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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. [13] In September 2020, the company also acquired the retirement plan business of MassMutual for $4.4 billion. [14]

The State Employees’ Retirement System covers Civil Service employees, appointed officials in the executive branch, and employees of the legislature and judiciary branch. A ten-member board oversees the State Employees’ Retirement System. As of September 30, 2017, the system serves 10,850 active members and 59,684 retirees and beneficiaries.

For example, If you’re 25 and have $5,000 socked away in your retirement plan, assuming a return of 5%, your account could be worth $38,808 when you retire at your full retirement age of 67.