GREENWOOD VILLAGE, COLO. November 28, 2022 – Empower announced today it will continue its decade-long partnership with the City of Pasadena and continue to provide 457 and 401(a) defined contribution recordkeeping services totaling $342 million in assets.*
The partnership began in 2012 and the city currently employs more than 2,000 government workers.
“We are so grateful that the City of Pasadena chose to continue partnering with Empower, and we are all looking forward to providing customized solutions to help the unique needs of these government employees –so they can all retire with the financial freedom they deserve,” said Dan Morrison, senior vice president, government markets at Empower.
Pasadena, known as the “City of Roses,” combines world-class events, science and technology, arts and culture, history and architecture with great neighborhoods and opportunities for all – and is home to the famous annual Rose Parade and Tournament of Roses.
Empower is one of the largest providers of government 457 retirement plans in the country, serving entities across states, cities, counties, municipalities, associates, territories and special districts (such as transit and utility) as well as police and fire departments.
The term renewal began July 1, 2022, with a three-year contract through June 30, 2025.
Headquartered in metro Denver, Empower administers approximately $1.2 trillion in assets1 for more than 17 million retirement plan participants1 and 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; Taft-Hartley plans; small, mid-size and large corporate 401(k) clients; nonprofit 403 (b) entities; private-label recordkeeping clients; and IRA customers. Personal Capital, a subsidiary of Empower, is an industry-leading hybrid wealth manager. For more information please visit empower.com and connect with us on Facebook, Twitter, LinkedIn and Instagram.
* As of October 2022.