How To Contact A Prudential Retirement Account Representative
Available 24 hours a day 7 days a week. . For requests that cannot be completed online, give us a call and well be happy to help you. Please contact your Plan Sponsor or Human Resources department for more information on eligibility Please call your Prudential Retirement representative. Not a client yet? Contact us at 1-800-353-2847
Who Is The Prudential Retirement Insurance And Annuity Company
Prudential, the Prudential logo, and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide. Retirement products and services are provided by Prudential Retirement Insurance and Annuity Company, Hartford, CT, or its affiliates .
Were You Automatically Enrolled
If so, you may need to establish a beneficiary for your retirement account. A beneficiary is the person or persons who would receive the money remaining in your plan account if you die. Naming a beneficiary is an importantbut often neglectedpart of sound financial planning.
Log in to establish or confirm your beneficiary.
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Your Futurein Your Pocket
Apple and iPhone are trademarks of Apple Inc., registered in the U.S. and in other countries. App Store is a service mark of Apple Inc. Android and Google Play are trademarks of Google Inc. Retirement products and services are provided by Prudential Retirement Insurance and Annuity Company , Hartford, CT, or its affiliates. PRIAC is solely responsible for its financial condition and contractual obligations.
Us Military Life Insurance Lawsuit
In 2010, various media outlets noted allegations that the Prudential Life Insurance Company was manipulating the payout of life insurance benefits due to the families of American soldiers in order to gain extra profits. The company provided life insurance to people in the armed forces under a government contract. Rather than paying the full amount due to the families at once, the company would instead deposit the funds into a Prudential corporate account. These accounts are referred to as ‘retained asset accounts’ and are essentially an I.O.U. from the company to the payee . While Prudential was making profits of up to 4.2% in its general account in early 2010, they paid out 0.5% interest in these non-FDIC insured “Alliance” accounts. In some cases, when families requested to be sent a full payout in the form of a check, the family was sent a checkbook, rather than the amount due.
It is not clear if the practice was in violation of law or the contract. In August 2010, the company was sued by a number of the bereaved families. The company’s response included an open letter to the military community in which it addressed what it characterized as “misinformation” about the nature of the accounts.Military Times noted that prior lawsuits against insurance companies pertaining to the use of retained asset accounts have been dismissed in federal courts without action.
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Save Paper Save Timee
Receive your statements and other account documents electronically, using our safe, secure E-Delivery service. Simply log in to select this option.
The target-date is the approximate date when investors plan to retire and may begin withdrawing their money. The asset allocation of the target-date funds will become more conservative as the target-date approaches by lessening your equity exposure and increasing your exposure in fixed income investments. The principal value of an investment in a target-date fund is not guaranteed at any time, including the target-date. There is no guarantee that the fund will provide adequate retirement income.
A target-date fund should not be selected solely based on age or retirement date. Before investing, participants should carefully consider the fund’s investment objectives, risks, charges and expenses, as well as their age, anticipated retirement date, risk tolerance, other investments owned, and planned withdrawals.
The stated asset allocation may be subject to change. It is possible to lose money in a target-date fund, including losses near and following retirement. Investments in the funds are not deposits or obligations of any bank and are not insured or guaranteed by any governmental agency or instrumentality.
Cautionary Note Regarding Forward
This release may contain forward-looking information. Forward-looking information includes statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as will, may, “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates, objective, target, potential and other similar expressions or negative versions thereof. These statements include, without limitation, statements about: the U.S. retirement industry the timing , cost and expected benefits and performance , expected earnings per share accretion, expected impact on objective or consensus earnings and run rate earnings, as well as the timing thereof in each case, of the acquisition of the retirement services business of Prudential and sources, amounts and timing of funding therefor future expenses and revenues expected earnings contribution of Prudential and Empower , increased scale and capabilities of Empower, value creation, and other statements concerning Lifeco, Empowers and the retirement services business of Prudential operations, business, financial condition, expected financial performance, ongoing business strategies or prospects and possible future actions.
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Retirement Planning Supportfinding Information You Can Trust
Get access to services and online resources designed to provide you with personalized help as you plan for retirement.
Prudential Financial is not responsible for the information contained in the external website and makes no representations about information contained therein. The site is/are provided to you for informational purposes only.
We Want To Help You Build A Solid Financial Future
Providing you with a tax-advantage retirement savings vehicle is an important part of helping you build a solid financial future. That’s why we provide a deferred salary plan. And, while you’re automatically enrolled, you’ll only achieve your retirement savings goals if you’re actively engaged in the retirement planning process. That includes knowing the ins and outs of your plan and how to make it work for you.
