Empower Names Joe Smolen as President of Workplace Solutions

Munro to lead company’s Core & Mid-Market segments

GREENWOOD VILLAGE, Colo.--(BUSINESS WIRE)--Empower today announced the promotion of Joe Smolen to President of its Workplace Solutions business unit, a role in which he will oversee strategy, growth, relationship management and product for America’s second largest retirement services provider.

Smolen brings extensive experience and a strong track record of leadership to the role, having previously served as Executive Vice President and head of Empower’s Core & Institutional Market segments.

“Joe is a proven leader who consistently delivers results while keeping clients and partners at the center of everything he does,” said Rich Linton, President and Chief Operating Officer of Empower. “His deep understanding of the workplace retirement landscape, combined with his ability to lead high-performing teams, makes him exceptionally well suited to lead our Workplace Solutions business as we continue to innovate and grow.”

Empower’s Workplace Solutions business encompasses service to more than 61,000 employer-sponsored retirement plans and over 18.8 million plan participants; assets under administration are approximately $1.9 trillion, as of Sept. 30, 2025. Workplace Solutions serves all segments of the employer-sponsored retirement plan market: government 457 plans; small, mid-size, large and mega corporate 401(k) clients; nonprofit 403 (b) entities and private-label recordkeeping clients. The business offers defined contribution, defined benefit, non-qualified and consumer-directed healthcare plans as well as stock plan services.

A Colorado resident, Smolen is a long-serving Empower leader, having joined the company as a regional sales director in 1999. Following a progression of increased leadership roles, he took the reins of the core markets in 2017, adding Mid-Market in 2024.

A graduate of Kansas State University, Smolen has been an active leader outside of Empower. He recently completed a tenure as Board Chair for the Society of Professional Record Keepers and Asset Managers (SPARK) and serves on the board of the Children’s Diabetes Research Foundation, where he and his wife were recognized for their lifetime achievement in 2023. Smolen also serves as a volunteer with the Tim Tebow Foundation.

As part of this leadership transition, Ken Munro has been appointed Executive Vice President and head of the Core & Mid-Market segments at Empower, succeeding Smolen in the role. Munro will be responsible for advancing the segment’s strategic priorities and supporting continued growth and service excellence. He joined Empower in 2006 and was appointed to his current role as SVP, National Sales Director in 2021.

“Ken’s experience, operational expertise, and commitment to our clients position him well to build on the strong foundation Joe established,” Linton added. “This transition reflects the strength of our leadership bench and our continued focus on developing talent from within the organization.”

Reporting relationships will remain unchanged: Smolen will continue to report to Linton, and Munro will continue to report to Smolen. These changes are effective immediately.

Empower’s Core & Mid-Market segments work closely with advisors to serve and administer plans with assets up to $150 million, including start-up plans, pooled employer plans (PEPs) and multiple employer plans (MEPs). In total, the segment provides services to more than 44,000 retirement plan sponsors, encompassing more than $360 billion in assets under administration on behalf of more than 4.8 million plan participants, as of Sept. 30, 2025.

About Empower

Recognized as a leader in retirement services and wealth management,¹ Empower administers approximately $2 trillion in assets² for more than 19 million individuals through the provision of workplace and individual retirement plans, advice, financial planning and investments. Connect with us on empower.com, Facebook, X, LinkedIn, TikTok, and Instagram.

1. Pensions & Investments DC Recordkeeper Survey (2025). Ranking measured by total number of participants as of December 31, 2024.
2. As of September 30, 2025. Assets under administration (AUA) refers to the assets administered by Empower. AUA does not reflect the financial stability or strength of a company.

Empower refers to the products and services offered by Empower Annuity Insurance Company of America and its subsidiaries. “EMPOWER” and all associated logos and product names are trademarks of Empower Annuity Insurance Company of America.

The information contained herein is being provided for discussion purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy or sell securities. All visuals are illustrative only.

©2026 Empower Annuity Insurance Company of America. All rights reserved RO5138754-0126

Learn more:

To learn more about how we’re empowering plan sponsors and their participants to be more engaged in their retirement plans than ever before, call us at 800-719-9914.