Complaints

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

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  Empower Retirement

  8515 E Orchard Rd Greenwood Village, CO 80111-5002

• 

  Empower Retirement

  11500 Outlook St Overland Park, KS 66211-1804

• 

  Empower Retirement

  7 Shattuck Rd # C-20-C Andover, MA 01810

• 

  Empower Retirement

  PO Box 1700 Denver, CO 80201-1700

• 

  Empower Retirement

  333 Willoughby Ave Juneau, AK 99801-1770

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.

• Initial Complaint

  Date:08/03/2022

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  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 order to access to my account I need to register. To do that, I need to complete personal information and then provide my phone number in order to get an access code through text message to continue the registration.The website is not working. I called customer service and they refuse to provide me with a code unless I disclose additional credit information. That credit information is private and they cannot request it in order to give me a code to register my account so I can see ***********. They are blackmailing me. If my employer subscribed to their retirement plan, it's my right to get access to my information. Attached is the message i've receiving since yesterday that does not allowed me to register. I sent email to ******************************************************************** bit they do not replied back.

  Business Response

  Date: 08/18/2022

  Complaint ID: ********
  
  Thank you for bringing this participant concern to our attention.
  
  Our records reflect an account for ******************** in the Women's World Banking 401(k) Plan (the Plan), an employer-sponsored retirement plan established and maintained by the Womens ************** **** (the Plan Sponsor).
  
  In order to help prevent fraud, Empower has contracted with Experian, one of the three consumer credit bureaus, to help us verify the identity of participants. The step-up verification process uses a secure connection through Experian to access information from financial and non-financial sources found on credit reports. It does not affect credit scores, nor can Empower representatives view credit scores. Answers are not stored with Empower. This enhanced process is part of current best practices and complies with federal financial authentication guidelines for internet banking.
  
  Heres how it works: (1) Experian generates identity proofing questions; (2)Empower asks those questions and inputs those answers directly to Experian; and (3) Experian confirms to Empower whether an individuals identity has been validated. Again, Empower does not ever see a credit report or information held by Experian, this process does not affect credit scores, and we do not store the answers provided.
  
  Alternatively, if an individual does not want to verify their identity through Experian, a Personal Identification Number (PIN) can be mailed to the address of record. Our records indicate a PIN was mailed to ******************* address of record and the online account was then accessed on July 28, 2022.
  
  We believe that this response addresses ******************** concerns. If Ms. ******* has any additional questions about her Plan account, she may contact our ******************** at ************, weekdays between the hours of 8 a.m. and 10 p.m. Eastern time and they would be glad to help.
  
  Sincerely,
  
  ***************************
  Senior Manager Correspondence

• Initial Complaint

  Date:07/29/2022

  Type:Order Issues
  Status:

  AnsweredMore info

  Complaint statuses

  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 applied for a hardship withdrawal from my Empower SMART retirement plan to replace my roof damaged in a storm. I submitted the paperwork and waited to hear the result. After a week I was asked to submit a notarized statement regarding my lack of insurance. They also asked me to send the contractor invoice on three separate occasions. Through this week plus long process I was contacted by Empower several times and spoke with seven different representatives. They eventually denied my claim only to call me the next day apologizing because it had been approved. Three hours later I was contacted by a supervisor who informed me I actually was denied and would not be receiving my money. My issues are the lack of professionalism, the demeaning interaction with the Empower representatives and complete disregard for how this affected me.

  Business Response

  Date: 08/09/2022

  Complaint ID: ********
  
  Thank you for bringing this participant concern to our attention.
  
  Our records reflect an account for ********************************* in the ************* Deferred Compensation SMART Plan (the Plan), an employer-sponsored retirement plan established and maintained by The ***************************** (the Plan Sponsor).
  
  By way of background, Empower provides recordkeeping and administrative services to the retirement Plan under the terms of an administrative services agreement with the Plan sponsor, The *****************************. Empower is not the Plan administrator and does not act as a fiduciary or have any discretion over the Plan. Empower only acts at the direction of the Plan sponsor/Plan administrator and must follow all Plan and *** rules regarding withdrawals.
  
  Our records indicate an Unforeseeable Emergency Withdrawal form was received on July 21, 2022. As mentioned on the form, when requesting a withdrawal to cover loss of property due to casualty, the documentation must show the cost of repair after taking into account any reimbursement by insurance. While the form was checked to state that ********************** did not have any insurance, there was conflicting information indicating she did have insurance, therefore, we requested a notarized letter stating that ********************* had no insurance. In a later call, ********************** indicated that she did have insurance but decided to not make a claim as she was told by her agent that it would likely be denied and could significantly raise her premiums.
  
  Please note, progressive deterioration to a principal residence is not a defined reason by the Plan and the *** for which we are authorized to approve.
  
