Employee Benefits Insurance
Empower RetirementThis business is NOT BBB Accredited.
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Reviews
This profile includes reviews for Empower Retirement's headquarters and its corporate-owned locations. To view all corporate locations, see
Customer Review Ratings
Average of 322 Customer Reviews
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Review fromEleanor C
Date: 10/02/2023
1 starEleanor C
Date: 10/02/2023
Nothing like trying to log in only 3 times and being locked out for a day or more. No way around it during non business hours either. It's 2023 ffs, use 2 factor authentication? Give account recovery options? It's ludicrous that customers can't log in for hours to deal with their account because you have no recovery options. Garbage.Empower Retirement
Date: 10/03/2023
Hello. Thank you for reaching out. We are sorry to hear about your poor experience with Empower but appreciate the feedback as we are always looking for opportunities to improve. If you require additional assistance, please contact our ********************* Thank you.Review fromAramith T
Date: 09/19/2023
1 starAramith T
Date: 09/19/2023
The worst retirement manager Ive ever dealt with. Complete trash. If I could give a negative star, I would.Empower Retirement
Date: 09/21/2023
Hello. Thank you for reaching out. We are sorry to hear about your poor experience with Empower but appreciate the feedback as we are always looking for opportunities to improve. If you require any additional assistance, please let us know.Review fromRyan B
Date: 09/13/2023
1 starRyan B
Date: 09/13/2023
Empower sent me statements for years saying my vested balance was a certain amount. It gradually went up every statement. Then when I needed to take a hardship withdrawal they decreased my vested balance by hundreds of dollars and tried to tell me that the statements I had received from THEM that consistently stated "Your vested amount as of this date is $$$" were not actually correct - that they got those amounts from my employer and what they had been listing as my vested amount all that time was never really the amount that was actually vested. When I asked to speak to another representative because I did not accept that excuse the next rep told me that the market probably dropped in the 2 week time frame of me receiving my last statement and requesting my withdrawal even though the entire time I had my account open it never once decreased. They wanted me to believe it suddenly dropped drastically for the very first time when I requested my withdrawal. Also, on my last 2 statements they stated I was 60% vested. Then when I requested my withdrawal they told me I was only 30% vested. When I asked why they bother sending out statements if none of the information on them is correct they again said "We get our information from the employer" and would not take responsibility for their mistakes. I said they knew my start date and knew the scale for when the vested amount increases and they followed all those guidelines the whole time I had my money with them, but as soon as I needed a withdrawal they said none of that information they sent me was actually correct. My question for you Empower is this; What are you paid for if monitoring my account and adjusting my vested amount as needed is not your responsibility!? If my employer does all of that figuring and you just put their numbers on a piece of paper without verifying anything you are not an investment account management **********************. You are a printing company at best. I would give zero stars if it was possible.Empower Retirement
Date: 09/14/2023
Hello. We regret the issues you have encountered.Unfortunately, we are unable to assist with resolving the issue as we cannot locate an account using the information provided. If you require additional assistance, please contact our ********************* Alternatively, please provide the plan name and plan number and we will review. Thank you.Review fromCynthia Y
Date: 09/06/2023
1 starCynthia Y
Date: 09/06/2023
Lets cut straight to the punch line. Empower is the worst retirement plan manager I have worked with. I say this after interacting with several 401K firms during my 35+ year career. My goals for todays contact were simple get a question answered about a transaction and initiate a 401K rollover. It took conversations with at least five people and 50 minutes on the phone to get the job done. I spent most of this time on hold, waiting to speak with yet another person who could supposedly help me.Employees cannot pick their companys 401K plan administrator. So, I offer condolences to anyone who gets stuck with Empower. But for those who can choose I advise you to run fast if someone suggests you take your hard-earned money to Empower.Empower Retirement
Date: 09/07/2023
Hello. Thank you for reaching out. We are sorry to hear about your poor experience with Empower but appreciate the feedback as we are always looking for opportunities to improve. If you require any additional assistance, please let us know.Review fromMonique B
Date: 08/31/2023
1 starMonique B
Date: 08/31/2023
