Survey reveals younger employees interested in guarantees
Prudential Retirement, as part of National Save for Retirement Week, today announced the preliminary results of a poll on Americans' perceptions of workplace retirement plans. The poll was conducted on LinkedIn and can be found at the following address: www.linkedin.com.
Among the results – American workers aged 18-36 are more interested in having a guaranteed retirement income feature in their retirement savings plans than those 45 years of age and older. Overall, more than 50 percent of respondents were "very" interested in a guaranteed retirement income feature, while 23 percent were "somewhat" interested.
"We know that many Americans are struggling with substantial retirement income challenges today," said James McInnes, senior vice president of product management and development, Prudential Retirement. "These results signal that while many workers are frustrated with the recent market turmoil, they are viewing the markets with a long-term perspective and sticking with retirement planning strategies that involve a guaranteed retirement income feature."
The LinkedIn poll that Prudential Retirement, a business unit of Prudential Financial Inc., (NYSE: PRU) conducted about Americans' perceptions of workplace retirement plans were opened to LinkedIn members starting Sept. 9. National Save for Retirement Week is the first national Congressionally-endorsed event calling on employers to promote the benefits of saving for retirement and encourage their employees to take full advantage of employer-sponsored plans.
The LinkedIn poll also revealed 46 percent of Americans did not change their long-term retirement strategy due to uncertain market conditions. Twenty-five percent, however, said they moved to a "more conservative" strategy while 14 percent moved to a "more aggressive" strategy.
"This effort really speaks to how Prudential Retirement is using emerging technologies and social media to directly engage American workers," says Kara Segreto, chief marketing officer, Prudential Retirement. "Additionally, this survey data keeps us closely aligned with the wants and needs of retirement plan participants so that we can meet the challenge of creating retirement security for American workers."
More than 1.5M impressions of the poll have been served to-date and more than 1,400 American workers have responded. The survey is available on LinkedIn through Oct. 31. It was developed to identify potential challenges the general public perceives about retirement planning. The questions focus on the importance of guaranteed income, saving strategies against volatile markets, employees' satisfaction with their retirement plans and with their employer's commitment to helping them save for retirement.
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 3.6 million participants and annuitants. Prudential Retirement has $220.7 billion in retirement account values as of June 30, 2011.
Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $883 billion of assets under management as of June 30, 2011, 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, investment management, and real estate services. 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 http://www.news.prudential.com/.
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Contacts:
Prudential
Dawn Kelly
973-802-7134 office
201-406-7248
cell
dawn.kelly@prudential.com
or
Josh
Stoffregen
973-802-3996 office
973-204-2540 cell
josh.stoffregen@prudential.com
