2020
Recordkeeping Survey

Providers

Empower Retirement

www.empower-retirement.com
Assets ($MM) by Plan Type
Ranked #2$643,766
401(k)77%
403(b)3%
457 12%
NQDC1%
Other7%
Participants by Plan Size
Ranked #39,050,367
<$10MM17%
$10MM – $50MM15%
>$50MM – $200MM13%
>$200MM55%
Plans by Count
Ranked #839,062
% Third-party administration
Not Reported
Related Offerings
HSA integrationvia Partnership/other strategy
Student Loan Repaymentvia 3rd party
Financial wellness options1
Service Offerings
New client restrictionsNone
Multiple service modelsYes
Offers corporate trustee servicesYes - either direct or via partnership
# of internal ERISA counsel11
Will act as §3(16) fiduciaryNo
Participant Services
Call center hoursWeekdays: 8 a.m. - 10 p.m. ET Saturday: 9 a.m. - 5:30 p.m. ET
Online chat supportNo
Mobile app
Managed account optionsFinancial Engines; Morningstar/Ibbotson
Retirement Income
Displays retirement income estimate on statementsNo
Offers in-plan guaranteed retirement income productsYes
Offers out-of-plan annuity bidding serviceNo
Recordkeeping PlatformProprietary recordkeeping system