The Maryland State Employees Supplemental Retirement Plans (MSRP) will be moving from their current plan administrator, Nationwide, to a new plan administrator, Empower, effective Sept. 18, 2025.
No action is required from employees. Their accounts will transfer automatically.
What Can You expect?
- Seamless Account Transition: Employees will not be required to take any action to move their account balances and selection. Employee retirement account(s) will automatically be transferred to Empower. After the transition in September, employees will be invited to register their account online to view their account, make changes, or just explore the new features.
- A Clearer Financial Picture: With a single login, employees can access all of their accounts to track, manage, and plan their savings at the convenience of a mobile app.
- Personalized Guidance: Employees can receive personalized, straightforward guidance tailored to their retirement goals.
Want to learn more about Empower? Watch this video!
This action will only affect employees with Nationwide as their Supplemental Retirement Account (SRA) vendor. Employees enrolled in Supplemental Retirement Accounts with TIAA and Fidelity will not be affected.