Plan administration

With our state-of-the-art recordkeeping platform serving as a foundation, our fully integrated proprietary system allows for a more dynamic approach to handling your needs.

More than 38,000 clients, including some of the largest financial institutions and government plans in the U.S., trust us with their plan administration needs¹

Best-in-class awards²

• Plan transaction processing
• Loan/withdrawal processing
• Beneficiary administration
• Plan design flexibility
• Payroll integration

Our plan sponsor experience offers a comprehensive look at your plan's relevant information with tools that help improve plan results and reduce administrative tasks.

Empower saves you time and makes plan administration seamless and simple by:

• Helping to reduce your administrative and fiduciary responsibilities.
• Using data to help ensure your employees receive required notices and educational communications.
• Keeping track of your plan activity in real time and helping to improve your plan's design as needed.

Proactive administrative support

Our proprietary, modern recordkeeping system drives efficient data collection, allowing us to:

• Validate payroll data with each submission.
• Track employee eligibility and contributions.
• Provide real-time status of participant readiness for retirement through our Lifetime Income Score^SM analysis.

Our collection of accurate data allows us to relieve you of additional administrative duties, including:

• Distribution of all participant notices.
• Beneficiary tracking and verification for death claims.
• QDRO verification and processing.
• Annual plan review.
• 1099 preparation and delivery.
• Safe harbor suspension and reinstatement.
• Loan approval and monitoring.
• Distribution processing, including withdrawals, terminations and rollovers.

Ongoing plan design and compliance services

Your plan design consultant stays committed to your plan to support ongoing compliance testing and ERISA services. In-house experts and external consultants collaborate to help you meet your fiduciary responsibilities. Together, these experts offer the following:

• Initial plan design review to help determine whether your current plan design supports your goals
• Annual plan reviews through which we monitor and evaluate your plan
• Prototype plan documents, including summary plan descriptions (SPDs) and documents related to ongoing maintenance
• Ongoing assistance and updates related to issues such as pension reform change
• Comprehensive IRS/Department of Labor plan testing and compliance counseling
• On-demand testing available at any time at no additional cost
• Regulatory updates that provide information and tools to help meet your fiduciary responsibilities
• Proactive, plan-specific compliance and consulting support, including customized merger and acquisition support
• Standard consulting services at no additional cost

Plan fees

We provide industry-leading services at a fair price. In numerous benchmarks — and for many years — clients have rated us among the best in delivering value.