Empower Retirement’s FASCore renews contract to provide plan recordkeeping services to Fifth Third Bank

Empower Retirement’s FASCore renews contract to provide plan recordkeeping services to Fifth Third Bank


Private-label recordkeeping service continues to build momentum by signing top Midwest bank

FASCore, LLC, announced today that it has renewed its agreement to provide private-label recordkeeping and administrative services to Fifth Third Bank, headquartered in Cincinnati, Ohio.

FASCore, the recordkeeping arm of Empower Retirement, specializes in providing private-label, retirement plan recordkeeping and administrative services to money management firms, banks, insurance companies, brokerage firms and other financial institutions.

“Our promise to our clients is to provide comprehensive financial solutions by knowing their specific needs and by delivering superior, efficient service to accomplish their goals – today and tomorrow,” said Howard Hammond, Senior Vice President and Managing Director for Fifth Third. “In order to deliver on our promise, this continued partnership allows us to remain focused on our clients and what they value most in the ever-changing landscape of retirement plans.”

Stephanie Spaccarelli, Vice President and Director, Operations and Product Management, said, “Our relationship with FASCore allows us to maintain this focus while also being able to provide our clients with the assurance that their retirement plan is being managed and administrated by industry leading experts.”

Fifth Third is among the largest money managers in the Midwest and, as of March 31, 2015, had $308 billion in assets under care, of which it managed $27 billion for individuals, corporations and not-for-profit organizations. Fifth Third and FASCore have served clients together since 2004.

“We’re excited to have Fifth Third among our institutional clients and look forward to continuing to serve their customers,” said Edmund Murphy, III, President of Empower Retirement and the FASCore business unit. “FASCore offers innovative, state-of-the art recordkeeping and is known for its ability to transition plans and then provide excellent, ongoing service to those plans. It’s a critical part of our offer to the marketplace.”

About Empower

Headquartered in metro Denver, Empower Retirement administers $435 billion in assets for more than 7.4 million participants. It is the nation’s second-largest retirement plan record keeper by total participants (PLANSPONSOR magazine, June 2015). Empower serves all segments of the employer-sponsored retirement plan market: small, midsize and large corporate 401(k) clients, government 457 plans, non-profit 403(b) entities and private-label recordkeeping clients. For more information, please visit Empower Retirement.

About FASCore, LLC

FASCore is a leading provider of recordkeeping and administrative services for the defined contribution and deferred compensation market. For more than 20 years, FASCore has provided retirement plan recordkeeping services for 401(k), 403(b), 457 and non-qualified plans of all sizes. It has grown recently by partnering with banks, insurance companies, brokerage firms, money management companies, and other financial institutions to offer private-label recordkeeping services to their plan clients.

Media Contact:

Stephen Gawlik – Office: 303-737-0899; Cell: 617-417-4408; stephen.gawlik@greatwest.com