Acquiring Company
Empower
Acquired Company
Milliman's retirement administration business
Greenwood VillageSeattleFinancial ServicesInformation TechnologyConsultingDescription
Empower has closed its acquisition of Milliman's retirement administration business, which was first announced on June 30, 2026. The deal adds about 800 employees and expands Empower's defined benefit administration capabilities. With completion, Empower's footprint grows to an estimated 22 million lives served and more than $2.3 trillion in assets under administration.
Who to call at Empower, and when
When Empower changes hands, the new owners review vendors, systems and leadership. That is when the door opens.
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Frequently asked
Who acquired Milliman's retirement administration business?
Milliman's retirement administration business was acquired by Empower, based in Greenwood Village. The deal was reported on November 4, 2026. Empowered Funds LLC is an investment firm focusing on acquiring interests in various sectors. It aims to enhance the value of its portfolio through strategic management. Empower is privately held and operates in Financial Services.
When did Empower acquire Milliman's retirement administration business?
Empower's acquisition of Milliman's retirement administration business was reported on November 4, 2026. Empower has closed its acquisition of Milliman's retirement administration business, which was first announced on June 30, 2026. The deal adds about 800 employees and expands Empower's defined benefit administration capabilities. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does Milliman's retirement administration business do?
Milliman's retirement administration business specializes in retirement plan and benefits administration. The company offers expertise in defined benefit and defined contribution plans, serving a significant number of participants and client assets. It is privately held, operating in Information Technology, and is based in Seattle.
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