v3.25.1
Label Element Value
Risk Return Abstract rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName EMPOWER FUNDS, INC.
Prospectus Date rr_ProspectusDate Apr. 30, 2025
Empower International Value Fund  
Risk Return Abstract rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading <span style="color:#000000;font-family:Times New Roman;font-size:12pt;font-weight:bold;">Fund Summary</span>
Objective [Heading] rr_ObjectiveHeading <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Investment Objective</span>
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Fund seeks long-term capital growth.
Objective, Secondary [Text Block] rr_ObjectiveSecondaryTextBlock  
Expense [Heading] rr_ExpenseHeading <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Fees and Expenses of the Fund</span>
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. This table does not reflect the fees and expenses of any Permitted Account. If the fees and expenses of a Permitted Account were reflected, the fees and expenses shown below would be higher.
Operating Expenses Caption [Text] rr_OperatingExpensesCaption <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Annual Fund Operating Expenses</span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;"> (expenses that you pay each year as a percentage of the value of your investment)</span>
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination <span style="color:#000000;font-family:Times New Roman;font-size:9pt;">April 30, 2026</span>
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Portfolio Turnover</span>
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate generally indicates higher transaction costs. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s turnover rate was 25% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 25.00%
Expense Example [Heading] rr_ExpenseExampleHeading <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Example</span>
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example does not reflect the fees and expenses of any Permitted Account. If the fees and expenses of any Permitted Account were reflected, the fees and expenses in the Example would be higher.The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of each period. The Example also assumes that the Expense Limit is in place for the first year, that your investment has a 5% return each year, that all dividends and capital gains are reinvested, and that the Fund’s operating expenses are the amount shown in the fee table and remain the same for the years shown. Although your actual costs may be higher or lower, based on these assumptions, your costs would be:
Strategy [Heading] rr_StrategyHeading <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Principal Investment Strategies</span>
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock Below is a summary of the principal investment strategies of the Fund.The Fund will, under normal circumstances, invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in equity securities. Under normal circumstances, the Fund will invest primarily in companies located outside the U.S., including those in emerging markets. The Fund may have significant investments in a particular country, a small number of countries, or a particular geographic region. The Fund may also invest in securities of companies of any size, including small- and medium-size companies. The issuer of a security or other investment is generally deemed to be economically tied to a particular country other than the U.S. if: (1) the security or other investment is issued or guaranteed by the government of that country or any of its agencies, authorities or instrumentalities; (2) the issuer is organized under the laws of that country; (3) the issuer maintains a principal office in that country; (4) the issuer has its principal securities trading market in that country; (5) the issuer derives 50% or more of its total revenues from goods sold or services performed in that country; (6) the issuer has 50% or more of its assets in that country; or (7) the issuer is included in an index which is representative of that country.The Fund emphasizes a “value style” of investing, seeking companies that are undervalued in comparison to their peers due to economic, market, company-specific or other factors, but have the prospect of achieving improved valuations in the future. The Fund may invest in derivatives, including but not limited to forward foreign currency exchange contracts.Empower Capital Management, LLC (“ECM”) is the Fund’s investment adviser and, subject to the approval of the Board of Directors of Empower Funds (the “Board”), selects the Fund’s sub-advisers and monitors their performance on an ongoing basis. The Fund’s investment portfolio is managed by two sub-advisers: LSV Asset Management (“LSV”) and Massachusetts Financial Services Company (“MFS”) (each, a “Sub-Adviser,” and collectively, the “Sub-Advisers”).LSV generally focuses on investing in securities of companies that it believes are undervalued in the marketplace at the time of purchase and show recent positive signals, such as an appreciation in price and increase in earnings. LSV uses a quantitative investment model to make investment decisions, ranking securities based on fundamental measures of value and indicators of near-term recovery.MFS uses an active bottom-up investment approach to buying and selling investments, focusing on investing in the stocks of companies that it believes are undervalued compared to their intrinsic value. MFS may also consider environmental, social and governance (“ESG”) factors in its fundamental investment analysis where MFS believes such factors could materially impact the economic value of an issuer. ESG considerations are only one component in the evaluation of eligible investments and may not be a determinative factor in the final investment decision.ECM maintains a strategic allocation of the Fund’s assets with each Sub-Adviser and reviews the asset allocations on a quarterly basis, or more frequently as deemed necessary. As of the date of this Prospectus, the target percentage is a 50% allocation of the Fund’s assets to LSV and a 50% allocation of the Fund’s assets to MFS. Actual allocations may vary from the target allocations and ECM may change the asset allocations at any time without shareholder notice or approval.
