This material is for informational purposes only and is not intended to provide investment, legal or tax recommendations or advice. As an Empower client you always have access to: See a complete picture of your accounts in one place with a single login. This material is for informational purposes only and is not intended to provide advice, investment, legal or tax recommendations. Empower Interface EFSI and Pershing are separate, unaffiliated brokerage firms. Empower Retirement Savings Plan 401k mutual funds and investment options rating. Open an account Features On-demand access to accounts, positions and balances. Using the WDC to My Advantage | ETF Login to request a rollover. Any amount held in investments other than American Funds is subject to applicable sales charges. Start investing for your child's future with an Empower custodial account. Unlike mutual funds, individual shares of ETFs are not redeemable directly with the Issuer. We offer fiduciary advice solutions for everyone. Securities offered or distributed through GWFS Equities, Inc., Member FINRA/SIPC and a subsidiary of Great-West Life & Annuity Insurance Company. Age-based target date funds are the default investment option for the 401 (k) / 457 plans. All rights reserved. Wells Fargo Bank, N.A. Service Representatives are available Monday Friday, 8:00 am 8:00 pm Eastern Standard Time. Empower Retirement supports over 41,000 investment options. This is higher than I would like, considering passive index funds on Chase or TD Ameritrade are in the 0.03% to 0.10% range, and index funds tend to outperform most other funds. EFSI is an affiliate of Empower Retirement, LLC; Empower Funds, Inc.; and registered investment adviser Empower Advisory Group, LLC. Empower is the number one choice of industry professionals. Empower is just the recordkeeper. Please submit the correct marital status to the Fund Office in writing to reflect properly on your account. Please reach out to us via the method you prefer. Need Help? The investment options are the same in both the 401 (k) and the 457. Investing involves risk, including possible loss of principal. To speak with a representative, please contact us between 8:30 a.m. and 8 p.m. We are committed to keeping your information secure and stand behind our online and mobile security with the Empower Security Guarantee. BlackRock LifePath Index Retirement Fund Institutional Shares: LIRIX: C: U.S. All Cap: 8: 0.18%: U.S. Equities - Growth Transaction fees, where applicable, will be noted during online order entry or via your registered representative during broker-assisted trades. Your Personal Identification Number is required to access your personal account information and to initiate any transactions. The Empower Institute is a research group within Empower. We help your clients motivate their participants with personalized multichannel communications that encourage them to take action. Securities offered or distributed through GWFS Equities, Inc., Member FINRA/SIPC and a subsidiary of Great-West Life & Annuity Insurance Company. This material is for informational purposes only and is not intended to provide investment, legal or tax recommendations or advice. You will then be asked to enter your PIN. Empower Retirement Reviews (2023) - brokerage-review.com Financial wellness & participant experience, Market timing and excessive trading policies, Contribute up to $6,500 in 2023, $7,500 if you're 50 or over, If you earn over a certain amount you may not be able to contribute, Withdrawals required starting at age 73 (72 if you reached age 72 before January 1, 2023), Withdrawals are never required during the owners lifetime. It's best to just keep it simple. Check your plans provisions to see if that applies to you. Online Advice and My Total RetirementTM are part of the Empower Advisory Services suite of services offered by Empower Advisory Group, LLC, a registered investment adviser. Retirement Professionals are registered representatives of and offer brokerage products through Wells Fargo Clearing Services, LLC . In this step, we'll enter the information we found into our spreadsheet to calculate your plan's total cost - or "all-in" fee (administration fees + investment expenses). 4 Additional transaction fees may apply depending on trading activity. Thomas experience gives him expertise in a variety of areas including investments, retirement, insurance, and financial planning. In addition, non-qualified annuities are funded by money that has already been taxed, and only the interest earned will be taxed once you generate income during retirement. Shares are bought and sold at market price, which may be higher or lower than the net asset value (NAV). You can decide how your money should be invested given your individual goals, risk tolerance, and timeline. Transaction fees may apply to certain mutual funds. Brokerage services such as clearing, settlement, custody and other similar functions are provided by Pershing LLC, Member FINRA/NYSE/SIPC and a wholly owned subsidiary of The Bank of New York Mellon Corporation. Long Term Care costs are costly, and a 70% chance a person will need the care. Once youre ready to take the next step, read on for some tips and tricks. Read them carefully before investing. Your State of Texas retirement plan does not include automatic cost-of-living adjustments . Now youre in charge and you have more investment flexibility, said Smith. You may be able to transfer your IRA balance into your new plan if the new plan accepts rollovers from IRAs. You will