Prudential Financial, Inc. (NYSE: PRU) has debuted its Retirement Workbook, a newly designed personalized enrollment guide that delivers simplified, reader-friendly content for participants in defined contribution plans who are transitioning to Prudential Retirement or for new hires joining existing plans.
“It’s no secret that American workers are overwhelmed and need help understanding their workplace benefits,” said James Cornell, chief marketing officer, Prudential Retirement. “They welcome simple, easy-to-understand material that engages their interest, encourages plan participation and helps them understand their defined contribution plans and personal situation. We’ve enhanced the workbook with this in mind, creating a personalized enrollment and resource guide that generates enthusiasm for the plan even as it helps participants make appropriate choices for building a secure retirement.”
Uniquely structured by plan type for participants in 401(k); 403(b), 457, 401 (a) and Multi-employer plans, the format of the visually-oriented Retirement Workbook introduces participants to all aspects of their retirement plan, with a specific emphasis on the following features:
- Personalized, targeted information based on the options available in their plan;
- Retirement income projections to ease participants’ retirement planning decisions; and
- Support for ‘auto-plan solutions’ such as automatic enrollment, contribution accelerator and asset allocation tools, if these options are available as part of their plan.
The flexibility of the workbook also allows sponsors to create a custom look and feel, including tailored cover designs, and is available in Spanish upon request.
The workbook also drives readers to Prudential’s Online Retirement Center where they can access the award-winning Retirement Income Calculator, which allows participants to incorporate outside assets into their retirement planning calculations and review if they are on track toward a secure retirement.
Participants are encouraged to access Prudential Retirement’s education and planning website (PREP) to take advantage of a variety of financial tools, including articles, a list of frequently asked questions and interactive online courses like "How to Choose Investments" and "Understanding College Saving.”
“The Retirement Workbook clarifies the enrollment process for participants, which we believe will help enhance plan participation and lead to better retirement outcomes for an increased number of American workers. We are extremely excited about the benefits the workbook delivers to participants and to sponsors, at a reduced cost,” said Cornell.
Prudential Retirement, a business of Prudential Financial, Inc. (NYSE: PRU), delivers retirement plan solutions for public, private, and non-profit organizations. Services include state-of-the-art record keeping, administrative services, investment management, comprehensive employee investment education and communications, and trustee services. With nearly 85 years of retirement experience, Prudential Retirement helps meet the needs of over 3.4 million defined contribution participants and defined benefit participants and annuitants. Prudential Retirement has $159 billion in account values as of March 31, 2008.
Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $631 billion of assets under management as of March 31, 2008, has operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping approximately 50 million individual and institutional customers grow and protect their wealth. The company’s well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management, and real estate services. For more information, please visit http://www.news.prudential.com/.
Contacts:
Dawn Kelly, 973-802-7134
office/201-406-7248 cell
dawn.kelly@prudential.com