Risk [Heading] rr_RiskHeading <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Principal Investment Risks</span>
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;">Performance</span>
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and table below provide an indication of the risk of investment in the Fund by showing changes in the performance of the Fund’s Investor Class shares for the last ten calendar years and by comparing the Fund's average annual total returns to the performance of a broad-based securities market index and an additional index with investment characteristics similar to those of the Fund.The returns shown below are historical and are not an indication of future performance.Total return figures assume reinvestment of dividends and capital gains distributions and include the effect of the Fund’s recurring expenses, but do not include fees and expenses of any Permitted Account. If the fees and expenses of any Permitted Account were reflected, the performance shown would be lower.Performance information prior to April 27, 2018 is for MFS only. Consequently, the Fund’s total returns shown below for the periods prior to that date are not necessarily indicative of the performance of the Fund as it is currently managed.Updated performance information may be obtained at www.empower.com/investments/empower-funds/fund-documents (the website does not form a part of this Prospectus).
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns <span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:0%;">The bar chart and table below provide an indication of the risk of investment in the Fund by showing changes in the performance of the Fund’s Investor Class shares for the last ten calendar years and by comparing the Fund's average annual total returns to the performance of a broad-based securities market index and an additional index with investment characteristics similar to those of the Fund.</span>
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">www.empower.com/investments/empower-funds/fund-documents</span>
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">The returns shown below are historical and are not an indication of future performance.</span>
Bar Chart [Heading] rr_BarChartHeading <span style="color:#000000;font-family:Times New Roman;font-size:12pt;font-weight:bold;">Calendar Year Total Returns</span>
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads <span style="color:#000000;font-family:Times New Roman;font-size:10pt;">Total return figures assume </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:0%;">reinvestment of dividends and capital gains distributions and include the effect of the Fund’s recurring expenses, but do not include fees and expenses of any Permitted Account. If the fees and expenses of any Permitted Account were reflected, the performance </span><span style="color:#000000;font-family:Times New Roman;font-size:10pt;">shown would be lower.</span>
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock Quarter EndedTotal ReturnBest QuarterJune 30, 202016.80%Worst QuarterMarch 31, 2020-21.81%
Performance Table Heading rr_PerformanceTableHeading <span style="color:#000000;font-family:Times New Roman;font-size:12pt;font-weight:bold;">Average Annual Total Returns for the Periods Ended December 31, 2024</span>
Performance Table Market Index Changed rr_PerformanceTableMarketIndexChanged  
Empower International Value Fund | Risk Lose Money [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock and is subject to the possible loss of your original investment.
Empower International Value Fund | Risk Not Insured [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock An investment in the Fund is not a deposit with a bank, is not insured, endorsed or guaranteed by the Federal Deposit Insurance Corporation or any government agency
Empower International Value Fund | Foreign Securities Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Foreign Securities Risk - Foreign markets can be more volatile than the U.S. market due to increased risks of adverse issuer, political, geopolitical (including war or armed conflict), regulatory, market, currency valuation, or economic or other developments and can perform differently than the U.S. market. Current tariffs, sanctions or the threat of potential tariffs, sanctions or other similar measures may also impair the value or liquidity of affected securities and negatively impact the Fund.
Empower International Value Fund | Equity Securities Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Equity Securities Risk - The value of equity securities held by the Fund may decline as a result of factors directly related to a company, a particular industry or industries, or general market conditions that are not specifically related to a company or an industry.
Empower International Value Fund | Market Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Market Risk - The value of the Fund’s investments may decrease, sometimes rapidly or unexpectedly, due to factors affecting (or perceived to affect) specific issuers held by the Fund, particular industries represented in the Fund’s portfolio, or the overall securities markets. A variety of factors can increase the volatility of the Fund’s holdings and markets generally, including political or regulatory developments, recessions, inflation, deflation, rapid interest rate changes, bank failures, war or acts of terrorism, sanctions, tariffs, natural disasters, outbreaks of infectious illnesses or other widespread public health issues, general outlook for corporate earnings, or adverse investor sentiment generally. Certain events may cause instability across global markets, including reduced liquidity and disruptions in trading markets, while some events may affect certain geographic regions, countries, sectors, and industries more significantly than others. These adverse developments may cause broad declines in an issuer’s value due to short-term market movements or for significantly longer periods during more prolonged market downturns.
Empower International Value Fund | Geographic Concentration Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Geographic Concentration Risk - Events negatively affecting the fiscal stability of a particular country or region in which the Fund focuses its investments may cause the value of its shares to decrease, perhaps significantly.
Empower International Value Fund | Value Stock Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Value Stock Risk - A value style of investing is subject to the risk that returns on value stocks are less than returns on other styles of investing or the overall stock market. Value stocks tend to trade at lower price-to-book and price-to-earnings ratios, which suggest the market as a whole views their potential future earnings as limited.
