<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/nport" xmlns:com="http://www.sec.gov/edgar/common" xmlns:ncom="http://www.sec.gov/edgar/nportcommon" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <headerData>
    <submissionType>NPORT-P</submissionType>
    <isConfidential>false</isConfidential>
    <filerInfo>

      <filer>
        <issuerCredentials>
          <cik>0000356476</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>


      <seriesClassInfo>
        <seriesId>S000063745</seriesId>
        <classId>C000206613</classId>
        <classId>C000206610</classId>
        <classId>C000206612</classId>
      </seriesClassInfo>


    </filerInfo>
  </headerData>
  <formData>
    <genInfo>
      <regName>EMPOWER FUNDS, INC.</regName>
      <regFileNumber>811-03364</regFileNumber>
      <regCik>0000356476</regCik>
      <regLei>RUYOMHMDMSPQ01U66388</regLei>
      <regStreet1>8515 E Orchard Road</regStreet1>
      <regCity>Greenwood Village</regCity>
      <regStateConditional regCountry="US" regState="US-CO"/>
      <regZipOrPostalCode>80111</regZipOrPostalCode>
      <regPhone>866-831-7129</regPhone>
      <seriesName>Empower Lifetime 2060 Fund</seriesName>
      <seriesId>S000063745</seriesId>
      <seriesLei>549300OR2CZOPYLX2045</seriesLei>
      <repPdEnd>2026-12-31</repPdEnd>
      <repPdDate>2026-03-31</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
    <fundInfo>
      <totAssets>155018436.790000000000</totAssets>
      <totLiabs>522695.330000000000</totLiabs>
      <netAssets>154495741.460000000000</netAssets>
      <assetsAttrMiscSec>0.000000000000</assetsAttrMiscSec>
      <assetsInvested>0.000000000000</assetsInvested>
      <amtPayOneYrBanksBorr>0.000000000000</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0.000000000000</amtPayOneYrCtrldComp>
      <amtPayOneYrOthAffil>0.000000000000</amtPayOneYrOthAffil>
      <amtPayOneYrOther>0.000000000000</amtPayOneYrOther>
      <amtPayAftOneYrBanksBorr>0.000000000000</amtPayAftOneYrBanksBorr>
      <amtPayAftOneYrCtrldComp>0.000000000000</amtPayAftOneYrCtrldComp>
      <amtPayAftOneYrOthAffil>0.000000000000</amtPayAftOneYrOthAffil>
      <amtPayAftOneYrOther>0.000000000000</amtPayAftOneYrOther>
      <delayDeliv>0.000000000000</delayDeliv>
      <standByCommit>0.000000000000</standByCommit>
      <liquidPref>0.000000000000</liquidPref>
      <isNonCashCollateral>N</isNonCashCollateral>
      <returnInfo>
        <monthlyTotReturns>
          <monthlyTotReturn classId="C000206610" rtn1="3.1852472757753825" rtn2="2.1121039805036768" rtn3="-6.443914081145563"/>
          <monthlyTotReturn classId="C000206612" rtn1="3.1879194630872965" rtn2="2.195121951219514" rtn3="-6.3643595863166595"/>
          <monthlyTotReturn classId="C000206613" rtn1="3.2176121930567847" rtn2="2.132895816242786" rtn3="-6.425702811244937"/>
        </monthlyTotReturns>
        <othMon1 netRealizedGain="222256.320000000000" netUnrealizedAppr="4489377.750000000000"/>
        <othMon2 netRealizedGain="423906.470000000000" netUnrealizedAppr="3229145.260000000000"/>
        <othMon3 netRealizedGain="732236.620000000000" netUnrealizedAppr="-10650746.160000000000"/>
      </returnInfo>
      <mon1Flow redemption="4100793.550000000000" reinvestment="0.0" sales="8023530.870000000000"/>
      <mon2Flow redemption="7514022.940000000000" reinvestment="0.0" sales="15872703.450000000000"/>
      <mon3Flow redemption="11980061.820000000000" reinvestment="0.0" sales="22563524.220000000000"/>
    </fundInfo>
    <invstOrSecs>
      <invstOrSec>
        <name>FIDELITY</name>
        <lei>N/A</lei>
        <title>FIDELITY EMRG MKT</title>
        <cusip>316146331</cusip>
        <identifiers>
          <isin value="US3161463316"/>
          <ticker value="FPADX"/>
        </identifiers>
        <balance>468983.28</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6636113.5</valUSD>
        <pctVal>4.2953374878</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EMPOWER FUNDS INC</name>
        <lei>RUYOMHMDMSPQ01U66388</lei>
        <title>LOOMIS SAYLES BOND INST</title>
        <cusip>39137E244</cusip>
        <identifiers>
          <isin value="US39137E2440"/>
          <ticker value="MXUGX"/>
        </identifiers>
        <balance>203134.73</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1673830.38</valUSD>