You can easily access your account information at any time. Simply register and youre on your way.
The plan highlights is a useful resource. It provides information on contributions, vesting, distribution options and more.
There are three ways to save for members covered under the following collective bargaining agreements:
- NYC Construction
- Elevator Division
- Westchester/Fairfield
Find out which kind of contribution is right for you: traditional pre-tax contributions Roth after-tax contributions or a combination of both.
Effective, November 1, 2020 the DSP offers a Roth in-Plan Rollover feature which allows eligible participants to convert pre-tax dollars into Roth dollars within the Plan. Learn more about this feature and whether or not it might be appropriate for you.
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Ratings Awards And The Prudential Foundation
Prudential has received a 100% rating on the Corporate Equality Index released by the Human Rights Campaign every year since 2003, the second year of the report. In addition, the company is in the “Hall of Fame” of Working Mothers magazine among other companies that have made their “100 Best Companies for Working Mothers” list for 15 or more years. It is still achieving that list, as of 2013. According to Business Week’s The Best Places to Launch a Career 2008, Prudential Insurance was ranked #59 out of 119 companies on the list. In 2007, The Prudential Foundation provided over $450,000 in Prudential CARES Volunteer Grants to 444 nonprofit organizations worldwide. The Prudential CARES Volunteer Grants Program recognizes individual and team volunteers based on a minimum of 40 hours of volunteer service per individual. Grants range from $250 to $5,000 for each award winner’s charitable organization. Prudential ranked #69 on the 2017 Forbes Worldâs Biggest Public Companies list, calling out their $45.6 billion market value. Prudential ranked No. 52 in the 2018 Fortune 500 list of the largest United States corporations by total revenue. As of 2019, Prudential is the largest insurance provider in the United States with $815.1 billion in total assets.
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View account details, customized planning tools, and more.
Retirement Counselors are registered representatives of Prudential Investment Management Services LLC , Newark, NJ, a Prudential Financial company.
This material is intended to provide information only. This material is not intended as advice or recommendation about investing or managing your retirement savings. By sharing this information, Prudential Retirement® is not acting as your fiduciary as defined by the Department of Labor or otherwise. If you need investment advice, please consult with a qualified professional.
Retirement products and services are provided by Prudential Retirement Insurance and Annuity Company , Hartford, CT, or its affiliates. PRIAC is a Prudential Financial company. Prudential Retirement is a Prudential Financial business.
Retirement Counselors are registered representatives of Prudential Investment Management Services LLC , Newark, NJ, a Prudential Financial company.
* Registered Mutual FundsAll investing involves various risks including the possible loss of principal. You can lose money by investing in securities.
A target date fund should not be selected based solely on age or retirement date. Participants should carefully consider the investment objectives, risks, charges and expenses of any Fund before investing. Funds are not guaranteed investments and the stated asset allocation may be subject to change. It is possible to lose money by investing in securities.
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Welcome To Prudential Retirement
Few things are more important than saving for your financial future. Your retirement plan makes it easier by offering you a simple, convenient and consistent way to help save for retirement.
Access your account, review your beneficiary election and learn about resources and tools that can help with planning.
Learn about your plans features and funds, find access to resources and tools that can help with planning, and discover solutions to challenges many of us face when saving for retirement.
Register or log in to view your account online.
Thinking about consolidating? Contact the Prudential Rollover Team at 800-249-2430. Representatives are available from 9 a.m. – 5 p.m.
Welcome To The Mta Deferred Compensation Program
Few things are more important than saving for your financial future. Your retirement plan makes it easier by offering you a simple, convenient and consistent way to help save for retirement.
Learn about your plans features and funds, find access to resources and tools that can help with planning, and discover solutions to challenges many of us face when saving for retirement.
Register or log in to view your account online.
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Am Best Places Credit Ratings Of Prudential Retirement Insurance And Annuity Company Under Review With Positive Implications
OLDWICK, N.J., July 22, 2021—-AM Best has placed under review with positive implications the Financial Strength Rating of A+ and the Long-Term Issuer Credit Rating of “aa-” of Prudential Retirement Insurance and Annuity Company , headquartered in Newark, NJ.
PRIACs Credit Ratings were placed under review with positive implications following the announcement that Empower Retirement and Prudential Financial, Inc. have entered into a definitive agreement for Empower Retirement to acquire Prudentials full-service retirement business including PRIAC. Prudentials full-service retirement recordkeeping business comprises more than 4,300 workplace savings plans, through which approximately four million plan participants have saved $314 billion in assets. It also includes more than 1,800 employees, retirement recordkeeping and administration services to financial professionals, plan sponsors and participants.
