Rollover comparison
Empower → Vanguard 401(k) rollover
If you're rolling a 401(k) FROM Empower TO Vanguard, here are the practical mechanics: what forms you'll fill out, how long it takes, whether ACATS is supported, and what specific gotchas to watch for at each custodian. This page documents the process; it does not recommend one custodian over the other.
Side-by-side
| Field | Empower | Vanguard |
|---|---|---|
| ACATS eligibility | Paper-based transfers only — typical processing 10–14 business days | ACATS (electronic) eligible — typical processing 3–5 business days |
| Processing time | 10-14 business days (paper-based) | 5-7 business days (ACATS); 2-3 weeks for paper |
| Transfer form | Direct Rollover request (plan-administrator form, varies by employer) | Move money in — Direct rollover (online wizard) |
| Customer-service phone | 1-855-756-4738 (former Empower Retirement); 1-800-345-2345 (Prudential-acquired plans) | 1-800-523-1188 (Personal Investor) / 1-800-523-1036 (Small Business 401(k)) |
| Customer-service hours | Mon-Fri 8am-10pm ET, Sat 9am-5:30pm ET | Mon-Fri 8am-8pm ET |
Known pitfalls at Empower
Warning: Empower acquired Prudential's full-service retirement business in 2022 and MassMutual's in 2021 — if your old plan was at either, it's now on the Empower platform and the login is at empower-retirement.com (not the Prudential or MassMutual portal).
Warning: Empower defaults to mailing a paper check to YOU unless you specifically request a 'direct rollover, custodian-to-custodian wire'. If you accept a check made out to you, 20% is mandatorily withheld and you have 60 days to deposit the gross amount (the 20% comes out of your pocket until tax-time refund).
Warning: Some Empower plans require your former employer to countersign the rollover request — this can add 5-7 days if HR is slow. Call HR before you call Empower so they have your request on file.
Known pitfalls at Vanguard
Warning: Vanguard's outbound-transfer form is at 'Profile & account settings → Move money out → To another firm'. It's easy to miss — they bury it deeper than other custodians.
Warning: If your 401(k) is at Vanguard Retirement Plan Services (employer plan), the path is different — log into Vanguard.com/retirementplans, not my.vanguard.com.
Warning: Vanguard requires a Medallion Signature Guarantee for transfers over $100K (NOT a notary — a Medallion stamp, typically from a bank you have a relationship with). Get this in person before you start; finding a Medallion provider can take a couple days.
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Start my free previewFrequently asked questions
- How long does a Empower to Vanguard 401(k) rollover take?
- Empower uses a paper-based transfer process (10-14 business days (paper-based)), while Vanguard supports ACATS. Despite Vanguard's ACATS capability, the outbound process is controlled by Empower, so expect 10-14 business days (paper-based) from the date you submit your rollover form.
- Do I call Empower or Vanguard first to start the rollover?
- Call Empower first at 1-855-756-4738 (former Empower Retirement); 1-800-345-2345 (Prudential-acquired plans) to request the rollover form and confirm the direct-rollover process. Once you have the form, call Vanguard to confirm they accept incoming rollovers from Empower and get any required receiving documentation.
- Will I owe taxes when rolling over from Empower to Vanguard?
- A direct trustee-to-trustee rollover from a traditional 401(k) to a traditional IRA or new 401(k) is NOT a taxable event — provided funds move custodian-to-custodian and are never paid to you personally. No federal or state income tax, no 10% early-withdrawal penalty. If you're rolling into a Roth IRA (conversion), the pre-tax balance does become taxable income for the year of conversion — that's a deliberate tax election, not a mistake. Request "direct rollover" language explicitly with Empower so the 1099-R is coded Box 7 = G (direct rollover) rather than Box 7 = 1 or 2 (distribution), which would incorrectly trigger withholding and IRS scrutiny.
- Does Empower charge a fee to roll over my 401(k)?
- Most employer 401(k) plans administered by Empower do not charge an outbound rollover fee, but some employer plan documents do include a distribution or processing fee ($25–$75 is common). Check your Summary Plan Description (the document your former employer sent when you joined the plan) — the fee schedule is in there — or ask the Empower rep when you call (1-855-756-4738 (former Empower Retirement); 1-800-345-2345 (Prudential-acquired plans)). Empower may also liquidate any holdings that can't transfer in-kind before sending, so you could face a brief period out of the market during the transfer.
- What's the 60-day rule for a Empower to Vanguard rollover?
- If you received a check made out to you (an indirect rollover), you have exactly 60 calendar days from the date of distribution to deposit the full gross amount — including the 20% the custodian withheld — into a qualifying retirement account. If you initiate a direct trustee-to-trustee transfer instead (the recommended path), the 60-day clock does not apply because you never receive the funds personally. For direct transfers, initiate immediately — Empower's processing time is 10-14 business days (paper-based), which can consume a significant portion of your window if you wait.
- Can I roll my Empower 401(k) into a Vanguard IRA directly?
- Yes — a direct rollover from a Empower 401(k) to a Vanguard traditional IRA is fully legal under IRC §402(c). Vanguard supports ACATS, so the cleanest path is to open the IRA at Vanguard first, then have Vanguard initiate an ACATS pull from Empower. The one exception: if your Empower 401(k) contains employer stock with significant appreciation, review Net Unrealized Appreciation (NUA) tax treatment with a CPA before rolling — NUA elections must be made at the time of distribution and cannot be undone.
Related
Empower info verified 2026-05-15 · Vanguard info verified 2026-05-15. Spot a change? Tell us.
This comparison is informational only — it documents the procedural mechanics of rolling over a 401(k) between Empower and Vanguard. nesthelm is not an investment adviser or broker-dealer; we do not recommend either custodian over the other. Consult a CPA or licensed financial advisor for advice on your specific situation.