then be asked a series of questions. Thousands of mutual funds, exchange traded funds (ETFs), individual equities and fixed-income securities to choose from. Unless otherwise noted: Not a Deposit | Not FDIC Insured | Not Bank Guaranteed | Funds May Lose Value | Not Insured by Any Federal Government Agency. What options they have when they leave employment (based on their unique needs and specific . Turning your old employer retirement plan account into an IRA keeps your savings tax-deferred while giving you more control over how your money is invested. The Massachusetts Deferred Compensation 457 SMART Plan is a retirement savings program available for Commonwealth of Massachusetts state and municipal employees. Before rolling your money into a new plan, you should compare the plans investment options and withdrawal rules with those of your IRA. Yes. 2 Fund share classes available through Empower Select do not pay revenue sharing, such as 12b 1 payments, from the fund. Empower Financial Services, Inc. reserves the right to change and/or modify pricing. Empower Select is celebrating four years of helping grow organizations by delivering a value-focused retirement plan. Plus, it has great tax advantages, too. See if there are any limitations, confirm that your savings are eligible to roll over into the plan and understand any paperwork they require. 1 As part of the Great-West Family of Companies, Empower Retirement also leverages its relationship with Great-West Investments to provide a wide and complementary array of investment solutions for retirement investors. Non-U.S. residents are subject to country-specific restrictions. Empower offers digital wealth management for those with at least $100,000. ETFs are a type of exchange-traded investment product that must register as either an open-end investment company (generally known as funds) or a unit investment trust. My hospital uses Empower Retirement for our 401k, 403b, 457b, 457f accounts. With Empower Retirement, account holders have control over their investment options for both IRA and 401k investments. Empower Retirement IRA Empower Retirement is owned by Great-West Lifeco. Transfer to an IRA and take control of your retirement savings. 3 This option will mean your retirement account will be taxable income. Read Also: How Much Money Do I Have In My 401k. ETFs are subject to risks similar to those of their underlying securities. Ask your sales representative to review our comprehensive services. Financial wellness & participant experience, Market timing and excessive trading policies. 4 Investment returns will fluctuate and are subject to market volatility so that an investors shares, when redeemed or sold, may be worth more or less than their original cost. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Money Market Fund. There is no guarantee provided by any party that participation in any of the advisory services will result in a profit. I currently have had my 4 accounts all in the JP Morgan Smart Retirement 2050 fund which they were all automatically placed in when I started working. Shares are bought and sold at market price, which may be higher or lower than the net asset value (NAV). If you need help with your retirement plans, or if you want greater access to manage your own accounts and assets, Empower Retirement may be a good option for you. Empower Retirement | Retirement solutions Empower Retirement Savings Plan . An individual can contribute up to $7,000 annually, depending on the persons age. You may be curious about what life insurance covers and whether you should include an additional life insurance policy with your other financial assets. All rights reserved. 2023 Empower Annuity Insurance Company of America. This may include a dedicated retirement advisor, financial planning and a wealth of online resources. Empower Financial Services, Inc. may receive a fee from mutual fund companies participating in the Empower Brokerage service for providing certain distribution, administrative and shareholder services. another plug for you to do a backdoor Roth IRA as you said currently you are just doing a 403b and a 457b. A guaranteed retirement plan is a type of investment account that offers a guaranteed "stream of income" during retirement. Transform your practice with comprehensive retirement products that help drive innovation and administrative simplicity at a best overall value.1. Empower Review The results may vary with each use and over time. Step 4 - Calculate Your All-In 401 (k) Fee. An IRA allows you to invest money for retirement with certain tax advantages such as tax-free growth or pre-tax contributions. Your personalized online dashboard provides a complete view of your financial picture, so it's easy to see your estimated monthly retirement income, what percentage you are on track to replace and track progress toward all your financial goals. Just buy that and set it and forget it. Not necessarily, although thats what most plans require. OR Not all product offerings and services are available in all states or to all plan sizes and types. Low account fees and a range of investment choices ETF shares are a collection of securities bought and sold at market price, which may be higher or lower than the net asset value. This could negatively impact your overall savings. Speak to a representative about your specific situation and see whether Empower could help you with your financial future. The fund companies listed and their representatives are part of the Empower Fund Partner Program. This