Empower will continue to provide retirement plan administration for the Louisiana Public Employees Deferred Compensation Plan with approximately $2.58B in AUM

GREENWOOD VILLAGE, COLO. April 1, 2026 – Empower, a leading provider of retirement and wealth management solutions,¹ today announced the State of Louisiana has chosen to renew its 35-year partnership.

The new contract is for five years with a five-year option.

Empower will continue to provide plan administration for the Louisiana Public Employees Deferred Compensation Plan 457(b) to approximately 36,000 state and local employees with $2.58B in assets under administration.*

“We look forward to continuing our partnership with the State of Louisiana to deliver innovative solutions that meet their state and local employees’ unique needs,” said Joe Smolen, president, Workplace Solutions at Empower. “Together, we have developed a consistent commitment to service, with a dedicated service team, which has delivered positive outcomes and long-term value to both the plan and their employees.”

“This renewal is a vote of confidence from the State of Louisiana that they’ve valued the results we’ve accomplished together,” said Marybeth Daubenspeck, vice president, Government Markets at Empower.

Daubenspeck noted the State has added financial planning services to the plan, which expands the offering beyond tools and education to include personalized, fiduciary financial guidance by credentialed financial planning professionals, strengthening the State’s commitment to financial wellness.

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, providing recordkeeping, administration or investment services for 29 state retirement programs.

Learn about Empower’s 2025 government research, Empowering America’s Financial Journey^TM: Government sector.

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Nassau County renews partnership with Empower

About Empower

Recognized as a leader in retirement services and wealth management,¹ Empower administers over $2.0 trillion in assets² for more than 19.5 million individuals through the provision of workplace and individual retirement plans, advice, financial planning, and investments. Connect with us on empower.com, Facebook, X, LinkedIn, TikTok, and Instagram.

Media contacts:

Stephen Gawlik - [email protected]

Mandy Cassano - [email protected]