Prudential Retirement joins the annual America Saves Week campaign to encourage more Americans to make a commitment to increase savings over their lifetime with the goal of accumulating sufficient income in retirement. Prudential Retirement is a business unit of Prudential Financial Inc. (NYSE:PRU). Established in 2007, America Saves Week is an annual week-long event coordinated by the America Savings Education Council and the Consumer Federation of America during which more than 2,000 organizations across the U.S. work together to promote good savings behavior. “It’s never too late to begin. The sooner you start contributing to your employer-sponsored retirement plan or IRA, the better your chances for building a significant savings cushion,” says Christine Marcks, president of Prudential Retirement. “Once you start saving, it becomes even easier to make small increases with your savings allocation. The impact is often barely noticeable in your paycheck, but could really make a big impact on your retirement savings over time.” For Americans who have not started saving, Marcks suggests other tips. Consider enrolling in your company’s retirement plan right away or open an IRA. Once enrolled, Marcks encourages people to manage risk by diversifying their savings over a well-chosen mix of investments. Americans should also check with their employer to see if there is an option in the plan that provides guaranteed income for life during retirement—essentially transforming your savings into a retirement income stream . According to the Center for Retirement Research at Boston College’s 2012 National Retirement Risk Index, the number of workers at risk of being unable to maintain their pre-retirement standard of living once they retire has risen over 20 percent from 44 percent in 2007 to 53 percent in 2010. There are several vehicles that Americans can use to save for retirement, including workplace retirement plans and personal investment and savings accounts. However in recent years, increasing longevity, market uncertainty and low interest rates have placed many Americans at risk of outliving their retirement income.
“Helping Americans achieve financial security in retirement is one of the most pressing issues facing our country today,” says Bob O’Donnell, president of Prudential Annuities. “Guaranteed lifetime income products can provide income certainty in retirement — supplementing Social Security and providing protection from market volatility, interest rate fluctuations and the financial risks posed by living longer.”While there are several strategies available to help build and increase retirement saving, many Americans are overwhelmed by the number of options available and may not fully understand how they work. “This is where a financial professional can become a valuable resource for some people,” says Caroline Feeney, president of Agency Distribution, Prudential’s national sales organization. “They can provide information and guidance on how to best manage retirement savings and investments to help clients better plan for their future.” To help Americans build savings and improve their individual retirement security prospects, Prudential Retirement is working with plan sponsors and advisors to provide relevant interactive educational tools to help Americans increase and better manage savings, reduce debt and make retirement planning a priority. Prudential Retirement 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 over 85 years of retirement experience, Prudential Retirement helps meet the needs of over 3.8 million participants and annuitants. Prudential Retirement has $322.9 billion in retirement account values as of December 31, 2013. Retirement products and services are provided by Prudential Retirement Insurance and Annuity Company (PRIAC), Hartford, CT, or its affiliates. Prudential Financial, Inc. (NYSE: PRU), a financial services leader with more than $1.1 trillion of assets under management as of December 31, 2013, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit www.news.prudential.com. A variable annuity is a long-term investment designed for retirement purposes. Investment returns and the principal value of an investment will fluctuate so that an investor’s units, when redeemed, may be worth more or less than the original investment. Withdrawals or surrenders may be subject to contingent deferred sales charges.
Annuity contracts contain exclusions, limitations, reductions of benefits and terms for keeping them in force. The optional benefits have certain investment, holding period, liquidity, and withdrawal limitations and restrictions. Optional living and death benefits may not be available in every state and may not be elected in conjunction with certain optional benefits. Please see the prospectus or ask your advisor for more informationAll references to income certainty and guarantees are backed by the claims-paying ability of the issuing company. Investors should consider the contract and the underlying portfolios' investment objectives, risks, charges and expenses carefully before investing. This and other important information is contained in the prospectus, which can be obtained on the prospectus page or from your financial professional. Please read the prospectus carefully before investing. Annuities are issued by Pruco Life Insurance Company (in New York, by Pruco Life Insurance Company of New Jersey), Newark, NJ and distributed by Prudential Annuities Distributors, Inc., Shelton, CT. All are Prudential Financial companies and each is solely responsible for its own financial condition and contractual obligations. Prudential Annuities is a business of Prudential Financial, Inc. 0257943-00001-00