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Please contact your service representative or visit the brokerage website for more details. Please consult with your financial advisor, call (866) 317-6586 to speak to a retirement consultant, or email us at RetirementSolutionsService@empower-retirement.com. Our Retirement Solutions Group consists of licensed, experienced professionals who can assist participants with the following: How asset consolidation may simplify their overall savings strategy and provide a more accurate retirement income projection. Just buy that and set it and forget it. another plug for you to do a backdoor Roth IRA as you said currently you are just doing a 403b and a 457b. Depending on your plan, the process for Empower can be done over the phone or by filling out a form, and a check will either be mailed to your new account provider or sent directly to you to deposit into the new account. Empower does not receive compensation from Personal Capital for any referrals. If you have a 401 at Empower Retirement from a previous job, there are a few options for you to consider when doing a rollover. Recommended Reading: How Do I Invest In The Nasdaq. We help your clients motivate their participants with personalized multichannel communications that encourage them to take action. 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. Additional information may be obtained by calling 877-788-6261. Browse Empower Institute for cutting-edge research and actionable insights. Yes. Now youre in charge and you have more investment flexibility, said Smith. Do-it-for-me investor who prefers a professionally managed account, Knowledgeable do-it-myself investor who understands the risks associated with the investments available through a brokerage account, Choose from a range of mutual fund options for easy diversification, Choose from thousands of mutual funds, exchange traded funds (ETFs), individual equities and fixed-income securities.4, Available through My Total Retirement5 (no cost), Access to professional guidance from an advisor when you want it, No setup, administrative, closure or transaction fees3, Commission-free online stock and ETF trading up to the first 1,000 trades placed online each calendar year; $6.95 per trade thereafter6, Optional debit card or check-writing features. Choose our fully bundled option or use your local third-party administrator (TPA). WFCS and its associates may receive a financial or other benefit for this referral. Unless otherwise noted: Not a Deposit | Not FDIC Insured | Not Bank Guaranteed | Funds May Lose Value | Not Insured by Any Federal Government Agency. All rights reserved. Whether youre saving for a home purchase, planning for college expenses or adding to your existing retirement savings, an investment account provides a great way to keep investing if youve reached the contribution limits in your retirement accounts and want to continue investing toward other financial goals. ETFs are not mutual funds. Registration does not imply a certain level of skill or training. You will now be responsible for the administrative account fee if your employer previously paid this amount. Our Retirement Solutions Group consists of licensed, experienced professionals who can assist participants with the following: 60% of people who cash out their retirement plan do so with "major regret. My hospital uses Empower Retirement for our 401k, 403b, 457b, 457f accounts. FOR FINANCIAL PROFESSIONAL USE ONLY. The fees on your passive investment options are great - 0.16% for the target date fund. Pursuant to a solicitation agreement, Empower may refer eligible customers to Personal Capital. Shares are bought and sold at market price, which may be higher or lower than the net asset value (NAV). 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. 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. A one-time $10 setup fee will be deducted from your account when you open an American Funds IRA. Once the Fund Office receives the termination date and final contributions from the employer, the information will be updated and transmitted to Empower Retirement Services. Securities, when presented, are offered and/or distributed by Empower Financial Services, Inc., Member FINRA/SIPC. All rights reserved. Or, if you like to take a hands-off approach, let our experienced investment advisors manage your investments for you. 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. HealthView Services is not affiliated with GWFS Equities, Inc. Empower Retirement does not provide healthcare advice. (7,000 participants; published June 2014). Refer to that funds current prospectus for details. All rights reserved. Low account fees and a range of investment choices You won't pay any initial or annual account fees, and can access more than 140 mutual fund options. The results may vary with each use and over time. See if there are any limitations, confirm that your savings are eligible to roll over into the plan and understand any paperwork they require. A flexible solution that may help you bring to life the retirement you imagine. The sustainability rating is depicted by globe icons: A low ESG risk score equals 5 globes, and a high ESG risk score . So, whether you want do-it-yourself or do-it-for-me investing, youll enjoy low costs to open an account, flexibility and access to our loyalty program. EFSI is an affiliate of Empower Retirement, LLC; Empower Funds, Inc.; and registered investment adviser, Empower Advisory Group, LLC. You may rollover pre-tax dollars from a prior employer. They do not reflect actual investment results and are not guarantees of future results. For 2023, you can add an extra $7,500 for a total maximum contribution of $30,000 in 2023. Start investing for your child's future with an Empower custodial account. 