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Retirement Plan Updates

ICMARC to Empower graphic.jpg


Broomfield's voluntary deferred compensation plan for full-time and parttime employees is changing the service provider effective March 29, 2016.

blue heading icons_question.pngWHAT PROMPTED THE CHANGE?
  • Desire to increase transparency of service provider fees and improve customer service.
  • The investment review committee members worked with Human Resources and solicited proposals from retirement plan service providers.
  • Two firms were considered and Empower Retirement was selected.

blue heading icons_calendar.pngPROCESS AND DATES

        February 17, 2016 VERIFY YOUR HOME ADDRESS
Contact HR at with any changes.

        March 21, 2016 BLACKOUT PERIOD BEGINS
           This is the last day to make any fund transfers, account changes, loan 
            distribution requests through ICMA_RC before 2 p.m. After 2 p.m., any fund 
            transfers or account changes will need to be sent and processed through 
            Empower starting on April 6, 2016.

    All Assets will be wired to your new Empower account.

        April 4, 2016: YOUR NEW PIN WILL BE MAILED
            For employees not enrolled in one of the Money Purchase Plans, Empower 
            will mail a letter to your home with your new PIN number.
        April 6, 2016: BLACKOUT PERIOD ENDS
    All existing account balances will be verified and reconciled. Empower's website 
            and automated phone system, KeyTalk, will assist you with all transactions.

You will receive your first quarterly statement from Empower. Participants will 
            be able to view any previous statements and transactions with ICMA-RC 
            through June 30, 2016.

blue heading icons_raisehand.pngWHAT DO EMPLOYEES NEED TO DO?
  • Report any home address changes to HR before March 7, 2016.
  • Make any desired changes to your current account BEFORE March 21, 2016 at 2 p.m.
  • Save your mailed PIN number from Empower.
  • After April 6, 2016, login or create an online or phone system account with Empower.
    • You will need your Social Security Number (SSN) and PIN to access www.empower-retirement.com/participant and KeyTalk at 800.360.2684.
    • Employees enrolled in the Money Purchase Plan will be able to use their previously established login for their 457 account.