2025 Plan Transition
As part of our ongoing effort to modernize and improve the benefits we offer, WGU transitioned the university's retirement plans for U.S. employees from Transamerica to WGU Retirement Savings Plan, effective October 1, 2025. Learn more about Empower and the transition by watching this recorded webinar in the Find Frequently Asked Questions below.
This decision follows a thorough evaluation of potential providers. Empower emerged as the right partner to help us provide a more streamlined, user-friendly retirement planning experience that aligns with WGU's broader efforts to simplify and enhance employee benefits.
What to expect from this transition
- Lower fees, smarter value: We're excited to share a cost-saving update: a commitment to low fees as part of our ongoing effort to deliver efficient, high-impact service—helping you get more value from your plan experience.
- Automatic account transfer: Your existing retirement account, current investments, contribution rates, and loan and distribution amounts and schedules will automatically transfer.
- See your complete financial picture: WGU Retirement Savings Plan offers a mobile app to view all your accounts in one place with a single login— even when you're on the go. Plus, access new tools designed to help you track, manage, and plan your finances.
- Get personalized guidance: You'll have access to resources and guidance tailored to your retirement and financial goals. This point-in-time support from an Empower representative includes savings, investment allocation, distribution, and rollover advice, including advice on consolidating outside retirement accounts.
We appreciate your continued engagement in preparing for your financial future and for the feedback you have provided on the value of your WGU benefits. Partnering with you to build a strong employee value proposition is an ongoing process, and we look forward to delivering a retirement planning experience that better supports you. If you need additional information, please reach out to the WGU People Center.
– WGU Benefits
Overview
Taking steps to ensure your current and future financial security is an important part of your overall wellbeing. The WGU Retirement Savings Plan helps you prepare for retirement by offering an easy, tax-advantaged way to save for your future financial needs. WGU makes contributions on your behalf to the plan and you can, too!
Key Advantages at a Glance
Convenient payroll deductions.
The WGU Retirement Savings Plan makes it easy to save for your future.
WGU matching contributions.
WGU will make a matching contribution on the first 3% of your pay you contribute.
Automatic WGU contributions.
WGU will contribute 3% of your eligible pay to your account whether or not you choose to contribute yourself.
Current tax savings.
You’ll pay less in income taxes when you make before-tax contributions.
Wide range of investment choices.
Choose how you want to invest your money.
Tax-deferred investment growth.
With before-tax contributions, your money has the potential to grow faster.
Eligibility and Enrollment
The WGU Retirement Savings Plan is generally available to all regular employees, although special eligibility rules apply to employees in positions classified as “temporary” or “intermittent.” Employees in classified as “temporary” or “intermittent” must complete 1,000 hours and a year of service to receive WGU retirement contributions. Please visit the WGU People Center to submit a request for additional information about eligibility.
Your Contributions
WGU believes planning and saving for retirement is a shared responsibility. WGU’s role is to provide valuable plans and resources to help you build your future income. Your role is to invest and manage your retirement savings.
Before-tax vs. Roth after-tax:
What’s the Difference?
The WGU Retirement Savings Plan gives you the flexibility to save for retirement in a variety of ways. You can make before-tax contributions, Roth after-tax contributions, or a combination of the two.
Before-tax Contributions
The money goes into your account before taxes are deducted, so you keep more of your take-home pay.
Then, you’ll owe taxes on both your contributions and any investment earnings when you withdraw your money in retirement (when you may be in a lower income tax bracket).
Roth After-tax Contributions
The money goes into your account after taxes are withheld. Then, both your contributions and any associated earnings can be withdrawn tax-free in retirement.*
* In order for Roth earnings to be withdrawn tax-free, you must meet these two requirements:
- At least five years have elapsed since your first Roth contribution.
- You are at least 59½ or the withdrawal follows death or total disability.
Meet the Match!
Try to contribute at least 3% to take full advantage of the match — otherwise, you’re leaving free money on the table. Log in to your Empower account to increase your contribution rate.
WGU Contributions
WGU Matching Contributions
WGU offers dollar-for-dollar matching contributions on your before-tax and Roth after-tax contributions to the plan — up to 3% of your eligible pay, to support your retirement saving efforts. Eligible pay is limited to base or regular pay, and related amounts like holiday pay, sick pay, etc. Bonuses, pay for overtime or other special additional amounts are not included.
Here’s how the company match works:
For every 3% you contribute |
The company contributes 3% |
And 6% goes into your account |
Non-Elective Contributions
Regardless of whether you choose to contribute to the plan, WGU will make a contribution of 3% of your eligible pay. You are automatically 100% vested in these contributions after four years of service.
IRS Contribution Limits
You can elect to contribute a flat dollar amount or percentage of your eligible pay to the plan in the form of before-tax or Roth after-tax contributions, up to the applicable IRS limit currently at $23,500 for 2025. If you are 50 or older, this limit is $31,000 for 2025. These limits include your before-tax contributions, Roth after-tax contributions, or a combination of both.
