Faith-based
Faith-based
Empower serves more than 500 churches and religion-affiliated organizations1
Empower serves more than 500 churches and religion-affiliated organizations1
Our experience in this market allows us to meet the challenges specific to your organization's needs.
We offer:
We offer:
Expertise in handling qualified church-controlled (QCCO) and nonqualified church-controlled organizations (non-QCCO).
Support for both ERISA and non-ERISA plan designs.
Proven aggregation services across legacy providers.
A dedicated faith-based service team.
Strategy
- Re-enroll anyone not currently saving at 3%.
- Add an auto increase feature to existing auto-enroll process to boost savings rates by 1% annually (up to 10%).
- Roll out new plan sponsor-directed increase of 1% each year for those saving under 10%.
Results2,3
- Increased plan participation from 88% to 93%.
- Raised the average savings rate from 8% to 8.6%.
- Systematically helping 731 participants save more toward their retirement goals.
1 Empower data as of April 1, 2022. Information refers to all participants in faith-based plans administered by Empower.
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