Does your new employer's plan sound better? Which type of account would you like to sign up or register for? Investing involves risk, including possible loss of principal. 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. Not all product offerings and services are available in all states or to all plan sizes and types. Unlike mutual funds, individual shares of ETFs are not redeemable directly with the issuer. Start investing for your child's future with an Empower custodial account. Additional information may be obtained by calling 877-788-6261. Insurance products are issues by or offered through Empower Annuity Insurance Company of America, Corporate Headquarters: Greenwood Village, CO; or in New York, by Empower Life & Annuity Insurance Company of New York, Home Office: New York, NY. A flexible solution that may help you bring to life the retirement you imagine. 3 Empower refers to the products and services offered by Empower Annuity Insurance Company of America and its subsidiaries, including Empower Retirement, LLC. Before you decide whether Empower is right for you, its a good idea to do some research. EMPOWER and all associated logos, and product names are trademarks of Empower Annuity Insurance Company of America. Empower Financial Services, Inc. reserves the right to change and/or modify pricing. Securities, when presented, are offered and/or distributed by Empower Financial Services, Inc., Member FINRA/SIPC. Which account would you like to log in to? It's about . 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. InvestmentProGuide.com is a one-stop resource for everything you want and need to know about investments and investing. All rights reserved. If you have questions when it comes to the types of investments you should make or how to handle your own assets and make any changes, you should speak to a professional. We make operational responsibilities easy (MORE) for your clients with a suite of services designed to help deliver a valuable retirement benefit to individuals in plans while making life easier for plan sponsors. 2020 Great-West Life & Annuity Insurance Company. No annual account maintenance fee for accounts over $100,000. is a banking affiliate of Wells Fargo & Company. Transaction fees may apply to certain mutual funds. If you are within three years of your normal retirement age, you may use a special catch-up contribution, which allows you to save an additional $22,500. 1-866-575-4977 FAQ If you have a 401 at Empower Retirement from a previous job, there are a few options for you to consider when doing a rollover. Do that nowthe market is on sale! Empower Retirement Plan Employee Login Need Help? The table below shows the differences between a 401k and an indexed universal life insurance policy. Carefully consider the investment objectives, risks, fees and expenses of the annuity and/or the investment options. You are immediately vested in the 401 (k) and can decide how your money should be invested given your individual goals, risk tolerance, and timeline. Securities offered or distributed through GWFS Equities, Inc., Member FINRA/SIPC and a subsidiary of Great-West Life & Annuity Insurance Company. 2 Online Advice and My Total RetirementTM are part of the Empower Advisory Services suite of services offered by Empower Advisory Group, LLC, a registered investment adviser. This material is for informational purposes only and is not intended to provide investment, legal, advice or tax recommendations. If you terminate your employment, you may leave your balance in the account at Empower Retirement Services. With Empower Retirement, account holders have control over their investment options for both IRA and 401k investments. As you begin to plan for retirement, be sure to make good use of tax-advantaged savings like the Texa$aver program. OR Which account would you like to log in to? Please contact Empower Retirement Services for a distribution package and additional information. Review your investment choices and compare fees and plan provisions to see if it's as good an option as your current plan. Investing involves risk, including possible loss of principal. 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. 2 Fund share classes available through Empower Select do not pay revenue sharing, such as 12b 1 payments, from the fund. 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. Additional information may be obtained by calling 877-788-6261. Retirement Professionals are registered representatives of and offer brokerage products through Wells Fargo Clearing Services, LLC . This material is for informational purposes only and is not intended to provide investment, legal or tax recommendations or advice. There is no guarantee provided by any party that participation in any of the advisory services will result in a profit. Moving your funds to an IRA is the route financial experts advise in most instances. So my new company uses empower-retirement.com to manage their 401k. HealthView Services is not affiliated with GWFS Equities, Inc. Empower Retirement does not provide healthcare advice. No annual account maintenance fee for accounts over $100,000.1, Commission-free online trading of stocks and ETFs.2. Empower Annuity Insurance Company of America. You can open an Empower Premier IRA in less than 10 minutes. You won't pay any initial or annual account fees, and can access more than 140 mutual fund options. Thomas experience gives him expertise in a variety of areas including investments, retirement, insurance, and financial planning. Please consult with your investment advisor, attorney and/or tax advisor as needed. A rollover IRA allows individuals to move their employer-sponsored retirement accounts without incurring tax penalties and remain invested tax-deferred. WFCS and its associates may receive a financial or other benefit for this referral. A distribution package will not be mailed until your termination date has been updated on your account at Empower Retirement Services. Great-West Financial, Empower Retirement and Great-West Investments are the marketing names of Great-West Life & Annuity Insurance Company, Corporate Headquarters: Greenwood Village, CO; Great-West Life & Annuity Insurance Company of New York, Home Office: New York, NY, and their subsidiaries and affiliates, including registered investment advisers Advised Assets