Note: IRS limits are subject to increase annually and will be communicated separately for 2026 when available.
Are you age 50 or older?
It’s never too late to start saving for retirement! If you are a WGU employee who is age 50 or older during a given calendar year, you eligible for an additional $7,500 “catch-up” contribution for 2025). If you are age 60 – 63, you are eligible to contribute an additional $11,250.
Vesting
Vesting is another way of saying, “how much of the money is yours to keep if you leave WGU.”
You are always 100% vested in your own contributions and WGU’s matching contributions, including any investment gains and losses on the money. Regardless of whether you choose to contribute to the plan, WGU will make a contribution of 3% of your eligible pay. You are automatically 100% vested in these contributions after four years of service.
| Your years of service | Your vested percentage |
|---|---|
| Less than 1 | 0% |
| 1 but less than 2 | 25% |
| 2 but less than 3 | 50% |
| 3 but less than 4 | 75% |
| 4 or more | 100% |
Name a Beneficiary
It’s important to designate a beneficiary to receive the value of your WGU Retirement Savings Plan account in the event of your death. As personal circumstances change, be sure to keep that information up to date. Visit the Empower website to add or change a beneficiary.
Withdrawals and Loans
The money in your account is intended as a long-term investment to help you prepare for your financial needs in retirement. However, under certain circumstances, you may be able to access money from your account before reaching retirement age. For more information, visit the Empower website or call 866-467-7756.
Think Before You Act
If you’re considering taking a withdrawal or loan from your WGU Retirement Savings Plan, be sure to think about the impact it may have on your financial future.
- Taking money from your account now may lead to a smaller savings balance when you retire.
- Not only are you taking money away from your retirement savings, but the burden of repaying the loan may make it even harder to get back on track.
- If you take a plan loan, you’ll also lose more money to taxes because the interest payments on your loan are made with money that has already been taxed, and it will be taxed again when withdrawn from your account.
- If you withdraw before-tax money from your plan account, in addition to paying current taxes on the money, you may have to pay an additional 10% penalty tax if you are younger than age 59½ (or, age 55 if you have retired or left the company).
Tools and Resources
Take an active role in your retirement planning by using these tools and resources.
- Empower online retirement planning tools. Access your WGU Retirement Savings Plan account to access tools and education, including Empower’s OnTrack personalized retirement income analysis to estimate how much you may need now for retirement. Also, take advantage of a variety of other available investment guidance services and planning calculators.
Before investing, carefully consider the funds’ or investment options’ objectives, risks, charges and expenses. Call 866-467-7756 for a prospectus and, if available, a summary prospectus, or an offering circular containing this and other information. Please read them carefully. Investing involves risk, including the risk of loss.
Frequently Asked Questions
Empower Frequently Asked Questions
Were there changes to the retirement plan provider?
Western Governors University retirement plans moved to Empower on October 1, 2025. You can now set up your account, review your balance and contributions, change your investment elections, or request a distribution at empowermyretirement.com.
Who is Empower?
Empower is the second-largest retirement plan recordkeeper in the U.S. Empower serves more than 19 million individuals and over 88,000 plans.* They take great pride in providing tools and resources to help people see their full financial picture and gain financial freedom. The genesis of Empower dates back to 1891, when its parent company was founded as an insurance firm on the Canadian prairie. After more than a century of expansion, the modern iteration of Empower was launched in 2014. Click here to learn more about Empower.
*As of March 31, 2025.
Pensions & Investments DC Recordkeeper Survey (2024). Ranking measured by total number of participants as of December 2023.
What are some highlights of the move to Empower?
- Lower fees, smarter value: As part of our commitment to delivering greater value, we're moving to a new provider with lower fees. It's part of our ongoing effort to deliver efficient, high-impact service — helping you get more from your plan experience.
- Automatic account transfer: Your existing retirement account, current investments, contribution rates, and loan and distribution amounts and schedules will automatically transfer.
- See your complete financial picture: Empower offers a mobile app to view all your accounts in one place with a single login — even when you're on the go. Plus, access new tools designed to help you track, manage, and plan your finances.
- Get personalized guidance: You'll have access to resources and guidance tailored to your retirement and financial goals. This point-in-time support from an Empower representative may include savings, investment allocation, distribution, and rollover advice, including advice on consolidating outside retirement accounts.
Why did Western Governors University make this change from Transamerica to Empower?
Empower was selected through a competitive process based on its enhanced services, lower participant fees, more robust technology, better retirement planning tools, and investment options. These changes are intended to provide greater long-term value for employees and retirees and provide a more streamlined, user-friendly retirement planning experience that aligns with WGU’s broader efforts to simplify and enhance employee benefits.
Does this change impact vesting?
While the provider is changing, the plan itself is not.
Did the WGU retirement contribution remain the same?
