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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 2012, it managed defined benefit pension plans for 156,563 civil servants (members), including 56,752 retirees, making it the largest county retirement system in the United States. [ 4 ] [ 5 ] In 2018, LACERA's net assets were worth US$55.8billion .
Empower Retirement is a retirement plan recordkeeping company based in Greenwood Village, Colorado. [32] It is the second-largest retirement plan provider in the US. [33] The Great West Life Assurance Company is Canada's biggest insurance company.
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The reason, Ghilarducci says, is partly due to the current retirement system, which places the onus on workers to manage their own savings decisions through their 401(k)s and similar plans.
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