material is for informational purposes only and is not intended to provide investment, legal or tax recommendations or advice. Sorry, you need to enable JavaScript to visit this website. There is also an annual custodian fee . Empower Retirement PO Box 173764 Denver, CO 80217-3764 Tennessee Department of Treasury. Invest money with tax-free potential growth, Do-it-myself investor who wants access to an advisor when they need one Empower Retirement refers to the products and services offered in the retirement markets by Great-West Life & Annuity Insurance Company, Corporate Headquarters: Greenwood Village, CO; Great-West Life & Annuity Insurance Company of New York, Home Office: NY, NY, and their subsidiaries and affiliates. Past performance is not indicative of future returns. You won't pay any initial or annual account fees, and can access more than 140 mutual fund options. Eligible employees can save and invest before-tax and after-tax dollars through salary deferrals into our wide array of low fee investments options. Most people who roll over end up transferring their 401 savings into a new or existing IRA . The table below shows the differences between a 401k and an indexed universal life insurance policy. Our investment account offers another way to invest for your future and meet your goals outside your retirement savings. At Empower, we help you through every step of your retirement savings journey. You can open an Empower Premier IRA in less than 10 minutes. This material is for informational purposes only and is not intended to provide investment, legal or tax recommendations or advice. Brokerage and investment accounts are intended for knowledgeable investors who acknowledge and understand the risks associated with the investments available through these accounts. Brokerage services such as clearing, settlement, custody and other similar functions are provided by Pershing LLC, Member FINRA/NYSE/SIPC and a wholly owned subsidiary of The Bank of New York Mellon Corporation. We offer the Empower Premier IRA, which provides straightforward help and advice on your financial goals, and the Empower Brokerage IRA, which lets you select and monitor your own investments. If you are a more seasoned investor and would like to manage your own investments, then a Brokerage IRA may be for you. Please consult with your investment advisor, attorney and/or tax advisor as needed. To request a new PIN by phone call Empower Retirement Services at 1-800-743-5274. Which type of account would you like to sign up or register for? Take a few minutes to explore your options. Participants with Empower Retirement options require clients to be sure of what they are doing on the company website before they make any major changes to their investment portfolios. New participants wishing to enroll in the USW Industry 401 Plan by processing a rollover may contact the Fund Office at 1-877-344-4015 to request an Enrollment booklet and Summary Plan Description. Here's the current fund I'm in and below are the available funds with their associated expense ratios (I've bolded the funds I was planning on using). Its never too soon to plan for a more financially secure retirement. Its never a bad idea to speak to a professional to see what would work best for you and your family. When it comes to the type of investments you want to make, there are countless choices. Feedback on Empower Retirement 401k investment options and fees Empower Retirement Plan Employee Login Need Help? Financial Advisor. If youve decided to leave your current job for another, you will need to decide what to do with the money that you have invested in your current companys 401 plan. Discover how together we can continue to deliver what clients need most. 2023 Empower Annuity Insurance Company of America. This site is designed for U.S. residents. With Empower Retirement, account holders have control over their investment options for both IRA and 401k investments. Traditional IRA. Mid Cap Funds; Alger Weatherbie Specialized Growth A: American Century Mid Cap Value Inv: BlackRock Mid-Cap Growth Equity Inv A: Empower Ariel Mid Cap Value Fund Inv: Empower Mid Cap Value Inv: Empower S&P MidCap 400 Index Fund Inv: Empower T Rowe Price MdCp Gr Fund Inv: Janus Henderson Contrarian T: Janus Henderson Enterprise S: JPMorgan Mid . Not a deposit or guaranteed by any bank affiliate or credit union. NTP-Options | Empower No fees and low minimums to open an account 1. The fees on your passive investment options are great - 0.16% for the target date fund. You'll be able to choose from a wide selection of mutual funds and stocks that match your personal goals and investment style. You may lose money. All visuals are illustrative only. Empower Select is celebrating four years of helping grow organizations by delivering a value-focused retirement plan. Participants with Empower Retirement options require clients to be sure of what they are doing on the company website before they make any major changes to their investment portfolios. Investment returns will vary based on market conditions and volatility, so that an investor's shares, when redeemed or sold, may be worth more or less than their original cost. Guided by decades of experience, inspired by leading-edge technology and driven by service excellence, we offer solutions designed to help you create better retirement experiences for your clients. 3 Empower refers to the products and services offered by Empower Annuity Insurance Company of America and its subsidiaries, including Empower Retirement, LLC.