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What is my total retirement?

Murphy notes that My Total Retirement includes fiduciary support that is designed to keep the best interests of participants in mind through improved employee education. In line with U.S. Department of Labor (DOL) Qualified Default Investment Alternative (QDIA) rules My Total Retirement may serve as a plan’s default option.

Does empower offer a 401(k) plan?

Portfolios include both ETFs and individual stocks for accounts that qualify ($200K minimum). Clients must move money to Empower's custodian, Pershing LLC. Empower also provides investment reviews and recommendations for 401 (k) and IRA accounts and can also manage active 401 (k) plans.

What is the expense ratio at empower 401k?

The expense ratios at Empower range from 0.25% to 0.75% for different funds available in their 401k plans. This is quite high compared to passive index funds offered by Charles Schwab or Firstrade, which have ratios between 0.03% and 0.10%. These lower-cost funds often perform better than many others.

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