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. Not insured by any federal government agency. You should also use our free quote tool below to access life insurance options to see which life insurance companies could work best for you. Read them carefully before investing. It's best to just keep it simple. This material is for informational purposes only and is not intended to provide investment, legal or tax recommendations or advice. ETFs are not mutual funds. 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. 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. Consider all your options and their features and fees before moving money between accounts. There are typically little to no contribution limits with a flexible-premium annuity. Market timing and excessive trading policies. Unless otherwise noted: Not a Deposit | Not FDIC Insured | Not Bank Guaranteed | Funds May Lose Value | Not Insured by Any Federal Government Agency. Learn more about how PSC can help your clients manage their plan and measure ongoing success. Securities, when presented, are offered and/or distributed by Empower Financial Services, Inc., Member FINRA/SIPC. If you can, keep it tax-deferred where there is potential for growth. Morningstar Sustainability Rating: A measure of a fund's ESG-related risk. While weve heard stories of 401K rollovers taking weeks, it can as quick as a few days. EFSI is an affiliate of Empower Retirement, LLC; Empower Funds, Inc.; and registered investment adviser, Empower Advisory Group, LLC. You also have cheap index funds for large, mid, small cap, and international for under 0.10% each, if you want to fine tune things. Choose our fully bundled option or use your local third-party administrator (TPA). 3 Empower refers to the products and services offered by Empower Annuity Insurance Company of America and its subsidiaries, including Empower Retirement, LLC. Does your new employer's plan sound better? This material is for informational purposes only and is not intended to provide investment, legal, advice or tax recommendations. All visuals are illustrative only. EFSI is an affiliate of Empower Retirement, LLC; Empower Funds, Inc.; and registered investment adviser Empower Advisory Group, LLC. 3 This option will mean your retirement account will be taxable income. When you are ready to get started on the 401K rollover process, were here to help. Your Personal Identification Number is required to access your personal account information and to initiate any transactions. *Note: If you have an existing rollover or traditional IRA at Prudential, you can roll your assets into that account. To speak with a representative regarding your account, contact us Monday - Friday between 5 a.m. - 7 p.m. Pacific time, and Saturdays between 6 a.m. - 2:30 p.m. Pacific time. At Empower, we help you through every step of your retirement savings journey. If you are not able to answer the security questions, when prompted press the star key on your phone key pad after each question. Empower Premier Investment Account (EPIA). 1 Some employer plans require you to move your balance if the balance is below minimum thresholds. Discover how together we can continue to deliver what clients need most. 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. RO1821351-0921 As you begin to plan for retirement, be sure to make good use of tax-advantaged savings like the Texa$aver program. Need Help? What you decide to do with your retirement savings when you change jobs or retire could have a big impact on your future. We are committed to keeping your information secure and stand behind our online and mobile security with the Empower Security Guarantee. ET. Advisory services are provided for a fee by either Personal Capital Advisors Corporation ("PCAC") or Empower Advisory Group, LLC (EAG) depending on your specific investment advisory services agreement. Its never a bad idea to pursue opinions from multiple professionals to make the best and most informed decisions you can. We have a similar plan through Empower with a similar list of good funds. If you are about to change jobs, heres what you need to know about rolling over your funds into a new employers 401 plan and the ins and outs of other options. We assume you plan to open an IRA, but have included instructions for rolling into your new employers 401K as well. If you think taxes will increase before you retire, you can pay now and let the money sit. IMPORTANT: The projections, or other information generated on the website by the investment analysis tool regarding the likelihood of various investment outcomes, are hypothetical in nature. Contact us for a prospectus, summary prospectus or disclosure document containing this information. Tennessee State Capitol A non-qualified annuity reduces this risk compared to a traditional IRA or IRA annuity because only the interest is taxed instead of the entire amount. No annual account maintenance fee for accounts over $100,000. 