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Empower 401K manual download

Scott Mustian

It appears that once again the .qfx file that was available to manually download transactions for an Empower 401K account has disappeared. Seems to be regular issue for Empower. Never understood why Empower did no allow automatic download access like Vanguard or Fidelity.

Anyone have input on this and a possible fix?

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Comments

Quicken Anja

Hello @Scott Mustian,

Since QFX files are created and provided by the financial institution, Quicken is unable to resolve this issue, and you will need to contact the financial institution directly to resolve this.

We apologize for any inconvenience! Thank you.

Scott Mustian

Did confirm Empower is doing some work on the .qFx function and it will return at some unknown time.

rbeard

Yep, this is the second time this has happened going back to early 2023.

It also took them several weeks to figure it out…

Quicken Anja

https://community.quicken.com/discussion/comment/20459116#Comment_20459116

We appreciate the update and sharing this information here so other experiencing the same can be made aware.

Thank you!

edysbryan

I am glad to hear I am not the only one experiencing this issue again.

DNelz

It would have been nice if Empower would have made a statement about working on the QFX file…again. This is probably the provider in the history of providers I have dealt with.

raustin316

Same problem here - I contacted them and they are late in getting back to me on a solution.

Akafrank

It will not update once again for me. Worked for a few weeks then not. I do not understand how this keeps happening.

Pat Marshall

I download the QFX file from the transactions page monthly, but I now see the icon is no longer on the Empower page. Too bad, I very much appreciated the option to download the file, but now that it is gone it will be tough to enter the data into Quicken. It was a great option, and I will miss it. I will follow this discussion in hopes good news will emerge. Thank you for sharing this. I have a tough time with Empower on the phone, and I'm not willing to put myself through that.

Menashe

I called Empower to voice a complaint, and they opened a ticket. I also let my employer know that this is important to me and hopefully others, and maybe they can encourage Empower to reconsider.

Judy

Thank you for the information about Empower downloads! I have had the worst experience with Empower and feel helpless because I don't know who to complain to. It has to do with my once a year MRD (Minimum Required Distribution. I have spent at least 20 hours and 13 phone calls to them and each rep I talk to gives me a different answer! I know this is somewhat off-topic, but it is helpful for me to know there are other Prudential retirees or employees who are finding Empower the opposite of Pru's famous "Go Above and Beyond". Thanks for hearing me out!

PS I just realized it is not only Prudential that uses Empower. At the end of 2023, Prudential sold their Retirement Services to Empower, unfortunately.

Pat Marshall

I am in same situation a Judy. They messed up my RMD as well, and I spent a lot of time with letters and phone calls to no avail. Prudential used to be my provider as well, and I never had any difficulty with them. I was at least happy with the QFX download from Empower, but now that appears to be jeopardized as well. Sigh . . . .

Q_user

I've run into the same issue. It's helpful to know it's not just me experiencing the problem. Here's hoping they resolve the problem quicker than the last time.

Dragon Runner

I am experiencing the same issue with Empower for the second time. Does anyone have a recommendation for the best method to let Empower know that this is unacceptable?

Pat Marshall

Here are the instructions from the Empower web site. The blue Quicken QFX link is supposed to be available on the website, but it is now gone with no explanation or alternative to download from our Empower account to Quicken:

The Quicken Direct-Connect feature is not available on our website; however, you may download a Quicken QFX file from our website and import it into Quicken.

To download a Quicken QFX file from our website, click Account at the top of the page, then click Overview from the drop-down menu.

On the left side of the "Account Overview" page, click "Transaction History," then click on the blue "Quicken QFX" link located near the top-right side of the page.

Once you have downloaded the Quicken QFX file, you may then open your Quicken software to import the file

scott.in.az

I just logged in my Empower account and the Quicken QFX link is back up on the Transaction History page. Hopefully they stop messing around with it.

Pat Marshall

I confirm the icon is back, and the download works!

Quicken Anja

@scott.in.az & @Pat Marshall Thank you for updating this post and letting everyone know it is working now! We're happy to hear this has been resolved for you. 🙂

Judy

This is very good news! Thank you for contacting them to fix the problem! It is so very nice to see that red Quicken icon with the option to click to download!🙂

So all of my money is in the PESP Fixed Fund (3.50% per yr). I verified that my number of shares in Quicken matches Empower's, but the Share Price in Quicken never updates. My balance is different than Empower's due to the Quicken file using an out-of-date Share Price. I went into Account Overview in Quicken and manually replaced the Share Price and now the balance matches Empower's. Seems like there should be a way to update it automatically. No transactions downloaded because there are no new transactions since my 2023 RMD withdrawal. Any suggestions?

As far as my 2024 RMD withdrawal, I am waiting to see the latest statement on Empower's website, as the one there now is not correct. I hope they will use the correct Federal WH tax I requested.

Q_user

Worked for me too. Glad they got it back quickly this time.