Business Profile

Employee Benefits Insurance

Empower Retirement

This business is NOT BBB Accredited.

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Complaints

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

Customer Complaints Summary

570 total complaints in the last 3 years.
196 complaints closed in the last 12 months.

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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.

Initial Complaint
Date:02/14/2025
Type:Order 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.
Empower Retirement has failed to obtain a separation of employment letter of approval from my former Employer Travel ****************** based on their published timeline line requirement of 3 to 5 business days for such a request. A separation of employment approval letter is required to move forward with my request for a full withdrawal of my remaining 401 k balance which was made on 1/27/2025. Empower has failed to provide me with a final deadline for moving forward with my request if ** fail to provide the requested approval letter.
Business Response
Date: 02/24/2025
Thank you for bringing BBB Complaint #******** dated February 14, 2025, 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
Customer Answer
Date: 03/03/2025
Hello.

This has been resolved.
case ID number ********.

Thank you!
Initial Complaint
Date:02/13/2025
Type:Order 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 am filing this complaint due to repeated delays, miscommunication, and obstruction in processing my 401(k) hardship withdrawal request with Empower Retirement. Despite providing all required documentation and following the instructions given by multiple representatives, my request has been continuously stalled with new and conflicting requirements each time I attempt to move forward.I initially submitted my hardship withdrawal request (on February 7th, 2025) to cover my portion of the closing costs for my home, which is scheduled for February 27, 2025. I provided the purchase agreement and completed the withdrawal request form, as instructed by an Empower representative named ******. I was specifically told to enter max available for the requested amount, yet my request continues to be delayed due to additional and unnecessary roadblocks.Empower representatives have been inconsistent in their explanations, repeatedly asking for new documents or providing contradictory information about what is required. At this point, their handling of my request appears to be either gross incompetence or a deliberate attempt to prevent me from accessing my own funds.This ongoing situation has caused significant frustration and stress, as I am relying on these funds for my home closing. I am requesting immediate action to process my withdrawal without further delay. I also believe Empower Retirement should be held accountable for their lack of professionalism, poor customer service, and failure to provide a straightforward resolution.
Business Response
Date: 02/14/2025
Thank you for bringing BBB Complaint # ******** dated 2/14/2025 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.
Customer Answer
Date: 02/14/2025

Complaint: 22939226

I am rejecting this response because: It seems like Empower is acknowledging the complaint but still being very vague and non-committal in their response. Their mention of researching the situation and responding directly to me doesnt necessarily indicate they are taking immediate action.
While I acknowledge their intention to research the situation, I must remind them that the urgency of my 401(k) hardship withdrawal request requires immediate attention. I AM SCHEDULED TO CLOSE ON MY HOME ON FEBRUARY 27th, and I have already provided all necessary documentation, including the purchase agreement and completed hardship withdrawal request form.

As I stated in my original complaint, the mishandling of my request may constitute FRAUDULENT activity, and I WILL NOT HESITATE TO TAKE LEGAL ACTION if this issue is not resolved promptly. The delays and continual request for additional information have caused significant frustration and unnecessary obstacles, and I expect IMMEDIATE ACTION to resolve this matter. Please confirm that my hardship withdrawal request WILL BE PROCESSED WITHOUT ANY FURTHER DELAY.

Sincerely,
****** *****
Business Response
Date: 02/20/2025
Thank you for bringing BBB Complaint # ******** follow up dated 2/19/2025 to our attention. We can confirm the request has been processed and was sent on 2/19/2025. In order to protect the privacy of our account holders, we will research the situation and respond directly to Ms. ***** with our findings. We again appreciate you bringing this matter to us for review.
Customer Answer
Date: 02/20/2025

Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me. Im only accepting this response because I am exhausted with going back and forth with this matter. Hopefully, the next interaction I have with this business will be better than what I have experienced thus far.

Sincerely,

****** *****
Initial Complaint
Date:02/13/2025
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.
This company lied to me about funds availability for my *** account and now they have stolen my money and refuse to return it to me. I cannot understand the customer service representatives when I call. They are rude and disrespectful to me. (I think this is because they are a DEI company and I am white. They expect me to know more because Im white. I am claiming that they are racist and sexist against me. This company scammed me, lied to me, and should be held accountable. They are unable or unwilling to go through the charges they made to me. They should not charge me for doing nothing for me.
Business Response
Date: 02/19/2025
Thank you for bringing BBB Complaint #******** dated February 19, 2025, to our attention. Upon conducting a thorough review of the situation, we responded directly to the customer in our letter dated February 19, 2025. 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
Customer Answer
Date: 03/03/2025
I received a letter from Empower regarding how they scammed me and there is nothing I can do about it. This company need to be stopped and until I receive all of my money from these scumbags this case will not be resolved.
Business Response
Date: 03/11/2025
Thank you for bringing *** ****** additional concerns to our attention.

