The plan includes approximately 150 member companies, 20,000 eligible participants and $600M in AUA

GREENWOOD VILLAGE, COLO. August 13, 2025 -- Empower, a leading retirement services provider, today announced a partnership with the AGC Select 401(k) plan with Associated General Contractors (AGC), a premier trade association for the construction industry with more than 85 chapters nationwide.

Empower has been selected as the recordkeeping partner for the AGC Select 401(k) plan, which transitioned to a pooled employer plan (PEP) in 2024 after 15 years as a traditional multiple employer plan (MEP). NPPG Plan Professionals, an SEC- and DOL-registered independent pooled plan provider (PPP), will continue to provide fiduciary oversight along with Baird, who has served as the plan’s financial advisors since the origination of the plan.

“We are honored that AGC trusts Empower to support their members’ retirement needs,” said Ken Munro, senior vice president of National Sales at Empower. “Partnering with top-tier pooled plan providers like NPPG and the advisors at Baird and offering accessible, state-of-the-art retirement solutions to those who build our nation’s infrastructure aligns with Empowers core mission.”

The plan originally started in 2009 with AGC Houston Chapter adopting a MEP, following the next year with Louisiana AGC joining. This collaboration now supports 15 AGC chapters, approximately 150 AGC member companies, 20,000 eligible participants with more than $600 million in assets.

“We are committed to providing access to a top tier 401(k) plan for our members and other AGC Chapters.  Making sure we partner with providers who understand our industry and deliver advanced retirement solutions is very important to us,” said Kyle Holland/AGC Houston President/CEO and Reldon Owens Louisiana AGC CEO.  “Empower, NPPG, and the trusted expertise of our long-standing advisors at Baird, Steve Ellsworth and Marcus Fair, ensure our members receive best-in-class service and protection.”

Steve Ellsworth, director at Baird and a member of the AGC Select Steering Committee, added, “NPPG and the Steering Committee from AGC Houston and Louisiana AGC conducted a rigorous due diligence process to select Empower, ensuring the AGC Select 401(k) meets the highest standards for their AGC members.”

Munro further noted that since 2021, Empower has collaborated with advisors and third-party administrators to establish and manage 50+ PEPs, covering approximately 1,000 employer-sponsored plans and nearly 100K participants while expecting $3B+ in assets under administration by year-end.

“We’re excited to see more PEPs coming to market and turning to Empower as the partner of choice,” Munro continued. “We look forward to taking them to the next level -- where they can scale, grow and thrive for years to come.”

The AGC Select 401(k) offers tailored benefits for adopting employers and participants, including:

• Reduced fiduciary and legal liability
• Elimination of individual plan audits and associated costs
• No Company Form 5500 filing requirements
• A steering committee to guide the plan
• Dedicated support staff at all levels
• Totally flexible plan design options for adopters
• Oversight by a DOL and SEC registered Pooled Plan Provider

Participants can engage with the advisors at Baird, attend monthly educational webinars, and participate in on-site company seminars to support their financial planning.

ABOUT EMPOWER

Recognized as the second-largest retirement services provider in the U.S.¹ by total participants, Empower administers approximately $1.8 trillion in assets² for more than 19 million individuals through the provision of retirement plans, advice, wealth management and investments. Connect with us on empower.com, Facebook, X, LinkedIn, TikTok and Instagram.

About NPPG

Is an investment adviser registered with the Department of Labor and United States Securities and Exchange Commission (“SEC”). and affiliate of National Professional Planning Group, Inc. NPPG is a Pooled Plan Provider offering administrative and investment fiduciary services overseeing billions of dollars in assets for thousands of clients nationwide.

About BAIRD

Founded in 1919, Baird is an international financial services firm with more than $490 billion in client assets (as of 12/31/2024). We provide Private Wealth Management, Trust, Asset Management, Banking Capital Markets and Private Equity services to clients around the world through our 200 offices. 

Media contacts:

Stephen Gawlik - [email protected]

Mandy Cassano - [email protected]