Empower Stock Plan Services on track for 30% annualized growth as demand for integrated workplace financial solutions continues to accelerate

Empower today announced significant growth and continued investment in its stock plan services business, marking a milestone in the company’s strategy to deliver a seamless, integrated experience for corporate plan sponsors and their employees who are compensated with equity. The business is expanding from a foundation in equity plan administration to a comprehensive suite of participant and executive services designed to help both employers and employees realize the full value of their equity compensation plans.

“Empower has established a reputation for service excellence and trust among retirement plan sponsors,” said Rich Linton, President and Chief Operating Officer, Empower. “Empower Stock Plan Services is building on that foundation and pairing it with Empower’s industry-leading participant experience — ensuring that every stakeholder – including issuers, wealth advisors and equity-compensated employees – has the tools and support to help drive greater engagement and financial security.”

Strategic Expansion Through Acquisition

Empower entered the stock plan administration market with its September 2024 acquisition of Plan Management Corp., creator of the OptionTrax® equity management platform. The acquisition established Empower’s presence in the growing equity compensation space and brought together OptionTrax’s proven issuer-centric technology with Empower’s scale, participant and brokerage services, and integrated workplace financial experience. The combination positioned Empower to offer a more complete suite of workplace solutions — connecting equity, retirement, and health benefits through a unified platform designed to help organizations and their employees on a path to greater financial security.

“Our clients tell us that integrated offerings and equity compensation participant and executive services are the new differentiators,” said Dave Gray, Executive Vice President for Enterprise Solutions, Empower. “As others pull back, we’re investing — expanding our capabilities, growing our team of specialists, and ensuring every issuer and participant gets the experience they deserve.”

Expanding Value for Issuers and Participants

Empower’s integrated approach strengthens the connection between employers and their workforce by combining stock plan management with Empower’s broader workplace solutions, including all defined contribution plan types such as 401(k)s, nonqualified (NQ),defined benefit (DB) and consumer-directed health (CDH) accounts.

• Integrated digital experience: Enhances Empower’s value to sponsors by bringing multiple benefits together into one seamless experience.
• Dedicated stock plan participant service team: Provides support and personalized guidance to help participants understand and maximize the value of their equity awards.
• Executive services and compliance: Offers issuers and executives peace of mind with full compliance with 10b5-1 plan design and execution.

In February 2025, Empower also announced a new consumer-directed healthcare (CDH) offering to help individuals manage their healthcare finances in conjunction with their full financial picture.

According to Empower’s research, more than 80% of plan sponsors want greater integration across workplace benefit providers. This expanded offering directly addresses this need, supporting companies who want to deliver confidence and clarity through connected financial experiences.¹

Market Momentum and Growth

Market adoption has been strong with Empower’s Stock Plan Services (SPS) business on track for a 30% growth rate entering the fourth quarter of 2025. Clients across industries have already added SPS to their existing Empower 401(k) and NQ relationships, underscoring the demand for integrated workplace solutions. The platform’s flexibility has also driven international expansion, attracting global issuers seeking customizable, compliant solutions for distributed associates. The company has expanded its team of certified equity professionals and introduced innovations such as global Employee Stock Purchase Plan enrollment, customized document and educational resource management, and enhanced audit tracking for full regulatory compliance.

Investment in Service to All Markets

While other providers have scaled back service teams following industry consolidation, Empower Stock Plan Services has continued to invest in team expansion and technology. The company serves public and private employers of all sizes with its real time technology and integrated workplace solutions offering being adopted most rapidly in the large market space by employers offering multiple, complex benefit packages. Empower remains committed to serving both private and public companies of all sizes, offering flexible and full-service models to meet clients where they are — from emerging ventures to global enterprises. In an environment where some competitors are shifting away from small and mid-market issuers, Empower’s inclusive approach is earning trust and market share across all issuer segments, regardless of size.

“Empower’s strength lies in our ability to support clients at every stage of growth, as we have in our 401(k) business,” added Gray. “Whether private or public, small or multinational, our clients know Empower will be there with the technology, service, and stability they can rely on.”

ABOUT EMPOWER

Recognized as the second-largest retirement services provider in the U.S.² by total participants, Empower administers approximately $1.8 trillion in assets³ for more than 19 million individuals through the provision of retirement plans, advice, wealth management and investments. Connect with us on empower.com, Facebook, X, LinkedIn, TikTok and Instagram.

1. Data from Empower Total Retirement Benefit Outlook (ETRBO) research conducted in February 2023.
2. Pensions & Investments DC Recordkeeper Survey (2024). Ranking measured by total number of participants as of December 31, 2023.
3. As of June 30, 2025. Assets under administration (AUA) refers to the assets administered by Empower. AUA does not reflect the financial stability or strength of a company.

Empower refers to the products and services offered by Empower Annuity Insurance Company of America and its subsidiaries. “EMPOWER” and all associated logos and product names are trademarks of Empower Annuity Insurance Company of America.

The information contained herein is being provided for discussion purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy or sell securities. All visuals are illustrative only.

©2025 Empower Retirement, LLC. All rights reserved. RO-4913831-1025

Learn more:

To learn more about how we’re empowering plan sponsors and their participants to be more engaged in their retirement plans than ever before, call us at 800-719-9914.

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