The positive implications reflect AM Bests expectation that PRIAC will benefit from the financial strength of Empower Retirements ultimate parent, Great-West Lifeco Inc., as it becomes integrated into its existing retirement business. The transaction is expected to close during the first quarter of 2022.
The ratings will remain under review until the transaction closes, all customary regulatory approvals are received and AM Best evaluates PRIACs role in the Empower organization.
Contacts
Mta Deferred Compensation Program
Retirement Education Counselors are registered representatives of Prudential Investment Management Services LLC , Newark, NJ, a Prudential Financial company.
This material is intended to provide information only. This material is not intended as advice or recommendation about investing or managing your retirement savings. By sharing this information, Prudential Retirement® is not acting as your fiduciary as defined by the Department of Labor or otherwise. If you need investment advice, please consult with a qualified professional.
Retirement products and services are provided by Prudential Retirement Insurance and Annuity Company , Hartford, CT or its affiliates. PRIAC is a Prudential Financial company. Prudential Retirement is a Prudential Financial business.
Retirement Education Counselors are registered representatives of Prudential Investment Management Services LLC , Newark, NJ, a Prudential Financial company.
* Registered Mutual FundsAll investing involves various risks including the possible loss of principal. You can lose money by investing in securities.
A target date fund should not be selected based solely on age or retirement date. Participants should carefully consider the investment objectives, risks, charges and expenses of any Fund before investing. Funds are not guaranteed investments and the stated asset allocation may be subject to change. It is possible to lose money by investing in securities.
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Class Action Lawsuit Over Sales Practices
In 1997, Prudential settled a class action lawsuit by millions of its customers who had been sold unnecessary life insurance by Prudential agents over a 13-year period ending in 1995. The settlement called for Prudential to repay an estimated $2 billion to customers through direct refunds and enhancements to existing policies. The settlement had been the subject of extensive negotiations involving not only Prudential and its customers, but also insurance regulators in 30 states. Prudential had agreed in early 1997 to pay a fine of $35 million to settle state allegations of deceptive sales practices. Prudential acknowledged that for more than a decade its agents had improperly persuaded customers to cash in old policies and purchase new ones so that the agents could generate additional sales commissions.
Empower Retirement To Acquire Full
- Expands Empowers reach across retirement services market to more than 16.6 million individuals and $1.4 trillion in AUA
- Empower poised to deliver broad set of solutions and capabilities to new and existing clients strengthen investments across its existing suite of offerings
- Advances Prudentials transformation and enterprise growth strategy
GREENWOOD VILLAGE, Colo. and NEWARK, NJ, July 21, 2021 Empower Retirement and Prudential Financial, Inc. today announced they have entered into a definitive agreement for Empower to acquire Prudentials full-service retirement business. The acquisition will add significant expertise, a broader set of capabilities and an expanded product portfolio to Empowers existing business and drive additional scale to the benefit of retirement investors and employers who sponsor workplace savings plans.
Subject to regulatory approvals, Empower will acquire Prudentials full-service retirement plan recordkeeping and administration business for a total transaction value of $3.55 billion1. The business will be supported by $2.1 billion of capital through a combination of the balance sheet of the transferred business and Empower capital and surplus.
At closing, Empower will acquire Prudentials defined contribution, defined benefit, non-qualified and rollover IRA business in addition to its stable value and separate account investment products and platforms.
About Empower Retirement
About Prudential
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Cautionary Note Regarding Non
This release contains some non-IFRS financial measures. Terms by which non-IFRS financial measures are identified include, but are not limited to, assets under administration, “base earnings “, “base return on equity , and “return on equity “. Non-IFRS financial measures are used to provide management and investors with additional measures of performance to help assess results, where no comparable IFRS measure exists. However, non-IFRS financial measures do not have standard meanings prescribed by IFRS and are not directly comparable to similar measures used by other companies. Refer to the “Non-IFRS Financial Measures” section in Lifeco’s 2020 Annual MD& A for the appropriate reconciliations of Lifeco’s non-IFRS financial measures to measures prescribed by IFRS, where applicable, as well as additional details on each measure.
1 Assets under administration is a non-IFRS financial measure see the discussion of this measure in the Companys 2020 Annual MD& A.
2 Based on unlevered earnings of Prudentials full-service retirement business less financing costs and foregone investment income, which is converted to Canadian dollars at an exchange rate of 1.25.
6 Pensions & Investments2021 Defined Contribution Survey Ranking as of April 2021.
