Innovative Strategies to Help Maximize Social Security Benefits: Updated Prudential White Paper

  Innovative Strategies to Help Maximize Social Security Benefits: Updated
  Prudential White Paper

Research shows that misconceptions about the program can be costly to retirees

Business Wire

NEWARK, N.J. -- November 19, 2012

Many Americans are missing out on the full value of Social Security according
to  Prudential’s updated white paper, Innovative Strategies to Help Maximize
Social Security Benefits, which outlines options and strategies that
individuals can employ to maximize lifetime Social Security income. In
particular, the paper has new content on strategies for those that enter
retirement divorced or widowed.

According to the paper, which was issued today, limited understanding of the
program is preventing many people from maximizing their benefits. The white
paper also points out that over 70 percent of retirees elect to start
receiving reduced Social Security benefits prior to their Full Retirement Age,
and that many may be missing out on the ability to collect higher benefits
over their lifetimes.

“For most, a successful retirement plan should include accumulated personal
savings as well as guaranteed lifetime income from 401(k) plans and Social
Security,” said George Castineiras, vice president, Total Retirement
Solutions, Prudential Retirement. “With the examples and approaches
illustrated in the 2012 edition of the white paper, Prudential aims to help
individuals, especially women, increase their understanding of Social Security
and optimize its role in their retirement planning.”

The strategies, applicable to both genders, contain a number of examples to
help readers evaluate their available choices, eliminate costly mistakes, and
select a claiming strategy that best suits their financial needs.

“This research highlights the advantages for women of taking spousal benefits
and delaying individual benefits to maximize lifetime Social Security income,”
says M. Cindy Hounsell, President, Women’s Institute for Secure Retirement.
“Of real value are the practical strategies available for divorced spouses,
widows, and widowers as well as the important tax considerations regarding
when to take IRA withdrawals and when to claim Social Security benefits."

Click here to view a short video summarizing the benefits of strategies
outlined in the paper.

Prudential Financial, Inc. (NYSE: PRU), a financial services leader with
approximately $ 1,005 trillion of assets under management as of September 30,
2012, 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 and investment management. 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



Prudential Financial, Inc.
Dawn Kelly, 973-802-7134
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