We are excited about the opportunity to reach new customers and serve even more Americans on their journey toward creating a secure retirement., In Empower, we are pleased to have found a strong, long-term home for MassMutuals retirement plan business, and believe this transaction will greatly benefit our policyowners and customers as we invest in our future growth and accelerate progress on our strategy, says Roger Crandall, MassMutual chairman, president and CEO. Unless otherwise noted: Not a Deposit | Not FDIC Insured | Not Bank Guaranteed | Funds May Lose Value | Not Insured by Any Federal Government Agency. Learn more about reprints and licensing for this article. When did Empower buy MassMutual? Empower launches national ad campaign to elevate importance of retirement savings. 6) Pensions & Investments 2020 Defined Contribution Survey Ranking as of April 2020. This acquisition immediately broadens our product offerings, further diversifies our distribution capabilities, and generates additional earnings enabling us to help even more people secure their future and protect the ones they love.. 3) Haven Life Insurance Agency, LLC is an affiliate of MassMutual. Empower enters into a 21-year deal for naming rights to the Broncos stadium, known as Empower Field at Mile High. The MassMutual retirement plan business comprises 26,000 workplace savings plans through which approximately 2.5 million participants have saved $167 billion in assets.1 It also includes approximately 2,000 employees affiliated with MassMutuals retirement plan business who provide a full range of support services for financial professionals, plan sponsors and participants. 1 Pensions & Investments 2020 Defined Contribution Survey Ranking as of April 2020. Empower named to InvestmentNews 2020 Excellence in Diversity and Inclusion. Draw your signature, type it, upload its image, or use your mobile device as a signature pad. In a joint statement the companies said the acquisition will capitalize on both firms expertise, provide technological excellence and deep product capabilities, and create scale to the benefit of retirement plan participants and their employers. GWL&As retirement business, now known as Empower, introduces a proprietary retirement plan recordkeeping platform.9>. Some of those sources are drying up, and many record keepers are changing as fee disclosure and transparency increase. Any New York business will be reinsured by Great-West Life & Annuity Insurance Company of New York.
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