State of Alabama extends relationship with Empower

State of Alabama extends relationship with Empower

Alabama has been a government client of Empower since 2009 and has contracted Empower for a new term

GREENWOOD VILLAGE, COLO. September 21, 2023 – Empower announced today that the State of Alabama has contracted the retirement provider for a new term, which begins January 1, 2024. Empower will continue to provide plan administration for more than 18,500 public service employees with assets totaling approximately $667M* under the AlabamaRetire Deferred Compensation Plan, a government 457(b) plan.

“Public service workers are the cornerstone of our communities and we are pleased to continue to help support Alabama’s state and local employees as they prepare for their futures,” said Rich Linton, president and chief operating officer at Empower. “Alabama’s State Personnel Board has provided tremendous leadership over the years, and we are proud to continue to serve them.”

Alabama is known for its Southern hospitality, a strong agricultural industry, beautiful Gulf Coast beaches and college football. Alabama also is home to a large number of major river systems, which help sustain strong freshwater biodiversity in the area.

“We are thrilled to extend our partnership with Empower. Our employees and participants benefit greatly from the tailored retirement planning discussions with Empower’s retirement plan advisors, helping them achieve retirement readiness and work towards their financial goals,” said Jackie Graham, personnel director for the State of Alabama. “Both the plan and participant-facing service teams understand our employees and customize their approach and solutions to best serve their needs.”

Peter Gulia with Fiduciary Guidance Counsel was the RFP adviser.

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.

Learn more about Empower’s recent government research, Empowering America’s Financial JourneyTM: Government sector.


Recognized as the second-largest retirement recordkeeper in the U.S.,1 Empower is a leading provider of financial services, including advice, wealth management, investing, and retirement services. Headquartered in Greenwood Village, Colo., Empower administers approximately $1.4 trillion in assets for more than 18 million investors.2 Connect with us on, Facebook, Twitter, LinkedIn, Tik Tok and Instagram.

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*As of August 2023.

1 Pensions & Investments 2022 Defined Contribution Survey. Ranking measured by total number of participants as of September 2022.

2 As of June 30, 2023. Information refers to all retirement business of Empower Annuity Insurance Company of America (EAICA) and its subsidiaries, including Empower Retirement, LLC; Empower Life & Annuity Insurance Company of New York (ELAINY); and Empower Annuity Insurance Company (EAIC), marketed under the Empower brand. EAICA’s consolidated total assets under administration (AUA) were $1,387.9B. AUA is a non-GAAP measure and does not reflect the financial stability or strength of a company. EAICA’s statutory assets total $73.98B and liabilities total $70.1B. ELAINY’s statutory assets total $7.2B and liabilities total $6.9B. EAIC’s statutory assets total $90.1B and liabilities total $88.8B.