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Plan Administration

More than 71,000 clients, including some of the largest financial institutions and government plans in the U.S., trust us with their plan administration needs1

With our state-of-the-art record keeping platform serving as a foundation, our fully integrated proprietary system allows for a more dynamic approach to handling your needs.

Best-In-Class Awards2

Best in Class awards

Plan Administration 

Sponsor Services

Participant Services

Support Services 

Investments and Fees 


Our plan sponsor experience offers a comprehensive look at your plan’s relevant information with tools that help improve plan results and reduce administrative tasks. 

Empower saves you time and makes plan administration seamless and simple by:

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Helping to reduce your administrative and fiduciary responsibilities.

Using data to help ensure your employees receive required notices and educational communications.

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Keeping track of your plan activity in real time and helping to improve your plan’s design as needed.

Proactive administrative support

Our proprietary, modern record keeping system drives efficient data collection, allowing us to:

 

Validate payroll data with each submission.

Track employee eligibility and contributions.

Provide real-time status of participant readiness for retirement through our Lifetime Income Score℠ analysis

Our collection of accurate data allows us to relieve you of additional administrative duties, including:

 

Distribution of all participant notices.

Beneficiary tracking and verification for death claims.

QDRO verification and processing.

Annual plan review.

1099 preparation and delivery.

Safe harbor suspension and reinstatement.

Loan approval and monitoring.

Distribution processing, including withdrawals, terminations and rollovers.

Ongoing plan design & compliance services

Your plan design consultant stays committed to your plan to support ongoing compliance testing and ERISA services. In-house experts and external consultants collaborate to help you meet your fiduciary responsibilities. Together, these experts offer the following:

Compliance Services

Ongoing assistance and updates related to issues such as pension reform change

Comprehensive IRS/Department of Labor plan testing and compliance counseling

On-demand testing available at any time at no additional cost

Regulatory updates that provide information and tools to help meet your fiduciary responsibilities

Proactive, plan-specific compliance and consulting support, including customized merger and acquisition support

Standard consulting services at no additional cost

1 As of April 1, 2022. Information refers to all retirement business of Great-West Life & Annuity Insurance Company (GWLA) and its subsidiaries, including Empower Retirement, LLC; Great-West Life & Annuity Insurance Company of New York (GWLANY); and Prudential Retirement Insurance & Annuity Company (PRIAC), marketed under the Empower brand. 

2 Based on best-in-class awards from PLANSPONSOR 2020 DC Survey, February 2021.

Not all product offerings and services are available in all states or to all plan sizes and types. Please contact your Empower Retirement representative to determine what is available for your situation.

By accessing this content, you are certifying you are a plan sponsor or financial professional.

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Carefully consider the investment option’s objectives, risks, fees and expenses. Contact Empower Retirement 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 GWFS Equities, Inc., Member FINRA/SIPC. GWFS is an affiliate of Empower Retirement, LLC; Great-West Funds, Inc.; and registered investment adviser, Advised Assets 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 issued by or offered through Great-West Life & Annuity Insurance Company, Corporate Headquarters: Greenwood Village, CO; or in New York, by Great-West Life & Annuity Insurance Company of New York, Home Office: New York, NY. Guarantees are subject to the terms and conditions of the contract and the claims-paying ability of the insurer.

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

The Empower Institute is a research group within Empower Retirement, LLC.

“EMPOWER” and all associated logos and product names are trademarks of Great-West Life & Annuity Insurance Company.

All features may not currently be available and are subject to change without notice. ©2022 Empower Retirement, LLC. All rights reserved.

Unless otherwise noted: Not a Deposit | Not FDIC Insured | Not Bank Guaranteed | Funds May Lose Value | Not Insured by Any Federal Government Agency.