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Great American Life, which provides fixed indexed and registered index-linked annuities to some 50,000 retail advisors, is relinquishing the name back to its former parent and rebranding to MassMutual Ascend.
Once all claim requirements are received in good order, benefit payment will be processed within 10 business days. Please know that youre able to decide how you would like to receive your payment through a variety of payment options.
Empower is the nations second-largest retirement services provider. The acquisition increases Empowers participant base to more than 12 million and retirement services recordkeeping assets to approximately $884 billion administered in approximately 67,000 workplace savings plans.
Hardship withdrawals Those experiencing a true financial crisis may be eligible for a hardship withdrawal from their 401(k) plan. As with loans, your plan sponsor is not required to offer hardship withdrawals and it is up to them to determine which conditions apply.
Between 2020 and 2022, Empower cemented its position as an industry leader with the acquisitions of Personal Capital and the financial retirement businesses of MassMutual and Prudential.
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You can do either a direct rollover or a 60-day rollover. If you do a direct rollover, the Plan will make the payment directly to your IRA or an employer plan, or if your payment is from a Designated Roth Account, to your Roth IRA or Designated Roth Account in an employer plan.
Empower Annuity Insurance Company of America is an indirect wholly owned subsidiary of Great-West Lifeco Inc.
The deal adds to MassMutuals agency force of more than 5,600 financial professionals. MassMutual is also acquiring MetLife Securities, Inc., MetLifes affiliated broker-dealer. The MetLife transaction will result in the transformative creation of a distribution powerhouse, Mr. Crandall said in a statement.
Colorado-based Empower, the second-largest recordkeeper behind Fidelity, acquired MassMutuals retirement plan business in January 2021. The latest news raised interesting points about plan sponsor responsibilities as the retirement plan industry consolidates.
How do I cancel my policy? We would love the opportunity to understand why you want to cancel your policy and how we can help. To discuss alternative options or have us assist you with closure, please call 1-800-272-2216 or docHub out to your financial professional.

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