Empower has renewed its contract with the Employees Retirement System of Texas to administer the Texa$aver 401(k) and 457 retirement plans for approximately 300,000 employees with roughly $7B in assets under administration. The six-year contract, approved by the ERS Board of Trustees, is effective from Jan. 1, 2027, through Dec. 31, 2032. This agreement extends a relationship that began in 2009, ensuring continued retirement plan administration for state agency and higher education employees.

The Texa$aver program, funded entirely by participants, has experienced substantial growth since Empower first assumed the administrator role. Assets in the 401(k) plan have grown by 88%, while assets in the 457 plan have more than doubled, increasing by 106%. Annual contributions have also risen, with 401(k) contributions increasing by nearly 45% and 457 contributions growing by over 30%.

Service and Support

Empower provides its My Total Retirement professionally managed investment and planning service to participants, offering personalized retirement strategies. The firm maintains a local presence in Austin, TX, with seven dedicated retirement plan advisors, including two Spanish-speaking representatives, serving over 200 state agencies and higher education institutions.

Historical Growth Metrics

ERS Executive Director Porter Wilson emphasized that the continued growth reflects active employee engagement in retirement security. He noted that the renewed partnership ensures high-quality administration at lower-than-average costs, providing employees with the necessary tools and guidance for confident retirement decisions.

Empower India Limited announced its strategic expansion into next-generation digital solar solutions to capture India's fast-growing renewable energy market. The initiative aims to democratize access to renewable energy by addressing barriers such as high upfront capital requirements and lack of rooftop ownership. This move positions the company to participate in a market with over 150 GW of installed solar capacity and a government target of 1 crore solar-powered households.

The company is evaluating innovative solar-access models designed to enable a wider section of society to benefit from renewable energy without traditional ownership hurdles. This strategic evolution leverages Empower India's existing expertise in renewable energy, solar solutions, and power infrastructure. The expansion aims to support India's accelerating clean energy transition and strengthen long-term energy security.

India's transition toward sustainable energy is creating a significant infrastructure opportunity, with over US$200 billion in investment expected in the coming years. Empower India believes the next phase of growth will be driven by solutions that make clean energy more accessible, affordable, and scalable. The proposed platform is expected to focus on enabling customers to participate in renewable energy generation, thereby reducing reliance on conventional power.

Strategic Positioning

The expansion leverages Empower India's existing capabilities in technology infrastructure, network management, digital platforms, and sustainable power solutions. By integrating technology and analytics with renewable infrastructure, the company aims to create a differentiated ecosystem serving both individual and enterprise customers.

"The future of energy lies not only in generating renewable power but in making renewable power accessible to every consumer and business," said Mr. Rajesh Chavan, Managing Director of Empower India Limited. "Our vision is to build technology-enabled energy solutions that remove traditional barriers to solar adoption while creating a scalable and recurring revenue platform for long-term growth."

Market Overview

Empower India Limited is focused on technology infrastructure, network management, and sustainable power solutions. The company believes this strategic expansion positions it to participate in one of the most significant structural growth opportunities emerging in India's renewable energy sector.