{"id":414838,"date":"2021-01-14T08:04:01","date_gmt":"2021-01-14T13:04:01","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=414838"},"modified":"2021-01-14T08:04:01","modified_gmt":"2021-01-14T13:04:01","slug":"genesis-healthcare-inc-selects-prudential-to-oversee-1-1b-in-retirement-assets","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/genesis-healthcare-inc-selects-prudential-to-oversee-1-1b-in-retirement-assets\/","title":{"rendered":"Genesis Healthcare, Inc. selects Prudential to oversee $1.1B in retirement assets"},"content":{"rendered":"

<\/p>\n

\nGenesis Healthcare, Inc. selects Prudential to oversee $1.1B in retirement assets\n<\/p>\n

NEWARK, N.J.–(BUSINESS WIRE<\/a>)–
\nGenesis Healthcare, Inc. (Genesis), one of the nation\u2019s largest post-acute care providers with more than 325 skilled nursing centers and senior living communities in 24 states nationwide, has selected Prudential Retirement as record keeper for its defined contribution retirement plans. Prudential Retirement is a business unit of Prudential Financial, Inc. (NYSE: PRU<\/a>).\n<\/p>\n

This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20210114005153\/en\/<\/a><\/p>\n

\"Michael<\/p>\n

Michael Domingos, Head of Sales and Strategic Relationships, Prudential Retirement (Photo: Business Wire)<\/p>\n<\/div>\n

\nAs of Nov. 18, 2020, Prudential oversees Genesis\u2019 $1.1 billion in retirement assets covering more than 22,000 employees across two plans. The contract adds to Prudential\u2019s robust portfolio in the healthcare industry<\/a>, where it currently oversees $20.1 billion in assets across 563 plans, helping more than 401,800 healthcare workers achieve financial wellness. Jim Edwards, AIF\u00ae<\/sup>, principal and financial advisor at CAPTRUST, is the advisor to the plan.\n<\/p>\n

\nFor Genesis, it was Prudential\u2019s solid understanding of their organization, people and needs, as well as its thoughtful and detailed plan design analysis that influenced their selection.\n<\/p>\n

\n\u201cWe needed a recordkeeper who could offer creative solutions for the unique needs of our employees,\u201d said Karen Halsted, vice president of corporate human resources at Genesis. \u201cWhen Prudential presented a new, two-plan design structure, we knew their expertise was exactly what we were looking for.\u201d\n<\/p>\n

\nThe U.S. Bureau of Labor Statistics projected that the number of healthcare jobs will grow more than any other occupation1<\/sup> between 2019 and 2029, adding about 2.4 million jobs. This highlights a significant hiring challenge for the industry even prior to COVID-19. As healthcare organizations look to recruit and retain talent in a post-pandemic job market, emphasis on financial wellness and retirement readiness will provide a competitive advantage. In fact, Prudential\u2019s 2020 Plan Sponsor Pulse Survey found that employee recruitment and retention was one of the top three reasons2<\/sup> employers offer retirement plans.\n<\/p>\n

\n\u201cHealthcare leaders are experiencing unparalleled pressure to support their workers physically, emotionally and financially,\u201d said Michael Domingos, head of Sales and Strategic Relationships at Prudential Retirement. \u201cPrudential\u2019s three-pronged retirement plan approach\u2014plan design, financial wellness and income\u2014addresses employees\u2019 critical short- and long-term financial needs, allowing our partners like Genesis to focus on other critical business and operational priorities.\u201d\n<\/p>\n

\nFor more information, visit www.prudential.com\/employers\/retirement<\/a>.\n<\/p>\n

About Prudential Retirement<\/b><\/p>\n

\nPrudential 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 4.7 million participants and annuitants. Prudential Retirement has $520 billion in retirement account values as of Sept. 30, 2020. Retirement products and services are provided by The Prudential Insurance Company of America (PICA), Newark, N.J., or its affiliates.\n<\/p>\n

About Prudential Financial, Inc.<\/b><\/p>\n

\nPrudential Financial, Inc. (NYSE: PRU<\/a>), a financial wellness leader and premier active global investment manager with more than $1.5 trillion in assets under management as of Sept. 30, 2020, has operations in the United States, Asia, Europe, and Latin America. Prudential\u2019s diverse and talented employees help to make lives better by creating financial opportunity for more people. Prudential\u2019s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit news.prudential.com.<\/a><\/p>\n

\n__________________
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1<\/sup> BLS Occupational Outlook Handbook, Healthcare Occupations: https:\/\/www.bls.gov\/ooh\/healthcare\/home.htm
\n<\/a>
2<\/sup> Prudential\u2019s 2020 Plan Sponsor Pulse Survey: https:\/\/news.prudential.com\/content\/1209\/files\/2020PSPulseSurveyDCLandscape.pdf<\/a><\/p>\n

\n1044235-00001-00\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210114005153\/en\/<\/a><\/span><\/p>\n

\nAnjelica Sena
\n
973-802-6930
\n
anjelica.sena@prudential.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America New Jersey<\/p>\n

INDUSTRY KEYWORDS:<\/b> Banking Professional Services Finance<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n\n\n\n
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Michael Domingos, Head of Sales and Strategic Relationships, Prudential Retirement (Photo: Business Wire)<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Genesis Healthcare, Inc. selects Prudential to oversee $1.1B in retirement assets NEWARK, N.J.–(BUSINESS WIRE)– Genesis Healthcare, Inc. (Genesis), one of the nation\u2019s largest post-acute care providers with more than 325 skilled nursing centers and senior living communities in 24 states nationwide, has selected Prudential Retirement as record keeper for its defined contribution retirement plans. Prudential Retirement is a business unit of Prudential Financial, Inc. (NYSE: PRU). This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20210114005153\/en\/ Michael Domingos, Head of Sales and Strategic Relationships, Prudential Retirement (Photo: Business Wire) As of Nov. 18, 2020, Prudential oversees Genesis\u2019 $1.1 billion in retirement assets covering more than 22,000 employees across two plans. The contract adds to Prudential\u2019s robust portfolio in the … <\/p>\n

Continue reading “Genesis Healthcare, Inc. selects Prudential to oversee $1.1B in retirement assets”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-414838","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nGenesis Healthcare, Inc. selects Prudential to oversee $1.1B in retirement assets - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/genesis-healthcare-inc-selects-prudential-to-oversee-1-1b-in-retirement-assets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Genesis Healthcare, Inc. selects Prudential to oversee $1.1B in retirement assets - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Genesis Healthcare, Inc. selects Prudential to oversee $1.1B in retirement assets NEWARK, N.J.–(BUSINESS WIRE)– Genesis Healthcare, Inc. (Genesis), one of the nation\u2019s largest post-acute care providers with more than 325 skilled nursing centers and senior living communities in 24 states nationwide, has selected Prudential Retirement as record keeper for its defined contribution retirement plans. Prudential Retirement is a business unit of Prudential Financial, Inc. (NYSE: PRU). This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20210114005153\/en\/ Michael Domingos, Head of Sales and Strategic Relationships, Prudential Retirement (Photo: Business Wire) As of Nov. 18, 2020, Prudential oversees Genesis\u2019 $1.1 billion in retirement assets covering more than 22,000 employees across two plans. 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