GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)--Empower announced today that Brown and Caldwell (BC) has signed on to renew the two-decade long relationship with the retirement plan provider. Empower will continue to deliver retirement services to approximately 2,000 BC employees. The savings plan has $470 million in assets.
“We are in a business that requires trust from the people we serve. We are so grateful that Brown and Caldwell, also locally based in Colorado, recognizes that trust — and the values what we have built together,” said Rich Linton, president and chief operating officer, Empower. “Successful relationships like this are what matters most — and all of us at Empower look forward to partnering with the BC team for many more years to come.”
Brown and Caldwell, based in Golden, Colo., is the largest environmental engineering firm in the United States, and its goal is to make a positive impact on the environment and the world.
It has been an Empower client since 2002.
“BC takes its relationship with Empower very seriously because together, we are providing the necessary tools, resources and investment vehicles to care for the long-term financial future of our workforce,” said Bob Chapman, senior vice president and Chief People Officer at Brown and Caldwell.
Kyli Soto, vice president, Gordon Tewell, principal and Peter Mustian, principal, all of Innovest Portfolio Solutions, LLC were the advisors to the transaction.
About Empower
Headquartered in metro Denver, Empower administers approximately $1.2 trillion in assets1 for more than 17 million retirement plan participants1 and is the nation’s second-largest retirement plan recordkeeper by total participants.2 Empower serves all segments of the employer-sponsored retirement plan market: government 457 plans; Taft-Hartley plans; small, mid-size and large corporate 401(k) clients; nonprofit 403 (b) entities; private-label recordkeeping clients; and IRA customers. Personal Capital, a subsidiary of Empower, is an industry-leading hybrid wealth manager. For more information please visit empower.com and connect with us on Facebook, Twitter, LinkedIn and Instagram.
1 As of June 30, 2022. Information refers to all retirement business of Empower Annuity Insurance Company of America (EAIC) and its subsidiaries, including Empower Retirement, LLC; Empower Life & Annuity Insurance Company of New York (ELAINY); and Prudential Retirement Insurance & Annuity Company (PRIAC), marketed under the Empower brand. EAIC’s consolidated total assets under administration (AUA) were $1,289.3B. AUA is a non-GAAP measure and does not reflect the financial stability or strength of a company. As of June 30, 2022, EAIC’s statutory assets total $77.2B and liabilities total $74.3B. ELAINY’s statutory assets total $6.9B and liabilities total $6.7B. PRIAC’s statutory assets total $82.1B and liabilities total $80.8B.
2 Pensions & Investments 2021 Defined Contribution Survey Ranking as of April 2022.
On August 1, 2022, Empower announced that it is changing the names of various companies within its corporate group to align the names with the Empower brand. For more information regarding the name changes, please visit empower.com/name-change.
Securities, when presented, are offered and/or distributed by Empower Financial Services, Inc., Member FINRA/SIPC. EFSI is an affiliate of Empower Retirement, LLC; Empower Funds, Inc.; and registered investment adviser Empower Advisory Group, LLC. This material is for informational purposes only and is not intended to provide investment, legal or tax recommendations or advice.
Empower refers to the products and services offered by Empower Annuity Insurance Company of America and its subsidiaries, including Prudential Retirement Insurance and Annuity Company and Empower Retirement, LLC. All product names, logos and brands are property of their respective owners.
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