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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

    • 567 total complaints in the last 3 years.
    • 182 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:07/12/2024

      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.
      Ive been receiving my pension for over 25yrs which was previously administered by ********** as May 2024 Empower retirement took over and my pension payments stopped. I have been calling Empower since May 3rd, 2024 (my 1st call to them) to find put what happened to my pension. Every time I call, ** being told different responses. As of today, I have yet to receive my pension. Its now, 3 months I havent received my pension and im falling behind on my bills and im an 88yr old man. My stepdaughter who had been helping me with the calls, has requested to speak with a supervisor on 4 different occasions and is always being told a request will be sent and can expect a call back within 48 hrs. We never received a call back. It has taken over 20 calls to Empower, where I was last told that they will be issuing my checks and I should expect to receive them today 7/12/24. I went this morning to the bank and the was not deposited. This has been the worst experience with this company and the transition. This Company has no empathy or customer service that its supposed to have.

      Business Response

      Date: 07/18/2024

      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 July *******. 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:07/11/2024

      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.
      About 5 years ago I moved my investments to ***************** now Empower. Pershing is the banking institution Empower uses. I received paper statements for one account, an inherited *** but not the 4-5 other accounts held by ************************** I attempted to change that one statement to paperless, but both ******** and **************** kept referring me to the other institution. I eventually stopped trying to resolve the issue. Within a year or so my broker opened a ****************** (***) on our behalf. All transactions are executed by Empower with The ****************************** I never received a paper statement for the *** account. Late in 2023 or early 2024 I received notification that there would be a $2 per month paper statement fee. Again I tried to enroll in paperless statements but could not without assistance, the option was not available to me online for the inherited ***. ******** referred me to Empower and Empower cited user error referring me back to the Pershing website. When the paper statement fees went into effect I was shocked to see charges for the inherited *** and the ******************. I have never received a paper statement for the ***. I again contacted Empower. Empower eventually determined that the inherited *** was not transitioned to the same user ID as my other accounts and they had to make that happen. I believe that account issue is resolved, but I find the charges should be refunded due to their lack of response to my inquiries citing user error without looking into it. The *** account issue is not resolved. After a many calls to Pershing I was finally informed that I am not an authorized user on my ***. The broker at the time created the account and did not included my husband or myself as users. Because of that ******** will not discuss the account with me. I notified Empower that I cannot enroll in paperless statements and requested a refund for the associated fees. I was denied due to user error.

      Business Response

      Date: 07/15/2024

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

      Customer Answer

      Date: 07/20/2024

       
      Complaint: 21973437

      I am rejecting this response because: I have not been contacted by Empower. I would like the complaint to remain open. 

      Sincerely,

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

      Business Response

      Date: 07/29/2024

      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 July 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. 

      Customer Answer

      Date: 08/02/2024

       
      Complaint: 21973437

      I am rejecting this response because:
      I received a letter from Empower dated 7.25.24 declining to refund the fees I have been charged stating they were charged by Pershing so they were not responsible and I had been warned that fees would be imposed for accounts enrolled in paper statements. Empower referenced an email I sent on 6.12.24.

      i find this unacceptable as they are failing to acknowledge the email I sent on 3.14.24 stating that I had contacted ******** to discontinue paper statements and i was told by ******** to contact Empower. It was a ***************** now Empower employee that created an account without listing me as an authorized user and selecting a mailing address in another state. Thats all Pershing would share with me. I was not aware of the paper statements because they were not mailed to me and I did not have access to the account to fix it. 
      Pershing may have charged the fee, but Empower should take responsibility for their employees decisions as well as their failure to acknowledge my issue in a timely manner. Had they provided basic customer service rather than dismissing my issues as user error all of this could have been resolved quickly, easily and well within the window to avoid incurring fees in the first place.
      Sincerely,

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

    • Initial Complaint

      Date:07/11/2024

      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.
      Empower took over my 401K from *********** Per info from *********** I did not have to do anything. When I received my RMD from my 401K, Empower did not take out any federal withholding. ********** had been withholding specific percentages for my RMD. A person at Empower told me it was not required. Per the federal form W4P, if this form is not filed with Empower, they are required to withhold as if I was single. Now my federal withholding to not enough to cover my taxes on my income due to them not withholding any federal taxes. They are also telling me that the form W4P has to be filed each year. According to the instructions on W4P, that is not true.

