Prudential Retirement will continue its decade-long relationship
with Prisma Health, South Carolina’s largest not-for-profit health
organization serving more than 1.2 million patients annually, as
record keeper for its defined contribution retirement plans.
Prudential Retirement is a business unit of Prudential Financial,
Inc. (NYSE: PRU).
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Michael Knowling, Head of Client
Relations & Business Development, Prudential Retirement (Photo:
Business Wire)
As of July 3, 2019, Prudential oversees $1.3 billion in
retirement assets covering 18,000 employees. The contract supports
Prudential’s strong portfolio in the health care industry, where it
currently oversees $23.2 billion in assets across 784 plans,
helping more than 470,000 health care workers achieve financial
wellness.
For Prisma Health, it was Prudential’s seasoned service team,
including participant-focused on-site representatives, and
customized communications strategy that influenced their
selection.
Talent recruitment continues to be a significant challenge for
health care organizations. In fact, more than 90% of hospital
executives expect a talent shortage to affect their hospital’s
ability to deliver high-quality care within the next decade.1 As
the cost of medical school debt increases,2 health care
organizations can attract more talent through customized benefits
that will ease financial stress.
“Health care leaders are under immense pressure to both innovate
within a highly regulated industry and attract top talent for
success,” said Michael Knowling, head of Client Relations &
Business Development at Prudential Retirement. “Partnerships like
the one we’ve established with Prisma Health allow executives to
balance operational and personnel priorities.”
Thomas P. Simonson, CEBS, CFP®, ChFC®, Debra J. Hansen, FCA,
ASA, EA, MAAA, and Bob Croy, CLU, CIMA®, of Lockton Investment
Advisors, LLC are the plan advisors.
About Prudential Retirement
Prudential Retirement delivers retirement plan solutions for
public, private, and nonprofit organizations. Services include
defined contribution, defined benefit and nonqualified 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 more than 85 years of retirement experience, Prudential
Retirement helps meet the needs of 4.4 million participants and
annuitants. Prudential Retirement has $477.5 billion in retirement
account values as of Sept. 30, 2019. Retirement products and
services are provided by The Prudential Insurance Company of
America (PICA), Newark, N.J., or its affiliates.
About Prudential Financial, Inc.
Prudential Financial, Inc. (NYSE: PRU), a financial wellness
leader and premier active global investment manager with more than
$1 trillion in assets under management as of Sept. 30, 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 Prisma Health
Prisma Health is a not-for-profit health company and South
Carolina’s largest private employer. We are committed to excellence
in providing patient care, conducting clinical research and
teaching the next generation of physicians, nurses, dentists and
other medical professionals. Our organization was formed in late
2017 when Greenville Health System and Palmetto Health joined
together, officially becoming Prisma Health in January 2019. With
nearly 32,000 team members, 18 hospitals and more than 300
physician practice sites, Prisma Health serves more than 1.2
million patients annually—about one quarter of the state’s
population. Our goal is to improve the health of all South
Carolinians by improving clinical quality, the patient experience
and access to affordable care. Our groundbreaking programs in
cardiovascular, diabetes, neuroscience, oncology and orthopedics
care—as well as our two renowned Children’s Hospitals—attract
patients from throughout the Southeast. Ultimately, we are
dedicated to transforming the health care experience for our
patients and their families, our team members and our guests by
bringing our purpose to life: Inspire health. Serve with
compassion. Be the difference. For more information, visit
PrismaHealth.org.
1030082-00001-00
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1 “Beyond the Tipping Point: Hospital Resilience Revisited,” an
Economist Intelligence Unit research program sponsored by
Prudential, 2017.
2 Medical Student Education: Debt, Costs and Loan Repayment Fact
Card 2018.
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version on businesswire.com: https://www.businesswire.com/news/home/20200108005106/en/
MEDIA: 973-802-6930 anjelica.sena@prudential.com Anjelica
Sena
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