        <pctVal>1.0834152218</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EMPOWER FUNDS INC</name>
        <lei>RUYOMHMDMSPQ01U66388</lei>
        <title>LARGE CAP VALUE-INST</title>
        <cusip>39137E251</cusip>
        <identifiers>
          <isin value="US39137E2515"/>
          <ticker value="MXVHX"/>
        </identifiers>
        <balance>1439833.25</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10006841</valUSD>
        <pctVal>6.4770982717</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EMPOWER FUNDS INC</name>
        <lei>RUYOMHMDMSPQ01U66388</lei>
        <title>TEMPLETON GBL BOND FUND-INST</title>
        <cusip>39137E285</cusip>
        <identifiers>
          <isin value="US39137E2853"/>
          <ticker value="MXZMX"/>
        </identifiers>
        <balance>144537.75</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1112940.88</valUSD>
        <pctVal>0.7203699400</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EMPOWER FUNDS INC</name>
        <lei>RUYOMHMDMSPQ01U66388</lei>
        <title>TROWE PRICE MIDCAP GROWTH-INST</title>
        <cusip>39137E293</cusip>
        <identifiers>
          <isin value="US39137E2937"/>
          <ticker value="MXYKX"/>
        </identifiers>
        <balance>1422504.5</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6614646</valUSD>
        <pctVal>4.2814422828</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EMPOWER FUNDS INC</name>
        <lei>RUYOMHMDMSPQ01U66388</lei>
        <title>SMALL CAP VALUE FUND-INST</title>
        <cusip>39137E335</cusip>
        <identifiers>
          <isin value="US39137E3356"/>
          <ticker value="MXTFX"/>
        </identifiers>
        <balance>829915.75</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5892401.5</valUSD>
        <pctVal>3.8139572291</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EMPOWER FUNDS INC</name>
        <lei>RUYOMHMDMSPQ01U66388</lei>
        <title>INTERNATIONAL INDEX FUND-INST</title>
        <cusip>39137E376</cusip>
        <identifiers>
          <isin value="US39137E3760"/>
          <ticker value="MXPBX"/>
        </identifiers>
        <balance>1486305</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19500320</valUSD>
        <pctVal>12.6219142455</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EMPOWER FUNDS INC</name>
        <lei>RUYOMHMDMSPQ01U66388</lei>
        <title>MFS INTL VALUE FUND-INST</title>
        <cusip>39137E442</cusip>
        <identifiers>
          <isin value="US39137E4420"/>
          <ticker value="MXJVX"/>
        </identifiers>
        <balance>995557.63</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10463310</valUSD>
        <pctVal>6.7725556065</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EMPOWER FUNDS INC</name>
        <lei>RUYOMHMDMSPQ01U66388</lei>
        <title>FEDERATED BOND FUND-INST</title>
        <cusip>39137E459</cusip>
        <identifiers>
          <isin value="US39137E4594"/>
          <ticker value="MXIUX"/>
        </identifiers>
        <balance>206322.44</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1751677.5</valUSD>
        <pctVal>1.1338030961</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EMPOWER FUNDS INC</name>
        <lei>RUYOMHMDMSPQ01U66388</lei>
        <title>MFS INTL GROWTH FUND-INST</title>
        <cusip>39137E467</cusip>
        <identifiers>
          <isin value="US39137E4677"/>
          <ticker value="MXHTX"/>
        </identifiers>
        <balance>1017366.5</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9074909</valUSD>
        <pctVal>5.8738894123</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EMPOWER FUNDS INC</name>
        <lei>RUYOMHMDMSPQ01U66388</lei>
        <title>MULTI-MAN LRG CAP GROWTH-INST</title>
        <cusip>39137E475</cusip>
        <identifiers>
          <isin value="US39137E4750"/>
          <ticker value="MXGSX"/>
        </identifiers>
        <balance>814191.19</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9094516</valUSD>
        <pctVal>5.8865803769</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EMPOWER FUNDS INC</name>
        <lei>RUYOMHMDMSPQ01U66388</lei>
        <title>HIGH YIELD BOND-INST</title>
        <cusip>39137E483</cusip>
        <identifiers>
          <isin value="US39137E4834"/>
          <ticker value="MXFRX"/>
        </identifiers>
