Prudential will assume the responsibility of managing the companys retiree defined benefit pension assets and disbursing monthly payments.

The majority of employers are in favor of raising state minimum wages, according to a new CareerBuilder poll.

The deal, which is subject to regulatory approval, will affect approximately 700,000 accounts with an estimated $1.3 billion in deposits.

Employers will be required to report offers made to pension plan participants to convert their monthly annuities into cash lump sums.