"With today's announcement, Empower is taking the next step toward addressing the complex and evolving needs of millions of workers and retirees through the combination of expertise, talent and business scale being created," said Edmund F. Murphy III, President and Chief Executive Officer of Empower Retirement.

It was no secret that MassMutual was looking to sell its retirement services division this summer. But the unknown factor was who would buy it. Today Empower Retirement announced it has agreed to acquire MassMutual's retirement plan business.

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C.J. Marwitz

C.J. Marwitz is a writer and editor.

Retirement
Defined Contribution
Retirement Trends