To clarify, Empower provides non-discretionary recordkeeping and administrative services to the Plan under a services agreement with the Massachusetts Deferred Compensation SMART Plans (the Plans) sponsor and fiduciary, the Commonwealth of Massachusetts. Under the terms of the agreement, Empower does not manage or administer the Plan nor do we determine Plan benefits or act in any other fiduciary capacity with respect to the Plan or participants.

While we regret the difficulties that the withdrawal restrictions have caused to *** *****, it is important to note that these restrictions are neither an Empower nor Plan policy. Instead, these limitations are an IRS regulatory restriction on 457(b) plan withdrawals. Current *** regulations limit withdrawals from 457(b) plans unless the account holder has experienced one or more of the following qualifying events:

Separation from service from the employer sponsoring the plan
Retirement
Total disability
Death of the participant
Age 59

As a directed, non-fiduciary recordkeeper, Empower must follow all direction from the *****************************, and all federal regulations. Empower does not have the discretion to waive this regulatory requirement and process a withdrawal without a qualifying event.

The Plan has elected to allow active employees to request withdrawals due to unforeseeable emergencies. As required by *** regulation, these unforeseeable emergency withdrawals are limited to specific situations, defined by the Plan.

The unforeseeable emergency reasons associated with this plan are for prevention of eviction and/or foreclosure, uninsured medical expenses, funeral expenses for participants spouse or dependent, uninsured casualty loss, and an illness or accident. The request must be approved prior to the issuance of the funds and Empower has no discretion to approve a withdrawal for a reason outside those approved by the Plan. If *** ***** believes his situation qualifies for an unforeseeable emergency withdrawal and would like to submit a withdrawal request, he may do so by contacting our ******************** at ************.

Empower strives to provide excellence in customer service at every point of contact and while we sincerely regret that *** ***** feels our on-site representative did not properly explain the limitations of retirement plan withdrawals, as the presentation was a non-recorded verbal presentation that took place in 2017, we are unable to review the information that was provided at that time to determine if the information was complete and accurate. In response to his concerns, we are reviewing our policies regarding on-site presentations to ensure that this information is clearly communicated in the future in order to prevent similar issues from occurring moving forward.

Finally, it is important to note that *** ***** is still making contributions to his Plan account. If he is satisfied with these deferrals, no further action is needed. However, if he would like to change or stop his deferrals so that no additional monies are subject to the Plans withdrawal restrictions, he should contact the ******************** or submit the request on the participant website. Changes to his deferral rate can take up to two payroll cycles to go into effect.

Sincerely,

Empower
Customer Answer
Date: 03/18/2025

Complaint: 22936199

I am rejecting this response because:
The worst thing these people could have done to me they did. The sales pitch was very untruthful. The job description for the sales position it is clearly stated that it their job to get as many people to sign up as possible. This alone is a reason to be untruthful and I am the victim of this deception.
The limitations of this plan are serious defects in the plan itself. There is no way to make your invested money safe, there is not a single commodity available to hedge your investments. A customer is at the mercy of **********************, and the state and neither are very compassionate. I genuinely dont even believe that Empower even has my money, I believe they have loaned it out, possibly 3x for high interest loans or some other program.
I believe if I was a professional football player I would be treated differently.
I believe if I was a minority I would be treated differently.

I believe Im personally being punished for being upset that my money isnt safe. Anything I wanted to do with my money just was not possible in this plan.
Lastly this company uses the Red, White, and Blue logo to fool ****************** into thinking this is a US owned company.
It is absolutely terrifying to think this company is getting involved in healthcare where merci, consideration, trust, and compassion are key attributes. I sure hate to think what this company is capable of while they tell me that they are treating me with compassion.

