Business Profile
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
1.08/5 stars
Average of 323 Customer Reviews
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Review fromJessica Jade S
Date: 10/12/2022
1 starJessica Jade S
Date: 10/12/2022
DO NOT GIVE THESE PEOPLE YOUR MONEY! They will not let you make a withdrawal. They want my boss from five years ago to verify I no longer work there. Everytime he calls he gets put on hold, transferred and the run around!! Two months and still trying to get my money!!! Completely ridiculous!!!!!Empower Retirement
Date: 10/13/2022
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 fromKayle J
Date: 10/11/2022
1 starKayle J
Date: 10/11/2022
Empower is delaying the process of rolling over my funds into my new employer's retirement acct or my Fidelity **** I was told that my former employer must first confirm my separation from the company, even though there is a feature on their website, which allows the customer to manually roll over their funds directly. For some odd reason, that feature did not work, as it does not list the ****. Also, the market closed at 4pm, yet at 9:30pm after receiving an updated balance by two different reps, and after making my request to rollover my funds, the balance suddenly dropped. I asked to roll over automatically, but again, was told that my former employer needed to first verify my separation from their company, which could take 3-4 weeks to finalize the process. I've increased my contributions to offset the market for my conservative account, yet there seems to be little -- inconsistent growth.Empower Retirement
Date: 10/14/2022
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 fromTonya R
Date: 10/10/2022
1 starTonya R
Date: 10/10/2022
Terrible company and terrible customer service. As personal representative for an estate, they initially told me it would ***********-8 weeks to withdraw from the account. It took 7 months! And they did it incorrectly. They made me jump through months of needless hoops. Every representative told me something different. We were constantly waiting on paperwork they already had the answers to. They never told me when they needed anything from me, I had to call them weekly to push this along. Nobody at the company talks to other departments within the same company. They were the absolute worst to have to deal with. They never took responsibility for the errors they made or offered any apology for their incompetence.Empower Retirement
Date: 10/11/2022
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 fromTakeyra R
Date: 10/07/2022
1 starTakeyra R
Date: 10/07/2022
Worse company ever. After going back and forth for 3 months to finally get my withdrawal request processed, and updating my address to add my apartment number months ago, on the week that my checks are supposed to be mailed and received and after I didn't receive them... I called again and again and put on hold and mute by incompetent representatives who after confirming my address each and every single time I call, they decided to tell me today... The day that I should've received my check, that my apartment number was never updated ... Insane. Completely insane. I was on hold waiting for over 15 minutes on 3 different occasions. How in the world can you verify an address eveytime they call as apart of your jobs verification policies but you can't update an apartment number correct when it's time to send out my money? What appress are you verifying please explain it to me. The checks are cancelled and reissued and now I'm beingg told I have to wait 10 additional days to receive it. It's your company's problem that you didn't update the address as I asked over a month ago. Not my problem. And what happens in now 10 additional days when they checks don't show up again? It's ongoing completely unorganized and extremely ridiculous. And no one seems to care at all. I wouldn't recommend this company to anybody at all. They have no business helping anybody with anything at all because clearly no one ever seems to know what the h*** is going on.Empower Retirement
Date: 10/10/2022
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 M.
Date: 10/06/2022
1 starJames M.
