Empower 401k Review
by Empower Annuity Insurance Company of America
Empower is a retirement services provider administering 401(k), 403(b), 457 and other plans for businesses of all sizes, governments and nonprofits. Pricing is quoted.
- Company size
- Small businesses, mid-market companies, enterprises1
Best for
- Employers of any size, including government, nonprofit and union plans
- Sponsors that want retirement, HSA and stock plans from one provider
- Plans that want managed accounts as part of a dual QDIA
Not ideal for
- Buyers who want published 401(k) prices
- Buyers who require ISO 27001 certification (policies are described as aligned with it)
How we evaluated Empower
This review rests on the 13 facts this page shows, each checked against the source listed under “Sources”, most recently on . We did not test the product hands-on: the score uses only those verified facts, as our methodology explains; third-party ratings, where we quote them, never count in the score.
Our verdict
Empower is a retirement services company headquartered in Greenwood Village, Colorado, created in 2014 by its parent Great-West Lifeco, that administers 401(k), 403(b), 457 and other defined contribution plans for small to mega employers, governments and nonprofits. Pricing is quoted; it reports an unqualified SOC 2 Type 2 attestation.
Strengths
Plan type range
401(k), Roth 401(k), 403(b), 457(b), 457(f), 401(a), defined benefit, nonqualified and stock plans.
Evidence
Modules: 401(k) and Roth 401(k), 403(b), 457(b) and 457(f), 401(a), Defined benefit plans, Nonqualified plans, Stock plan services, HSAs, FSAs and commuter benefits2
Sponsor tools
The Plan Service Center is a 24/7 hub for plan tasks, payroll submission and reporting.
Evidence
Key features: Plan Service Center, a 24/7 sponsor hub, Empower Personal Dashboard for participants, Empower Benefit Design Score, Managed accounts with Morningstar and Edelman Financial Engines, Dynamic Retirement Manager dual QDIA, Empower Security Guarantee3
Security attestation
Unqualified SOC 2 Type 2 attestation and a participant Security Guarantee.
Evidence: SOC 2 Type II: Yes4
Advice options
Managed accounts with Morningstar Investment Management and Edelman Financial Engines.
Evidence: Investment menu and default investment: Yes5
Weaknesses
No published pricing
Empower does not publish plan pricing on its plan sponsor pages.
Evidence: Price transparency: Quote only6
Price at a glance
Price transparency
Quote only6
Quick answers
- How much does an Empower 401(k) cost?
- Empower does not publish 401(k) pricing on its plan sponsor pages; plans are quoted.Based on Price transparency: Quote only6
- What plans does Empower administer?
- 401(k), Roth 401(k), 403(b), 457(b), 457(f) and 401(a) plans, plus defined benefit, nonqualified and stock plans and HSAs and FSAs.Based on Modules: 401(k) and Roth 401(k), 403(b), 457(b) and 457(f), 401(a), Defined benefit plans, Nonqualified plans, Stock plan services, HSAs, FSAs and commuter benefits2
- Who owns Empower?
- Empower was created in 2014 by its parent company, Great-West Lifeco.Based on Parent company: Great-West Lifeco7
- Is Empower SOC 2 certified?
- Empower lists an unqualified SOC 2 Type 2 third-party attestation.Based on SOC 2 Type II: Yes4
Coverage of core 401(k) providers capabilities
Each core capability we evaluate in 401(k) Providers, checked against Empower’s own documentation. “Not verified yet” means we have not confirmed it either way, not that it is missing.
4 verified of 10 core capabilities
401(k) Providers
- Plan design and document6
- Participant recordkeeping7
- Payroll integration2
- Investment menu and default investment5
- Fiduciary services · not verified yet
- Compliance testing · not verified yet
- Form 5500 support · not verified yet
- Automatic enrollment · not verified yet
- Participant notices and education · not verified yet
- Fee disclosure · not verified yet
Specifications
Empower alternatives
Paychex Retirement Services80% similar
Principal Financial Group80% similar
Betterment at Work70% similar
Fidelity Workplace Investing70% similar
Human Interest70% similar- Vanguard Workplace Solutions70% similar
Support
About Empower Annuity Insurance Company of America
Official profiles
Empower: frequently asked questions
Where is Empower headquartered?
Greenwood Village, Colorado.
Does Empower offer a mobile app?
Yes. Empower publishes mobile apps, and participants follow their accounts in the Empower Personal Dashboard.
What support does Empower give plan sponsors?
A dedicated plan sponsor support team, plus the Plan Service Center with 24/7 access to service inquiries.
Does Empower serve government and nonprofit plans?
Yes. Empower lists government, nonprofit and Taft-Hartley union plans, with 403(b) and 457 plans next to the 401(k).
Does Empower work with governments and nonprofits?
Yes. Empower lists government, nonprofit and Taft-Hartley union plans, with 403(b) and 457 plans next to the 401(k).
What is Empower used for?
Empower is a 401(k) providers product built for small businesses, mid-market companies, and enterprises. Its modules include 401 and Roth 401, 403, 457 and 457, 401, and 4 more.
What are the best alternatives to Empower?
In our 401(k) providers ranking, the highest-scored products other than Empower are Human Interest, Betterment at Work, and Fidelity Workplace Investing. Compared side by side, by reason to switch: Empower alternatives.
What are the pros and cons of Empower?
Strengths documented on the vendor’s own pages: plan type range, sponsor tools, and security attestation. It is less suited to buyers who want published 401(k) prices and buyers who require ISO 27001 certification (policies are described as aligned with it).
How this page was made
What it is built from
13 verified facts, each checked against the vendor's own pages or another primary source, most recently on Oct 24, 2026.
Method
Scored and compared with the LeadChange methodology, version 1.5. Read the methodology
Independent review
Our independent review of Nov 6, 2026 asked for changes. How we review
Hands-on testing
We have not tested Empower hands-on: this page uses public information only.
Who made it
The LeadChange Research Team, following a written research process. No named expert has reviewed this page. About us
Independence and errors
Who pays us never changes a score or a rank. If something here is wrong, tell us and we correct it publicly. Request a correction
Is Empower right for your team?
Empower quotes its prices. Answer one quick question to see the 2 alternatives that fit you best.
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How we make money
LeadChange may earn a fee when you request pricing through our site or follow a sponsored link. Rankings never depend on whether a vendor pays us.
Empower
Sources
The 7 pages this page's facts come from. The date beside each is our last check of the facts taken from it (the oldest, when they differ). The numbers beside the figures above link here.
Quotes from the sources
- Empower empower.com/plan-sponsors/what-we-offer/defined-contribution-plans“Flexible support across every sector and size” “Government entities • Non-for-profit organizations • Taft-Hartley organizations”
- Empower empower.com/plan-sponsors/empower-difference/plan-administration“401(k), 401(a), 403(b), 457(b), 457(f), and Roth 401(k).”
- Empower empower.com/plan-sponsors/what-we-offer/small-to-mid“Access a secure hub, available 24/7, designed to simplify plan management.” “Participants can enroll, adjust contribution rates, track progress, and view their complete financial picture — all in one place, on web or mobile.”
- Empower empower.com/plan-sponsors/about-empower/cybersecurity“Unqualified SOC 2 Type 2 third-party attestation”
- Empower empower.com/plan-sponsors/what-we-offer/advice-guidance“Connect with us by phone, online, or in person — where available.”
- Empower empower.com/plan-sponsors“Service you can count on, plan expertise you can trust Contact us”
- Empower empower.com/plan-sponsors/about-us“And in 2014, our parent company, Great-West Lifeco, created Empower.” “Greenwood Village, CO, Headquarters”
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