Recognizing the negative impact of household debt on long-term financial security, Prudential is partnering with GreenPath Financial Wellness to introduce debt management advice to its workplace financial wellness solutions.
Noting that household debt rose to more than $14 trillion in 2019, Prudential explains that it is continually looking to offer solutions such as emergency savings and student loan assistance tools to workplace clients to help employees and association members manage their finances.
As part of the offering, GreenPath will provide a free session with a certified financial counselor to establish goals and explore debt repayment options. For a fee, employees or members who participate can also choose to enroll in a formal debt management plan designed to pay off outstanding balances in five years or less.
The service will be available to all institutional employers in the second half of 2020, according to the announcement.
