The beginning of something great
We’re excited that your plan is coming to Empower and committed to making the transition as smooth as possible. Our goal is to simplify plan management while making it easier for your participants to achieve financial wellness and pursue the future they imagine. As this migration unfolds, you’ll notice there’s a lot to be excited about, too.
What does this acquisition mean to me?
- For now, you, your plan participants, and your financial professional will continue using the same website credentials and day-to-day processes you have in place today. For defined benefit and nonqualified clients, you can expect enhancements on websites and tools, but will not experience a plan migration.
- Over time you’ll be able to take advantage of Empower’s enhanced technology as your plan is migrated — and upgraded — to our recordkeeping system.
- When it’s time for your plan to migrate, you, your plan participants and financial professional partners will receive a thoughtful series of communications designed to keep you informed through the process.
When logging in to their websites or calling a customer service representative, participants will see and hear messages about the acquisition. Participants will also have access to a site with more information about Empower and what they can look forward to.
Coming soon, we’ll share a schedule for technology updates via a migration program
What are the benefits of Empower and a migration?
What is a migration and how does it benefit your plan?
In addition to upgraded technology, including enhanced website and app platforms, you can expect:
“Together, Empower and Prudential bring market-leading capabilities, talent and a commitment to our clients. We are excited about the opportunity to reach new customers and serve even more Americans on their journey toward creating a secure retirement.”
Retirement is our core business
We’re the second-largest retirement services provider in the United States,1 serving over 71,000 plans and 17 million participants.2 We’re focused on retirement, with expertise across all plan types, company sizes and market segments.
The Empower Institute explores many aspects of the retirement savings puzzle and works to blaze the trail on potential solutions to some of the most vexing challenges facing American workers.
Award-winning education with measurable results
Delivering the right message to the right person at the right time.
PLANADVISOR best-rated 401(k) company by advisers
PLANSPONSOR Outstanding Service
Top ranked in Financial Advisor IQ Awards
183 Marcom Awards
2020 Retirement Leader of the Year
11 P&I Eddy Awards
4 PCSA Signature Awards
93 Hermes Awards
Empower stats at a glance
Total assets under administration
Retirement plans under administration
Total plan participants
Retirement services company in the country
Connect with an Empower representative today
Effective April 1, 2022, Empower acquired the retirement business of Prudential. Please click here for more information associated with the acquisition.
1 Pension & Investments Defined Contribution Survey Ranking as of April 2020.
2 As of April 1, 2022. Information refers to all retirement business of Great-West Life & Annuity Insurance Company (“GWLA”) and its subsidiaries, including Empower Retirement, LLC, Great-West Life & Annuity Insurance Company of New York (“GWLANY”) and Prudential Retirement Insurance & Annuity Company (“PRIAC”), marketed under the Empower brand. Assets represents the estimated consolidated pro forma assets under administration (“AUA”) of Empower and the full-service retirement business of Prudential Financial, Inc., as of December 31, 2021. AUA is a non-GAAP measure and does not reflect the financial stability or strength of a company. As of December 31, 2021, GWLA’s statutory assets total $75.9B and liabilities total $73.0B, GWLANY’s statutory assets total $4.1B and liabilities total $3.9B, and PRIAC’s statutory assets total $100.329B and liabilities total $98.793B.
3 Total employees for U.S. and India locations as of January 4, 2022.
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The Empower Institute is a research group within Empower Retirement, LLC.
“EMPOWER” and all associated logos and product names are trademarks of Great-West Life & Annuity Insurance Company.
Securities, when presented, are offered and/or distributed by GWFS Equities, Inc., Member FINRA/SIPC. GWFS is an affiliate of Empower Retirement, LLC; Great-West Funds, Inc.; and registered investment adviser, Advised Assets Group, LLC. This material is for informational purposes only and is not intended to provide investment, legal or tax recommendations or advice.
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