Prudential Insaurance Co. Of America
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Worker suit over Verizon retirement plan handoff now a class action
A federal judge last week granted class status to a suit filed by a pair of former Verizon Communications Inc. workers against their employer after the telecom giant transferred pension obligations to Prudential Financial Inc. Chief Judge Sidney A. Fitzwater of the U.S. District Court for the
Pru retail brokerage settles charges over mutual fund pricing
Unit to pay nearly $11M to close Finra action; B-D platform allegedly failed to place orders in a timely fashion
'Slap' to reps as Jackson National cuts VA features on short notice
Reps are none too thrilled with Jackson National's cuts to some VA features, particularly since the carrier offered only a few days' notice before the changes take effect. Said one harried adviser: "It's offensive."
Advisers irked as Pru locks vintage VAs
Prudential Financial Inc.'s decision to cut off contributions into a slate of older variable annuities with attractive benefits has raised the ire of financial advisers, this time because they were given so little time to add money to the contracts.
Pru pulls plug on another long-term-care product
Bows out of group LTC insurance; halted sales of individual coverage in March
A shift to retirement readiness occurring in 401(k) plans
So your clients think they are going to work longer and retire later? Maybe not.
GM follows in Ford's tracks, offers lump sum to retirees
Apparently, as Ford Motor goes, so goes GM.General Motors Co. on Friday announced plans to cut its pension obligation by $26 billion by offering lump-sum payments to about 42,000 white-collar retirees. The nation's largest automaker is also shifting the balance of its plan to Prudential Insurance
Prudential to bail on sales of individual long-term care
Prudential will stop selling long-term care policies citing 'challenging economics.'
Pru will pay $17M to settle with seven states over death benefits
Prudential Financial Will pay $17 million to settle with seven states; regulators claim insurer used more comprehensive database for cutting off annuity payments than one used to locate those owed money.
Analysts wave off $1.57B death benefit suit against Met, Pru
Illinois lawsuit alleges MetLife and Prudential owe some $524M in unclaimed death benefits
Prudential settles with 20 states over unclaimed death benefits
Agreement requires insurer to step up cross referencing to locate unpaid beneficiaries
Analysts reduce earnings outlook for life insurers
Although analysts are trimming third-quarter-earnings estimates for many life insurers, most remain upbeat about the long-term prospects for the sector
Insurers using nimble approach to shield VA holders' assets
The recent bout of stock market volatility is putting a new variable annuity investment strategy to the test. So-called tactical-asset-allocation programs, which aim to limit volatility by moving in and out of fixed income as the stock market fluctuates, are a fairly new development in the world of
MetLife says 30 jurisdictions are auditing unpaid benefits
State regulators are intensifying a probe into unpaid benefits after Florida Insurance Commissioner Kevin McCarty said in May that insurers may be keeping at least $1 billion in unclaimed funds.
Workers more likely to retire after strong market performance
Workers are more likely to retire after a period of strong equity returns, but they may be leaving the workplace at a time when their nest eggs are at the most risk.
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February 27, 2014