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Market Volatility: Due to recent volatility in the financial markets, before you make changes to your retirement account, it's important for you to review your retirement strategy and how it relates to your risk tolerance, time horizon until retirement and your savings goals before making any changes. Your retirement account should be viewed as a long-term savings and investment strategy, so decisions should be considered carefully. Read more

Faith-based

Empower proudly serves nearly 174,000 individuals from more than 650 churches and religion-affiliated organizations1

Our experience in this market allows us to meet the challenges specific to your organization's needs.

Not-for-profit-overview
Healthcare
Higher education
Faith-based
K-12+

We offer:

Expertise in handling qualified church-controlled (QCCO) and nonqualified church-controlled organizations (non-QCCO).

Recordkeeping flexibility to address unique plan provisions.

 

Proven aggregation services across legacy providers.



 

A dedicated faith-based service team.




 

Strategy

  1. Re-enroll anyone not currently saving at 3%.
  2. Add an auto increase feature to existing auto-enroll process to boost savings rates by 1% annually (up to 10%).
  3. Roll out new plan sponsor-directed increase of 1% each year for those saving under 10%.

Results2,3

  1. Increased plan participation from 88% to 93%.
  2. Raised the average savings rate from 8% to 8.6%.
  3. Systematically helping 731 participants save more toward their retirement goals.
Hands holding rosary beads

1 Empower data for all faith-based plans administered by Empower as of December 31, 2023.

2 Empower data as of 7/1/22 shows 731 of 868 targeted employees started saving more with the plan-initiated auto-increase.

3 Data provided is for illustrative purposes only and not a guarantee of future results. Results provided are based on The Diocese of Nashville plan data.

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