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.
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.
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.
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.
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).
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.
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.
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).