Our history
Our history
Since the beginning, Empower has been guided by a vision to revolutionize how people save, invest and plan for their future
We believe people deserve better than a one-size-fits-all solution
We believe people deserve better than a one-size-fits-all solution
At Empower, we’ve always been guided by strong values with a focus on helping people achieve the financial freedom they deserve.
It’s been an incredible journey so far, but our story is just getting started.
From the very beginning, we’ve prided ourselves on putting our customers first in everything we do — which will never change. The genesis of Empower dates back to 1891, when our parent company was founded as an insurance firm on the Canadian prairie. After more than a century of expansion and a profound evolution of service offerings, the modern iteration of Empower was launched in 2014. Our past is a big part of who we are as a business, but we continue to invest heavily in our current principles and future endeavors.
Today, as the second-largest retirement plan provider1 in the nation and a comprehensive wealth management leader, we proudly serve more than 17 million individuals and over 69,000 different organizations.2
With a constant commitment to growth, innovation and technology, we are fully dedicated to transforming the lives of all Americans. Our personalized tools and solutions are aimed at helping everyone improve their financial confidence so they can pursue their amazing passions and reach their unique goals.
That’s our promise.
110+ years serving customers
110+ years serving customers
Our timeline below highlights how it all started, some milestones along the way and where we are today.
2021
2021
2015
2015
Empower tees off a partnership with professional golfer Robert Streb.
Empower launches enhanced web experience for 7.5 million participants.
2014
2014
Robert L. Reynolds named CEO of GWL&A, leading both Great-West Financial® and Empower.
2011
2011
The company introduces a financial literacy grant initiative to help promote financial education among students in Colorado schools.
2007
2007
Franklin Templeton Investments transitions its 401(k) recordkeeping business to Empower.
2006
2006
Empower acquires a block of 401(k) and defined benefit plan businesses from Metropolitan Life Insurance Company and its affiliates as well as General American Life Insurance Company and New England Life Insurance Company. It also acquires U.S. Bank’s bundled, full-service defined contribution business.
2003
2003
Empower acquires 401(k) administration subsidiary EMJAY Corp. and the group retirement business of Federated Insurance Companies.
1993
1993
GWL&A establishes Financial Administrative Services Corporation (renamed FASCore, LLC), as a wholly owned subsidiary to provide recordkeeping and administrative services for retirement plans offered by other financial institutions.
1992
1992
The Great-West Life Assurance Company (Great-West Life) completes the transfer of its U.S. operations to U.S. subsidiary GWL&A. GWL&A’s retirement business, now known as Empower, introduces a proprietary retirement plan recordkeeping platform.9>
1985
1985
The company begins offering services to 401(k) defined contribution plans for private employers.
1983
1983
Outgrowing its downtown Denver location, the company moves its U.S. headquarters to its current campus in Greenwood Village, Colorado.
1979
1979
The formal process of splitting U.S. and Canadian operations begins. The company builds a new office complex in downtown Denver to house its U.S. headquarters.
1978
1978
The company begins offering services to Section 457 deferred compensation plans for public sector employees in the U.S.
1962
1962
The company begins offering services to Section 403(b) retirement savings plans for nonprofit organizations. U.S. customers account for half of Great-West Life’s annual sales.
1940
1940
Empower begins offering services to tax-advantaged retirement savings plans for U.S. employers under Internal Revenue Code Section 401(a).
1907
1907
The company, now known as GWL&A, is incorporated in Kansas as The National Interment Association.
1906
1906
Great-West Life opens its first U.S. sales office in Fargo, North Dakota.
1891
1891
The Great-West Life Assurance Company (Great-West Life) is incorporated in Winnipeg, Manitoba.
1 Pension & Investments Defined Contribution Survey Ranking as of April 2020.
2 As of June 30, 2022. Information refers to all retirement business of Empower Annuity Insurance Company of America (EAIC)
and its subsidiaries, including Empower Retirement, LLC; Empower Life & Annuity Insurance Company of New York (ELAINY);
and Prudential Retirement Insurance & Annuity Company (PRIAC), marketed under the Empower brand.
Advisory services are provided for a fee by Empower Advisory Group, LLC (“EAG”). EAG is a registered investment adviser with the Securities and Exchange Commission (“SEC”) and subsidiary of Empower Annuity Insurance Company of America. Registration does not imply a certain level of skill or training. Investing involves risk. Past performance is not indicative of future returns. You may lose money. All visuals are illustrative only. Actors are not EAG clients.