      Business Response

      Date: 07/22/2024

      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 July 22, 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:07/10/2024

      Type:Sales and Advertising 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.
      This company mess up the first request hardship and now they taking there time . They costing more money my lights got turned off and the customer service is rude and they act like they. My water got turned off and I incurew ****** pluse ****** pluse ***** each Day and I had cps called on because of there neglected and stupid . My job messed up.and I asked for a ******* total the person who proceed the claim mess the whole thing up . I am so ****** off ?? . And they acting like it nothing . I want this company to be held accountable for the cps problems and there neglect to process the claim on time they should be more better . All I wanted to do us pay ny mortgage before the 6th to not incure fees but I have over 900 extra in few because of there meas up and a cps case

      Business Response

      Date: 07/23/2024

      Thank you for bringing BBB Complaint #******** dated July 10, 2024, to our attention. Upon conducting a thorough review of the situation, we responded directly to the customer in our letter dated July *******. 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:07/10/2024

      Type:Sales and Advertising 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.
      This company mess up the first request hardship and now they taking there time . They costing more money my lights got turned off and the customer service is rude and they act like they. My water got turned off and I incurew ****** pluse ****** pluse ***** each Day and I had cps called on because of there neglected and stupid . My job messed up.and I asked for a ******* total the person who proceed the claim mess the whole thing up . I am so ****** off ?? . And they acting like it nothing . I want this company to be held accountable for the cps problems and there neglect to process the claim on time they should be more better . All I wanted was to pay my rent on time on the 6th and they made a mess out of it and cost me over ****** extra in fees not including tue reconnect free for lights and water and the cps cause cause my family called them

      Business Response

      Date: 07/10/2024

      Hi.  This appears to be a duplicate of complaint ID ********.  The issue will be addressed under that complaint ID.  Please close this as a duplicate.  Thank you!

    • Initial Complaint

      Date:07/09/2024

      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.
      Empower took over ********** Retirement My deposits have decreased by $79.34 since they took over. ***** advised that federal tax withholding varies from company to company. i thought Federal withholding was uniform from state to state. I was then advised my monthly payment from Empower was to be $4701.75. I advised her only $4655.62 was deposited. **** checked her records and confirmed that was correct. I asked how to recoup the difference of $92.26 now two months' worth, and her silence was deafening. She would have her team look into this. This is paramount to larceny, and I am certain her explanation of Federal Withholding tax is erroneous. How do I recoup my losses and correct this improper booking process

      Business Response

      Date: 07/15/2024

      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 July *******. 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:07/08/2024

      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.
      This company is supposed to be rolling over my 401k to another institution but is making it incredibly difficult/impossible to do so. They claim they are unable to transfer the funds electronically so they must send me checks. However, I had to have them resend the checks 4 times so far and they still have never came. I fully and honestly believe this place is not sending them and is holding my money. I get mail from them no issue. But the minute Inwant my money its impossible? Its been nearly 2 months that they are holding my money hostage and I need some assistance.

      Business Response

      Date: 07/22/2024

      Thank you for bringing BBB Complaint # ******** from July 8, 2024, to our attention. Upon conducting a thorough review of the situation, we responded directly to the customer in our letter dated July 22, 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:07/08/2024

      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.
      On June 24 2024 I put in a request to withdraw my 401k profit sharing with Empower. Empower deleted my request after I uploaded the necessary documents. When I called to ask why they told me that I had uploaded a document without my social security number, which I uploaded the same day. They first told me that I would have to do the request all over again. Then they tell me that the Union says I still work for them, which isn't true. I resigned on February 26 2024. Now I am trying to get a hold of them on the phone and I'm on hold forever. Nobody is picking up my phone calls it's like they are dodging me so I can't withdraw my money. All I want is my money

      Business Response

      Date: 07/10/2024

      Thank you for bringing BBB Complaint # ******** dated July 8, 2024, to our attention. In order to protect the privacy of our account holders, we will research the situation and will respond directly to ********************. We again appreciate you bringing this matter to us for review.

    • Initial Complaint

      Date:07/08/2024

      Type:Billing 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 am enrolled in the City of ************ defined contribution plan with Empower. My account number is ********. I have asked for statements to be sent to my residence by US Mail. All of the phone requests and written requests have been ignored. Empower does not send the reports to my home and I have no idea what my account balance is. I am ignored as a customer.

      Business Response

      Date: 07/17/2024

      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 July 17, 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:07/07/2024

      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 left my job March 2024 and called empower to close my account. They said the address was incorrect so they would fix it and I'd have to wait 30 days to call back and close my ********** days later I call back and they say my address is still not right and needs to be fixed and I have to wait call back and request to close my account, or I could fill out the paperwork they would email me and send it back. I filled it out, had it notirized, and mailed it directly back. Now it's been over a month and I haven't seen anything, heard from anyone and my certified mail never showed up with my check. When I call now the call magically gets "dropped"

      Business Response

      Date: 07/09/2024

      Thank you for bringing BBB Complaint # ******** dated July 7, 2024, to our attention. In order to protect the privacy of our account holders, we will research the situation and will respond directly to ************. We again appreciate you bringing this matter to us for review. 

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