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In June 2020, the company announced its acquisition of Personal Capital, an investment and wealth management adviser, for $825 million.  As of June 2020, Empower has administered more than $1.0 trillion in assets for 12.0 million individuals over 67,000 Organization retirement plan participants. 
In the United States, a 401 (k) plan is an employer-sponsored, defined-contribution, personal pension (savings) account, as defined in subsection 401 (k) of the U.S. Internal Revenue Code.  Periodical employee contributions come directly out of their paychecks, and may be matched by the employer.
The pension administration ensures that an organizational retirement plan neither discriminates against lower-level employees nor becomes an abusive tax shelter. Stress tests include the average benefits test, average deferral percentage, and minimum coverage.
The 401(k) plan, which for-profit employers offer, is a popular way to save by directing a portion of every paycheck into this retirement fund. Some companies will even match your...
The general 401 (k) plan gives employees an incentive to save for retirement by allowing them to designate funds as 401 (k) funds and thus not have to pay taxes on them until the employee reaches retirement age. In this plan, both the employee and his/her employer may make contributions to the plan.
Now, more than ever, investing is an important part of retirement planning. And one of your investment options as an employee might be a 401(k) plan. Participating employers offer 401(k)s for ...
Despite the fact that the participant in a defined contribution plan typically has control over investment decisions, the plan sponsor retains a significant degree of fiduciary responsibility over investment of plan assets, including the selection of investment options and administrative providers. By country [ edit]