Empower Retirement unveils first Apple Watch app for retirement planning
GREENWOOD VILLAGE, Colo., July 20, 2016 — Empower Retirement today unveiled a first-of-its-kind mobile device app for retirement planning that includes the ability to monitor one’s retirement plan through the Apple Watch.
Empower’s new app is designed to allow an Apple Watch user to have immediate access to their retirement plan information plan including their projected retirement income, retirement goal percentage and investment balances. The Watch experience will also include a new tool that lets a user see their countdown to retirement.
“At Empower our goal is to maximize the opportunities to engage plan participants at every touch point. It’s crucial for us to be present in the latest technology that people use every day,” said Edmund F. Murphy, III, president of Empower Retirement. “We want to be where people are and help them to keep their financial goals top of mind.”
Murphy explained that the Watch app offers the opportunity for highly engaged participants to take advantage of a technology solution that satisfies their needs for updated information about their retirement plan.
“For participants, this is a game changer in how they experience their retirement plan,” said Murphy. “These users will literally have information that’s even closer than their fingertips. It’s a remarkable development for participants who are actively thinking about their financial future.”
The Apple Watch was developed by Apple Inc. and incorporates numerous capabilities in conjunction with other Apple products and services. The Apple Watch relies on a wirelessly connected iPhone to perform many functions, including the new Empower app.
The new app, which is being launched this week, offers an unrivaled retirement planning experience that integrates modern mobile design elements with proven plan features. The app is designed for use on Apple iPhones and carries the full features and functions of the Empower Participant Experience, with some exceptions.
"At Empower we are seeking to bring our value proposition alive through every single interaction that we have with our client base of over eight million participants in some 35,000 plans,” said Murphy. “By offering innovative, new ways of doing things – through the web, through mobile devices, and now through the Apple Watch -- we hope to capture their attention and engage them more fully in planning for retirement.”
The new app is now available in the Apple Store and is available for use for plans currently using the Empower Participant Experience.
The new mobile solution from Empower represents the latest in the company’s strategy to provide plan sponsors, participants and advisors with innovative technology solutions to enhance and improve the many ways they can interface with their retirement plans.
In June, the company unveiled a new cash flow solution as part of its financial wellness program to help participants manage their personal finances and create new retirement savings opportunities. In addition, the company recently unveiled a redesigned web site as part of a broader digital strategy to better engage stakeholders.
Last year, the company announced a program in which Empower’s renowned Participant Experience would be launched to all 8 million Empower participants.
Headquartered in metro Denver, Empower Retirement administers $440 billion in assets for 7.5 million participants. It is the nation’s second-largest retirement plan record keeper by total participants (PLANSPONSOR, June 2015). Empower serves all segments of the employer-sponsored retirement plan market: government 457 plans, small, midsize, and large corporate 401(k) clients, non-profit 403(b) entities and private-label recordkeeping clients. For more information, please visit www.empower-retirement.com.
Stephen Gawlik – 303-737-0899 (office), 617-417-4408 (cell)
To learn more about how we’re empowering plan sponsors and their participants to be more engaged in their retirement plans than ever before, call us at 800-719-9914.