Empower has announced the launch of the first-ever zero-fee index fund designed specifically for retirement investors.
The new fund, the Empower S&P 500 Index Separate Account, offers broad market exposure with no management fees. By eliminating fees entirely, Empower aims to give retirement plan participants the full power of compound growth potential to help close the retirement savings gap for millions of Americans.
The fund will be available to all investors saving for retirement through defined contribution (DC) plans, including 401(k), 401(a), 457(b) and defined benefit plans as well as other qualified retirement accounts. This fund seeks investment results that track the total return of the common stocks that compose the Standard & Poor’s (S&P) 500 Index and is sub-advised by BlackRock.
