned Milwaukee grocery chain, chose Prudential Retirement as record keeper for their defined contribution retirement plans.
Prudential Financial announces leadership succession for U.S. Businesses
NEWARK, N.J., August 29, 2019 - Prudential Financial, Inc. (NYSE:PRU) today announced that Andrew Sullivan will succeed Stephen Pelletier as executive vice president and head of U.S. Businesses, reporting to Chairman and CEO Charles Lowrey, effective December 1. Pelletier will retire following an extraordinary 27-year career with the company, in which he led Group Insurance and Prudential Annuities, and founded Prudential’s international asset management businesses, now PGIM Global Partners.
International Union of Operating Engineers selects Prudential for retirement solutions
NEWARK, N.J., June 20, 2019 – The International Union of Operating Engineers (IUOE) Local 132, a progressive trade union based in Huntington, West Virginia, representing heavy equipment operators and mechanics, as well as workers in building and industrial complexes and services throughout the United States and Canada, selected Prudential Retirement as its new retirement plan provider.
Prudential expands financial wellness capabilities to address Americans’ most pressing financial needs
NEWARK, N.J., April 11, 2019 - Prudential Financial, Inc. announced the introduction of a range of new financial wellness solutions to help address the most pressing financial challenges facing American consumers.
We’re average students, getting a “C” when it comes to understanding finances, Americans say
NEWARK, N.J., April 10, 2019 - More than half of Americans say they’d earn a “C” or lower when it comes to financial literacy, according to a new survey conducted by Harris Poll on behalf of Prudential Financial, Inc. (NYSE: PRU).
Lockheed Martin transfers $1.8 billion in pension obligations to Prudential Retirement
NEWARK, N.J., January 29, 2019 - Lockheed Martin Corporation (NYSE: LMT) has transferred approximately $1.8 billion of its pension obligations by purchasing a group annuity contract from The Prudential Insurance Company of America, a subsidiary of Prudential Financial, Inc. (NYSE: PRU). Approximately 32,000 of Lockheed Martin’s retirees will receive their monthly pension benefit payments from Prudential as part of this buy-out agreement.
Prudential backs federal support of expanding Americans’ access to retirement savings
President Trump today signed an executive order directing the Labor Department to promote programs that enhance retirement security and expand access to workplace retirement savings plans for American workers.
Emergency savings feature can help plan sponsors increase employees’ financial wellness, Prudential says
NEWARK, N.J., July 24, 2018 - Most Americans don’t have enough savings to cover unexpected expenses, tempting many to make the costly mistake of raiding their workplace retirement savings plans. Using after-tax contributions to an existing retirement plan to build savings that can be accessed to cover emergencies could help, according to Prudential Financial, Inc. (NYSE: PRU).
Working in retirement may be the new norm according to PGIM Investments study
NEWARK, N.J., July 10, 2018 - Few current retirees take a new job in their golden years—but more than half of future retirees expect to continue working during retirement, driven by uncertainty about Social Security and their own financial preparedness, a new study from PGIM Investments reveals.