empower retirement fund options

The trademarks, logos, service marks and design elements used are owned by GWL&A or used with permission. Enrolling in an Empower Premier IRA is a simple, straightforward, low-cost way to invest. Please contact your Empower Retirement representative to determine what is available for your situation. Brokerage accounts are subject to EFSI review and approval. Need Help? 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. Funds may lose value. You may be curious about what life insurance covers and whether you should include an additional life insurance policy with your other financial assets. Online advice and the managed account service are part of the Empower Advisory Services suite of services offered by Empower Advisory Group, LLC, a registered investment adviser. Empower Retirement Plan Employee Login Need Help? 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 won't pay any initial or annual account fees, and can access more than 140 mutual fund options. Invest for retirement with access to a large selection of investment options, personalized resources and no-cost investment guidance. . The answer depends on whether you want a tax break now or later. The main benefit of a traditional IRA is that your investment is tax-deductible now you put pre-tax money into an IRA, and those contributions are not part of your taxable income. "1, 1 2013 Annual DCP Participant Study, conducted by Boston Research Group. Tennessee State Capitol We consider all your goals and give you guidance to help meet them. If you are a prospective Financial Professional, thank you for your interest in Empower Retirement. Transaction fees, where applicable, will be noted during online order entry or via your registered representative during broker-assisted trades. Consolidating multiple employer-sponsored retirement accounts can make it easier to monitor your retirement savings. You will then be asked to enter your PIN. Which type of account would you like to sign up or register for? Wells Fargo Bank, N.A. 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. Here is an illustrative timeline of how that would work. 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. Roth IRA Annuity: Setup a Roth IRA Annuity first. Securities, when presented, are offered and/or distributed by Empower Financial Services, Inc., Member FINRA/SIPC. The rest of this guide walks through that process step-by-step. We help your clients motivate their participants with personalized multichannel communications that encourage them to take action. 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. 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. 2. 2023 Empower Annuity Insurance Company of America. ETFs are not mutual funds. 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. But you should also speak to financial professionals from other companies to make sure youre making the best choice possible. 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. Securities offered or distributed through GWFS Equities, Inc., Member FINRA/SIPC and a subsidiary of Great-West Life & Annuity Insurance Company. It may be tempting to pull money out of your 401 to cover a financial gap. 1 Some employer plans require you to move your balance if the balance is below minimum thresholds. It's best to just keep it simple. An open architecture investment platform that includes nearly 8,000 funds, including over 2,000 zero revenue funds. This material is for informational purposes only and is not intended to provide investment, legal, advice or tax recommendations. In fact, Empower Retirement garners an A+ rating with the Better Business Bureau . 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. Do that nowthe market is on sale! Not all product offerings and services are available in all states or to all plan sizes and types. Unless otherwise noted, not insured by FDIC, NCUA/NCUASIF. You may lose money. Your financial life is not just about markets and returns. Use our 401 Early Withdrawal Costs Calculator first. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Money Market Fund. If youre happy with your plan, you can keep your savings there in most cases. A 401 rollover is the technical term for transferring the money in an old 401 account to another retirement account. All rights reserved. Your most recent pay stub may help in answering the questions. It's easy to open an Empower IRA It's the money you've been setting aside for your future. If 2050 is your expected retirement year, model your portfolio after the. 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. 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. With the exception of Putnam and Empower Investments, the fund companies listed are not affiliated with Empower Retirement, LLC or its affiliates. Which account would you like to log in to? Carefully consider the investment options objectives, risks, fees and expenses. Please call 855-756-4738 if you would like information on the other Empower IRA products that may be available to you. Unlike mutual funds, shares of ETFs are not individually redeemable directly with the ETF. Not all product offerings and services are available for all retirement plans. Read each carefully before investing. EMPOWER and all associated logos, and product names are trademarks of Empower Annuity Insurance Company of America. Roth IRA. Aug 2015 - Dec 20161 year 5 months. EFSI is an affiliate of Empower Retirement, LLC; Empower Funds, Inc.; and registered investment adviser Empower Advisory Group, LLC. Empower Financial Services, Inc. receives revenue sharing compensation on funds invested in the account default/sweep vehicle. This material is for informational purposes only and is not intended to provide investment, legal or tax recommendations or advice. 2023 Empower Annuity Insurance Company of America. ETFs are subject to risks similar to those of their underlying securities. Financial wellness & participant experience, Market timing and excessive trading policies. Unlike mutual funds, shares of ETFs are not individually redeemable directly with the ETF. Just buy that and set it and forget it. No annual account maintenance fee for accounts over $100,000. Healthcare costs and projections, if applicable, are provided by HealthView Services. A one-time $10 setup fee will be deducted from your account when you open an American Funds IRA. Unless otherwise noted: Not a Deposit | Not FDIC Insured | Not Bank Guaranteed | Funds May Lose Value | Not Insured by Any Federal Government Agency. Taking a reduction in benefits will affect an individual later in life when Long Term Care is needed. Not necessarily, although thats what most plans require. Which type of account would you like to sign up or register for? Get personalized guidance, straightforward solutions and actionable information that helps get you closer to your financial goals. Also Check: Opportunity Zone Investment Funds Vanguard. This allows you to save a total of $45,000 in 2023. Employment, Contracts, Practice Management. See how Empower is delivering an innovative experience that helps savers see their whole financial picture: anywhere and anytime, on any device. Roll your savings into an individual retirement account (IRA) to keep your savings tax deferred. Compare the main features of both here: We take all your investments and assets into account when building your portfolio and come with a game plan in helping you. If you are a more seasoned investor and would like to manage your own investments, then a Brokerage IRA may be for you. The Massachusetts Deferred Compensation 457 SMART Plan is a retirement savings program available for Commonwealth of Massachusetts state and municipal employees. EMPOWER and all associated logos, and product names are trademarks of Empower Annuity Insurance Company of America. Transaction fees may apply to certain mutual funds. 