Date: 10/06/2022
I submitted a hardship withdrawal to Empower which met the *** requirements, since I was purchasing a house. I contacted empower on 8/18/22 to discuss my submission of the hardship request. I was told to provide the mortgage loan documents which were provided on 8/19/22. During these discussions I expressed my concern that my closing date was on 8/22/22, which did not provide much time for empower to process the request. I was informed and reassured by their representative that as long as I submitted my request before closing, I would still receive the funds even after closing. Over the course of two weeks, I contacted Empower nearly every day requesting a status of the withdrawal. They continually requested the same clarification of information already provided to them on multiple occasions and in the original documentation. Eventually, they requested additional documentation for the construction of the house and accused me of not having the correct address on my house. These were all used as excuses to not process my request in a timely manner. Ultimately, Empower denied the request as they deemed it to be untimely despite my submission of documents prior to closing. I was told that it needed to be processed prior to closing which was in direct contradiction to what their representative told me. They admitted on 9/7/22 and 9/22/22 (in a BBB response) that their employees provided me incorrect information and I was informed that there was nothing the company could do to process my request despite their failures. Empower's employees showed incredible incompetence and the organization takes no responsibility for their failures. In the end, their admitted incompetence and mismanagement denied me from receiving my funds that were to be used for an authorized purpose. I would stay as far away from them as possible! This organization should not be allowed to manage retirement funds!!!Empower Retirement
Date: 10/07/2022
Thank you for reaching out. Our records indicate a response letter to this issue was mailed on September 22, 2022, and we now consider the matter closed.Review fromJose R
Date: 10/04/2022
1 starJose R
Date: 10/04/2022
This is the worst financial decisions I have made. I had a little bit of money invested here and it was more me donating than investing. In terms of percentage, it lost 22% plus the fees. To make things worse, I was never given the chance to transfer to my new retirement account, so the *** hit me as well.After all the fees, including the ***, the value plummeted to near 50%. My new company just obtained, Empower, for their employees retirement and I will make it my goal to inform my experience and will reject moving to mine to it.Empower Retirement
Date: 10/06/2022
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 fromJane S
Date: 09/29/2022
1 starJane S
Date: 09/29/2022
As Administrator for an estate, I complied with all required documentation to allow release of funds to deceased's estate. Every time I call to find out when the check will be released, they say, "nothing more is required from you". Well, if nothing more is required, why don't they release the funds? I've drawn my own conclusions and suggest reading all other reviews so you can draw your own conclusions.Empower Retirement
Date: 10/02/2022
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 fromAlicia C
Date: 09/29/2022
1 starAlicia C
Date: 09/29/2022
I requested a withdrawal of my 401 and 457 so I can roll over to Fidelity. They sent me an email confirmation that checks were sent on 9/6 and that I should receive them within 5 business days. I called them several times after the 5 days and they said it was probably a **** delay. I finally requested replacement checks be sent to me and got an email confirmation that they were sent out on 9/26. I requested an inquiry with **** regarding possible lost mail and they did not find the original checks.1) It is 9/29 - no replacement checks (most mail will arrive within 1-2 days).2) It is 9/29 and I still have not received the original checks either.I have a feeling they NEVER sent the original checks. This has cost me money - my money could have been in accounts and gaining interest.Oh- and they won't send your replacement checks via Express with tracking (even if you are willing to pay).Empower Retirement
Date: 10/02/2022
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 fromBryan B
Date: 09/22/2022
1 starBryan B
Date: 09/22/2022
This company is the worst when you borrow money from this company out of your 401(k) they take the finance charges out of the money you borrow when in fact it should come out of your balance so that you can get the actual amount that you need to borrow then charge you interest on the amount you borrow not the amount you receivedEmpower Retirement
Date: 09/26/2022
Hello. We apologize for 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 ********************* Thank you.Review fromCamdon W
Date: 09/22/2022
1 starCamdon W
Date: 09/22/2022
My mother regrettably had a differed compensation plan managed by Empower. Her 4 Grandchildren are the beneficiaries. Paperwork was filed in March by each and again several times since. Six months later and hundreds of ridiculous excuses later nothing. Not sure what the end game is, but the funds should have been dispersed months ago. All other funds were dispersed within 1 month of filing. They made accusations of fraud, missing paperwork etc. over a month ago we were advised all the issues are resolved (for the 3rd time). Yet still nothing. These actions clearly reflect bad faith and a breach of their fiduciary responsibilities. regrettably they do not care, and that is reflected in a 1.03 out of 5 rating. It's gone as far as one of the beneficiaries I referenced above is starting her real life after school and Empower apparently handles her new jobs 401k. She laughed and said no thanks. And I don't blame her.Empower Retirement
Date: 09/26/2022
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.
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