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Business Profile

Employee Benefits Insurance

Empower Retirement

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Employee Benefits Insurance.

Complaints

This profile includes complaints for Empower Retirement's headquarters and its corporate-owned locations. To view all corporate locations, see

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Empower Retirement has 6 locations, listed below.

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    Customer Complaints Summary

    • 571 total complaints in the last 3 years.
    • 188 complaints closed in the last 12 months.

    If you've experienced an issue

    Submit a Complaint

    The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

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    Complaint status

    Complaint type

    • Initial Complaint

      Date:10/31/2024

      Type:Order Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Dear BBB, the purpose of this letter is to request your immediate assistance with a Hardship request that we made on 9-04-24. We have been involved in a dispute with Empower, for approximately 6 weeks in an effort to withdrawal the remaining amount of funds we have requested. On 10/4/24 $912.88 was deposited into our acct. We have yet to receive the remaining balance of $9,087.12. We have spoken to ***** who is a supervisor at Empower with customer service and have been told by her that the case is in the processing department, however the final approval is delayed because the approval department has a problem with the lack of company letterhead from my husband's company manager. We have provided you a copy of the letter from a past hardship request that was approved in 2023. The letter is authored by the same manager and does not contain a company letterhead which they approved under the same circumstances. During this current economic hardship, we are facing overdue utility bills which we cannot afford to pay at this time. We are very confused with their reasoning for delaying and denying our current request for hardship funds, as they had approved an identical request in 2023 under the same circumstances. We are honest Californians who need assistance during this financially challenging time in our country.

      Business Response

      Date: 11/25/2024

      Thank you for bringing BBB Complaint #********, dated October 20, 2024, to our attention. Upon conducting a thorough review of the situation, we responded directly to the customer in our letter dated November 25, 2024. While we are unable to share the details of this response with the BBB due to privacy concerns, the customer may share this response with the ******************** at their discretion. We again appreciate you bringing this matter to us for review.

      Sincerely,

      Empower

    • Initial Complaint

      Date:10/24/2024

      Type:Product Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Closed and moved my 401K without consent or warning. LOSS OF $624.72.

      Business Response

      Date: 11/04/2024

      Thank you for bringing Better Business Bureau Complaint # ******** to our attention. Upon conducting a thorough review of the situation, we responded directly to the customer in our email/letter dated October 25, 2024. While we are unable to share the details of this response with the BBB due to privacy concerns, the customer may share this response with the ******************** at their discretion. We again appreciate you bringing this matter to us for review.

    • Initial Complaint

      Date:10/22/2024

      Type:Service or Repair Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I was recently needing to do a big project at home and because I am a single mom I didn't have enough money. So I filled out a hardship withdrawal with Empower retirement. I know that taking out of my 401(k) means that I may be penalized by the *** and I need to tax it. For some reason, they gate keep our money, Like we're a little children that can't Make up their own mind about any future consequences. Never in my life have I dealt with a 401(k) provider that Is unprofessional as you. I am an adult. I understand the consequences of taking money out of my 401(k) and I'm a big girl and can pay any taxes that I need to if that's the case. ALL OTHER 401k companies don't do this. I'm not even playing when, After the seventh time of having to resubmit it, They told me I need to remember an exact date of when the damage happened. That's ridiculous. I am going to talk to my employer if you got a way to take all my money of there and I'm just gonna put it in a CD. You have no right to tell me NO, and Other people have had the same experience at my job. They're giving the option for us to change to a different company this open enrollment. I know at least 50 people that despise in empower and will be leaving to. If my roof gets worse because of you and I get more damage Because of your decision, I will make sure something happens to you

      Business Response

      Date: 11/05/2024

      Thank you for bringing Better Business Bureau Complaint # ******** to our attention. Upon conducting a thorough review of the situation, we responded directly to the customer in our letter dated November ******. While we are unable to share the details of this response with the BBB due to privacy concerns, the customer may share this response with the ******************** at their discretion. We again appreciate you bringing this matter to us for review. 

