Michael Miller, head of PGIM DC Solutions, added, “We see the PGIM RetireWell Confidence Index as a value-add for employers who want a better understanding of how American workers are thinking and feeling about retirement and their finances in general. Our goal is to offer this wellness assessment more broadly, so that we can provide companies with plan-level insights to improve financial wellness over time.”
The PGIM RetireWell Confidence Index is part of PGIM RetireWellTM Solutions, a suite of tools, products and solutions developed to help defined contribution plan participants achieve better retirement outcomes through holistic advice and guidance.
About the PGIM RetireWellTM Confidence Index
The PGIM RetireWellTM Confidence Index is a comprehensive wellness sentiment index based on more than 300,000 completed responses to a financial wellness assessment survey offered by Prudential Financial, Inc. through a group insurance benefits platform or through a defined contribution plan since 2018. The index, updated on a quarterly basis, considers both financial confidence and retirement confidence to develop the overall index score. Please see the methodology overview for more detail.
ABOUT PGIM DC SOLUTIONS
As the retirement solutions provider of PGIM, PGIM DC Solutions seeks to deliver innovative defined contribution solutions founded on market leading research and capabilities. Our highly experienced team partners with clients on customized solutions to solve for retirement income. As of Sept. 30, 2023, PGIM has $164 billion in DC assets under management.
ABOUT PGIM
PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU), is a leading global investment manager with more than $1.2 trillion in assets under management as of Sept. 30, 2023. With offices in 18 countries, PGIM’s businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including public fixed income, private fixed income, fundamental equity, quantitative equity, real estate and alternatives. For more information about PGIM, visit pgim.com.
Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information, please visit news.prudential.com.
1 The term PGIM as used in this announcement includes PGIM DC Solutions LLC.
The PGIM RetireWell™ Confidence Index is not an investable index. While the Index was launched as of Q2 2023, PGIM DC Solutions used historical data to calculate prior Confidence Index levels.
The index is based on over 300,000 completed financial wellness assessments offered by Prudential Financial, Inc. for American workers who typically have access to a defined contribution plan. The Index controls for the demographic factors related to confidence, such as age, income, gender, and marital status, and provides context as to how sentiment has evolved over time. There are six potential confidence levels, which are (from best to worst): Very High, High, Above Average, Below Average, Low, and Very Low.
All investments involve risk, including the possible loss of capital. Asset allocation, diversification, dollar-cost averaging and/or rebalancing do not ensure a profit or protect against loss.
The information presented is for informational purposes only and is not intended as investment advice and is not a recommendation about managing or investing retirement savings. These materials do not take into account individual investment objectives or financial situations. These materials are for informational, illustrative and educational purposes only.
PGIM DC Solutions LLC ("PGIM DC Solutions") is an SEC-registered investment adviser, a Delaware limited liability company, and an indirect wholly-owned subsidiary of PGIM, Inc. ("PGIM"), the principal asset management business of Prudential Financial, Inc. ("PFI") of the United States of America. PGIM DC Solutions is the retirement solutions provider of PGIM and aims to provide innovative defined contribution solutions founded on market leading research and investment capabilities. Registration with the SEC does not imply a certain level of skill or training.
PGIM DC Solutions aims to help participants achieve their retirement goals through their suite of “PGIM RetireWell™” solutions. These solutions may include a range of investment options including target date portfolios, retirement spending strategies, and managed accounts powered by our proprietary advice engine. There is no guarantee that investment or retirement goals will be achieved. Use of the term “RetireWell” and any related phrase is not intended to indicate that such goals will be achieved.
© 2024 Prudential Financial, Inc. and its related entities. Prudential, the Rock symbol, and the PGIM logo are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.
PGIM DCS – 3367175