Empower Retirement

Sucks at investing

Auto enrolled into this shit-stain of an Empower Retirement through my internship. Despite opting out, they put me back in when it came time to process the first payment.

These assholes took about $130 off my paycheck and refused to give it back until 2 months after it “vested” (that or some other bullshit–regardless, it was way too long for what amounted to a refund).

Once it came to that time, I was given a few other reasons to delay my payment.

I can’t remember what for, as it was three months ago, and those reasons basically amounted to them being a bureaucratic hellscape.

But finally, I got them to start the refund–only after realizing, to my horror, that they “invested it.”

In the month they played it in the stock market, my $130 shrank to about $100—a loss.

I want to point out that this is the longest bull economy in our nation’s history. How in the economic fuck did they pull that off?

Naturally, they took a fee for the refund, and then I incurred a $19 tax for the early withdrawal of my 401k.

The auto-enroll payment that should have never went through occurred in August 2018.

It is now February 2019, and I am looking at a $77 check from Empower.

While I figure getting that back is better than forgetting about the account forever, I’m still pissed that we live in a world where companies like this exist.

tl;dr: Anti-consumer. Bureaucratic. It sucks at investing. They all probably eat babies.

Is Empower Retirement a scam?
Empower Retirement is a scam and a bad service provider as per the report filed on dirtyscam.com. They are not aggressive towards their customer satisfaction and complaint grievance.
Is Empower Retirement legit?
First Empower Retirement is not a legit business owner or provider. You must take necessary precautions/measures before buying or using their services.
How many reviews are submitted by Empower Retirement’s consumers?
There is/are 55 review(s) posted about Empower Retirement and it indicates that the severity of the scam is Extremely High.
Where is Empower Retirement located?
Empower Retirement is located at Englewood, CO 80111, USA. You can contact Empower Retirement by dialing (855) 756-4738 or visit their website empower-retirement.com before filing a lawsuit. We are no way affiliated with better business bureau or yelp reviews platform.
How much monetary loss is incurred by Empower Retirement’s customers?
According to the report(s), US $12547 was the total loss incurred by Empower Retirement’s customers.

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55 Reviews on Empower Retirement

  1. Avoid Empower Retirement LLC AT ALL COSTS

    Due to poor customer service, misleading information, and “internal processing” it will take almost 2 months before I will receive my distribution. I will not tolerate this organization holding MY money hostage and filed a complaint with the BBB which I recommend you do as well, or avoid them all together.

  2. Stole my money from existing account

    Had my IRA account and got a letter one day saying it was transferred to Empower. I never gave permission. I said I want it back and now it is several days and forms to be filled out to get it back. They locked me out of my account after I requested the withdrawal form. I logged in no problem before I requested the withdrawal. Now they made me change the User name, after that required a verification code, the code was not sent for over and hour when it arrived it does not work ! I called and they needed a verification code to get thru the call, which then never provided. So I called the general number and waited over 45 minutes. They still could not give me a code that worked. Still locked out. One click and they stole my money, now hours and days of work to get it back. DO NOT USE EMPOWER !!!!!

  3. Very bad with the customer

    Very bad. I know the company is a mix of three companies and it shows. They don’t know what side is doing what. Unorganized and allot of flaws. Fidelity is the real deal. Also MerrillEdge and Schwab. Empower is somewhat of a joke. Took three platforms – formed one bad one. Needs more guidance and new leadership.

  4. A shady business indeed – I had rolled over my 401k into a separate retirement account and they did not include interest leaving $31.37 in the account. They wanted to then charge me $50 to cut a check?!?! Wow, they just stole my hard earned money… Wow

  5. WAS STILL PENALIZED AFTER A ROLLOVER.

    ON 9/30/20 I DID AN INITIAL ROLL OVER FROM THEIR 401K PLAN TO THEIR TRADITIONAL BROKERAGE IRA. AFTER SIX MONTHS OF NOT LIKING THE SERVICE, WAS LOSING MONEY DURING BULL MARKETS, I DID ANOTHER ROLL OVER OF $1000,000TO ANOTHER FINANCIAL BROKERAGE COMPANY. TODAY, 2/12/21 I RECEIVED A 1099G IN THE AMOUNT OF $1000,000 TO FILE TAXES THROUGH IRA. I REFUSED BECAUSE I ROLLOVER THE AMOUNT. NEVER WITHDRAW IN CASH. MADE COPIES OF MY STATEMENTS AND LETTERS AS PROFF. FOLKS, STAY CLEAR OF THIS COMPANY. A COMPLETE FRAUD.

  6. Disorganized. Very bad customer service.

    Empower Retirement sucks. I’ve been trying to roll over my 401k for months and this still isn’t resolved. Going to start looking into legal action shortly.

Reviews:55
Reported Loss :12547 $
Severity of Scam :Extremely High
Reported by : Anonymous
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