How to name beneficiaries and fund a trust at Empower
Covers 10 retirement, 2 investment, and 1 deposit accounts — beneficiaries can be managed online
Beneficiary Support Services
Empower, P.O. Box 173764, Denver, CO 80217-3764. Express mail: Empower, 8515 E. Orchard Rd., Greenwood Village, CO 80111.
Estate planning for Empower retirement retirement accounts revolves around beneficiary designations. These designations—not a will—control who receives the account balance at death. For IRAs and employer-sponsored plans, the beneficiary designation also determines the tax treatment of inherited distributions, making it a decision with both legal and financial implications.
Across 13 product types, Empower retirement accounts vary in how they transfer at death. The sections below walk through beneficiary designations on tax-advantaged accounts, trust funding options, and which products support each method.
- Add or edit primary and contingent beneficiaries
- For trusts: select trust as the beneficiary type and provide the trust name, date established, and EIN
- Specify percentage allocations for multiple beneficiaries (must total 100%)
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- Trusts can be named as beneficiaries on all Empower account types
- ERISA requires WRITTEN SPOUSAL CONSENT on Empower-recordkept qualified employer plans (401(k), 403(b), defined benefit/pension) when a married participant names anyone other than the spouse as primary beneficiary. The consent must be signed by the spouse and witnessed by a notary public or a plan representative; a consent the spouse signs alone is not valid and Empower will pay the surviving spouse under the plan document regardless of the designation on file
- The spousal-consent requirement does not apply to Empower IRAs, the Empower Investment Account, the Empower Personal Wealth brokerage account, or Empower Personal Cash (though state community property law may still give a spouse rights)
- On employer plans, the plan document controls what designations are permitted; some plans route beneficiary changes through the plan sponsor rather than the participant portal
- Primary and contingent beneficiaries allowed; percentage allocations must total 100%
- Per stirpes designation may be available depending on the plan
- Beneficiary designations override instructions in a will
- For employer-sponsored plans, beneficiary options may be governed by the plan document
- Empower Personal Cash accounts support primary beneficiaries only (no contingent beneficiaries); beneficiaries can only be added via full web browser
Sources
Data sourced from Empower primary sources (20 pages reviewed). How we research.
Download these Empower instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Empower primary sources. Bring it to the branch or keep it beside the phone.
Beneficiary Support Services
Empower, P.O. Box 173764, Denver, CO 80217-3764. Express mail: Empower, 8515 E. Orchard Rd., Greenwood Village, CO 80111.
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