NEWARK, N.J.--(BUSINESS WIRE)--Prudential Retirement has joined the annual America Saves Week campaign, and is encouraging American workers to contribute just one percent more of their annual earnings toward retirement. Prudential Retirement is a business unit of Prudential Financial, Inc. (NYSE:PRU).
“Although we have more financial information, education and planning tools at our fingertips than ever before, many workers still struggle to save, especially for long-term financial goals like retirement,” said Christine Marcks, president of Prudential Retirement. “Part of the reason for this is because our brains are hardwired for short-term thinking. But we can outsmart our brains and save more for retirement by focusing on small, simple actions that build toward longer-term financial goals.”
For example, one positive step that can have a big impact on savings over time is setting aside just one percent more of annual income, said Marcks.
Marcks also recommends that workers block off one day to get all of their financial statements organized and to review their current savings plans and budgets. “Making time to review and recommit to your financial goals will make it easier to find additional ways to contribute toward retirement,” she said.
Established in 2007, America Saves Week is an annual week-long campaign coordinated by the America Savings Education Council and the Consumer Federation of America, during which more than 1,000 organizations across the U.S. work together to promote good savings behavior.
Prudential Retirement delivers retirement plan solutions for public, private, and nonprofit organizations. Services include defined contribution, defined benefit and non-qualified deferred compensation record keeping, administrative services, investment management, comprehensive employee education and communications, and trustee services, as well as a variety of products and strategies, including institutional investment and income products, pension risk transfer solutions and structured settlement services.
With over 85 years of retirement experience, Prudential Retirement helps meet the needs of 4.0 million participants and annuitants. Prudential Retirement has $368.9 billion in retirement account values as of December 31, 2015. Retirement products and services are provided by Prudential Retirement Insurance and Annuity Company (PRIAC), Hartford, CT, or its affiliates.
Retirement products and services are provided by Prudential Retirement Insurance and Annuity Company (PRIAC), Hartford, CT, or its affiliates. PRIAC is a Prudential Financial company.
Prudential Financial, Inc. (NYSE:PRU), a financial services leader, has operations in the United States, Asia, Europe, and Latin America.