empower retirement fund options empower retirement fund options

They do not reflect actual investment results and are not guarantees of future results. ET. Non-U.S. residents are subject to country-specific restrictions. Carefully consider the investment options objectives, risks, fees and expenses. Get personalized guidance, straightforward solutions and actionable information that helps get you closer to your financial goals. All rights reserved. A top peer is defined as an individual who is at the 90th percentile of the selected age band, salary range and gender. You may be able to transfer your IRA balance into your new plan if the new plan accepts rollovers from IRAs. Healthcare costs and projections, if applicable, are provided by HealthView Services. Discover our suite of products and services driven by innovation to be better, smarter and simpler. Defer benefits until the full Social Security retirement age or age 70. All visuals are illustrative only. EFSI is an affiliate of Empower Retirement, LLC. If you have a traditional 401, those contributions were also made pre-tax and the transfer is simple. If youve decided to leave your current job for another, you will need to decide what to do with the money that you have invested in your current companys 401 plan. ETFs are a type of exchange-traded investment product that must register as either an open-end investment company (generally known as "funds") or a unit investment trust. A rollover IRA is an individual retirement account often used by those who have changed jobs or retired. We offer the Empower Premier Investment Account, which offers help and guidance on your investments, and the Empower Investment Account, which makes it easy to research and trade investments online. An individual can contribute up to $7,000 annually, depending on the persons age. As you begin to plan for retirement, be sure to make good use of tax-advantaged savings like the Texa$aver program. 3 The first one thousand trades (1,000) placed online each calendar year are $0; thereafter, each online trade will be charged $6.95. 3 This option will mean your retirement account will be taxable income. All rights reserved. Roth IRA. The 401 (k) plan lets you take control of your retirement by investing in fund options of your choice. Empower Financial Services, Inc. reserves the right to change and/or modify pricing. 4 Investment returns will fluctuate and are subject to market volatility so that an investors shares, when redeemed or sold, may be worth more or less than their original cost. EFSI is an affiliate of Empower Retirement, LLC; Empower Funds, Inc.; and registered investment adviser Empower Advisory Group, LLC. Transaction fees may apply to certain mutual funds. Move your retirement savings to your new employer's plan2. What options they have when they leave employment (based on their unique needs and specific . Traditional IRA. Do-it-myself investor who wants access to an advisor when they need one Market timing and excessive trading policies. Empower is the number one choice of industry professionals1 I currently have had my 4 accounts all in the JP Morgan Smart Retirement 2050 fund which they were all automatically placed in when I started working. Please reach out to us via the method you prefer. On August 1, 2022, Empower announced that it is changing the names of various companies within its corporate group to align the names with the Empower brand. HealthView Services is not affiliated with GWFS Equities, Inc. Empower Retirement does not provide healthcare advice. 4 Additional transaction fees may apply depending on trading activity. A rollover IRA allows individuals to move their employer-sponsored retirement accounts without incurring tax penalties and remain invested tax-deferred. This material is for informational purposes only and is not intended to provide investment, legal or tax recommendations or advice. ETFs are not mutual funds. You will now be responsible for the administrative account fee if your employer previously paid this amount. GWFS Equities, Inc. registered representatives may also be investment adviser representatives of GWFS affiliate, Advised Assets Group, LLC. OR Both PCAC and EAG are registered investment advisers with the Securities and Exchange Commission (SEC) and subsidiaries of Empower Annuity Insurance Company of America. Brokerage services such as clearing, settlement, custody and other similar functions are provided by Pershing LLC, Member FINRA/NYSE/SIPC and a wholly owned subsidiary of The Bank of New York Mellon Corporation. Securities, when presented, are offered and/or distributed by Empower Financial Services, Inc., Member FINRA/SIPC. Ultimately we build our Empower Premier Investing Account around you. Reviewing Quarterly Statements Empower Retirement will provide you with quarterly individual account statements. Withdraw funds - but be aware of taxes and potential IRS penalties. Empower Financial Services, Inc. may receive a fee from mutual fund companies participating in the Empower Brokerage service for providing certain distribution, administrative and shareholder services. More than 300 mutual fund families, thousands of individual mutual funds and stocks as well as more than 1,400 ETFs to choose from. Do-it-for-me investor who prefers a professionally managed account, Knowledgeable do-it-myself investor who understands the risks associated with the investments available through a brokerage account, Choose from a range of mutual fund options for easy diversification, Choose from thousands of mutual funds, exchange traded funds (ETFs), individual equities and fixed-income securities.4, Available through My Total Retirement5 (no cost), Access to professional guidance from an advisor when you want it, No setup, administrative, closure or transaction fees3, Commission-free online stock and ETF trading up to the first 1,000 trades placed online each calendar year; $6.95 per trade thereafter6, Optional debit card or check-writing features. There are typically little to no contribution limits with a flexible-premium annuity. Participants with Empower Retirement options require clients to be sure of what they are doing on the company website before they make any major changes to their investment portfolios. EFSI is an affiliate of Empower Retirement, LLC; Empower Funds, Inc.; and registered investment adviser, Empower Advisory Group, LLC. Market timing and excessive trading policies, How asset consolidation may simplify their overall savings strategy and provide a more accurate retirement income projection, What options they have when they leave employment (based on their unique needs and specific circumstances). 