We're excited that you're with Empower
Effective January 4, 2021, Empower officially acquired the retirement business of MassMutual. We are pleased to share the benefits of our newly combined organization and what it will mean for you.
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Empower Total Retirement Center
Plan sponsor and TPA account management – 401(k) defined contribution plans
"Together, Empower and MassMutual connect a broad spectrum of strength and experience with a shared focus on the customer. We are excited about the opportunity to reach new customers and serve even more Americans on their journey toward creating a secure retirement."
What this will mean for you
On Monday, January 4, 2021, you'll see a new Empower logo. Your service contacts, websites and login credentials will remain the same. Over time, we'll introduce the Empower brand and service enhancements.
Additionally, participant outreach is scheduled throughout the first quarter. See below for the most recent participant communication.
Over the coming months, watch for frequent communication, updates and enhancements to your plan. In the meantime, it's business as usual.
For your plan
- Continuity of service, coordinated with your plan’s advisor
- Additional services and programs to simplify plan administration
- Refreshed reporting and plan management tools
- A single, modern recordkeeping system
- Data protection through the Empower Security Guarantee*
- Thought leadership and legislative/regulatory insights
* For more information regarding account security and the Security Guarantee’s conditions, visit empowermyretirement.com and click on Security Guarantee at the bottom of the page.
The benefit of an Empower transition
FOR ILLUSTRATIVE PURPOSES ONLY. RO1393837-1120
Empower’s extensive experience will guide a smooth transition
Since 2004, Empower has transitioned 14 recordkeeping platforms, including:
J.P. Morgan Retirement Plan Services
Franklin Templeton Investments
MetLife Life Insurance Company
New England Life Insurance
General American Life Insurance Company
U.S. Bank Defined Contribution Services
Federated Insurance Companies
220+ full-time transition professionals including:
- Program management
- Data conversion
- Integration workstreams
Transitioning to the Empower platform will be different from a typical conversion and will require less action on your part.
About Empower Retirement
Retirement is our core business — it’s in the name.
We’re the second-largest retirement services provider in the United States, serving over 67,000 plans and 12 million participants.3 We’re singularly focused on retirement, with expertise across all plan types, company sizes and market segments.
The Empower Institute explores many aspects of the retirement savings puzzle and works to blaze the trail on potential solutions to some of the most vexing challenges facing American workers.
Award-winning education with measurable results
Delivering the right message to the right person at the right time.
PLANADVISOR best-rated 401(k) company by advisers
PLANSPONSOR Outstanding Service
Top ranked in 5 of 6 Financial Advisor IQ Awards
2020 Retirement Leader of the Year
11 P&I Eddy Awards
4 PCSA Signature Awards
183 Marcom Awards
93 Hermes Awards
Empower Retirement stats at a glance
Total assets under administration
Retirement plans under administration
Total plan participants
Retirement services company in the country
Connect with an Empower representative today!
1 Estimated joint assets under administration of Empower Retirement and MassMutual.
2 As of September 30, 2020. Information refers to the business of Great-West Life & Annuity Insurance Company and its subsidiaries, including Great-West Life & Annuity Insurance Company of New York and GWFS Equities, Inc. GWLA’s consolidated total assets under administration (AUA) were $709.9. AUA is a non-GAAP measure and does not reflect the financial stability or strength of a company. GWLA’s statutory assets total $54.8B and liabilities total $51.8B. GWLANY statutory assets total $1.69B and liabilities total $1.57B.
3 As of January 4, 2021.
4 Pension & Investments Defined Contribution Survey Ranking as of April 2020.
5 Total employees for U.S. and India locations as of January 4, 2021.
The MassMutual transaction is expected to close during the fourth quarter of 2020, subject to required regulatory approvals and other customary closing conditions. References in this document constitute forward-looking statements, representing management’s current view of future events based on reasonable assumptions. These statements are not a guarantee of future performance, as actual results may differ depending on the development and completion of these business combinations. Consider these and other factors, uncertainties and potential events carefully and do not place undue reliance on forward-looking information. Other than as specifically required by applicable law, forward-looking information as a result of new information, future events or otherwise will not be updated.
Securities offered and/or distributed by GWFS Equities, Inc., Member FINRA/SIPC. GWFS is an affiliate of Empower Retirement, LLC; Great-West Funds, Inc.; and registered investment advisers, Advised Assets Group, LLC and Personal Capital. This material is for informational purposes only and is not intended to provide investment, legal or tax recommendations or advice.
©2021 Empower Retirement, LLC. All rights reserved.