        <balance>84770.8</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>895179.81</valUSD>
        <pctVal>0.5794203785</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EMPOWER FUNDS INC</name>
        <lei>RUYOMHMDMSPQ01U66388</lei>
        <title>BOND INDEX FUND-INST</title>
        <cusip>39137E525</cusip>
        <identifiers>
          <isin value="US39137E5252"/>
          <ticker value="MXCOX"/>
        </identifiers>
        <balance>351934.47</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2914017.5</valUSD>
        <pctVal>1.8861474578</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EMPOWER FUNDS INC</name>
        <lei>RUYOMHMDMSPQ01U66388</lei>
        <title>MULTI MGR SCG FUND INST</title>
        <cusip>39137G736</cusip>
        <identifiers>
          <isin value="US39137G7363"/>
          <ticker value="MXMSX"/>
        </identifiers>
        <balance>234169.25</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2554786.5</valUSD>
        <pctVal>1.6536290747</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JANUS</name>
        <lei>N/A</lei>
        <title>TRITON N</title>
        <cusip>47103D793</cusip>
        <identifiers>
          <isin value="US47103D7930"/>
          <ticker value="JGMNX"/>
        </identifiers>
        <balance>94945.54</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2554984.25</valUSD>
        <pctVal>1.6537570718</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EMPOWER FUNDS INC</name>
        <lei>RUYOMHMDMSPQ01U66388</lei>
        <title>SHORT DURATION BOND FUND-INST</title>
        <cusip>39137E319</cusip>
        <identifiers>
          <isin value="US39137E3190"/>
          <ticker value="MXXJX"/>
        </identifiers>
        <balance>17707.18</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>171051.36</valUSD>
        <pctVal>0.1107159061</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EMPOWER FUNDS INC</name>
        <lei>RUYOMHMDMSPQ01U66388</lei>
        <title>GS MID CAP VALUE FUND-INST</title>
        <cusip>39137E426</cusip>
        <identifiers>
          <isin value="US39137E4263"/>
          <ticker value="MXKJX"/>
        </identifiers>
        <balance>829476.88</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7150090.5</valUSD>
        <pctVal>4.6280178550</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EMPOWER FUNDS INC</name>
        <lei>RUYOMHMDMSPQ01U66388</lei>
        <title>REAL ESTATE INDEX FUND-INST</title>
        <cusip>39137E343</cusip>
        <identifiers>
          <isin value="US39137E3430"/>
          <ticker value="MXSFX"/>
        </identifiers>
        <balance>608445.38</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5250883.5</valUSD>
        <pctVal>3.3987237774</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EMPOWER FUNDS INC</name>
        <lei>RUYOMHMDMSPQ01U66388</lei>
        <title>S&amp;P 500 INDEX FUND-INST</title>
        <cusip>39137E434</cusip>
        <identifiers>
          <isin value="US39137E4347"/>
          <ticker value="MXKWX"/>
        </identifiers>
        <balance>4372454.5</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>44249240</valUSD>
        <pctVal>28.6410742340</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EMPOWER FUNDS INC</name>
        <lei>RUYOMHMDMSPQ01U66388</lei>
        <title>EM EQUITY FUND INST CL</title>
        <cusip>39137G330</cusip>
        <identifiers>
          <isin value="US39137G3305"/>
          <ticker value="MXENX"/>
        </identifiers>
        <balance>523931.22</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6591055</valUSD>
        <pctVal>4.2661726063</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EMPOWER</name>
        <lei>N/A</lei>
        <title>GUARANTEED FUNDING ACCOUNT</title>
        <cusip>GPFML1001</cusip>
        <identifiers>
          <other otherDesc="In-House" value="GPFML1001"/>
        </identifiers>
        <balance>304486.28</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>388554.97</valUSD>
        <pctVal>0.2514988221</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-05-19</ncom:dateSigned>
      <ncom:nameOfApplicant>EMPOWER FUNDS, INC.</ncom:nameOfApplicant>
      <ncom:signature>/s/Kelly New</ncom:signature>
      <ncom:signerName>Kelly New</ncom:signerName>
      <ncom:title>Treasurer, Empower Funds, Inc.</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