Group, LLC and Great-West Capital Management, LLC. With the exception of Putnam and Empower Investments, the fund companies listed are not affiliated with Empower Retirement, LLC or its affiliates. You may lose money. Wells Fargo Bank, N.A. Unless otherwise noted: Not a Deposit | Not FDIC Insured | Not Bank Guaranteed | Funds May Lose Value | Not Insured by Any Federal Government Agency. Deciding between traditional vs. Roth IRA? Also Check: How To Build A Good Investment Portfolio. This material is for informational purposes only and is not intended to provide investment, legal or tax recommendations or advice. Contact Empower for a prospectus, summary prospectus for SEC-registered products or disclosure document for unregistered products, if available, containing this information. EFSI is an affiliate of Empower Retirement, LLC; Empower Funds, Inc.; and registered investment adviser, Empower Advisory Group, LLC. If you are a more seasoned investor and would like to manage your own investments, then a Brokerage IRA may be for you. Please submit the correct marital status to the Fund Office in writing to reflect properly on your account. For more information regarding the name changes, please visit www.empower.com/name-change. The results may vary with each use and over time. But do you know the true cost? 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. You May Like: Difference Between Broker Dealer And Investment Advisor. But remember, taxes and IRS penalties will leave you with less than you thought. The consensus is that taxes will only increase in the future. EMPOWER and all associated logos and product names are trademarks of Empower Annuity Insurance Company of America. Empower is the number one choice of industry professionals. Learn more about the variety of options available to meet your clients needs. This material is for informational purposes only and is not intended to provide investment, legal or tax recommendations or advice. 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. If you are not married, you may update your beneficiary by logging into your account at. Here is an illustrative timeline of how that would work. Read them carefully before investing. Which account would you like to log in to? 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. 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. 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. Reviewing Quarterly Statements Empower Retirement will provide you with quarterly individual account statements. 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. 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. Great-West Life & Annuity Insurance Company. 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. The best funds that they offer are: When you are ready to get started on the 401K rollover process, were here to help. Non-U.S. residents are subject to country-specific restrictions. Market timing and excessive trading policies, How asset consolidation may simplify their overall savings strategy and provide a more accurate retirement income projection, What options they have when they leave employment (based on their unique needs and specific circumstances). Additional information may be obtained by calling 877-788-6261. Empower is just the recordkeeper. Learn more, You May Like: How Do You Take Money Out Of 401k. Financial wellness & participant experience, Market timing and excessive trading policies. Putnam is affiliated with Empower Annuity Insurance Company of America. You can get help managing your investments or take control yourself. Not necessarily, although thats what most plans require. This site is designed for U.S. residents. Thomas J Catalano is a CFP and Registered Investment Adviser with the state of South Carolina, where he launched his own financial advisory firm in 2018. Sorry, you need to enable JavaScript to visit this website. Empower does not receive compensation from Personal Capital for any referrals. Transform your practice with comprehensive retirement products that help drive innovation and administrative simplicity at a best overall value.1. Login to request a rollover. Retirement Age: Dont make the mistake of taking SSI early. Try not to go it alone, he advises. Non-Qualified Annuity: After the Roth IRA Annuity has been fully funded each year, set up and fund the non-qualified annuity. Resist the temptation to cash out Which account would you like to log in to? See if there are any limitations, confirm that your savings are eligible to roll over into the plan and understand any paperwork they require. No fees and low minimums to open an account 1. *Note: If you have an existing rollover or traditional IRA at Prudential, you can roll your assets into that account. Contact Empower for a prospectus, summary prospectus for SEC-registered products or disclosure document for unregistered products, if available, containing this information. Were here to help you make informed decisions so you can achieve better outcomes. EFSI is an affiliate of Empower Retirement, LLC; Empower Funds, Inc.; and registered investment adviser Empower Advisory Group, LLC. Sorry, you need to enable JavaScript to visit this website. My hospital uses Empower Retirement for our 401k, 403b, 457b, 457f accounts. Empower Premier Investment Account (EPIA). This material is for informational purposes only and is not intended to provide investment, legal, advice or tax recommendations. The investment options are the same in both the 401 (k) and the 457. Contact the record keeper of your old employer-sponsored retirement plan to request a rollover. Withdraw funds - but be aware of taxes and potential IRS penalties. This material is for informational purposes only and is not intended to provide investment, legal or tax recommendations or advice. With the Texa$aver voluntary retirement savings program, you can increase your personal retirement savings to bridge the financial gap between your pension and Social Security.You already contributed to the ERS retirement fund, with the State and the agency you worked for also contributing on your behalf, but your ERS annuity may replace only about 50% of your salary when you retire. As I've read more of the site, I've been learning about reducing fees and have wanted to change up my Contributions to a Roth IRA are made with post-tax income money you have already paid taxes on. 