Sincerely,
******* *****
Initial Complaint
Date:02/12/2025
Type:Customer Service 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 am writing to formally express my concern and frustration regarding my inability to withdraw my 401(k) funds following my layoff from Neovance. My employment ended January, and I have made multiple attempts to access my retirement funds, only to be met with obstacles from your ************ the rightful owner of this account, I should have the ability to access my funds in accordance with the terms of the plan.I am requesting immediate clarification on the exact reason for this restriction and a clear resolution path. Additionally, I ask that this matter be escalated to the appropriate department so that I can withdraw my funds without further unnecessary delay.If this issue is not resolved promptly, I may be forced to escalate my complaint to regulatory bodies such as the ******************** Employee ******************************** (EBSA) and/or seek legal counsel to ensure my rights under ERISA and applicable laws are upheld.Please provide a written response detailing how this issue will be resolved within a reasonable timeframe.
Business Response
Date: 02/13/2025
Thank you for bringing BBB Complaint # ******** dated 2/12/2025 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:02/12/2025
Type:Billing 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.
Requested a distribution check from retirement account to roll over into new employers 401K account and check was incorrectly made payable directly to *************************. I have requested to have the check reissued but they are telling me their Tax People are deciding if they will reissue. It needs to be made payable to new employer retirement plan. ************************* will not accept this check and Empower has been putting me off for over a week. I have a check for $31,490 that I NO GOOD.
Business Response
Date: 02/14/2025
Thank you for bringing Better Business Bureau Complaint # ******** dated 2/12/2025 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:02/07/2025
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 am not accountable for the debt associated with EPW/EMPOWE. There is no contract between me and EPW/******, and they have not provided the original agreement as requested.
Business Response
Date: 02/10/2025
Thank you for bringing BBB Complaint # ******** dated February 7, 2025, 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
Initial Complaint
Date:02/04/2025
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.
Empower sent two checks dated on December 11, 2024. Called into empower about the checks. Was told they got sent to me since my account was under a certain threshold. Empower asked if I got the document that was sent in October about my account. I have never received anything. Empower *** set up for a person to reach out to me about have the account rolled over. *** also ***orted that he would be sending out the document that was sent in October. I still have not received a single document from empower. No one followed up. I then called on February 4th to follow up. Empower continue to refuse to rollover my 401(k). Empower stated to me since the checks was made out to me they are not able to reissue them payable to another retirement account. According to *** rules. You have 60 days from date check was issued to roll over to a qualified retirement account. ********************** still refuses to reissue the checks payable to my retirement account with a different employer. Empower fails to provide documentation of the plan policy and internal procedures regarding this issue.
Business Response
Date: 02/11/2025
Thank you for bringing BBB Complaint # ******** dated February 5, 2025, to our attention. Upon conducting a thorough review of the situation, we responded directly to the customer in our letter dated February 11, 2025. 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:02/04/2025
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.
On 1.16.2025 I reqd Empower to rollover my 401k in the *** of $21K. I submitted an online request. The wire was processed on Friday the 17th. I noticed over the weekend I listed the wrong *** to rollover to. On Monday 1.20.2025, I began calling empower as soon as they opened to get this corrected. I was told I had to wait for ************************* to return the wire. I kept checking my acct. On 1.21.2025 I called Empower numerous times with no assistance. I requested they recall the wire once the 27th. I called MerrillLynch for assistance, and they verified that I did not have an acct and would return the wire once recd. I continued my calls to Empower and then reqd a mgr. I spoke with *** *. Who said he would look into it and get back to me. He did not. On Thursday, January 30th my *** from ****** ***** and me called *** *. at which time EJ reqd a stop payment and *** *. Stated he would do a wire recall. He stated there was no record of me requesting one prior, which was not correct. Since then, we have not heard from *** *. And have called his direct number 4 times and left messages, which he has not returned. Thru the course of this, I have called Empower over 20 times (documented) and ML 7 times. I recd an email and text yesterday (2.3.2025) that stated they recd my withdrawal request and was being processed. I checked my acct with ********************** and there is/was no activity. I called *** *. Several times, and left several messages with only receiving his voice mail. We are now into the 3rd week, and I cant seem to get Empower to do anything. I want to know what they are doing or have done, and I want my money. They have an obligation to resolve this expeditiously.
Business Response
Date: 02/24/2025
Thank you for bringing BBB Complaint #******** dated February 4, 2025, to our attention. Upon conducting a thorough review of the situation, we responded directly to the customer in our letter dated February 24, 2025. 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:01/28/2025
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.
Get me off of your email list! Companies are supposed to give people the ability to unsubscribe from an email list but there's no unsubscribe button! I also can't block you all because I have gmail and gmail doesn't do a true block, it would just put you in the spam folder, allowing you to still send me mail.I don't want anymore communication from you all as I have never nor will I ever do business with you!
Business Response
Date: 02/12/2025
Thank you for bringing BBB Complaint #********, dated January 28, 2025, to our attention. Upon conducting a thorough review of the situation, we responded directly to the customer in our letter dated February 12, 2025. 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
Customer Answer
Date: 02/14/2025
As of now, I haven't received anything from them and it's ridiculous to have to send something in the mail when they could've emailed me at the email address I provided on this complaint form. The email address on this complaint form is the same one that you're spamming me at and not allowing me to unsubscribe. Why in the world would you send me a letter about this? That's absolutely wasteful. I also have informed delivery digest and haven't received any scan showing your mail.
You need to know I will not contact you by phone as it's absolutely unnecessary. Send me an email and I can be done with this. Better yet, put an unsubscribe button in your emails so people don't have to contact you for something this ridiculous.
Initial Complaint
Date:01/27/2025
Type:Customer Service 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 called and asked for my distribution. I talked to a person named *** that was handling the account. I asked to talk to his supervisor and he told me no. How rude
Business Response
Date: 01/31/2025
Thank you for bringing BBB Complaint # ******** dated 1/29/2025 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.

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Empower Retirement is NOT a BBB Accredited Business.