109+ years serving customers
The heritage of Empower Retirement, as well as Great-West Financial, dates back to 1891, when our parent company was founded by Jeffry Hall Brock on the Canadian prairie. U.S. sales began in 1906, with the company originally organizing in 1907.
Empower Retirement, along with Great-West Financial, is part of Great-West Life & Annuity Insurance Company (GWL&A). It is an indirect wholly owned subsidiary of Great-West Lifeco Inc. and “A Member of the Power Financial Corporation Group of Companies®.” (See the corporate structure for more information.)
The following chronology illustrates how we have evolved through the years to address Americans’ financial security.
Our history and heritage
Empower realigned institutional recordkeeping business FASCore, LLC to become Empower Institutional.
Empower teed off partnership with professional golfer Robert Streb.
Empower launched enhanced Web experience for 7.5 million participants.
Empower inked partnerships with the Denver Broncos, the New England Patriots and the Kansas City Chiefs as official sponsors.
Empower’s parent company launched the Empower Institute to provide thought leadership on issues and challenges related to retirement savings, guaranteed income and investing solutions.
Bringing together three organizations, Edmund F. Murphy III named to head Empower Retirement.
Empower expanded its retirement division with the integration of the defined contribution business of affiliate Putnam Investments. The combined Empower business became the nation’s second-largest retirement services provider with more than 7 million plan participants.1
Empower acquired J.P. Morgan Retirement Plan Services' large-market recordkeeping firm.
Robert L. Reynolds named CEO of GWL&A, leading both Great-West Financial and Empower.
The company introduced a financial literacy grant initiative to help promote financial education among students in Colorado schools.
Franklin Templeton Investments transitioned its 401(k) recordkeeping business to Empower.
Empower acquired a block of 401(k) and defined benefit plan businesses from Metropolitan Life Insurance Company and its affiliates, as well as General American Life Insurance Company and New England Life Insurance Company. It also acquired U.S. Bank’s bundled, full-service defined contribution business.
Empower acquired 401(k) administration subsidiary EMJAY Corp. and the group retirement business of Federated Insurance Companies.
GWL&A established Financial Administrative Services Corporation (renamed FASCore, LLC), as a wholly owned subsidiary to provide recordkeeping and administrative services for retirement plans offered by other financial institutions.
The Great-West Life Assurance Company (Great-West Life) completed the transfer of its U.S. operations to U.S. subsidiary GWL&A. GWL&A's retirement business, now known as Empower, introduced a proprietary retirement plan recordkeeping platform.
The company began offering services to 401(k) defined contribution plans for private employers.
Outgrowing its downtown Denver location, the company moved its U.S. headquarters to its current campus in Greenwood Village, Colorado.
The formal process of splitting U.S. and Canadian operations began. The company built a new office complex in downtown Denver to house its U.S. headquarters.
Empower began offering services to Section 457 deferred compensation plans for public sector employees in the U.S.
The company began offering services to Section 403(b) retirement savings plans for nonprofit organizations. U.S. customers accounted for half of Great-West Life’s annual sales.
Empower began offering services to tax-advantaged retirement savings plans for U.S. employers under Internal Revenue Code Section 401(a).
The company, now known as GWL&A, was incorporated in Kansas as The National Interment Association.
Great-West Life opened its first U.S. sales office in Fargo, North Dakota.
The Great-West Life Assurance Company ("Great-West Life") was incorporated in Winnipeg, Manitoba.
1 As of December 31, 2014; PLANSPONSOR, June 2015. Information refers to all retirement business of Great-West Life & Annuity Insurance Company and its subsidiaries.
Great-West Financial and Empower Retirement refers to the products and services offered by Great-West Life & Annuity Insurance Company (GWL&A), Corporate Headquarters: Greenwood Village, CO; Great-West Life & Annuity Insurance Company of New York, Home Office: NY, NY; and their subsidiaries and affiliates. The trademarks, logos, service marks, and design elements used are owned by their respective owners and are used by permission."A Member of the Power Financial Corporation Group of Companies" is the registered mark of Power Corporation of Canada.