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. 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. 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. We offer fiduciary advice solutions for everyone. We are committed to keeping your information secure and stand behind our online and mobile security with the Empower Security Guarantee. Securities offered or distributed through GWFS Equities, Inc., Member FINRA/SIPC and a subsidiary of Great-West Life & Annuity Insurance Company.. Great-West Financial, Empower Retirement and Great-West Investments are the marketing names of Great-West Life & Annuity Insurance Company Corporate Headquarters: Greenwood Village, CO; Great-West Life & Annuity Insurance Company of New York . We have a similar plan through Empower with a similar list of good funds. Please consult with your investment advisor, attorney and/or tax advisor as needed. Market timing and excessive trading policies. 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 and Pershing are separate, unaffiliated brokerage firms. 2 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. The sustainability rating is depicted by globe icons: A low ESG risk score equals 5 globes, and a high ESG risk score . To speak with a representative, please contact us between 8:30 a.m. and 8 p.m. Securities, when presented, are offered and/or distributed by Empower Financial Services, Inc., Member FINRA/SIPC. Registration does not imply a certain level of skill or training. An IRA allows you to invest money for retirement with certain tax advantages such as tax-free growth or pre-tax contributions. Plus, it has great tax advantages, too. Past performance is not indicative of future returns. 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 . 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. Empower Retirement Savings Plan . ETFs are not mutual funds. Plus access tools designed to help you track, manage and plan your finances. Securities offered or distributed through GWFS Equities, Inc., Member FINRA/SIPC and a subsidiary of Great-West Life & Annuity Insurance Company. All rights reserved. Empower Retirement IRA provides an array of investment options from which to choose. Roll your savings into an individual retirement account (IRA) to keep your savings tax deferred. GWFS Equities, Inc. registered representatives may also be investment adviser representatives of GWFS affiliate, Advised Assets Group, LLC. If you are married, please complete a new Beneficiary Designation Form under Documents and return to Empower Retirement Services. Traditional IRA. 1 The first one thousand trades (1,000) placed online each calendar year are $0; thereafter, each online trade will be charged $6.95. The rest of this guide walks through that process step-by-step. Sorry, you need to enable JavaScript to visit this website. Which type of account would you like to sign up or register for? Check your plans provisions to see if that applies to you. To request a new PIN by phone call Empower Retirement Services at 1-800-743-5274. The fees on your passive investment options are great - 0.16% for the target date fund. This investment account provides a simple way to invest for all your financial goals no matter how much you want to invest or how involved you want to be in your investment choices. Contact us for a prospectus, a summary prospectus and disclosure document, as available, containing this information. Some of the benefits include: No matter what goal you are investing for, our investment accounts can help you prepare. Contact us for a prospectus, summary prospectus or disclosure document containing this information. Investing involves risk. If you can, keep it tax-deferred where there is potential for growth. Investing involves risk, including possible loss of principal. All rights reserved. BlackRock LifePath Index Retirement Fund Institutional Shares: LIRIX: C: U.S. All Cap: 8: 0.18%: U.S. Equities - Growth The 401 (k) plan lets you take control of your retirement by investing in fund options of your choice. 2023 Empower Annuity Insurance Company of America. Which type of account would you like to sign up or register for? Please contact your service representative or visit the brokerage website for more details. This material is for informational purposes only and is not intended to provide investment, legal or tax recommendations or advice. However, Empower does get its fair share of customer complaints when it comes to services and questions. You will now be responsible for the administrative account fee if your employer previously paid this amount. 2 You May Like: How Do I Use My 401k To Start A Business. 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. Investing involves risk, including possible loss of principal. 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). An open architecture investment platform that includes nearly 8,000 funds, including over 2,000 zero revenue funds. Once youre ready to take the next step, read on for some tips and tricks. 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. Brokerage accounts are subject to EFSI review and approval. Once you roll the money over, its you making the decisions, but getting a financial professional should be the first step. Aug 2015 - Dec 20161 year 5 months. Taxes and penalties can take a big bite out of your retirement savings. There is no guarantee provided by any party that participation in any of the advisory services will result in a profit. We consider all your goals and give you guidance to help meet them. Get the latest on legislative, regulatory activities Read updates from the Hill and regulators. And when you open an IRA with us, we make it easy for you to invest how you want. Pursuant to a solicitation agreement, Empower may refer eligible customers to Personal Capital. Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC and Wells Fargo Advisors Financial Network, LLC, Members SIPC, separate registered broker-dealers and non-bank affiliates of Wells Fargo & Company. To speak with a representative regarding your account, contact us Monday - Friday between 6 a.m. - 8 p.m. Mountain time, and Saturdays between 7 a.m. - 3:30 p.m. Mountain time. Empower Retirement reviews and ratings online are quite positive from a financial standpoint.
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