2023 Empower Annuity Insurance Company of America. Not necessarily, although thats what most plans require. Do that nowthe market is on sale! As an Empower client you always have access to: See a complete picture of your accounts in one place with a single login. 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. This site is designed for U.S. residents. 5 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. Discover how together we can continue to deliver what clients need most. Empower is the number one choice of industry professionals. Securities, when presented, are offered and/or distributed by Empower Financial Services, Inc., Member FINRA/SIPC. Sorry, you need to enable JavaScript to visit this website. Taking a reduction in benefits will affect an individual later in life when Long Term Care is needed. Most people who roll over end up transferring their 401 savings into a new or existing IRA . If you are married, please complete a new Beneficiary Designation Form under Documents and return to Empower Retirement Services. EFSI is an affiliate of Empower Retirement, LLC. Which account would you like to log in to? 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. Wells Fargo Bank, N.A. When prompted press the star key on your phone key pad. Empower Select is celebrating four years of helping grow organizations by delivering a value-focused retirement plan. Carefully consider the investment option's objectives, risks, fees and expenses. Roth IRA. 1-866-575-4977 FAQ Discussions with Retirement Professionals may lead to a referral to affiliates including Wells Fargo Bank, N.A. An IRA allows you to invest money for retirement with certain tax advantages such as tax-free growth or pre-tax contributions. The fee will be displayed on the order preview screen before an order is placed. Which account would you like to log in to? Investing involves risk. Empower Retirement supports over 41,000 investment options. Unlike mutual funds, shares of ETFs are not individually redeemable directly with the ETF. Enhanced implementation tracking launching soon. When it comes to the type of investments you want to make, there are countless choices. Why use an Individual Retirement Account? 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. If you are not married, you may update your beneficiary by logging into your account at. The 401(k) plan lets you take control of your retirement by investing in fund options of your choice. Contact the record keeper of your old employer-sponsored retirement plan to request a rollover. Also Check: Opportunity Zone Investment Funds Vanguard. This material is for informational purposes only and is not intended to provide investment, legal or tax recommendations or advice. 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. As I've read more of the site, I've been learning about reducing fees and have wanted to change up my allocation to smaller fee options. You can get help managing your investments or take control yourself. Sorry, you need to enable JavaScript to visit this website. Read each carefully before investing. Empower Retirement offers a large collection of customer resources, and Empower Retirement participants can create their own accounts and Empower Retirement logins to view and even change their investments whenever they want to. An IRA is a great way to invest for retirement because of its tax advantages. An investment in a Money Market Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. This may include a 10% penalty tax on top of your ordinary tax rate if you have not reached age 59 12. The Empower Premier Investment Account is intended for knowledgeable investors who acknowledge and understand the risks associated with an investment account. Unless otherwise noted, not insured by FDIC, NCUA/NCUASIF. 1 Commission-free online trading of stocks and ETFs. Roth IRA Annuity: Setup a Roth IRA Annuity first. If you are a prospective Financial Professional, thank you for your interest in Empower Retirement. "1, 1 2013 Annual DCP Participant Study, conducted by Boston Research Group. Some of the benefits include: No matter what goal you are investing for, our investment accounts can help you prepare. You'll pay 0.49% to 0.89% to invest with Empower. If you need to file an official complaint with Empower Retirement, you can write to the Empower Retirement address or go online to the company website. Unlike mutual funds, individual shares of ETFs are not redeemable directly with the issuer. Unlike mutual funds, shares of ETFs are not individually redeemable directly with the ETF. An open architecture investment platform that includes nearly 8,000 funds, including over 2,000 zero revenue funds. 