Under the agreement, Empower will acquire the heritage SunTrust 401(k) recordkeeping business, which includes approximately 300 retirement plans consisting of more than 73,000 plan participants and $5 billion in plan assets.
The number of retirement-age Americans in the workforce is at an all-time high. According to one report, in February 2019 over 20% of Americans age 65 or older were working or looking for work.
Empower Retirement today announced the completion of the previously announced acquisition of MassMutual's retirement plan business.
Smart steps you can take to gain control of your savings next year.