The worst group of people to handle YOUR FUNDS! Hardship request is the hardest thing to get with this company. You can provide all the documentation THEY say you need and you still will be missing something. Ive spoken to several different employees only to get differing answers from each one (including a supervisor)! Thanks EMPOWER for being able to release to me some of MY money only to give me the run aroundnow Ill be homeless next month because of your shenanigans.Empower Retirement
Date: 09/05/2023
Thank you for reaching out. We have forwarded your concerns internally to the appropriate department for further review. Once our internal review has been completed, you will be contacted.Review frompatrick s
Date: 08/30/2023
1 starpatrick s
Date: 08/30/2023
This is an extremely outdated and cumbersome company to work with. I have used multiple other retirement companies in my career and this is by far the worst. Avoid at all costs. I am transferring all of my 401k out ASAP to a more user friendly **********************.Empower Retirement
Date: 08/31/2023
Hello. Thank you for reaching out. We are sorry to hear about your poor experience with Empower but appreciate the feedback as we are always looking for opportunities to improve. If you require any additional assistance, please let us know.Review fromPeggy B
Date: 08/30/2023
1 starPeggy B
Date: 08/30/2023
Horrible company. opened an account without my permission and now wants me to pay them a fee to close it and get my money! Do not do business with this companyEmpower Retirement
Date: 08/31/2023
Thank you for reaching out. We have forwarded your concerns internally to the appropriate department for further review. Once our internal review has been completed, you will be contacted.Review fromHarold T
Date: 08/22/2023
1 starHarold T
Date: 08/22/2023
Over a month ago empower agreed to overnight my retirement to me. Instead they charged $250 in fees and sent it to **********. Now ********** is charging over $200 in fees. Plus its now been 2 months and I still havent seen my money. If someone has a reason to withdraw their retirement its because they really need it. I will know better then to trust empower or ********** with my money in the future. If I work for someone that used them I will opt out and make sure they know why.Empower Retirement
Date: 08/23/2023
Thank you for reaching out. We have forwarded your concerns internally to the appropriate department for further review. Once our internal review has been completed, you will be contacted.Review fromJames W
Date: 08/22/2023
1 starJames W
Date: 08/22/2023
A small retirement account of mine was 'transferred' to Empower from the fund my company used for their 401k program.That was several years ago - maybe 4 or 5 - and today I tried to withdraw my 401k and close the account. They seem to make it impossible. First, their website defaults to a cause for withdrawl of 'separation of employment' and they won't release funds until they can somehow magically contact a company that went out of business years ago. Second, I used their website to see what the status was, and discovered they're 'waiting' for the closed company to magically respond. So I called their 800 number, waited on hold for a while, and then the account rep 'couldn't hear me.' and hung up. Weird.Third, called again. Hold again. Finally got a representative that I could barely understand, who again defaulted to the 'separation of employment' thing. We worked through that. Then they needed verification that I had read a detailed form with disclosures - when I said I had not even seen it, they said they'd send it and I could sign it, send it back, and call again. Fourth, I refused and insisted we close my account right now, today. So they sent the disclosure form and I read it, then we moved to the next step. IF I hadn't of done that, how much more time would I have had to wait?Fifth, went through a bunch of other stuff and was told there was a $150 non-negotiable 'tax' to get my own money on top of the federal withholding. When I drilled down on the 'tax' I learned it wasn't a tax after all, but a 'mandatory' fee to get them to send me my own money. They also wanted $40 to 'expedite' my check.Finally, I learned that it will be **** business days for them to 'process' my 'application' and then another 5 business days to mail the check. So in reality, about a month to close an account and get my own money - while they use it free.This whole thing is unbelievable. Not my first rodeo. This looks like bad behavior from a crooked company. Avoid.Empower Retirement
Date: 08/23/2023
Thank you for reaching out. We have forwarded your concerns internally to the appropriate department for further review. Once our internal review has been completed, you will be contacted.Review fromCat R
Date: 08/20/2023
1 starCat R
Date: 08/20/2023
Probably the worst 401k company I have ever dealt with. Very user unfriendly and more hassle than it's worth. I will be pulling my funds from this company. Do not recommend.Empower Retirement
Date: 08/22/2023
Hello. Thank you for reaching out. We are sorry to hear about your poor experience with Empower but appreciate the feedback as we are always looking for opportunities to improve. If you require any additional assistance, please let us know.
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