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Prudential Financial Describes QDIA Rules, Includes Link to 'Decision Tree' (PDF)

6 pages; see last page for link to a handy 2-page 'decision tree' document. Excerpt: Plan sponsors should review these rules to determine whether a change to the plan's default investment is prudent. Plan sponsors are not required to comply with these rules, but may choose to comply to receive the additional fiduciary protection offered by the safe harbor.... Prudential Retirement has developed a QDIA Decision Tree to assist you with this decision-making process.

Verizon Moves $7.5 Billion in Pension Assets to Prudential Annuity Contract

"Verizon Communications Inc. is transferring about $7.5 billion in pension obligations, or one- fourth of the total, to Prudential Financial Inc. in a drive to remove risk from its balance sheet.... The Verizon transaction is expected to be the second- largest insured annuity settlement in U.S. history, trailing only the GM deal[.]"

Firm Buys Prudential Policy to Hedge Pension Risks

In what is described as the first arrangement of its kind, a North Carolina-based manufacturing company has used pension plan assets to purchase what is known as a 'portfolio protected buy-in' policy that transfers investment and longevity risk to a Prudential Financial Inc. unit.

Summary of Prudential Retirement's Publications on the Pension Protection Act of 2006 (PDF)

25 pages. Excerpt: The purpose of this document is to provide a reference tool with respect to both the official guidance provided by federal regulatory agencies regarding the provisions of the Pension Protection Act of 2006 (PPA) and Prudential Retirement's publications discussing that guidance.

The Principal 10 Best Companies for Employee Financial Security – 2007 Winners

Excerpt: On September 17, 2007, The Principal Financial Group® announced the 2007 winners of The Principal® 10 Best Companies for Employee Financial Security. The independent panel of judges -- all experts in employee benefits -- praised the winners for their consistent, holistic approach to providing a broad range of benefits. Judges also noted increased trends toward wellness initiatives, face-to-face benefits and financial guidance at the worksite and continued commitment to auto savings tools.

Financial Experience and Behaviors Among Women (PDF)

"Both younger women and baby-boomer women are 'not prepared' for retirement. Women under 35 have well-defined goals for their financial future. Although they frequently identify themselves as investment beginners and are less likely to say they feel very well prepared to make wise financial decisions than female baby boomers, they are the most likely to see financial decision making as their own responsibility, and they feel empowered to participate in or make decisions on their own. They also show a strong interest in receiving financial advice. Yet, they are not far from baby-boomer women in their perceptions about retirement readiness, with both groups saying they are way behind or haven't started planning for retirement."

Senate HELP Subcommittee Hearing on Financial Literacy: The Starting Point for a Secure Retirement

Video of the August 21 hearing, with written testimony of witnesses: [1] Jovita Carranza, U.S. Department of the Treasury; [2] Vishal Jain, Prudential Financial, Inc.; [3] Lynn Dudley, American Benefits Council; and [4] Scott B. Astrada, Center for Responsible Lending.

CFO Survey Shows Trends in Managing Financial Risks of Retirement and Benefits Programs (PDF)

"[Financial executives] show a growing awareness of, and interest in, DB plan liability transfer solutions, as well as increased interest in liability-driven investment (LDI) strategies for their DB plan portfolios.... Many ... perceive a trend toward employees extending their careers beyond historical retirement ages.... Controlling the employer's cost for company-provided healthcare benefits remains the number-one benefits priority[.]"

DOL Reaches Settlement with Prudential Insurance Company of America to Revise Life Insurance Practices That Denied Claims

"The [DOL] announced a settlement with the Prudential Insurance Company of America ... that will require the financial giant to revise its practices after a federal investigation found the ... company collected life insurance premiums from participants for extended periods, but then denied numerous claims after the participants died, citing the participants' failure to provide evidence of insurability when they applied for insurance."

Study of Employee Benefits: 2007 and Beyond (PDF)

52 pages. Excerpt: [From Business Wire] As companies grapple with competing objectives--managing benefits costs while attracting and retaining skilled talent--the link between employee benefits strategies and business and financial goals is expected to increase by 2012, according to ... a new report ... by Prudential Financial, Inc.... that explores current and future employee needs and how employers plan to respond to those needs. The report highlights employers' need to improve the perceived value of the benefits[.]