GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)--Empower today expressed strong support for a new executive order directing the Department of Labor (DOL) to reevaluate guidance around alternative asset investments in retirement plans and work with the Securities and Exchange Commission (SEC) and the Treasury Department to explore expanded access to a broader range of asset classes—including private investments, cryptocurrency, lifetime income, and other investment types—within 401(k) and other defined contribution plans.
Empower believes that retirement plan sponsors should have the flexibility to prudently offer participants exposure to modern, diversified investment strategies that were previously limited to institutional and high-net-worth investors.
“This is a pivotal moment in the evolution of retirement planning,” said Edmund F. Murphy III, President and CEO of Empower. “By opening the door to additional types of assets, we can offer everyday savers access to the same opportunities that have historically powered institutional portfolios.”
The announcement aligns closely with Empower’s mission to modernize and democratize retirement investing. The company has launched a new suite of professionally managed investment options that include private market strategies—such as private equity, private credit, and private real estate—delivered through Collective Investment Trusts (CITs) and managed account solutions in partnership with leading asset managers and custodians.
These offerings are designed with a strong emphasis on fiduciary oversight, participant education, and compliance with ERISA standards. Plan sponsors can tailor solutions based on risk profiles and time horizons, while participants benefit from diversified access previously out of reach in traditional 401(k) offerings.
“We support the administration’s efforts to expand investment choice, increase portfolio resilience, and improve long-term growth potential for retirement savers,” Murphy added. “When implemented with proper safeguards, this move will transform how Americans build wealth for retirement.”
Empower’s approach ensures that alternative investments are integrated only through carefully vetted and professionally managed channels. Each investment option undergoes rigorous due diligence and is made available at the discretion of plan fiduciaries who follow a prudent selection process.
With this initiative, Empower reaffirms its commitment to expanding access while maintaining the integrity and security of employer-sponsored retirement plans.
Related news:
Empower to Offer Private Markets Investments to Retirement Plans | Empower
ABOUT EMPOWER
Recognized as the second-largest retirement services provider in the U.S.1 by total participants, Empower administers approximately $1.8 trillion in assets2 for more than 19 million individuals2 through the provision of retirement plans, advice, wealth management, and investments. Connect with us on empower.com, Facebook, X, LinkedIn, TikTok, and Instagram.
1 | Pensions & Investments DC Recordkeeper Survey (2024). Ranking measured by total number of participants as of December 31, 2023. | |
2 | As of March 31, 2025. Information refers to all retirement business of Empower Annuity Insurance Company of America (EAICA) and its subsidiaries, including Empower Retirement, LLC; Empower Life & Annuity Insurance Company of New York (ELAINY); and Empower Annuity Insurance Company (EAIC), marketed under the Empower brand. EAICA’s consolidated total assets under administration (AUA) were $1.771B. AUA is a non-GAAP measure and does not reflect the financial stability or strength of a company. EAICA’s statutory assets total $70.13B and liabilities total $65.3B. ELAINY’s statutory assets total $7.35B and liabilities total $6.92B. EAIC’s statutory assets total $105.59B and liabilities total $104.57B. |
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Learn more:
To learn more about how we’re empowering plan sponsors and their participants to be more engaged in their retirement plans than ever before, call us at 800-719-9914.
Contacts
Media contacts:
Stephen Gawlik - Stephen.Gawlik@empower.com
Mandy Cassano - Mandy.Cassano@empower.com