Empower International Value Fund | Liquidity Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Liquidity Risk - The Fund may not be able to sell a security at or near its perceived value in a timely manner (or at all) because of unusual market conditions, an unusually high volume of redemption requests, little or no active trading market for a specific type of security, legal or contractual restrictions on resale, or a reduced number or capacity of market participants to make a market in such security. Liquidity risk may also refer to the risk that the Fund will not be able to pay redemption proceeds within the allowable time period or without significant dilution to the remaining investors’ interest due to market conditions or other factors. Investments in many, but not all, foreign securities tend to have greater exposure to liquidity risk than domestic securities because secondary trading markets for these securities may be smaller and less well-developed and the securities may trade less frequently.
Empower International Value Fund | Currency Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Currency Risk - Adverse fluctuations in exchange rates between the U.S. dollar and other currencies may cause the Fund to lose money on investments denominated in foreign currencies.
Empower International Value Fund | Large Size Company Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Large-Size Company Risk - Large-size companies are generally more mature and may be unable to respond as quickly as smaller companies to new competitive challenges, such as changes in technology and consumer tastes, and may not be able to attain the high growth rate of successful smaller companies, especially during extended periods of economic expansion.
Empower International Value Fund | Small Or Mid Cap Company Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Small- and Medium-Size Company Risk - The stocks of small- and medium-size companies often trade in lower volumes, may be less liquid, and are subject to greater or more unpredictable price changes than stocks of larger companies. Such companies may also have limited markets, financial resources or product lines, may lack management depth, and may be more vulnerable to adverse business or market developments. Accordingly, stocks of small- and medium-size companies tend to be more sensitive to changing economic, market, and industry conditions and tend to be more volatile and less liquid than stocks of larger companies, especially over the short term, and are more likely not to survive or accomplish their goals with the result that the value of their stock could decline significantly. In addition, there may be less publicly available information concerning small- and medium-size companies upon which to base an investment decision.
Empower International Value Fund | Quantitative Model Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Quantitative Model Risk - Securities selected by LSV using a quantitative investment model can perform differently than the market as a whole based on the factors used in the model, the weight placed on each factor, and changes in the factors’ historical trends. Due to the significant role technology plays in a quantitative investment model, its use carries the risk of potential issues with the design, coding, implementation or maintenance of the computer programs, data and/or technology used in the model. There can be no assurance that the use of a quantitative investment model will enable the Fund to achieve its objective.
Empower International Value Fund | Emerging Markets Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Emerging Markets Risk - Emerging market countries generally have economic structures that are less diverse and mature, and political systems that are less stable, than those of developed countries. The economies of countries with emerging markets may be based predominantly on only a few industries, may be highly vulnerable to changes in local or global trade conditions, and may suffer from limited reliable access to capital, extreme debt burdens, less established financial market operations or volatile inflation rates. The securities markets of emerging market countries may be subject to manipulation and have historically been extremely volatile and less liquid than more developed markets. These market conditions may continue or worsen. Investments in these countries may be subject to heightened political, geopolitical (including war or armed conflict), economic, legal, market, currency and tariff risks and other adverse local or regional developments, including heightened risk of war and ethnic, religious and racial conflicts. The imposition of sanctions, exchange controls (including repatriation restrictions), confiscations, trade restrictions (including tariffs) and other government restrictions by the U.S. and other governments, or from problems in share registration, settlement or custody, may also result in losses. Differences in regulatory, accounting, auditing and financial reporting and recordkeeping standards could impede the availability of reliable information to evaluate and monitor local companies and impact the Fund’s performance. There is also the risk of negative foreign currency exchange rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which the Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time.
Empower International Value Fund | Derivatives Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Derivatives Risk - The use of derivatives, including but not limited to forward foreign currency exchange contracts, may expose the Fund to additional risks that it would not be subject to if it invested directly in the securities underlying those derivatives. These risks include imperfect correlations with underlying investments or the Fund’s other portfolio holdings, magnified losses resulting from leverage, counterparty risk, high price volatility, liquidity risk, segregation risk, valuation risk and legal restrictions.
Empower International Value Fund | Management Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Management Risk - A strategy, investment decision, technique, analysis, or model used by the portfolio managers may fail to produce the intended results or imperfections, errors or limitations in the tools and data used by the portfolio managers may cause unintended results. Therefore, the Fund could underperform in comparison to other funds with similar objectives and investment strategies and may generate losses even in a favorable market.
Empower International Value Fund | Environmental Social and Governance Considerations Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Environmental, Social and Governance Considerations Risk - The Fund’s portfolio selection strategy is not solely based on ESG considerations, and therefore the issuers in which the Fund invests may not be considered ESG-focused companies. Consideration of ESG factors may affect the Fund’s exposure to certain issuers or industries and may not work as intended. While ESG considerations may have the potential to contribute to the Fund’s long-term performance, there is no guarantee that such results will be achieved.
