GREENWOOD VILLAGE, Colo., July 23, 2020 — Empower Retirement, the nation’s second largest retirement plan provider,1 was named 2020 Retirement Leader of the Year in the annual Mutual Fund Industry Awards, held in a virtual ceremony July 23.
Formed in late 2014, Empower Retirement now serves 9.7 million Americans in 40,000 workplace savings plans.2
“No doubt the global pandemic and its effects on the economy and business delivery have brought new challenges this year. But, looking back, Empower was created because we knew we could offer retirement services that working Americans deserve,” said Edmund F. Murphy III, Empower President and CEO. “We are honored to be recognized for delivering on that promise and we remain absolutely committed to transforming retirement savings through our expertise and innovation to help millions of Americans achieve a dignified retirement.”
Since its inception, Empower has continued to be a thought leader by producing original research 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 and was a leading advocate urging Congress to pass relief packages for Americans affected by COVID-19.
Empower has continued its growth momentum. Despite the challenges brought on by the pandemic in 2020, Empower’s assets under administration rose to $656 billion and more than 9.7 million participants as of May 31 of this year. The sales pipeline across all defined contribution business segments is $630 billion.
In keeping with Empower’s promise to deliver an innovative, intuitive customer experience, the company announced in June an agreement to acquire Personal Capital,3 a digital-first registered investment adviser and wealth manager with award-winning financial tools. The goal is to provide comprehensive, end-to-end financial planning and advice that meets all the needs and expectations of working Americans saving for their futures.
Organized by Pageant Media, the Mutual Fund Industry Awards, "recognize outstanding business leaders, the best creative minds and the top performers across U.S. asset management.” 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 Retirement
Headquartered in metro Denver, Empower Retirement administers $656 billion in assets4 for more than 9.7 million retirement plan participants, as of May 31, 2020. It is the nation’s second-largest retirement plan record keeper by total participants (Pensions & Investments, April 2020). 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; private-label recordkeeping clients; and Individual Retirement Account customers. For more information please visit www.Empower-retirement.com.
Stephen Gawlik – 303.737.0899 (office), 617.417.4408 (cell)
Monica Mendoza – 303.737.2626 (office), 719.373.2460 (cell)
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.