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Empower Retirement complaints

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PO Box 173764
Denver, CO 80217-3764 | Get Directions

(800) 422-7910

http://www.empower-retirement....

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Total Amount in Dispute:
$343,811.00

Total Amount Settled:
$0.00

Complaint Experience

82%

Complaint Resolution Index (CRI)

Complaint Resolution Index (CRI) Explained The Complaint Resolution Index (CRI) is an indicator on how responsive a company is in addressing and resolving customer complaints brought to their attention by BCA. If they are considering doing business with the company, consumers can use this indicator to forecast the likelihood of having their issues addressed if a problem arises. CRI measures the company's customer satisfaction abilities through BCA’s complaint mediation process.

A variety of factors are considered when calculating CRI. This includes how quickly a company responds to complaints, the number of complaints against a company, whether the company addressed complaint allegations, and the outcome of the complaints. CRI is just a subset of the overall rating for the company. Consumers are encouraged to take into consideration the company's CRI, their overall BCA letter rating and other relevant information about the company so they can make a well-informed purchasing decision.

BCA's Summary and Analysis:

Our complaint history for this company shows that the company responded to and gave proper consideration to most complaints. However, one or more complaints are unresolved meaning the company failed to properly address the complaint allegations or their response was inadequate.

Complaint Closing Statistics

11 complaints against Empower Retirement closed in last 3 years.

Complaints	Type of response
0	Making a full refund, as the consumer requested
0	Making a partial refund
9	Agreed to make an adjustment
1	Refusing to make an adjustment
1	Refuse to adjust, relying on terms of agreement
0	Unanswered

11 complaints against Empower Retirement

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8/6/2024

RESPONSE: Agreed to make an adjustment Amount in Dispute: $0.00 Amount Settled: $0.00

Customer Complaint

7/30/2024

I retired from Burlington Stores on June 12,2024. I have made 7 phone calls to Empower; June 17 to July 25 to cash out my 401(k ) and received repeated promises for payment of approximately $18,800.00 for delivery by UPS. The confirmation number given to me on July 25 was 205-464-1285. My last contribution into the Savings Plan # 194748-01 was on June 28. Resolution Sought That Empower send check to me as promised. It is now past critical that I receive this payment.

Company Response

7/31/2024

Thank you for reaching out. We have forwarded your concerns internally to the appropriate department for further review. Once our internal review has been completed, you will be contacted.

Customer Rebuttal

8/3/2024

Many thanks for your reply. Empower has contacted me and processing was started. I expect to receive check around August 7. Will confirm receipt to you at the appropriate time. Kind regards.

Company Final Response

8/6/2024

Hello. Thank you for reaching out. We are sorry to hear about your poor experience with Empower but appreciate the feedback as we are always looking for opportunities to improve. If you require any additional assistance, please let us know.

11/7/2023

RESPONSE: Refusing to make an adjustment Amount in Dispute: $135,800.00 Amount Settled: $0.00

Customer Complaint

10/24/2023

Empower's Refusal to Liquidate 403B Account Initiated on August 21, 202 Empower accepted my withdrawal request on August 21 (Confirmation #2114391603), satisfying Step 1 of Empower's withdrawal workflow steps. September 14: Completed TSACG's Online Distribution Request, received via Email from WESD (Washington Elementary School District, Phx AZ)the Certificate of Transaction with Instructions, and uploaded WESD's email with TSACG's attachments to Empower's Participant's online portal. October 13: I received a call from Tito, the Service Delivery Manager, apologizing and stating Richard acted outside the scope of his authority. Client Services still requires approval from Plan Sponsor. I explained to Tito the prior conference call with Richard, WESD, and TSACG, that the Certificate of Transaction with Instructions issued by TSACG and previously forwarded to Empower by the Participant was the Plan Sponsor's authority to complete the withdrawal process. Tito disagreed, stating my comments didn't align with Richard's log documentation. I encourage Tito to replay voice recording per Empower's notice that phone conversations may be recorded. October 18, AM: I left a voice message with Service Delivery Managers Sammy and Tito, whom I have previously talked with. I called Empower and referred to Service Delivery Representative (Keisha). Keisha shared that the Client Services Manager Margorie Bellefleur is still waiting for a signature from TSA needed to update their s Resolution Sought Liquidate my 403B account and transmit funds to my designated Brokerage firm.

Company Response

10/25/2023

Thank you for bringing Business Consumer Alliance Complaint dated 10/24/2023 to our attention. In order to protect the privacy of our account holders, we will research the situation and will respond directly to Craig Carter. We again appreciate you bringing this matter to us for review.

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