Empower International Value Fund | Multi Manager Risk [Member]  
Risk Return Abstract rr_RiskReturnAbstract  
Risk [Text Block] rr_RiskTextBlock Multi-Manager Risk - Because the Sub-Advisers make investment decisions independently, it is possible that the security selection processes of the Sub-Advisers may not complement one another, and the Fund may have buy and sell transactions in the same security on the same day.
Empower International Value Fund | Institutional  
Risk Return Abstract rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.67%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Shareholder Services Fees rr_Component1OtherExpensesOverAssets none
Other Expenses rr_Component2OtherExpensesOverAssets 0.04%
Total Other Expenses rr_OtherExpensesOverAssets 0.04%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.71%
Fee Waiver and Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets none [1]
Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursement rr_NetExpensesOverAssets 0.71%
1 Year rr_ExpenseExampleYear01 $ 73
3 Years rr_ExpenseExampleYear03 227
5 Years rr_ExpenseExampleYear05 395
10 Years rr_ExpenseExampleYear10 $ 883
OneYear rr_AverageAnnualReturnYear01 5.93%
FiveYears rr_AverageAnnualReturnYear05 5.54%
TenYears rr_AverageAnnualReturnYear10
SinceInception rr_AverageAnnualReturnSinceInception 6.01%
InceptionDate rr_AverageAnnualReturnInceptionDate May 01, 2015
Empower International Value Fund | Investor  
Risk Return Abstract rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.67%
Distribution and Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Shareholder Services Fees rr_Component1OtherExpensesOverAssets 0.35%
Other Expenses rr_Component2OtherExpensesOverAssets 0.06%
Total Other Expenses rr_OtherExpensesOverAssets 0.41%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.08%
Fee Waiver and Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets 0.01% [1]
Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursement rr_NetExpensesOverAssets 1.07%
1 Year rr_ExpenseExampleYear01 $ 109
3 Years rr_ExpenseExampleYear03 342
5 Years rr_ExpenseExampleYear05 595
10 Years rr_ExpenseExampleYear10 $ 1,316
2015 rr_AnnualReturn2015 6.45%
2016 rr_AnnualReturn2016 3.88%
2017 rr_AnnualReturn2017 26.47%
2018 rr_AnnualReturn2018 (15.57%)
2019 rr_AnnualReturn2019 22.06%
2020 rr_AnnualReturn2020 9.73%
2021 rr_AnnualReturn2021 10.83%
2022 rr_AnnualReturn2022 (15.18%)
2023 rr_AnnualReturn2023 18.03%
2024 rr_AnnualReturn2024 5.46%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0.0pt;">Best Quarter</span>
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2020
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 16.80%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel <span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:bold;margin-left:0.0pt;">Worst Quarter</span>
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Mar. 31, 2020
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (21.81%)
OneYear rr_AverageAnnualReturnYear01 5.46%
FiveYears rr_AverageAnnualReturnYear05 5.13%
TenYears rr_AverageAnnualReturnYear10 6.35%
SinceInception rr_AverageAnnualReturnSinceInception
Empower International Value Fund | MSCI EAFE Index (reflects no deduction for fees, expenses or taxes)  
Risk Return Abstract rr_RiskReturnAbstract  
OneYear rr_AverageAnnualReturnYear01 3.82%
FiveYears rr_AverageAnnualReturnYear05 4.73%
TenYears rr_AverageAnnualReturnYear10 5.20%
SinceInception rr_AverageAnnualReturnSinceInception 4.43%
Empower International Value Fund | MSCI EAFE Value Index (reflects no deduction for fees, expenses or taxes)  
Risk Return Abstract rr_RiskReturnAbstract  
OneYear rr_AverageAnnualReturnYear01 5.68%
FiveYears rr_AverageAnnualReturnYear05 5.09%
TenYears rr_AverageAnnualReturnYear10 4.31%
SinceInception rr_AverageAnnualReturnSinceInception 3.59%
[1] The investment adviser has contractually agreed to waive management fees or reimburse expenses if Total Annual Fund Operating Expenses of any Class exceed 0.72% of the Class's average daily net assets, excluding Distribution and Service (12b-1) Fees, Shareholder Services Fees, brokerage expenses, taxes, dividend interest on short sales, interest expenses, and any extraordinary expenses, including litigation costs (the “Expense Limit”). The agreement’s current term ends on April 30, 2026, and automatically renews for one-year terms unless it is terminated upon termination of the investment advisory agreement or by Empower Funds or the investment adviser upon written notice within 90 days of the end of the current term. Under the agreement, the investment adviser may recoup, subject to the approval of the Board of Directors of Empower Funds, these waivers and reimbursements in future periods, not exceeding three years following the particular waiver/reimbursement, provided Total Annual Fund Operating Expenses of the Class plus such recoupment do not exceed the lesser of the Expense Limit that was in place at the time of the waiver/reimbursement or the Expense Limit in place at the time of recoupment.