    • Initial Complaint

      Date:10/22/2024

      Type:Service or Repair Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Around the first week of August I applied for a part time job through what I thought was **********. I spoke on the phone with and provided personal information to a man that was representing the company I applied with. On August 29, 2024 I received a loan package with a check from my Empower retirement account. I called ********************** and reported the fraud. They said the person who took out the loan called from my phone number and verified a two step code. I explained my cell phone had been compromised from the previous department of labor job scam a couple weeks earlier and they would have access to my phone as well as my voice in order to perform a voice call since I provided them all personal information they asked for. Someone had successfully took out a 401k loan and tried to have it overnighted through mail to intercept. I contacted ******* whom confirmed a person can use call forwarding to have a live call and phone number get past call center security. I called Empower, whom told me not to report this to the police and that they would investigate the fraud and let me to believe everything would be reversed. They asked us to send the check back to them, I sent it back certified mail so I can confirm receipt. On September 9th I followed up and they told me everything was taken care of. As of today, Empower is holding me responsible for this loan and will not reverse the transaction. They have taken two loan payments out of my paycheck causing hardship in my finances. They tell me the only way to receipt this, is to reissue a check and sign and deposit it and repay the loan. I advised them I am not participating in a fraudulent transaction and paying hundreds of dollars in loan origination fees and finance charge because I am a victim of fraud. I have filed a police report and have contacted the ***. Empower says since the phone number, voice and code verification was completed I am responsible for the loan even though my phone was comprised on several occasions.

      Customer Answer

      Date: 10/25/2024

      I have called your call center eleven times now since this incident began and absolutely no one has been able to help. Everyone gives a difference answer, we have been hung up on three times, and we can not speak directly to the investigation team or a member of management.,

      Business Response

      Date: 11/01/2024

      Thank you for bringing BBB Complaint # ******** dated 10/22/2024 to our attention. In order to protect the privacy of our account holders, we will research the situation and will respond directly to Mr. ******** We again appreciate you bringing this matter to us for review. 

      Customer Answer

      Date: 11/05/2024

       

      Empower Retirement sent this letter reminder to me today, although they received check back to them 2 months ago and is sitting somewhere in someone's office. Empower sent this letter to me today, although they have possession of the check and have had it for two months already. Not sure how the left hand doesn't know what the right hand is doing. This is fraud and it should have been taken care of months ago. 

       

      Customer Answer

      Date: 11/07/2024

      Would you please update my file that I called Empower and was told this case was assigned to "JP" left a message yesterday 11/5 with no return call. I called today and was hung up on. I called back and spoke to agent *** and she said I am being held responsible for this but would not provide me a date of resolution after the lette I faxed them, per their request.  She was unable to answer any questions whatsoever and then sent me to JP's voicemail again without even letting me know or asking my permission. I have received no official letter regarding the findings in this case, nor has anyone been able to assist via phone. Empower makes it next to impossible to resolve anything. Hold times and phone agents relay wrong information on each phone call. Empower does not allow you to speak to a manager or supervisor and this JP case investigator told me two weeks ago he didnt have anything to do with this case but now its apparently assigned back to him. Doesnt make any sense at all, no one at Empower knows whats going on or can resolve anything. 

      Business Response

      Date: 11/15/2024

      Thank you for following up on BBB Complaint # ********.  A response letter concerning this matter was sent to the customer's address of record by express delivery on November 12, 2024, and delivered the next day.  

      Customer Answer

      Date: 11/15/2024

       
      Complaint: 22457435

      I am rejecting this response because:

      Empower has made little effort to resolve this issue. Upon receipt of their letter stating they they are no longer speaking to me verbally regarding this matter, but then telling me to call them to discuss my check issuance and balance remaining, I contact my employer, ***** who agreed to contact Empower to ask to waive fees charged to me through no fault of my own. Still waiting for Empower & Astec as of the time of this message reply as NOTHING HAS BEEN RESOVLED YET and another payment was taken out of my check. 

      Sincerely,

      *********** *******

      Business Response

      Date: 12/20/2024

      Thank you for bringing Better Business Bureau Complaint # ******** to our attention. Upon conducting a thorough review of the situation, we responded directly to the customer in our letters of 11/12/2024, 11/26/2024, and 12/19/2024. While we are unable to share the details of these responses with the BBB due to privacy concerns, the customer may share the responses with the ******************** at their discretion. We again appreciate you bringing this matter to us for review. 

    • Initial Complaint

      Date:10/21/2024

      Type:Service or Repair Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Requested a hardship withdraw for medical reasons on 9/25/24. Keep getting run around and different requests for additional information when all requests should have been given at the start. Now; I have not been able to begin treatment and have severe depression, anxiety and pain. Every time they ask for info, I give it, then they come back asking for more. Its been too long and they are not working within a timely mannner for medical reasons.

