Empower Named Retirement Leader of the Year

Apr 27, 2016
Press Release

Formed less than two years ago, firm is on mission to address nation’s retirement savings challenge

Empower Retirement, the nation’s second-largest retirement services provider, was named Retirement Leader of the Year at the 23rd annual Mutual Fund Industry Awards, held in New York City last night.

"As a firm that strives to help millions of Americans achieve a secure, dignified retirement, we are honored to receive this recognition," said Empower President Edmund F. Murphy III. "Our organization will continue to closely partner with plan sponsors and their participants, as well as the advisors and consultants who serve them, through our unique breadth of expertise, strong commitment to innovative thought and process, and mixture of capabilities and resources."

Empower emerged as the second largest retirement services provider in the U.S. in late 2014, as a result of Great-West Financial’s acquisition of the J.P. Morgan Retirement Plan Services (RPS) large-market recordkeeping business and the subsequent integration of the retirement services business of Putnam Investments.

In 2015, Empower hit the ground running fueled by immediate and sustained organic growth. By the end of the year, the firm had defined contribution retirement plan sales and commitments of $50 billion and almost a million new participants. Further, Empower sales were 70 percent higher than its three predecessor organizations had in 2014 – and the firm grew its participant count at twice the market rate.

In addition, the firm established the Empower Institute to develop original research and examine theories related to retirement, investments, savings and associated topics. Empower has also engaged in significant public policy advocacy, working closely with legislators and regulators on numerous retirement and investing issues of importance to clients and participants.

Empower is further strengthening its brand recognition among businesses, advisors and individuals with highly visible marketing activities. These include a multi-faceted advertising campaign centered on the retirement-oriented theme, "Thinking Further Ahead." In addition, Empower is establishing an active social media presence to drive further discussion and interaction with stakeholders. The firm is also creating an active sports marketing program by partnering with three National Football League teams and PGA Tour professional Robert Streb to help raise the brand’s visibility with a broad demographic.

Organized by Pageant Media, the Mutual Fund Industry Awards, "recognize the people and organizations that stood out for their excellence, achievements and contributions to the mutual fund industry." Retirement Leader of the Year is awarded to a firm that has made a key impact on growing retirement assets with unique retirement solutions, marketing campaigns and significant contributions to the retirement industry at large, according to Pageant.

About Empower

Headquartered in metro Denver, Empower Retirement administers $411 billion in assets for 7.6 million participants. It is the nation’s second-largest retirement plan record keeper by total participants (Pensions & Investments, April 2016). 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.

Media Contact:

Stephen Gawlik – 303-737-0899 (office), 617-417-4408 (cell)

Learn More

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.

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Carefully consider the investment option’s objectives, risks, fees and expenses. Contact Empower for a prospectus, summary prospectus for SEC-registered products or disclosure document for unregistered products, if available, containing this information. Read each carefully before investing.

Securities, when presented, are offered and/or distributed by Empower Financial Services, Inc., Member FINRA/SIPC. EFSI is an affiliate of Empower Retirement, LLC; Empower Funds, Inc.; and registered investment adviser, Empower Advisory Group, LLC. This material is for informational purposes only and is not intended to provide investment, legal or tax recommendations or advice.  

IMPORTANT: The projections, or other information generated on the website by the investment analysis tool regarding the likelihood of various investment outcomes, are hypothetical in nature, do not reflect actual investment results and are not guarantees of future results. The results may vary with each use and over time.

Investing involves risk, including possible loss of principal.

Insurance products are issues by or offered through Empower Annuity Insurance Company of America, Corporate Headquarters: Greenwood Village, CO; or in New York, by Empower Life & Annuity Insurance Company of New York, Home Office: New York, NY. 

The managed account service is part of the Empower Advisory Services suite of services offered by Empower Advisory Group, LLC, a registered investment adviser.

The Empower Institute is a research group within Empower.

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