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General Discussion

Public·81 members
Jesse Slone
Board Member
Negotiator

ATTN Tier IV (Defined Contribution) Retirement Plan Members


I would like to thank Mike Williams, our SU Board Secretary, and the ARM Board for helping identify and shut down Empower's imprudent practice of basically charging more for lower-performing retirement services.


With the help of members and independent analysis by Callan, they discovered that the product offered by Empower, My Total Retirement, was more costly and typically produced poorer returns than the standard target retirement funds.


Please take the time to review your investments and book an appointment to check in with your investment accounts that are managed by Empower.


Here is the announcement from AK DRB

Ak DRB > Important Information Regarding Managed Account Services (alaska.gov)

And the full report (Warning, not an easy read)

2023-18-empower-managed-account-service_w.attachments_final.pdf (alaska.gov)