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 and all associated logos, and product names are trademarks of Empower Annuity Insurance Company of America. EFSI is an affiliate of Empower Retirement, LLC; Empower Funds, Inc.; and registered investment adviser, Empower Advisory Group, LLC. Review your investment choices and compare fees and plan provisions to see if it's as good an option as your current plan. Additional information may be obtained by calling 877-788-6261. Registration does not imply a certain level of skill or training. Choose our fully bundled option or use your local third-party administrator (TPA). 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. 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. The results may vary with each use and over time. Empower Financial Services, Inc. reserves the right to change and/or modify pricing. 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. Unlike mutual funds, individual shares of ETFs are not redeemable directly with the issuer. Please click here for the appropriate contact phone numbers. Actors are not PCAC or EAG clients. You need more tax diversification in retirement and the easiest way to do that for now is what peds said, $12k into two Roth IRAs for you and your wife for 2019 (you have until 4/15 to do this) and then another $12k for 2020. 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. Securities, when presented, are offered and/or distributed by Empower Financial Services, Inc., Member FINRA/SIPC. Your first decision: whether to open a traditional IRA or a Roth. 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. Retirement savings/ (Gross pay+ER contribution) = 20%+. All rights reserved. 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. You will now be responsible for the administrative account fee if your employer previously paid this amount. 2023 Empower Annuity Insurance Company of America. 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. The investment options are the same in both the 401 (k) and the 457. 1-855-756-4738 4 Additional transaction fees may apply depending on trading activity. 5 Online advice and the managed account service are part of the Empower Advisory Services suite of services offered by Empower Advisory Group, LLC, a registered investment adviser. You will then be prompted to change the temporary PIN to a 6 to 8 digit PIN the next time you log onto the system. All visuals are illustrative only. Already have an IRA? Contact the record keeper of your old employer-sponsored retirement plan to request a rollover. Securities, when presented, are offered and/or distributed by Empower Financial Services, Inc., Member FINRA/SIPC. You may be able to transfer your IRA balance into your new plan if the new plan accepts rollovers from IRAs. Unless otherwise noted: Not a Deposit | Not FDIC Insured | Not Bank Guaranteed | Funds May Lose Value | Not Insured by Any Federal Government Agency. The fees on your passive investment options are great - 0.16% for the target date fund. Learn more about how the Empower Premier Investment Account could be a perfect match for you. You'll be able to choose from a wide selection of mutual funds and stocks that match your personal goals and investment style. This material is for informational purposes only and is not intended to provide advice, investment, legal or tax recommendations. Once youre ready to take the next step, read on for some tips and tricks. 3 The first one thousand trades (1,000) placed online each calendar year are $0; thereafter, each online trade will be charged $6.95. 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 thousands of mutual funds, exchange-traded funds (ETFs), individual equities and fixed-income securities.4, Available through My Total Retirement (no-obligation 90-day trial)5, Access to professional guidance from an advisor when you want it, Low-cost or complimentary comprehensive financial planning with a financial professional who is certified, No setup, administrative, closure or transaction fees1, No annual maintenance fee for account balance of $100,000 or greater, Commission-free online stock and ETF trading up to the first 1,000 trades placed online each calendar year; $6.95 per trade thereafter4. 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. Low account fees and a range of investment choices 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. Learn more, You May Like: How Do You Take Money Out Of 401k. EFSI is an affiliate of Empower Retirement, LLC; Empower Funds, Inc.; and registered investment adviser, Empower Advisory Group, LLC. If your employer terminates your retirement plan, or if you become disabled, you may be given an opportunity to take a distribution. Transfer to an IRA and take control of your retirement savings. You'll be able to choose from a wide selection of mutual funds and stocks that match your personal goals and investment style. Please consult with your investment advisor, attorney and/or tax advisor as needed. 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. HealthView Services is not affiliated with GWFS Equities, Inc. Empower Retirement does not provide healthcare advice. Generally, an amount already invested in American Funds can be rolled over into an American Funds IRA without paying any up-front sales charges. Be aware that certain mutual funds may be subject to separate and additional redemption fees imposed by the particular fund. As an Empower client you always have access to: See a complete picture of your accounts in one place with a single login. 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. Weve made it our mission to make the 401-to-IRA rollover process easy for everyone. You will see a quarterly deduction on your statement for $12.50. Existing participants should contact Empower Retirement Services for a Rollover Statement. 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. More than 300 mutual fund families, thousands of individual mutual funds and stocks as well as more than 1,400 ETFs to choose from. Transaction fees may apply to certain mutual funds. Before you decide whether Empower is right for you, its a good idea to do some research. 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. Discussions with Retirement Professionals may lead to a referral to affiliates including Wells Fargo Bank, N.A. ETFs are not mutual funds. 1 The first one thousand trades (1,000) placed online each calendar year are $0; thereafter, each online trade will be charged $6.95. Recommended Reading: How Do I Invest In The Nasdaq. Our investment account offers another way to invest for your future and meet your goals outside your retirement savings. 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.

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