Empower Renews Contract with MTA NY

Empower this week renewed its contract with the Metropolitan Transit Authority (MTA) of New York, who has been a client with the organization since 1988.

Empower will continue the plan administration for the MTA’s 401(k) and 457 defined contribution plans for approximately 124,000 participants with assets of approximately $10.3 billion of assets under administration (AUA).

“We are proud to continue working with the MTA, the largest transportation provider in the country, who millions of commuters count on every day,” said Empower President and Chief Operating Officer Rich Linton. “Empower has had a long-standing team of retirement plan advisors dedicated to the MTA’s public service employees to help them prepare confidently for their futures. Our economy and communities depend on them — so we want them to know they can continue to depend on us.”

Linton indicated the new five-year contract commenced June 1, 2025, and is in effect until May 31, 2030.

“The MTA Deferred Compensation Program Committee is pleased to extend its relationship with Empower due to their in-depth experience with public sector and government defined contribution plan administration,” said Nicole LaMorte, director of Tax Favored programs. “This will allow us to maximize participant engagement and offer best in class communications while providing our employees with the support they’re familiar with. We look forward to this continued partnership with Empower in helping all our employees achieve better financial outcomes.”