Empower Annuity Insurance Company Of America

Empower Annuity Insurance Company of America, also known as Empower, is a retirement plan recordkeeping financial holding company based in Greenwood Village, Colorado, United States. It is the second-largest retirement plan provider in the United States. The company was created in 1891 when its parent company, Great-West Life, was founded as an insurance provider on the Canadian prairie. The modern iteration of Empower was launched in 2014 when the retirement businesses of Great-West Life combined the record-keeping services of Great-West Financial, JPMorgan Chase, and Putnam Investments. Empower is an indirect wholly owned subsidiary of Great-West Lifeco and is led by President and CEO Edmund F. Murphy III. As of June 2020, Empower has administered more than $1.0 trillion in assets for 12.0 million individuals over 67,000 Organization retirement plan participants. The company has also made several acquisitions, including Personal Capital, an investment and wealth management adviser, for $825 million, and the retirement plan business of MassMutual for $4.4 billion.