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Empower acquired the heritage SunTrust 401(k) recordkeeping business, which includes approximately 300 retirement plans consisting of more than 73,000 plan participants and $5 billion in plan assets. On September 29, 2020, Empower announced that it would acquire the retirement plan recordkeeping business of Fifth Third Bank.
A 401 (k) plan is a tax-advantaged retirement savings tool offered by employers that allows eligible employees to contribute a portion of their salary up to a set amount each year. Unlike ...
For instance, the median holding in a retirement account for all workers aged 55–64 is only $15,000, but the average worker needs $600,000 to supplement Social Security and maintain their ...
The New Hampshire Retirement System (NHRS) is a contributory, public employee defined benefit pension plan for the state of New Hampshire.The plan is qualified under section 401(a) of the Internal Revenue Code, and provides lifetime pension benefits to eligible members, which are determined at retirement under formulas prescribed by state law (RSA 100-A).
The Los Angeles County Employees Retirement Association (LACERA) is an independent Los Angeles County agency that administers and manages the retirement fund for the County and outside Districts (Little Lake Cemetery District, Local Agency Formation Commission for the County of Los Angeles, Los Angeles County Office of Education, and South Coast Air Quality Management District).
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The Massachusetts Mutual Life Insurance Company, also known as MassMutual, is a Springfield, Massachusetts -based life insurance company. MassMutual provides financial products such as life insurance, disability income insurance, long term care insurance, retirement/401 (k) plan services, and annuities. Major affiliates include Barings LLC, and ...