{"id":4646,"date":"2008-08-13T19:20:59","date_gmt":"2008-08-13T19:20:59","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2008\/08\/claims_continue_over_mastersha"},"modified":"2008-08-13T19:20:59","modified_gmt":"2008-08-13T19:20:59","slug":"claims-continue-over-mastersha","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/claims-continue-over-mastersha\/","title":{"rendered":"Claims Continue over MasterShare – Prudential Securities\u2019 Deferred Compensation Plan"},"content":{"rendered":"

\t\t\t\tPrudential Securities has been plagued by claims over its deferred compensation plan, known as MasterShare. A number of former representatives have filed claims and recovered damages. <\/p>\n

Started in 1999, MasterShare allowed Pru employees to deduct up to 25 percent of their gross pay to purchase discounted shares of a stock index fund. This discount had the effect of a company match of the funds deducted. Yet, the plan also provided that if the employee left the firm early he or she not only forfeited the company’s “match” but also the portion withheld from his or her check!<\/p>\n

With the threat of forfeiture of a substantial portion of the employee’s pay, some representatives claim they became hostages of Prudential. One former broker trainee says the firm promoted the plan as a pension plan and that he was “strongly encouraged” to join with the further suggestion that those not participating were perceived as “transients”.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Prudential Securities has been plagued by claims over its deferred compensation plan, known as MasterShare. A number of former representatives have filed claims and recovered damages. Started in 1999, MasterShare allowed Pru employees to deduct up to 25 percent of their gross pay to purchase discounted shares of a stock index fund. This discount had […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3825,3808,3821],"tags":[],"class_list":["post-4646","post","type-post","status-publish","format-standard","hentry","category-financial-advisers","category-prudential","category-wachovia"],"yoast_head":"\nClaims Continue over MasterShare - Prudential Securities\u2019 Deferred Compensation Plan — Investor Lawyers Blog — August 13, 2008<\/title>\n<meta name=\"description\" content=\"Prudential Securities has been plagued by claims over its deferred compensation plan, known as MasterShare. A number of former representatives have filed — August 13, 2008\" \/>\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.investorlawyers.com\/blog\/claims-continue-over-mastersha\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Claims Continue over MasterShare - Prudential Securities\u2019 Deferred Compensation Plan — Investor Lawyers Blog — August 13, 2008\" \/>\n<meta name=\"twitter:description\" content=\"Prudential Securities has been plagued by claims over its deferred compensation plan, known as MasterShare. 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