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"1, 1 2013 Annual DCP Participant Study, conducted by Boston Research Group. Read each carefully before investing. Contact us for a prospectus, summary prospectus or disclosure document containing this information. Not all product offerings and services are available for all retirement plans. The Massachusetts Deferred Compensation 457 SMART Plan is a retirement savings program available for Commonwealth of Massachusetts state and municipal employees. Tennessee State Capitol Learn more, You May Like: How Do You Take Money Out Of 401k. Best Retirement Income Funds of March 2023 - Forbes Advisor If you are within three years of your normal retirement age, you may use a special catch-up contribution, which allows you to save an additional $22,500. Once youre ready to take the next step, read on for some tips and tricks. When you need it, it is tax-free, said Rain. Empower Retirement offers a large collection of customer resources, and Empower Retirement participants can create their own accounts and Empower Retirement logins to view and even change their investments whenever they want to. Participating members who do not specify an investment choice will be placed in the target date fund that is closest to the date the member turns 65. There is no guarantee provided by any party that participation in any of the advisory services will result in a profit. ETFs are not mutual funds. Do-it-for-me investor who prefers a professionally managed account, Knowledgeable do-it-myself investor who understands the risks associated with the investments available through a brokerage account, Choose from thousands of mutual funds, exchange-traded funds (ETFs), individual equities and fixed-income securities.4, Available through My Total Retirement (no-obligation 90-day trial)5, Access to professional guidance from an advisor when you want it, Low-cost or complimentary comprehensive financial planning with a financial professional who is certified, No setup, administrative, closure or transaction fees1, No annual maintenance fee for account balance of $100,000 or greater, Commission-free online stock and ETF trading up to the first 1,000 trades placed online each calendar year; $6.95 per trade thereafter4. 2023 Empower Annuity Insurance Company of America. Great-West Financial, Empower Retirement and Great-West Investments are the marketing names of Great-West Life & Annuity Insurance Company, Corporate Headquarters: Greenwood Village, CO; Great-West Life & Annuity Insurance Company of New York, Home Office: New York, NY, and their subsidiaries and affiliates, including registered investment advisers Advised Assets Group, LLC and Great-West Capital Management, LLC. All rights reserved. But remember, taxes and IRS penalties will leave you with less than you thought. Read each carefully before investing. Unlike mutual funds, individual shares of ETFs are not redeemable directly with the issuer. If you rolled after-tax deferrals from an employers plan into a traditional IRA, you may not subsequently roll those after-tax deferrals to another employers retirement plan. No fees and low minimums to open an account 1. You can open an Empower Premier IRA in less than 10 minutes. An investment in a Money Market Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. ETFs are not mutual funds. It's best to just keep it simple. The results may vary with each use and over time. 2 The first one thousand trades (1,000) placed online each calendar year are $0; thereafter, each online trade will be charged $6.95. Please consult with your financial advisor, call (866) 317-6586 to speak to a retirement consultant, or email us at RetirementSolutionsService@empower-retirement.com.