2 Fund share classes available through Empower Select do not pay revenue sharing, such as 12b 1 payments, from the fund. Online Advice and My Total RetirementTM are part of the Empower Advisory Services suite of services offered by Empower Advisory Group, LLC, a registered investment adviser. Just buy that and set it and forget it. IMPORTANT: The projections, or other information generated on the website by the investment analysis tool regarding the likelihood of various investment outcomes, are hypothetical in nature, do not reflect actual investment results and are not guarantees of future results. The rest of this guide walks through that process step-by-step. WellsTrade and Intuitive Investor accounts are offered through WFCS. The table below shows the differences between a 401k and an indexed universal life insurance policy. This could negatively impact your overall savings. A retirement income fund is a type of balanced fund that aims to generate income from stock dividends and/or bond interest. There is also an annual custodian fee . Brokerage accounts are subject to EFSI review and approval. Whether youre saving for a home purchase, planning for college expenses or adding to your existing retirement savings, an investment account provides a great way to keep investing if youve reached the contribution limits in your retirement accounts and want to continue investing toward other financial goals. You may be curious about what life insurance covers and whether you should include an additional life insurance policy with your other financial assets. Ask your sales representative to review our comprehensive services. Empower does not receive compensation from Personal Capital for any referrals. Your State of Texas retirement plan does not include automatic cost-of-living adjustments . Unlike mutual funds, individual shares of ETFs are not redeemable directly with the issuer. The consensus is that taxes will only increase in the future. Long Term Care costs are costly, and a 70% chance a person will need the care. An investment in a Money Market Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. A flexible solution that may help you bring to life the retirement you imagine. Please contact your Empower Retirement representative to determine what is available for your situation. There is no guarantee provided by any party that participation in any of the advisory services will result in a profit. 2. Income generated from a Roth IRA Annuity will be tax-free as long you follow the IRS guidelines. All features may not currently be available and are subject to change without notice. The main disadvantage is that you have to pay taxes on the money and its earnings later, when you withdraw them. The 401(k) plan lets you take control of your retirement by investing in fund options of your choice. 2022 Empower Retirement, LLC. Which account would you like to log in to? No fees and low minimums to open an account 1. Investment returns will vary based on market conditions and volatility, so that an investor's shares, when redeemed or sold, may be worth more or less than their original cost. Carefully consider the investment objectives, risks, fees and expenses of the annuity and/or the investment options. When you need it, it is tax-free, said Rain. Or, when you are considering rolling money over from a 401 to an IRA, you may wish to roll over only a portion of your retirement savings and take the rest in cash. You can invest confidently online with a diversified selection of mutual funds, easy-to-use investment tools and personalized guidance from an Empower advisor when you want it. Online advice and the managed account service are part of the Empower Advisory Services suite of services offered by Empower Advisory Group, LLC, a registered investment adviser. Empower is just the recordkeeper. A guaranteed retirement plan is a type of investment account that offers a guaranteed "stream of income" during retirement. Fund this annuity contract first and fund other annuities after the maximum contributions are met. Empower Select is celebrating four years of helping grow organizations by delivering a value-focused retirement plan. If you are a more seasoned investor and would like to manage your own investments, then a Brokerage IRA may be for you. All rights reserved. My hospital uses Empower Retirement for our 401k, 403b, 457b, 457f accounts. 2023 Empower Annuity Insurance Company of America. Compare Quotes From Top Companies and Save, Recommended Reading: Why Is Socially Responsible Investing Important. The Empower Premier Investment Account is intended for knowledgeable investors who acknowledge and understand the risks associated with an investment account. Empower Retirement PO Box 173764 Denver, CO 80217-3764 Tennessee Department of Treasury. ETFs are not mutual funds. 1 Other account fees, fund expenses, brokerage or service fees may apply. Empower Cost Empower's expense ratios range from 0.25% to 0.75% for the various funds you can invest in with their 401k. Pursuant to a solicitation agreement, Empower may refer eligible customers to Personal Capital. The investment options are the same in both the 401 (k) and the 457. It joins other industry leaders Fidelity and Vanguard in joining the consortium in an effort to help drive auto-portability, which the group believes could drive an extra $1.5 trillion additional .