Company supports efforts to strengthen retirement security and modernize investor communications

GREENWOOD VILLAGE, COLO. Dec. 10, 2025 – Empower, one of the nation’s largest retirement services providers, today announced its strong support for key elements of the Incentivizing New Ventures and Economic Strength Through Capital Formation (INVEST) Act: Section 202, Retirement Fairness for Charities and Educational Institutions, and Section 205, Improving Disclosures for Investors.

The bill is currently under consideration in the House of Representatives.

Empower administers approximately $2 trillion in assets on behalf of more than 88,000 retirement plans and 19 million investors. These measures will help expand access to high-quality investment options for nonprofit and education workers while reducing costs and improving the experience for everyday investors.

Expanding investment access for 403(b) savers

Section 202 would create long-overdue investment parity for 403(b) plans by allowing access to insurance company separate accounts and collective investment trusts (CITs)—options already widely available to private-sector 401(k) plans and the federal Thrift Savings Plan (TSP). This change would help provide millions of teachers, public sector employees, and charitable workers with broader, more flexible investment choices to help them reach their retirement goals.

“Empower applauds Congress for recognizing the need to improve capital markets and modernize securities laws through the INVEST Act,” said Ed Murphy, President and CEO of Empower. “This 403(b) measure completes important progress made under SECURE 2.0 and ensures that those who dedicate their careers to education and public service have access to the same investment opportunities as other American workers. It is a common-sense update that will strengthen retirement outcomes for millions.”

Modernizing investor communications through default e-delivery

Empower also supports Section 205, which would allow the Securities and Exchange Commission (SEC) to adopt default electronic delivery for regulatory documents. Retirement plans have utilized default e-delivery since 2020, generating significant cost savings and improving engagement.

“Investors increasingly expect digital communications that are efficient, secure and environmentally responsible,” Murphy said. “Congress has an important opportunity to modernize outdated rules and reduce unnecessary costs for investors.

“Both provisions have earned strong bipartisan support, and we look forward to continuing to work with policymakers to advance measures that promote retirement readiness and improve the investor experience,” said Murphy.

About Empower

Recognized as a leader in retirement services and wealth management,¹ Empower administers approximately $2 trillion in assets² for more than 19 million individuals through the provision of workplace and individual retirement plans, advice, financial planning and investments.³ Connect with us on empower.com, Facebook, X, LinkedIn, TikTok and Instagram.

Media contacts:

Stephen Gawlik - [email protected]

Mandy Cassano - [email protected]