  Regarding the conflicting information that was provide to **********************, we apologize that we incorrectly told her the full amount would be approved. Coaching has been provided so that we may improve our services in the future.
  
  A rejection letter was mailed to Ms. ********** address of record with more details about the denial and information regarding the Plans appeal process.
  
  We believe that this response addresses Ms. ********** concerns. If ********************* has any additional questions about her Plan account, she may contact our ******************** at ************, weekdays between the hours of 8 a.m. and 10 p.m. Eastern time and they would be glad to help.
  
  Sincerely,
  
  ***************************
  Senior Manager Correspondence

• Initial Complaint

  Date:07/26/2022

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  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.

  **** and After-Tax funds from my former 401K plan with Voya were incorrectly rolled over to Empower. The **** amount is $21,116.06 and the After-Tax amount is $3,813.75. Empower cashed the checks from Voya on June 10, 2022 but has refused to allocate the funds to my account.Empower issued the **** and After-Tax money to me on June 15, 2022. However, the checks were made to Voya which can not accept the contributions since I'm not an active employee. After numerous phone calls from June 15 through July 19, no one at Empower was able or willing to assist me. Due to the extremely poor customer service, I do not want to transfer the funds into my *************** account with Empower.On July 19, 2022, I contacted the ************************** directly at ************ to request for the reissuance of the checks. The ticket number is ********. However, the ticket was still being processed as of July 25, 2022. On July 25, 2022, I submitted a formal request for the reissuance of two checks in the amounts of $21,116.06 and $3,813.75 payable to TD ************************ for the benefit of (FBO) Jie ************** I need BBB's assistance in collecting my retirement funds (**** and After-Tax) from Empower.

  Business Response

  Date: 08/19/2022

  Complaint ID: ********
  
  Thank you for bringing this participants concerns to our attention. I apologize for the delayed response.
  
  Our records reflect an account for ********************* in ************************ Employees Profit Sharing and Savings Plan (the Plan), an employer-sponsored retirement plan established and maintained by ************************ (the Plan Sponsor).
  
  By way of background, Empower provides recordkeeping and administrative services to the Plan under the terms of an administrative services agreement with the Plan Sponsor. Empower is not the Plan administrator and does not act as a fiduciary or have any discretion over the terms of or management of the Plan,including what tax statuses of contributions can be accepted into the Plan.
  
  Empower would like to extend our sincere apologies to ******** for the difficulties shes encountered with the re-issue of her rollover funds that could not be accepted into the Plan. We strive to provide excellence in customer service at every point of contact and her experience did not meet with that expectation.
  
  Our records indicate Empower received three rollover checks from ********** provider,Voya, on June 10, 2022. The check representing the pre-tax portion of her prior account was deposited into her Plan account on the same day. As the Plan does not accept the rollover of **** or after-tax funds, these funds were required to be returned to ******** and new checks were re-issued back to Voya for those amounts, in accordance with Empowers standard procedure.
  
  After review, we have determined that Empower is unable to issue the funds in question to another retirement provider and must re-issue the funds to the original provider, Voya. This is because the funds were not issued from a retirement plan record-kept by Empower and we are unable to verify the tax status of the funds or confirm that qualification of the plan from which the funds were issued. We regret the confusion caused regarding this point.
  
  The checks representing the return of funds should be forwarded to Voya. The funds should not be returned to ********** original account as new contributions, but instead the distribution should be re-processed to her new provider, TD Ameritrade.
  
  We believe that this response addresses ********** concerns. If she has any additional questions, she may contact our ******************** at ************ to speak with a retirement representative.Retirement representatives are available Monday through Friday, from 7:00 a.m.to 9:00 p.m. Central time.
  
  Sincerely,
  
  ***************************
  Senior Manager Correspondence

• Initial Complaint

  Date:07/21/2022

  Type:Customer Service Issues
  Status:

  ResolvedMore info

  Complaint statuses

  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 have a pension account and two 401k accounts with Empower Retirement. The funds are doing very poorly. I have made repeated attempts over the past two months to log into my accounts to change my fund allocations. The website and the mobile app are both broken. The customer contact number is only answered after about 20 minutes of hold time but they tell you that they cannot address the issues and that they have received multiple complaints about their website but they encourage the user to keep trying to gain access online.

  Business Response

  Date: 07/28/2022

  Complaint ID: ********
  
  Thank you for bringing this participant concern to our attention.
  
  Our records reflect accounts for *********************************** in the Sumitomo ************************** 401(k) Plan, Sumitomo ************************** Retirement Plan and SOCIETE GENERALE SAVINGS AND INVESTMENT/RETIREMENT PLAN (the Plans),employer-sponsored retirement plans established and maintained by Sumitomo ************************** and SOCIETE GENERALE (the Plans Sponsors).
  