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). EFSI is an affiliate of Empower Retirement, LLC; Empower Funds, Inc.; and registered investment adviser, Empower Advisory Group, LLC. Investing involves risk, including possible loss of principal. Roll your savings into an individual retirement account (IRA) to keep your savings tax deferred. Get personalized guidance, straightforward solutions and actionable information that helps get you closer to your financial goals. Investing involves risk, including possible loss of principal. OR You are immediately vested in the 401 (k) and can decide how your money should be invested given your individual goals, risk tolerance, and timeline. Read Also: Borrowing Money To Invest In The Stock Market. See how Empower is delivering an innovative experience that helps savers see their whole financial picture: anywhere and anytime, on any device. Any restrictions will be in the individual fund prospectus. My options seems some-what limited. Representatives do not offer or provide investment, fiduciary, financial, legal or tax advice or act in a fiduciary capacity for any client unless explicitly described in writing. Long Term Care costs are costly, and a 70% chance a person will need the care. Ultimately we build our Empower Premier Investing Account around you. Once you have your new account number from your new plan provider, you can log in to your plan to request a rollover. EFSI and Pershing are separate, unaffiliated brokerage firms. With Empower Retirement, account holders have control over their investment options for both IRA and 401k investments. First, enter the fund information from your Empower 408 (b) (2) document into the spreadsheet. This material is for informational purposes only and is not intended to provide investment, legal or tax recommendations or advice. 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. You will see a quarterly deduction on your statement for $12.50. It joins other industry leaders Fidelity and Vanguard in joining the consortium in an effort to help drive auto-portability, which the group believes could drive an extra $1.5 trillion additional . View detailed account statements with past performance histories and analyses with each individual asset, Utilize online tools to calculate and forecast future fund incomes with each individual asset, Access extensive customer support networks with financial professionals who will help with the planning and execution of retirement assets. Also Check: How To Build A Good Investment Portfolio. Step 4 - Calculate Your All-In 401 (k) Fee. This material is for informational purposes only and is not intended to provide investment, legal or tax recommendations or advice. Empower Financial Services, Inc. reserves the right to change and/or modify pricing. 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. Which type of account would you like to sign up or register for? Our investment account offers another way to invest for your future and meet your goals outside your retirement savings. Be aware that certain mutual funds may be subject to separate and additional redemption fees imposed by the particular fund. ETFs are not mutual funds. Compare Quotes From Top Companies and Save, Recommended Reading: Why Is Socially Responsible Investing Important. 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. With the exception of Putnam and Empower Investments, the fund companies listed are not affiliated with Empower Retirement, LLC or its affiliates. GWFS Equities, Inc. registered representatives may also be investment adviser representatives of GWFS affiliate, Advised Assets Group, LLC. The material on this site has been prepared for informational and educational purposes only and is not intended to provide investment, legal or tax advice. This material is for informational purposes only and is not intended to provide investment, legal or tax recommendations or advice. Do-it-myself investor who wants access to an advisor when they need one Brokerage accounts are subject to EFSI review and approval. Financial wellness & participant experience, Market timing and excessive trading policies. Please keep your PIN secure and should you forget your PIN, please follow the directions below to obtain a new one. Please contact your Empower Retirement representative to determine what is available for your situation. In fact, Empower Retirement garners an A+ rating with the Better Business Bureau . To speak with a representative regarding your account, contact us Monday - Friday between 5 a.m. - 7 p.m. Pacific time, and Saturdays between 6 a.m. - 2:30 p.m. Pacific time. Or, when you are considering rolling money over from a 401 to an IRA, you may wish to roll over only a portion of your retirement savings and take the rest in cash. Reviewing your quarterly statement on a regular basis is a good habit to . Putnam is affiliated with Empower Annuity Insurance Company of America. On August 1, 2022, Empower announced that it is changing the names of various companies within its corporate group to align the names with the Empower brand. Non-U.S. residents are subject to country-specific restrictions. You get features and benefits depending on which tier you fall into based on your account balance Platinum, Gold or Silver. The Orsini-MacMillan Group, Merrill Lynch. My hospital uses Empower Retirement for our 401k, 403b, 457b, 457f accounts. Open an IRA. 1 Asset allocation funds may be subject to a fund operating expense at the fund level, as well as prorated fund operating expenses of each underlying fund in which they invest. see above. - not true. County of LA Defined Contribution Plans. IMPORTANT: The projections, or other information generated on the website by the investment analysis tool regarding the likelihood of various investment outcomes, are hypothetical in nature, do not reflect actual investment results and are not guarantees of future results.