Notice For Empower Account Holders
Empower Accounts Will Transition to AIG Retirement Services in September
At the time of the transition to a single-provider platform, we informed you that you could optionally transfer your assets from your Empower Retirement account to the new AIG Retirement Services platform. Empower accounts include those held through MassMutual (formerly the Hartford), which was acquired by Empower.
After the implementation, Empower informed CPS that it is unable to operate as a legacy vendor to the Plans and will cease serving as recordkeeper for CPS participants.
As a result of Empower’s decision – and in order to ensure that your account will continue to be maintained on a tax-advantaged basis – CPS will be working with Empower to transition your account, including any outstanding loan balance, to the new AIG Retirement Services mutual fund platform.
The transfer will take place in an automated fashion, with no action required by you. You don’t need to do anything right now unless you want to make changes to your account while it is still with Empower.
If you have questions about your current account at Empower Retirement, contact Empower at 1-855-756-4738 or access your account online at cpsretirementplans.empower-retirement.com. If you have questions about the transition of your account to AIG Retirement Services, contact the Talent Office at DCplans@cps.edu.
View the resources below for more information about the transition.