Company Profile
Empower
Company Overview
Who is Empower?
Simply put, we’re a financial services company on a mission to empower financial freedom for all. We work with individuals and all sizes of organizations to offer investment, wealth management and retirement solutions, along with the free Empower Personal Dashboard™, so everyone can have a clear and simple understanding of where their finances are today and where they’re headed.
Company History
110+ years serving customers.
Our timeline below highlights how it all started, some milestones along the way and where we are today.
2022
Empower earns 41 top ratings and commendations from clients.
Empower renames to bolster engagement with customers.
Empower embraces young investors on TikTok.
Empower closes acquisition of Prudential Financial retirement business.
2021
Empower closes acquisition of MassMutual retirement plan business.
Empower acquires Truist retirement plan recordkeeping business.
Empower achieves $1 trillion assets under administration.
Empower selected by Colorado Public Employees Retirement Association to administer $5 billion in DC retirement plans.
Empower to acquire Prudential Financial retirement business.
Empower named among ‘Most Community-Minded’ firms in Colorado for third consecutive year.
2020
Empower waives fees on new loans and hardship withdrawals during pandemic.
Empower launches national ad campaign to elevate importance of retirement savings.
Empower acquires Personal Capital.
Empower recognized among ‘Best Places to Work for Disability Inclusion’ by the Disability Equality Index.
Empower named 2020 Retirement Leader of the Year in the annual Mutual Fund Industry Awards organized by Pageant Media.
Empower named to Investment News’ 2020 Excellence in Diversity and Inclusion.
Empower and Fifth Third acquisition agreement.
Empower announces agreement to acquire retirement plan business of MassMutual.
2019
Empower named ‘Best Company to Work for in Colorado’ by career website Zippia.
Empower expands its roster of PGA Tour pros, announcing a partnership with three-time PGA Tour champ Brendan Steele.
Edmund F. Murphy III named president and CEO of GWL&A, the US subsidiary of Great-West Lifeco Inc. and the parent of Empower.
Empower closes sale of individual life insurance and annuity business to Protective Life Insurance Company, the primary subsidiary of Protective Life Corporation.
Empower enters into a 21-year deal for naming rights to the Broncos’ stadium, known as Empower Field at Mile High.
2018
Empower partners with PGA Tour professional and US Open Champion Webb Simpson.
Empower named one of the Top 100 Innovators in Diversity & Inclusion by Mogul.
Empower introduces PlanVisualizer™ to give plan sponsors and advisors unprecedented plan insight.
2017
Empower and Optum launch an innovative, integrated HSA solution for retirement plan participants.
Empower introduces Empower Dynamic Retirement Manager™.
2016
Empower named retirement leader of the year at the 23rd Annual Mutual Fund Industry Awards 2016.
Empower realigns institutional recordkeeping business FASCore, LLC as Empower Institutional.
2015
Empower tees off a partnership with professional golfer Robert Streb.
Empower launches enhanced web experience for 7.5 million participants.
Empower inks partnerships with the Denver Broncos, the New England Patriots and the Kansas City Chiefs.
Empower’s parent company launches the Empower Institute to provide thought leadership on issues and challenges related to retirement savings, guaranteed income and investing solutions.
2014
Bringing together three organizations, Edmund F. Murphy III named to head Empower. Empower business becomes the nation’s second-largest retirement services provider with more than 7 million plan participants.
Empower acquires J.P. Morgan Retirement Plan Services’ large-market recordkeeping firm.
Robert L. Reynolds named CEO of GWL&A, leading both Great-West Financial® and Empower.
2011
The company introduces a financial literacy grant initiative to help promote financial education among students in Colorado schools.
2007
Franklin Templeton Investments transitions its 401(k) recordkeeping business to Empower.
2006
Empower acquires a block of 401(k) and defined benefit plan businesses from Metropolitan Life Insurance Company and its affiliates as well as General American Life Insurance Company and New England Life Insurance Company. It also acquires U.S. Bank’s bundled, full-service defined contribution business.
2003
Empower acquires 401(k) administration subsidiary EMJAY Corp. and the group retirement business of Federated Insurance Companies.
1993
GWL&A establishes Financial Administrative Services Corporation (renamed FASCore, LLC), as a wholly owned subsidiary to provide recordkeeping and administrative services for retirement plans offered by other financial institutions.
1992
The Great-West Life Assurance Company (Great-West Life) completes the transfer of its U.S. operations to U.S. subsidiary GWL&A. GWL&A’s retirement business, now known as Empower, introduces a proprietary retirement plan recordkeeping platform.
1985
The company begins offering services to 401(k) defined contribution plans for private employers.
1983
Outgrowing its downtown Denver location, the company moves its U.S. headquarters to its current campus in Greenwood Village, Colorado.
1979
The formal process of splitting U.S. and Canadian operations begins. The company builds a new office complex in downtown Denver to house its U.S. headquarters.
1978
The company begins offering services to Section 457 deferred compensation plans for public sector employees in the U.S.
1962
The company begins offering services to Section 403(b) retirement savings plans for nonprofit organizations. U.S. customers account for half of Great-West Life’s annual sales.
1940
Empower begins offering services to tax-advantaged retirement savings plans for U.S. employers under Internal Revenue Code Section 401(a).
1907
The company, now known as GWL&A, is incorporated in Kansas as The National Interment Association.
1906
Great-West Life opens its first U.S. sales office in Fargo, North Dakota.
1891
The Great-West Life Assurance Company (Great-West Life) is incorporated in Winnipeg, Manitoba.
Notable Accomplishments / Recognition
Human Rights Campaign, 100 Equality Index leader in LGBTQ+ Workplace Inclusion 2023, 2024; Top Workplaces Financial Services Award 2023; The Denver Post and Harford Courant Top Workplaces 2023; Top Employers India 2022; DEI Disability Equality Index leader; Diversity & Inclusion Investment News 2020; DCIIA, Diversity & Inclusion Award nominee 2022.
Benefits
Our 401(k) matches up to 6%, and we offer no-cost financial planning and more.
Many of our departments offer remote and hybrid options along with flexible work hours.
Take advantage of paid parental leave, adoption assistance, fertility services, and more.
Tuition reimbursement.
Pet insurance.
Legal services.
Perks and discounts.