Yes. There will not be any changes to WGU’s matching contributions. WGU offers dollar-for-dollar matching contributions on your before-tax and Roth after-tax contributions to the plan—up to 3% of your eligible pay—to support your retirement saving efforts. Learn more here.
How can I confirm that all my investments I had at Transamerica transferred to Empower?
You’ll receive a final statement from Transamerica in October. You will have access to your Transamerica account for 30 days after the final statements are sent. Visit transamerica.com/portal/.
What notices did I receive about the transition?
A transition notice was mailed to your home address on file in late August with more details about the transition process, with key dates plus important information about investment options and how to access your new account with Empower.
How was my Transamerica account affected?
Your existing account—including all assets—transferred to Empower and Empower officially took over plan administration on October 1, 2025.
What happened to my account balance during the transition?
All balances securely transferred to Empower. There was a temporary “blackout period” that began September 23, 2025, and finished the week ending October 19, 2025—during which time you did not have account access. This is a standard step to ensure an accurate and safe transfer of funds. Now that the blackout period has concluded, you have access to your Empower account, and all gains or losses during the period are reflected.
Enrolled in Managed Advice at Transamerica?
If you were enrolled in Managed Advice at Transamerica, you were automatically enrolled into NFP Personalized Portfolios offered through National Financial Partners (NFP). Please see the “Notice for participants currently enrolled in Managed Advice at Transamerica”, sent with the transition package in August, for further information. If you do not want to be enrolled in NFP Personalized Portfolios at Empower, you have the option to unenroll from the service by contacting Empower at 866-467-7756.
What if I have an outstanding loan?
If you had an outstanding loan on file in a plan at Transamerica, the balance of your loan has transferred to Empower; however, coupon payments will no longer be available and ACH instructions will not be transferred to Empower. Now that the transition is complete, you need to establish, or reestablish, your banking information with Empower to allow loan repayments to continue.
Go to empowermyretirement.com, visit the Account Overview menu, and select Manage bank accounts under Account Information. Follow the steps to provide the information and then go to Withdrawals within Account Overview. Select your outstanding installment and assign Direct Deposit as your payment method.
What if my next required minimum distribution (RMD) installment payment occurred during the blackout period?
If you are currently receiving an installment payment as a required minimum distribution (RMD) from the plan, and your payment date fell on or after September 23, 2025, through the week ending no later than October 19, 2025, Transamerica expedited your payment and distributed any RMD payment that fell during that time. Any RMD installments that fall after the week ending October 19, 2025, will be paid by Empower going forward.
Do I have a new account website?
Yes, changing our retirement plan recordkeeper means that you will log in to a new website, and call a new service center, to view/access your account balance and contributions, change your investment elections, or request a distribution. With a single login, you will be able to access all your accounts through the online platform or with the convenience of a mobile app.
Log in to your account at empowermyretirement.com. Registering your account helps safeguard it online, ensures you receive timely account updates, provides convenient online account management, and gives you the opportunity to explore new tools and resources at Empower. When you log in to your account for the first time, you will be prompted to create a username and password and complete multifactor authentication security steps.
Are there other ways for me to manage my account with Empower?
You can manage your account online at empowermyretirement.com or by phone at 866-467-7756. You can also download the Empower app from your device’s app store.
How do I download the Empower mobile app?
The Empower app is available on both iOS® and Android™ devices for mobile phones, tablets, and the Apple Watch®. Go to your device’s app store and search for “Empower.” Then simply download the app and log in with your new Empower username and password.
Is there any impact to my current fund selection(s)?
Details outlined in the transition notice you received in the mail included fund mapping. Your balances and future elections were transferred in kind and remained invested in the same investment choices you had with Transamerica or liquidated and invested in funds with similar objectives to your current investments. You may now transfer your assets to any of your plan’s investment options by contacting Empower.
Where can I direct my questions?
You can call Empower’s Customer Care Center at 866-467-7756. Empower representatives are available weekdays from 6 a.m. to 8 p.m. Mountain time (excluding most financial market holidays) and Saturdays from 7 a.m. to 3:30 p.m. Mountain time.
For after-hours services, use Empower’s voice response system at 866-467-7756. The voice response system and website are available 24 hours a day, seven days a week.
What if I already have an Empower account?
If you currently have an account with Empower, due to a previous employer's offering or due to personal management accounts, you will be able to use the same login credentials. Once WGU's plan is live, you will be able to see your WGU specific account information.
If you forgot your log in credentials or need to reset your password, you can use this link to start the process.
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Investing involves risk, including possible loss of principal.
Fund changes may alter the risk exposure of an investment account. Some cash-alternative options (other than money market funds), such as guaranteed interest funds or stable value funds, may have withdrawal and transfer restrictions. Carefully consider the importance of a well- balanced and diversified investment portfolio while considering all your assets, income, and investments. Adjustments may be needed to realign the account with its desired investment strategy.
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