Updated 2026-03-30
Empower vs T. Rowe Price 401(k) Comparison
Compare Empower Retirement (#4, 8.7/10) and T. Rowe Price (#5, 8.5/10) side by side across fees, ratings, features, and investment options.
Overall Comparison
| Feature | Empower | T. Rowe Price |
|---|---|---|
| Overall Score | 8.7/10 | 8.5/10 |
| Rank | #4 | #5 |
| AUM | $1.4 trillion | $1.3 trillion |
| Participants | 18 million | 10 million |
| Plan Sponsors | 71,000+ | 4,500+ |
| Founded | 2014 | 1937 |
Ratings Comparison
| Category | Empower | T. Rowe Price |
|---|---|---|
| Fees & Costs | 4.3/5 | 3.8/5 |
| Investment Options | 4.2/5 | 4.6/5 |
| Customer Service | 4.3/5 | 4.4/5 |
| Mobile App | 3.8/5 | 4.2/5 |
Fee Comparison
| Fee Type | Empower | T. Rowe Price |
|---|---|---|
| Admin Fees | Varies by plan size | $0 - $50/year |
| Expense Ratios | 0.03% - 1.0% | 0.30% - 1.2% |
| Trading Fees | Plan dependent | $0 for T. Rowe Price funds |
| Advisory Fees | 0.25% - 0.89% | 0.30% - 1.25% |
Empower Strengths
- Strong participant education programs
- Excellent plan sponsor tools
- Competitive institutional pricing
- Personal Capital integration for all-in-one planning
T. Rowe Price Strengths
- Excellent actively managed fund performance
- Best-in-class target date funds
- Strong research capabilities
- No-transaction-fee mutual fund platform
Rollover, Loans & Withdrawals
| Feature | Empower | T. Rowe Price |
|---|---|---|
| Rollover Platform | Empower.com | Individual.troweprice.com |
| Loans Available | Yes | Yes |
| Withdrawal Methods | Online via Empower.com, Phone (800-338-4015) | Online portal, Phone (800-225-5132) |
| Distribution Options | Lump sum, Partial withdrawal, Installment payments, Annuity purchase, Rollover to IRA | Lump sum, Partial withdrawal, Installment payments, Rollover to IRA |
Which Should You Choose?
Choose Empower if you want:
- Mid to large employers
- Those valuing education
- Managed account seekers
- Income-focused retirees
Choose T. Rowe Price if you want:
- Active fund believers
- Target-date fund users
- Research-oriented investors
- Long-term holders
Our Verdict: Empower vs T. Rowe Price
Empower Retirement wins this comparison with a score of 8.7/10 vs 8.5/10. Empower excels with strong participant education programs, making it the stronger choice for most investors in this matchup. However, the best choice ultimately depends on your specific needs, employer plan availability, and investment preferences.
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Empower vs T. Rowe Price: Complete 401(k) Comparison for 2026
Choosing between Empower Retirement and T. Rowe Price for your 401(k) is an important decision that affects your retirement savings. Empower offers 2nd largest while T. Rowe Price is known for active management. In terms of fees, Empower charges 0.03% - 1.0% expense ratios compared to T. Rowe Price's 0.30% - 1.2%. Empower manages $1.4 trillion in assets and serves 18 million participants, while T. Rowe Price has $1.3 trillion AUM and 10 million participants.
Key Differences: Empower vs T. Rowe Price
When comparing Empower and T. Rowe Price, consider their core strengths: Empower excels with strong participant education programs, while T. Rowe Price stands out for excellent actively managed fund performance. Both providers offer a wide range of investment options including target-date funds, index funds, and managed accounts. Empower's customer service rating is 4.3/5 compared to T. Rowe Price's 4.4/5. For mobile experience, Empower scores 3.8/5 while T. Rowe Price scores 4.2/5.
Which Provider is Right for You?
Choose Empower if you prioritize mid to large employers. Choose T. Rowe Price if you're looking for active fund believers. Your decision should also consider your employer's plan availability, fee sensitivity, desired investment options, and customer service expectations. For detailed reviews, visit our individual Empower and T. Rowe Price provider pages.
Frequently Asked Questions
Empower Retirement scores higher in our 2026 rankings with 8.7/10. Empower is best for mid to large employers, while T. Rowe Price is best for active fund believers. The right choice depends on your employer's plan and your priorities.
Empower charges expense ratios of 0.03% - 1.0% with admin fees of Varies by plan size. T. Rowe Price charges 0.30% - 1.2% expense ratios with admin fees of $0 - $50/year. Empower's fees rating is 4.3/5 compared to T. Rowe Price's 3.8/5.
Yes, you can roll over between Empower and T. Rowe Price. Empower uses Empower.com for rollovers, while T. Rowe Price uses Individual.troweprice.com. A direct rollover avoids mandatory tax withholding. Contact your new provider to initiate the transfer.
Empower offers 401(k) loans. T. Rowe Price offers 401(k) loans. Both providers typically allow loans up to 50% of your vested balance or $50,000, whichever is less.
Empower scores 4.2/5 for investment options, while T. Rowe Price scores 4.6/5. Both offer target-date funds, index funds, and managed accounts. Empower's investment options include Index Funds, Target Date Funds, Mutual Funds. T. Rowe Price offers Active Mutual Funds, Target Date Funds, Index Funds.
For small businesses, consider plan minimums and per-participant costs. Empower is best for mid to large employers, those valuing education, managed account seekers, income-focused retirees. T. Rowe Price is best for active fund believers, target-date fund users, research-oriented investors, long-term holders. Compare admin fees: Empower charges Varies by plan size vs T. Rowe Price's $0 - $50/year.
Pavlo Pyskunov
Managing Director & Investment Fund Director
Pavlo Pyskunov analyzes employer-sponsored retirement plans using IRS publications and DOL Form 5500 filings, helping workers maximize their 401(k) savings through data-driven guidance.
Last updated: 2026-03-30