  Our records reflect Empowers last contact with ****************** was on May 24, 2022,for assistance accessing her accounts online. On July 27, 2022, our representative, *********************, called and left a message on the phone number listed in Ms. ******** file and also sent an email offering assistance with her accounts. ****************** may contact ************ or call the ******************** number shown below for assistance with her accounts.
  
  We believe that this response addresses Ms. ******** concerns. If she has any additional questions regarding her accounts, she may contact our ******************** at ************. Representatives are available weekdays from 8:00 a.m. to 10:00 p.m. Eastern time and will be glad to assist her.
  
  Sincerely,
  
  ***************************
  Senior Manager Correspondence
  

  Customer Answer

  Date: 07/28/2022

  
  Better Business Bureau
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is acceptable. They incorrectly noted that my last contact with Empower was in May 2022. I actually called Empower on July 21st 2022. I have tried repeatedly to access my accounts but each time I have been locked out. Even when I called on July 21st and back in May, the representatives were unable to provide me with access to my accounts. In fact, I was told that they had received multiple complaints that both the website and mobile app were terminating sessions and locking customers out of their accounts for no reason. I spoke with a representative at Empower yesterday and she was finally able to link my three accounts and update my contact information so that I hopefully don't have these issues again. Only I find it disappointing that I had to open a BBB complaint in order to get any level of customer service from this **********************. It is no wonder why they have so many 1 and 2 star reviews on Google.
  
  
  Sincerely,
  
  *************************

• Initial Complaint

  Date:07/20/2022

  Type:Sales and Advertising Issues
  Status:

  AnsweredMore info

  Complaint statuses

  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 call and requested documents for a hardship loan so my wife could have some dental work done. I submitted all the documents required on 6/29/22. After a couple of days, I got an email requesting that the treatment plan we sent had to have a current date and had to have a statement that the balance was due at the time of service and had to be signed by a representative of the facility. After we uploaded this document to them, then they wanted a fax cover with my account information on it. My wife wrote everything out and uploaded that as well. After getting frustrated with the back and forward and feeling like I was getting the run-around I called and even gave permission for them to speak to my wife to explain what was going on after submitting every request they made. We did not really get an explanation and now it has come to this. My wife submitted some of the same documents over and over and I kept getting emails requesting the same thing she uploaded. So, on 7/20/22 my wife spoke with them and said she hope the conversation was recorded because she was tired of sending the same things over. She uploaded documents on 6/29/22, July 4,8,13,14,18and the 20th. I feel this company has treated me unfairly in the time that I needed to use my money to treat my wife to her anniversary gift. I feel they think I am lying and I submitted all information required and the treatment plan was signed along with the statement stating what is due at time of service and she included the phone number if they had questions. This has been a horrible experience since this company has taken over. And far as a fax cover sheet if we were not sending what was right why not email me an example or take the time to call to make sure you were assisting your customer correctly. I feel each time we upload their request someone new is looking at the documents and not forwarding or making notes for the next person. Please help me resolve this issue seems I need a mediator to get help.

  Business Response

  Date: 08/05/2022

  Plan Name:                 ***************** **** Retirement Plan
  Complaint Number:     17597852
  
  Thank you for bringing this participant concern to our attention.
  
  By way of background, our records reflect that ************************* has an account in an employer-sponsored retirement plan, ***************** **** Retirement Plan (the Plan) for which Empower, formerly known as ********** Retirement, is the directed record keeper. In the complaint, ************** expressed dissatisfaction regarding the handling of a hardship withdrawal request on his account.
  
  We completed a thorough review of Mr. ****** account. According to our records and the rules outlined in the Plans documents, ************** is eligible for a hardship withdrawal; however, the proper supporting documents are required for a hardship withdrawal to be processed on the Plan. We determined there were administrative errors by Empower which prevented the hardship withdrawal from being processed in a timely manner.
  
  The proper documentation pertaining to the hardship withdrawal was received on July 27, 2022, and the hardship withdrawal check was sent regular mail on July 28,2022, to the address of record. According to our records the check shows cashed as of August 3, 2022.
  
  We certainly regret any inconvenience or frustration this caused ************** and appreciate him taking the time to provide his feedback. We hope this issue has been resolved to Mr. ****** satisfaction. At Empower we work very hard to provide our participants with the highest level of service and we appreciate the opportunity to review these concerns. If ************** requires additional assistance or would like to discuss this matter further, please have him contact Empower toll free at ************ between the hours of 8:00 a.m. to 9:00 p.m. Eastern time, Monday through Friday. One of our representatives will be happy to assist.
  
