Empower Retirement, the nation’s second-largest retirement services provider,1 has teamed with a leading stock plan services provider to create a one-stop user experience that allows employees to see their retirement and stock plan accounts in one place.
In this new alliance between Empower and E*TRADE Financial Corporate Services, Inc., employers can offer their employees the added perk of integrated financial benefits with a consolidated view of their Empower Retirement and E*TRADE stock plan accounts.
This alliance will allow employees to model their stock plan and retirement plan balances into their retirement projections, giving them the ability to coordinate equity compensation with their retirement plan and receive a broader view of their saving and investing picture.
“This one-stop view of retirement and stock plans will allow employees to move toward a broader view of their financial outlook,” said Edmund F. Murphy, III, President and CEO of Empower Retirement. “This is an important and powerful step for savers who want to develop a more complete financial picture which also gives them the edge in plotting the path toward achieving their financial goals.”
The integrated service will be offered to employers who provide equity compensation plans through E*TRADE and retirement plan services from Empower. Employees benefit from a single sign-on experience between both platforms, and view of their stock plan account balance alongside their retirement plan balance to get a more holistic view of their financial picture. They will also have access to both customer service teams.
“The participant site we offer has been consistently rated highest among full administration plan sponsors for its ease of use,” said Scott Whatley, President of E*TRADE Corporate Services. “To raise the bar even further, we are teaming up with Empower to deliver an experience that allows participants to view these important benefits in one place and receive a more comprehensive picture of their workplace financial solutions.”
Available later this year, the new service from Empower and E*TRADE will be available for employers to adopt at no additional charge.
1 Empower Retirement is the nation’s second-largest retirement plan record keeper by total participants, according to Pensions & Investments, April 2019.
About Empower Retirement
Headquartered in metro Denver, Empower Retirement administers $673 billion in assets for approximately 9.4 million retirement plan participants, as of Dec. 31, 2019. It is the nation’s second-largest retirement plan record keeper by total participants, according to Pensions & Investments, April 2019. Empower serves all segments of the employer-sponsored retirement plan market: government 457 plans; small, midsize and large corporate 401 (k) clients; non-profit 403 (b) entities; private-label recordkeeping clients; and Individual Retirement Account customers. For more news and thought leadership, please visit Empower-Retirement or follow us @EmpowerToday.
About E*TRADE Financial and Important Notices
The E*TRADE Financial family of companies provides financial services, including trading, investing, banking, and managing employee stock plans. Employee stock plan solutions are offered by E*TRADE Financial Corporate Services, Inc. Securities products and services are offered by E*TRADE Securities LLC (Member FINRA/SIPC). Commodity futures and options on futures products and services are offered by E*TRADE Futures LLC (Member NFA). Managed Account Solutions are offered through E*TRADE Capital Management, LLC, a Registered Investment Adviser. Bank products and services are offered by E*TRADE Bank, and RIA custody solutions are offered by E*TRADE Savings Bank, both of which are national federal savings banks (Members FDIC). More information is available at www.etrade.com.