SUBSCRIBE TO TMCnet
TMCnet - World's Largest Communications and Technology Community

TMC NEWS

TMCNET eNEWSLETTER SIGNUP

Prudential combats national debt crisis through new financial wellness offering
[February 13, 2020]

Prudential combats national debt crisis through new financial wellness offering


Recognizing the negative impact of household debt on long-term financial security and retirement readiness, Prudential1 (NYSE:PRU) is partnering with national nonprofit GreenPath Financial Wellness to introduce debt management advice and tools to its growing suite of workplace financial wellness solutions.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200213005574/en/

Vishal Jain, Head of Financial Wellness Strategy and Development, Prudential Financial (Photo: Business Wire)

Vishal Jain, Head of Financial Wellness Strategy and Development, Prudential Financial (Photo: Business Wire)

As household debt continues to reach new heights, rising to $14.15 trillion in the fourth quarter of 2019 from $13.54 trillion in the third quarter of 2018, Prudential is continually looking to offer solutions such as emergency savings and student loan assistance tools to workplace clients to help employees and association members manage their finances.

"It's difficult to save for emergencies and invest in retirement when you feel crippled by debt. Debt also contributes to financial stress and negatively impacts workforce productivity," said Vishal Jain, head of financial wellness strategy and development at Prudential Financial. "Helping individuals minimize the impact of debt is an important expansion of our financial wellness efforts, and we are excited to work with an organization like GreenPath which shares our passion for solving financial challenges."

GreenPath offers a free session with a certified financial counselor to establish goals and explore debt repayment options. For a fee, employees or members who participate can also choose to enroll in a formal debt management plan designed to pay off outstanding balances in ive years or less.



Nine organizations, including Prudential, have committed to the service, which continues to draw interest. It will be available to all institutional employers in the second half of 2020.

"Navigating debt and finances can be confusing and stressful. We are thrilled to partner with a like-minded leader in workplace financial wellness to reach more people with our proven tools to reduce debt and financial stress," said Kristen Holt, president and CEO of GreenPath.


Prudential offers a broad suite of workplace financial wellness offerings, including solutions designed to help individuals plan for unexpected expenses and better manage debt. Its in-plan emergency savings tool uses after-tax contributions to build savings for unexpected expenses, creating a convenient way to save for both retirement and short-term needs. Its student loan assistance platform, an online resource offered by Vault2, allows employees to explore student loan consolidation and repayment options and provides a channel for employers to make repayment contributions.

To learn more about Prudential's workplace financial wellness offerings, please visit www.prudential.com/employers/financial-wellness.

About Prudential Financial, Inc.

Prudential Financial, Inc. (NYSE:PRU), a financial wellness leader and premier active global investment manager with more than $1.5 trillion in assets under management as of December 31, 2019, has operations in the United States, Asia, Europe, and Latin America. Prudential's diverse and talented employees help to make lives better by creating financial opportunity for more people. Prudential's iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit news.prudential.com.

About GreenPath Financial Wellness

GreenPath Financial Wellness is a national nonprofit organization that provides financial counseling, education and products to empower people to lead financially healthy lives. Working directly with individuals and through partnerships since 1961, GreenPath has assisted millions of people with debt and credit management, homeownership education and foreclosure prevention. Headquartered in Michigan, GreenPath, along with its affiliates, has more than 50 locations across the United States. GreenPath is a member of the National Foundation for Credit Counseling (NFCC) and is accredited by the Council on Accreditation (COA). To learn more about GreenPath, visit www.greenpath.org or call 866-648-8122. To hear real stories from real people about their financial wellness journey and what is possible through this partnership, listen to this podcast https://www.greenpath.com/realstories/.

1030983-00001-00

_____________________________
1
Access to GreenPath debt management services and Vault student loan assistance services is provided through Prudential Workplace Solutions Group Services, LLC ("PWSGS"). PWSGS is a subsidiary of Prudential Financial, Inc. PWSGS is not a licensed insurance company, does not provide insurance products or services, and does not provide investment or other advice.
2 The student loan assistance services are provided by Student Loan Benefits, Inc., doing business as Vault. Vault is a third-party provider that is independent from Prudential and its subsidiaries. Student loan assistance services are provided through a voluntary, individually selected program that is not a group insurance product and is not part of any employee benefit plan.


[ Back To TMCnet.com's Homepage ]









Technology Marketing Corporation

2 Trap Falls Road Suite 106, Shelton, CT 06484 USA
Ph: +1-203-852-6800, 800-243-6002

General comments: tmc@tmcnet.com.
Comments about this site: webmaster@tmcnet.com.

STAY CURRENT YOUR WAY

© 2020 Technology Marketing Corporation. All rights reserved | Privacy Policy