Empower Gives $100,000 to Support Pandemic Relief Efforts in India | Financial Buzz

Empower Gives $100,000 to Support Pandemic Relief Efforts in India

Empower Retirement is announcing a donation of $100,000 to support relief efforts in India for those affected by an intense COVID-19 outbreak in the South Asian country.

Empower will make donations to the Red Cross, which through its Indian operations has been providing ambulance services, first aid, medical care and oxygen to some of the sickest people. Indian Red Cross branches across the country are also supporting the vaccination campaign, including providing vaccinations and running vaccine awareness campaigns, as well as offering Red Cross clinics and medical facilities as vaccination centers.

“The situation in India requires the world’s attention and we must do everything we can to help with relief efforts,” said Empower Retirement President and CEO Edmund F. Murphy III. “Our donation will go to support relief efforts and help those with the most immediate needs. We will continue to keep our thoughts and prayers focused on those who are suffering.”

Empower has operations in Bangalore, India, with more than 1,400 associates based there, who provide operations and technology support to the organization in North America.

In addition, through the company’s Associates Community Together (ACT) program, Empower is encouraging its associates to make financial donations to the Red Cross.

Empower launched its ACT program in 2016 to support the volunteer and giving efforts of its associates. Through the program, associates are provided 16 hours a year of paid volunteer time off from work. Empower also matches money donated to nonprofit organizations by associates of up to $5,000 annually.

“Our associates are asking how they can help their colleagues and friends in India,” said Murphy. “Our ACT program is designed to amplify our employees’ commitments to their communities by matching their contributions.

“We hope our combined effort can help those hit hardest in India during this uncertain and daunting time,” he said.

About Empower Retirement

Headquartered in metro Denver, Empower Retirement administers approximately $1 trillion in assets for more than 12 million1,2 retirement plan participants as of Jan. 31, 2021. It is the nation’s second-largest retirement plan recordkeeper by total participants.3 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 IRA customers. Personal Capital, a subsidiary of Empower Retirement, is an industry-leading hybrid wealth manager. For more information please visit empower-retirement.com and connect with us on Facebook, Twitter, LinkedIn and Instagram.

1)

As of December 31, 2020. Information refers to the business of Great-West Life & Annuity Insurance Company and its subsidiaries, including Great-West Life & Annuity Insurance Company of New York and a non-GAAP measure and does not reflect the financial stability or strength of a company. GWLA’s statutory assets total $75.1B and liabilities total $72.9B. GWLANY statutory assets total $3.6B and liabilities total $3.4B.

 

 

2)

Estimated assets after both the acquisition of the MassMutual retirement business and recent 1Q21 plan conversions.

 

 

3)

Pensions & Investments 2020 Defined Contribution Survey Ranking as of April 2021.

 
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.

Securities offered and/or distributed by GWFS Equities, Inc., Member FINRA/SIPC. GWFS is an affiliate of Empower Retirement, LLC; Great-West Funds, Inc.; and registered investment advisers, Advised Assets Group, LLC and Personal Capital. This material is for informational purposes only and is not intended to provide investment, legal or tax recommendations or advice.

FORWARD-LOOKING STATEMENTS DISCLAIMER

Certain statements in this press release constitute forward-looking statements representing management’s current view of future events based on reasonable assumptions. These statements are not guarantees of future performance as actual results may differ depending on the development and completion of this business combination. Consider these and other factors, uncertainties and potential events carefully and do not place undue reliance on forward-looking information. Other than as specifically required by applicable law, forward-looking information as a result of new information, future events or otherwise will not be updated.

Contacts

Empower Retirement:

Stephen Gawlik, Stephen.Gawlik@empower-retirement.com, 617-417-4408

Monica Mendoza, Monica.Mendoza@empower-retirement.com, 719-373-2460