Empower Retirement earns 89 “Best in Class” awards from customers
Empower’s top satisfaction ratings doubled in four years, a 2020 PlanSponsor Magazine survey says
GREENWOOD VILLAGE, Colo., Feb. 16, 2021 — Empower Retirement earned the highest number of “Best in Class” ratings from its customers in an annual survey from PLANSPONSOR Magazine that gauges employers’ satisfaction with their retirement plan providers.
"Best in Class” is given for the highest level of customer satisfaction. Among the 10 largest retirement plan providers in the survey, Empower received the most “Best in Class” awards and earned high ratings in key areas including plan management, cybersecurity policies and retirement planning tools.
The 2020 PLANSPONSOR Defined Contribution Survey aims to offer insights into the relationships between plan sponsors and their recordkeeper, according the PLANSPONSOR website. The survey asks plan sponsors to rate their retirement plan providers in 23 areas across six categories — participant services; sponsor services; service teams and support; plan administration; and investments and fees.
“It’s a great compliment for us to hear from clients that we are providing them with the best customer service and experience across the board,” said Edmund F. Murphy III, Empower Retirement President and CEO. “Every Empower associate is focused on our clients’ needs and designing plans that offer the best solutions for employees.”
Empower supplies retirement plans and services to more than 12 million1 working Americans in all plan sizes. In the PLANSPONSOR survey, Empower received awards in all plan sizes.
Customers gave Empower high marks in areas such as plan and industry knowledge, responsiveness and consistency, keeping clients informed on regulatory updates and custom investment options.
“We are dedicated to giving all of our clients the best customer service and the best customer experience no matter what the plan size,” Murphy said. “With leading edge technology, we can build custom plans and give employees the personalized attention they desire that meets their needs and gets them to their savings goals.”
About Empower Retirement
Headquartered in metro Denver, Empower Retirement administers approximately $884 billion in assets for more than 12 million1 retirement plan participants as of December 31, 2020. It is the nation’s second-largest retirement plan recordkeeper by total participants.2 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; private-label recordkeeping clients; and IRA customers. Personal Capital, a subsidiary of Empower Retirement, is an industry-leading hybrid wealth manager. For more information please visit empower-retirement.com and connect with us on Facebook, Twitter, LinkedIn and Instagram.
Stephen Gawlik, Stephen.Gawlik@empower-retirement.com, 617-417-4408
Monica Mendoza, Monica.Mendoza@empower-retirement.com, 719-373-2460
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.
1 Estimated participants and total assets under administration (AUA) of Empower Retirement and MassMutual as of December 31, 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. As of September 30, 2020, GWLA’s consolidated total AUA were $709.9B. 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.
2 Pensions & Investments 2020 Defined Contribution Survey Ranking as of April 2020.
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.
FORWARD-LOOKING STATEMENTS DISCLAIMER
Certain statements in this press release constitute forward-looking statements representing management’s current view of future events based on reasonable assumptions. These statements are not guarantees of future performance as actual results may differ depending on the development and completion of this business combination. 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.
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