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Empower was created in 1891, when parent company Great-West Lifeco was founded as an insurance provider on the Canadian prairie. [1] After serving more than a century of expansion and a profound evolution of service offerings, the modern iteration of Empower was launched in 2014, when the retirement businesses of Great-West Life combined the record-keeping services of Great-West Financial ...
In July 2020, Canadian-owned, Denver-based Empower Retirement announced it would be purchasing MassMutual's retirement plan business for $4.4 billion plus a contingency payout. [76] In April 2022, Massachusetts-based Fidelity Investments announced it would be the record keeping service provider of MassMutual's corporate 401K plan. [77]
Individual retirement account. An individual retirement account[1] (IRA) in the United States is a form of pension [2] provided by many financial institutions that provides tax advantages for retirement savings. It is a trust that holds investment assets purchased with a taxpayer's earned income for the taxpayer's eventual benefit in old age.
Today Personal Capital, a fintech company that had attracted more than $265 million in private funding, announced that it is selling itself to Empower Retirement, a company that provides ...
Meanwhile, many middle-class workers are envisioning retirements that could stretch to 25 years or more, given their expectation of living to a median age of 90. A longer retirement requires ...
Continue reading → The post Empower Joins Auto-Portability Consortium to Accelerate Retirement Savings appeared first on SmartAsset Blog. Empower, one of the leading providers of financial ...
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