Empower Retirement, LLC 401(k) Review & Grade
Empower Retirement, LLC 401(k) Savings Plan
Greenwood Village, COFinance & Insurance10,223 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$8,526Employer $ per active participant
$10,310Employee $ saved per active participant
0.00%Direct admin cost, % of plan assets
$2.2BNet plan assets, end of year
$161,231Average balance per account
Score breakdown
- Employer generosity41.5 / 5083th percentile for employer $ per participant
- Low cost25.0 / 25100th percentile for low admin cost vs. same-size plans
- Employee saving9.1 / 1561th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score83 / 100 · Grade A
This plan vs. peers
Peers: Finance & Insurance plans with 10,000+ active participants (72 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 83th |
| Lower admin cost | 100th |
| Employee saving | 61th |
| Peers that auto-enroll | 74% |
Red flags from the filing
Corrective distributions: the plan refunded $41,900 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Empower Retirement put in about $8,526 per active participant, more than the typical peer ($5,179). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $87,157,215 |
| Participant (employee) contributions | $105,402,052 |
| Other contributions (incl. rollovers in) | $41,333,785 |
| Administrative expenses paid from the plan | $3,211 |
| Other admin expenses | $3,211 |
| Benefits paid out | $125,214,864 |
| Net assets, start / end of year | $1.9B / $2.2B |
| Active participants, start / end of year | 10,185 / 10,261 |
| Participants with account balances | 13,857 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Deloitte & Touche LLP |
| Employer stock held by plan | $42,612,539 |
Largest service providers (Schedule C)
| Charles Schwab & Co,. Inc. | $3,211 reported compensation |
| Empower Annuity Insurance Company | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007153806NAL0002798307001, received 2025-10-07, EIN 84-1233483, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.
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