      Business Response

      Date: 10/25/2024

      Thank you for bringing BBB Complaint # ******** dated 10/22/2024 to our attention. In order to protect the privacy of our account holders, we will research the situation and will respond directly to Ms. ******** We again appreciate you bringing this matter to us for review

       

       

    • Initial Complaint

      Date:10/18/2024

      Type:Product Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      In 2022, ******** completed a transfer and has verified that it was cashed out by ********** retirement at ************************************************************************************************* on December 14th. The date they sent the check was December 8th, 2022. ********** (now Empower) says they have no record of the transfer from Vanguard on file and Im missing over $4,200 that seems to have just disappeared. Ive called Empower multiple times and they have basically told me theres nothing they can do even though theyre the ones that cashed the check, and to call ********. ******** has done everything they can do and ********** employees so far have basically been careless about the situation and just keep saying sorry for the inconvenience, but offering no resolution or support. I just want to know where my money went when it was cashed.

      Business Response

      Date: 10/31/2024

      Thank you for bringing BBB Complaint # ********. dated October 18, 2024, to our attention. In order to protect the privacy of our account holders, we will research the situation and will respond to the customer directly in writing. We again appreciate you bringing this matter to us for review.

    • Initial Complaint

      Date:10/15/2024

      Type:Service or Repair Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      Requested a withdrawal because they were unable to rollover my funds and they wrote out a fraudulent check to me and I was unable to cash it out anywhere. So then I was told they would reissue a check or send funds direct deposit and now they are saying that the check was deposited on 10/1 but I called the bank and they actually closed my account because they were unable to verify the check empower gave me and the check is fraudulent. The check was not cashed . So now they refuse to give me my money .

      Business Response

      Date: 10/25/2024

      Thank you for bringing BBB Complaint #********,dated October 15, 2024, to our attention. We are conducting a thorough review of the issue and will provide the customer with a written response once our review is concluded. While we are unable to share the details of this response with the BBB due to privacy concerns, the customer may share this response with the ******************** at their discretion. We again appreciate you bringing this matter to us for review.

      Sincerely,

      Empower

    • Initial Complaint

      Date:10/15/2024

      Type:Product Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I submitted a withdrawal request from my *** on 10/8. My confirmation number is ********** - The submission confirmation states that processing typically takes 1 business day - The money still has not been deducted from my account and sent to me after 5 business days.

      Business Response

      Date: 10/16/2024

      Thank you for bringing BBB Complaint # 22422751 dated October 15, 2024 to our attention. In order to protect the privacy of our account holders, we will research the situation and will respond directly to Mr. ******* We again appreciate you bringing this matter to us for review. 

    • Initial Complaint

      Date:10/13/2024

      Type:Product Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      I became a beneficiary of a portion of my ***** *** with ********** when she died over 3 years ago. Due to her age, I am required to take an RMD annually. The first 3 years this was a five minute process. Then ********** retirement was taken over by Empower. I have been trying to make a withdrawal since May,2024 and been forced to submit and resubmit the same forms, Never being notified if there is a small mistake and how to resolve it. After several attempts and talking with more than one customer service **** who told me that they have everything needed to process my withdrawal, it is never resolved, and no money is forthcoming. I believe they are attempting to steal over $32,000 0f MY money

      Business Response

      Date: 10/25/2024

      Thank you for bringing BBB Complaint #********,dated October 13, 2024, to our attention. We are conducting a thorough review of the issue and will provide the customer with a written response once our review is concluded. While we are unable to share the details of this response with the BBB due to privacy concerns, the customer may share this response with the ******************** at their discretion. We again appreciate you bringing this matter to us for review.

      Sincerely,

      Empower

    • Initial Complaint

      Date:10/11/2024

      Type:Product Issues
      Status:
      Answered
      Resolved:
      The complainant verified the issue was resolved to their satisfaction.
      Unresolved:
      The business responded to the dispute but failed to make a good faith effort to resolve it.
      Answered:
      The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
      Unanswered:
      The business failed to respond to the dispute.
      Unpursuable:
      BBB is unable to locate the business.
      When I transfer $ from my ****** account into ******************** brokerage account, there is no "pending transfers" or any way to see that the transfer is pending. When you click on "cancel pending transfers" (which is the only option that has the word pending) but is NOT what I want to do, I want to see that my transfer is pending. When I click on cancel pending transactions, it says there are none. The representative from empower says they can see the pending transaction but I cannot. This seems illegal at worst and non-transparent at best. It is my money and they manage it and do not allow me to see my transactions.This can go on for many days and the only way to establish if the transfer was initiated is to call empower on the phone.I want empower to include in their website a "pending transactions" so that I can see where my money is. They refuse to do this.

      Business Response

      Date: 10/29/2024

      Thank you for bringing BBB Complaint # ******** dated October 11, 2024, to our attention. In order to protect the privacy of our account holders, we will research the situation and will respond to the customer directly in writing. We again appreciate you bringing this matter to us for review.

      Sincerely,
      Empower

    Empower Retirement is NOT a BBB Accredited Business.

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