  Sincerely,
  
  Empower
  Regulatory Correspondence

• Initial Complaint

  Date:07/14/2022

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  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 had money garnished from my paycheck to go to a retirement fund I have never set up. Since June 2nd 2022 I have filed for the 90 Day Pension Withdrawal from this company and have yet to receive my funds returned. I have called countless times on different occasions and each representative has told me different scenarios and have failed to call, email or even mail me any sort of information regarding this.

  Business Response

  Date: 07/22/2022

  Complaint ID: ********
  
  Thank you for bringing this participant concern to our attention.
  
  Our records reflect an account for ************************* in the Air *************** **** 403(b)Retirement Plan (the Plan), an employer-sponsored retirement plan established and maintained by Air *************** **** (the Plan Sponsor).
  
  This response is regarding Ms. ****** concerns with respect to automatic enrollment in the plan and a subsequent 90-Day Permissive Withdrawal Request form submitted to return the funds from the account.
  
  The Plan does utilize automatic enrollment which is a retirement plan feature common in 401(k) plans. This feature allows employers to enroll eligible employees in the retirement plan automatically unless the employee affirmatively elects not to participate. The Plan Sponsor selects the auto-contribution amount to be deducted from each paycheck, removes the contributions and forwards the funds to Empower for deposit.
  
  Our records indicate an Initial Automatic Enrollment Notice was sent on April 1,2022, informing ************** of the automatic enrollment into the Plan unless a separate deferral election was made within 30 calendar days of the notice. As no separate deferral election was received, and prior notification was provided, the deferral was automatically set up at 3% per pay period. One contribution was received from the employer on May 12, 2022, and the deferral was later changed to 0% on May 18, 2022.
  
  The Plan also allows for a 90-day permissive withdrawal once contributions start.On May 26, 2022, a distribution form was received, however it was not signed by the participant or the Plan Sponsor. We have since received a copy of the paperwork with Ms. ****** signature. We are also following up with the Plan Sponsor for their signature. Once the paperwork is complete, we will be able to process the request and return the contributions to **************.
  
  We believe that this response addresses Ms. ****** concerns.If ************** has any additional questions about the Plan account, she may contact our ******************** at ************,weekdays between the hours of 8 a.m. and 10 p.m. Eastern time and they would be glad to help.
  
  Sincerely,
  
  ***************************
  Senior Manager Correspondence
  

• Initial Complaint

  Date:07/14/2022

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  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 is on behalf of my Employer " *********************************, ***** 401K ID *********. On 6/22/2022 I submitted paperwork to ********************* of Empower to obtain access credentials to our companies 401K account for Myself ( ***********************) and our payroll services provider ( *************************** of **********). I am the company administrator and *************************** is the person who submits the finding for our payrolls to Empower.Both Empower Forms were submitted together in a single .pdf document on the same email. It took me complaining to Empowers ******** comment section to get a follow up call In a follow up email ********************* contacted me and asked for some address information which I provided for myself and ***************************. I was informed about my credentials. I checked a few weeks later to see if our company payrolls had been submitted to Empower as required by law. This was on 7/7/2022. I am now aware that we have ( as of today) EIGHT payrolls that have not been transmitted due to lack of assess credentials which were requested on 6/22/2022 for *************************** ( Payroll Provider). after many attempts to get someone to help we received the following email on 7/12/2022. This is **** replying for **** while he is out of office. I'm very sorry for all the difficulty you have encountered. I put a rush request on processing ******** access, setting it to the highest priority I can, and I expect it to be ready by tomorrow at the latest if not today. We will notify you when it is ready and provide her login information. We will be in touch soon, but please reach out if you have questions. Thank you! As of this morning ( 7/14/2022) - we have received NOTHING as far as communication about this issue.

  Business Response

  Date: 08/01/2022

  Complaint ID: ********
  
  Thank you for bringing this concern to our attention. I apologize for the delayed response.
  
  By way of background, Empower provides recordkeeping and administrative services to the ERECTED STEEL OF *** *** 401K PLAN (the Plan) under the terms of an administrative services agreement with ********************************* (the Plan Sponsor). Empower is not the Plan administrator and does not act as a fiduciary or have any discretion over the terms of or management of the Plan.
  
  Empower would like to extend our apologies to Mr. *********************** and his associates with the Plan Sponsor. We strive to provide excellence in customer service at every point of contact and their experience did not meet with that expectation. We have conducted a review of this incident and forwarded the results to the appropriate departments in order to prevent similar lapses in service moving forward.
  
  Our records indicate the necessary Plan Sponsor personnel have had the requisite permissions and access added as of July 15, 2022.
  
  We believe that this response addresses Mr.Frosts concerns. If he has any additional questions, he may contact the ************* team.
  
  Sincerely,
  
  ***************************
  Senior Manager Correspondence