Financial Wellness
Our approach to education includes providing employees with information, resources and solutions that help them take control of their finances.
At Empower Retirement, we’re helping employees remove the financial barriers preventing them from replacing — for life — income made while working.
That’s why we create solutions that help with their current financial needs. Helping employees take control of their finances today can help them save more for their future.
Our simple, intuitive and actionable solutions are focused on three important areas:
1. Personal consultations
Empower believes everyone should have the chance to achieve retirement readiness. For many, that means more than just simply saving in a workplace savings plan. This is why we support consultative discussions and have expanded our suite of services.
For those employees not already working with a financial professional or advisor, our financial counselors provide support in two ways:
Phone consultations
In-person seminars, workshops and one-on-one consultations
Counselors can assist your employees in a variety of areas:
2. Health and Wealth solutions
Empower Retirement has partnered with Optum®, the largest health savings account (HSA) services provider and wellness leader, to provide an industry-leading, retirement-oriented HSA. Saving for healthcare costs in retirement has never been easier.
Provides deep integration with the Empower participant experience
The first-time integration of future income projections with retirement plan balances and projections is coupled with the ability for plan participants to change HSA contribution amounts.
Supports current healthcare needs
Empower HSA supports medical claims integration, facilitates direct payments to providers, issues debit cards and offers many other services associated with an HSA.
Empower Student Debt Solution
Empower’s Student Debt Solution3 is designed to help your employees pay off their student debt. While the program offers lending products and guidance tools that can help employees save on their student loan payments, you can also help them pay down their student debt. Or you can choose to contribute to their retirement plan accounts based on their student loan payments.
Help your employees reduce the financial stress associated with paying down their student debt.
3. Helpful Financial Education
We focus on a family’s financial wellness needs across all generations, providing simple and actionable education organized in the following categories:
Spending
We help employees manage ongoing income and expenses and control debt. For example, we show them how to potentially pay off debt utilizing a simple method.
Investing
We provide information covering basic investing concepts to help employees make more informed choices.
Saving
We emphasize saving for retirement as well as the importance of saving for a rainy day or other important short-term goals.
Protecting
We explain in simple terms principles related to insuring against loss of income, taxes, Social Security optimization and creating a legacy.
Visit Our Financial Wellness Site
1 Online advice and the managed account service are part of the Empower Retirement Advisory Services suite of services offered by Advised Assets Group, LLC, a registered investment adviser
2 The managed account service offered through Dynamic Retirement Manager is provided by AAG.
Investments are not FDIC insured, are not guaranteed by Optum Bank® and may lose value.
Educational, communication and operational services regarding Empower HSA may be provided by registered representatives of GWFS. By electing Empower HSA, plan participants are contracting directly with Optum and its affiliates for this service. GWL&A, or its subsidiaries or affiliates, is not affiliated with Optum and is not responsible for their services.
Health savings accounts (HSAs) are individual accounts offered or administered by Optum Bank®, Member FDIC, and are subject to eligibility and restrictions, including but not limited to restrictions on distributions for qualified medical expenses set forth in section 213(d) of the Internal Revenue Code. State taxes may apply. Fees may reduce earnings on account. This communication is not intended as legal or tax advice. Please contact a competent legal or tax professional for personal advice on eligibility, tax treatment and restrictions. Federal and state laws and regulations are subject to change.
All Optum trademarks and logos are owned by Optum®. All other brand or product names are trademarks or registered marks of their respective owners. Because we are continually improving our products and services, Optum reserves the right to change specifications without prior notice. Optum is an equal opportunity employer.
3 Some features may not be available and are subject to change without notice.
Great-West Financial®, Empower Retirement and Great-West Investments™ are the marketing names of Great-West Life & Annuity
Insurance Company, Corporate Headquarters: Greenwood Village, CO; Great-West Life & Annuity Insurance Company of New York,
Home Office: New York, NY, and their subsidiaries and affiliates, including registered investment advisers Advised Assets Group,
LLC and Great-West Capital Management, LLC.
The Empower Retirement Student Debt Solution is provided by CommonBond, Inc. which is not affiliated with Great-West Life &
Annuity Insurance Company, Great-West Life & Annuity Insurance Company of New York or their subsidiaries and affiliates.