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 25, 2017

Hardship withdrawals peak in August, operations data analysis reveals

In her 29-year career at Prudential Financial, Inc., Sue Unvarsky has learned the retirement business inside and out—Yet even she was surprised to discover how an internal analysis of transactional volumes revealed a cyclical threat to her customers’ financial futures.

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 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 20, 2017

Talent shortages present opportunities for U.S. hospitals, survey finds

In the next 10 years, the nation’s biggest healthcare crisis may be a serious shortage of specialists, generalist physicians, nurses and other clinicians that will hamper the ability of hospitals to deliver high-quality care.

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 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.