At Empower Retirement, we're helping employees remove the financial barriers preventing them from replacing — for life — income made while working.
That is why we create solutions that help with their current financial needs. Helping employees take control of their finances today can help them save more for their future.
Our simple, intuitive and actionable solutions are focused in four important areas:
Empower believes everyone should have the chance to achieve retirement readiness. For many, that means more than just simply saving in a workplace savings plan. This is why we support consultative discussions and have expanded our suite of services.
For those employees not already working with a financial professional or advisor, our financial counselors provide support in two ways:
- Phone consultations
- In-person seminars, workshops and one-on-one consultations
Counselors can assist your employees in a variety of areas:
Empower Dynamic Retirement Manager ™2
There is no guarantee provided by any party that participation in any of the Advisory Services will result in a profit.
Health and wealth solutions
Empower Retirement has partnered with Optum®, the largest health savings account (HSA) services provider and wellness leader, to provide an industry-leading, retirement-oriented HSA. Saving for healthcare costs in retirement has never been easier.
Provides deep integration with the Empower participant experience
The first-time integration of future income projections with retirement plan balances and projections is coupled with the ability for plan participants to change HSA contribution amounts.
Supports current healthcare needs
Empower HSA supports medical claims integration, facilitates direct payments to providers, issues debit cards and offers many other services associated with an HSA.
Helpful financial education
We focus on a family's financial wellness needs across all generations, providing simple and actionable education organized in the following categories:
- Spending — We help employees manage ongoing income and expenses and control debt. For example, we show them how to potentially pay off debt utilizing a simple method.
- Saving — We emphasize saving for retirement as well as the importance of saving for a rainy day or other important short-term goals.
- Investing — We provide information covering basic investing concepts to help employees make more informed choices.
- Protecting — We explain in simple terms principles related to insuring against loss of income, taxes, Social Security optimization and creating a legacy.
1 Online advice and the managed account service are part of the Empower Retirement Advisory Services suite of services offered by Advised Assets Group, LLC, a registered investment adviser.
2 The managed account service offered through Dynamic Retirement Manager is provided by AAG.
3 Pricewaterhouse Coopers Employee Financial Wellness Survey, 2017.
4 Argento, R., Bryant, V. L. and Sabelhaus, J. (2015), Early Withdrawals From Retirement Accounts During the Great Recession, Contemp Econ Policy.
5 Report on the Economic Well-Being of U.S. Households in 2015. Board of Governors of the Federal Reserve System, May 2016.
Investments are not FDIC insured, are not guaranteed by Optum Bank® and may lose value.
Educational, communication and operational services regarding Empower HSA may be provided by registered representatives of GWFS. By electing Empower HSA, plan participants are contracting directly with Optum and its affiliates for this service. GWL&A, or its subsidiaries or affiliates, is not affiliated with Optum and is not responsible for their services.
Health savings accounts (HSAs) are individual accounts offered or administered by Optum Bank®, Member FDIC, and are subject to eligibility and restrictions, including but not limited to restrictions on distributions for qualified medical expenses set forth in section 213(d) of the Internal Revenue Code. State taxes may apply. Fees may reduce earnings on account. This communication is not intended as legal or tax advice. Please contact a competent legal or tax professional for personal advice on eligibility, tax treatment and restrictions. Federal and state laws and regulations are subject to change. Optum trademarks and logos are owned by Optum®. All other brand or product names are trademarks or registered marks of their respective owners. Because we are continually improving our products and services, Optum reserves the right to change specifications without prior notice. Optum is an equal opportunity employer.